* Fast moving developments in the Boston case. The FBI wanted your help finding these guys. Now it says one is already dead and the other is on the run. [New York Times]
* Wow. The accused ricin mailer is messed up. [Washington Post]
* Lawyer turns down an $8M settlement and wins $130M. If you believe the New York Post. And you shouldn’t. [New York Post]
Facebook went public less than a week ago. But, not unexpectedly, a lot has happened in the few days since. As with many highly anticipated events (e.g., the Star Wars reboot and Barack Obama’s presidency) a lot of the reaction to Facebook’s IPO has been negative and filled with disappointment.
We’ve already got shareholder lawsuits against Facebook and the NASDAQ stock exchange, a privacy lawsuit settlement, and questions about how the IPO may have revealed broader problems about the way the system works. On the upside, the company’s GC, Ted Ullyot, has been making headlines in a more positive way, which is to say the dude is making mad bank for someone working in-house.
* There’s a new chief legal officer at Morgan Stanley: Eric Grossman, a former Davis Polk partner, replaces Frank Barron, a former Cravath partner (who joined Morgan Stanley not that long ago; if you know more about this odd situation, email us). [Bloomberg Businessweek]
* Will anybody be surprised if it turns out that Ron Paul likes to fire people too? [Politico]
* Most people will just ignore the balanced budget amendment as proposed by Chuck Woolery (yes, that Chuck Woolery), but on the off chance that somebody actually says to you, “You know, Chuck Woolery has some really good ideas,” here’s somebody who took the time to smack the Chuckster down. [Recess Appointment]
You know the only thing worse than getting run over by some rich joker in a Mercedes-Benz? Getting run over by a rich joker in a Mercedes-Benz who gets a slap on the wrist because his Mercedes-Benz is a brand-new Mercedes-Benz.
Dr. Steven Milo knows that pain all too well. Our sister site, Dealbreaker, explains the situation:
Back in November, it was reported that last summer, Morgan Stanley financial adviser Martin Joel Erzinger… had driven over a doctor who was on his bike and then kept going, “until he reached a Pizza Hut parking lot, where he stopped and called Mercedes auto assistance to report the damage to his vehicle.”…
The part of the story that was somewhat more shocking was that rather than be slapped with serious to quite serious charges, a court decided that for his crime, MJE would be hit with two misdemeanor traffic violations and restitution to the victim. People were somewhat outraged, to say the least. But! That was prior to hearing all of Marty’s