Money

  • gates gate hand door open

    Biglaw, Lateral Moves, Partner Issues, Partner Profits

    Barbarians At The K&L Gates?

    Partner departures, staff layoffs, and an office closing, oh my.

    18 Comments / / Jul 23, 2015 at 5:40 PM
  • Jon Stewart (photo by Ethan Miller/Getty)

    Morning Docket

    Morning Docket: 07.23.15

    * Earlier this week, President Barack Obama said that he’d issue an executive order to keep Jon Stewart on as the host of The Daily Show, despite his imminent retirement. POTUS joked that “[i]t’s being challenged in the courts.” [Newsweek]

    * Check out this hot mess from New Jersey: An employee in the Cumberland County Prosecutor’s Office was allegedly demoted from office administrator to legal secretary after making comments about a prosecutor’s adult purchases made during a visit to a sex toy shop. [Press of Atlantic City]

    * Dentons just snagged a heavy hitter in its Chicago office, where Roderick “Rick” Palmore, formerly general counsel to corporate giant General Mills, will serve as senior counsel. This hire will surely give the firm some “additional street cred.” [Crain’s Chicago Business]

    * Uh oh! According to the latest Managing Partner Confidence Index report from Citi Private Bank’s Law Firm Group, Biglaw higher-ups are only “moderately” confident about their financial prospects for the second quarter. [Big Law Business / Bloomberg BNA]

    * If you’ve been searching for ways to improve your already strong law school application, then boy, do we have some tips for you. You can start by being even more gunnery — take the LSAT again, and get your GPA even higher. [Law Admissions Lowdown / U.S. News]

    13 Comments / / Jul 23, 2015 at 8:58 AM
  • Demi Moore (Photo by Angela Weiss/Getty)

    Morning Docket

    Morning Docket: 07.21.15

    * Because sometimes the application of the law seems like an indecent proposal: Demi Moore is “in absolute shock” because she may be facing a lawsuit for negligent supervision due to a pool drowning that occurred at her home while she was out of the country. [Fox News]

    * “The bow tie is a manifestation of my unwillingness to become part of the rabble.” Male lawyers face harsh criticism about their fashion choices, too, and these New Jersey attorneys will wear their bow ties with pride, no matter what. [Bergen Record]

    * In a recent interview, Justice Alito critiqued his SCOTUS colleagues for adopting a seemingly limitless interpretation of the 14th Amendment: “I don’t know what the limits of substantive liberty protection under the 14th Amendment are at this point.” [Legal Times]

    * If you’d like to be a federal appellate judge by the age of 35, then Judge Alex Kozinski of the Ninth Circuit has some advice for you. First and foremost, know where to “peddle your wares” — get a job in Washington, D.C., ASAP. [Concurring Opinions via ABA Journal]

    * Managing partners, repeat this mantra: Don’t do a Dewey! Thanks to the D&L financial disaster, Biglaw firms have decided to cut back on or ditch bank loans completely and get by with a little help from their friends partners in times of need. [Wall Street Journal]

    18 Comments / / Jul 21, 2015 at 9:01 AM
  • lawyer cash grab

    Bonuses, General Counsel, In-House Counsel, Money

    Who Are America’s Best-Paid General Counsel? (2015 Rankings)

    In-house life might be stressful, but millions of dollars in compensation surely makes up for it.

    13 Comments / / Jul 16, 2015 at 12:18 PM
  • student-loan-debt

    Law Schools, Money, Unemployment

    Which Law School Is Offering Partial Tuition Refunds For Students Who Can’t Get Jobs?

    Is this consolation prize enough to defray the costs of attending a law school that can’t net you a job offer?

    39 Comments / / Jul 14, 2015 at 11:31 AM
  • Businessman Consulting Glowing Crystal Ball

    Boutique Law Firms, Intellectual Property, Partner Issues

    What’s Going On At Kenyon & Kenyon?

    It sounds like this prominent intellectual-property firm is in trouble.

    23 Comments / / Jul 10, 2015 at 10:31 AM
  • HootersGirls_Cake

    Crime, Law Schools, Money

    Law School’s Ex-CFO Arrested After Spending $50K At Hooters And Other Inappropriate Expenses

    Guess what, Barry Law students? Your tuition dollars really were being put to work!

    41 Comments / / Jul 10, 2015 at 9:44 AM
  • taylor-swift

    Non-Sequiturs

    Non-Sequiturs: 07.09.15

    * If Taylor Swift doesn’t like a photographer she just shakes it off… and then roughs him up according to her contract. [Gawker]

    * Bankers commit crimes for the dumbest reasons. [Dealbreaker]

    * Chadbourne closes its Beijing office, leaving the firm with no more boots on the ground in Asia. It’s like the Asian Pivot… but backward. [Big Law Business / Bloomberg BNA]

    * The Florida Supreme Court just ordered the legislature to redraw some of the state’s congressional districts before 2016. All that hard gerrymandering work for nothing, huh? [Reuters via Yahoo News]

    * Richard Hsu of Shearman & Sterling and the host of the Hsu Untied podcast finds himself on the other side of this interview. [One-400]

    * Massively underpaying lawyers. It’s not just for Massachusetts any more. [Legal Cheek]

    * Katten Muchin is back in hot water after the Seventh Circuit revived a malpractice suit. [Law 360]

    * Judge Rakoff relishes an opportunity to sit by designation on the Second Circuit. [Dealbreaker]

    * A reminder that Bloomberg BNA is hosting its inaugural Big Law Business Summit next week to hear from in-house counsel about the evolving relationship between Biglaw and its clients. [Big Law Business / Bloomberg BNA]

    2 Comments / / Jul 9, 2015 at 5:25 PM
  • The holy sacrament?

    Morning Docket

    Morning Docket: 07.09.15

    * According to Justice Jeanette Theriot Knoll of the Louisiana Supreme Court, the SCOTUS decision in Obergefell was not only “horrific,” but it was also “a complete and unnecessary insult to the people of Louisiana.” Gee, tell us how you really feel. [Slate]

    * The First Church of Cannabis filed a discrimination suit against Indiana and Indianapolis, claiming laws against marijuana use and possession are infringing upon its members’ beliefs. We’re sTOKEd to see the outcome here. [Indianapolis Star]

    * In case you missed it yesterday, a federal judge upheld the TTAB’s prior ruling on the Washington Redskins’ name, and ordered that the team’s trademark registrations be canceled. The team is going for a Hail Mary at the Fourth Circuit. [Washington Post]

    * Ex-associate Elina Chechelnitsky’s sexual harassment and gender bias lawsuit against McElroy Deutsch, filled with allegations of better bonuses for men and creepy flirtations, was settled out of court. You go, girl. [New Jersey Law Journal via ABA Journal]

    * Crowell & Moring recently dropped a suit against a former client that had allegedly failed to pay almost one million dollars in legal fees. There’s no word on whether the conflict was ever resolved, but if it wasn’t, it’s nice to see the firm isn’t hurting for cash. [Legal Times]

    9 Comments / / Jul 9, 2015 at 9:05 AM
  • money pocketed by man in suit

    Crime, Law Schools, Money

    Law School’s Chief Financial Officer Arrested For Grand Theft

    This is an active criminal investigation, and the CFO has been charged with a felony.

    19 Comments / / Jul 8, 2015 at 10:59 AM
  • She really wants him to enter his time.

  • gavel money (2)

    SCOTUS, Supreme Court

    The SCOTUS Financial Disclosure Forms They Really Hope You Don’t Read

    The Supreme Court shines light on the justices’ finances in the most opaque manner possible.

    17 Comments / / Jul 6, 2015 at 1:47 PM
  • money falling from sky bonus salary student loans paid off

    Biglaw, Bonuses, Money

    Associate Bonus Watch: Biglaw Summer Bonuses!

    Which firm could possibly be so generous?

    16 Comments / / Jul 2, 2015 at 10:57 AM
  • Sorry, summers, but this is going away soon.

    Morning Docket

    Morning Docket: 06.30.15

    * Which Biglaw firm is going to be changing up the way that it recruits new attorneys? That would be Quinn Emanuel. It’s planning to majorly scale back on summer associates and do something completely different. We’ll have more on this news later today. [WSJ Law Blog]

    * An undergrad who once had high hopes for law school decided to ditch his legal aspirations in favor of stand-up comedy. His mom is mad since it’s a “path that has no specific stability.” She obviously hasn’t read up on law school job stats lately. [Indy Channel]

    * Justice Kennedy should consider trading in his robes for a superhero’s cape, because he just swooped in to the rescue, again. With a 5-4 vote, SCOTUS stayed the Fifth Circuit’s decision regarding the closure of the majority of abortion clinics in Texas. [NPR]

    * Damn you, Dewey leaders! Per recent testimony in the criminal trial of the failed firm’s former top brass, but for news of the criminal probe spreading like wildfire throughout the profession, D&L could’ve merged with any number of firms to save itself. [Am Law Daily]

    * Some pretty major firms think they have better things to spend their Biglaw bucks on than donations to legal aid organizations. Only five firms were willing to publicly disclose more than $1 million in donations. [DealBook / New York Times via American Lawyer]

    10 Comments / / Jun 30, 2015 at 9:01 AM
  • Keith Lee

    Money, Small Law Firms, Solo Practitioners

    Do These Charts Spell Doom For Solo Practice?

    It’s a sink or swim situation for new lawyers entering solo practice, and there are no life preservers available or rescue boats coming to help them.

    6 Comments / / Jun 25, 2015 at 3:45 PM
  • Hillary Clinton

    Morning Docket

    Morning Docket: 06.23.15

    * Hillary Clinton is making a mad dash for Biglaw bucks to support her presidential run. This week, she’ll be at an event hosted by Sullivan & Cromwell, and next week, she’ll be at an event hosted by a Chadbourne & Park partner. Ooh la la, fancy schmancy! [Bloomberg Politics]

    * Dewey know why this firm failed? Back before D&L declared bankruptcy, the firm’s most successful rainmakers were asked to give up half of their gigantic salaries in an attempt to stave off the worst… but they didn’t want to. We suppose that’s the way the cartel crumbles. [Am Law Daily]

    * Bickel & Brewer, the fearsome Texas litigation boutique, recently broke up, and now it’ll simply be known as Brewer. John Bickel, who invoked the firm’s partnership retirement clause, is now ensconced as senior counsel at Fish & Richardson. [Texas Lawbook]

    * This career services dean is here to tell you a tale about law school job stats. You see, law schools don’t have an unemployment problem — instead, they have a “J.D. Advantage” problem (aka, jobs they took because they couldn’t get lawyer jobs). [Huffington Post]

    * This is yet another reason why people are considering Fordham’s Fashion Law LL.M.: “Every designer should have a minimum degree of legal literacy, if only to know when to seek a legal opinion — and to avoid being sent to sit at the kids’ table.” [New York Times]

    20 Comments / / Jun 23, 2015 at 9:00 AM
  • Businesswomen on White

    Biglaw, Rankings, Women's Issues

    Which Firms Offer Women The Most Power And Highest Pay? (2015)

    In a profession ruled by men, these Biglaw firms have taken steps to level the playing field for women.

    10 Comments / / Jun 22, 2015 at 1:14 PM
  • See ya, Judge.

    Morning Docket

    Morning Docket: 06.19.15

    * Ouch! The Florida Supreme Court just unanimously told a lower court judge to STFU and GTFO. Judge Laura Watson, who was elected to her position in 2012, was summarily ousted from the bench for shady conduct that took place before her judgeship commenced. [Sun Sentinel]

    * The ABA postponed making a decision on whether it’ll approve a merger between Hamline Law and William Mitchell Law. Not to worry, everything will be okay. Come on, as if the ABA would let a failing law school completely crash and burn. [MPR News]

    * We mentioned this week that Hank Greenberg won his A.I.G. bailout suit, but we didn’t get around to the part where Davis Polk got quite the judicial spanking from an “irritated” judge — and the firm wasn’t even named as a defendant. [DealBook / New York Times]

    * Uh oh. It looks like Ellen Pao just got “powed.” Judge Harold Kahn has tentatively ruled that Pao must pay about $276,000 in trials costs to Kleiner Perkins. (Special thanks go out to ATL commenter Paul Harvey for this clever little quip.) [Digits / Wall Street Journal]

    * Micah Green, a prominent lobbyist at Squire Patton Boggs, is headed for greener pastures at Steptoe. He’s the latest rainmaker to leave, which makes us wonder if the firm will be satisfied with only being able to make it drizzle. [PowerPost / Washington Post]

    19 Comments / / Jun 19, 2015 at 9:02 AM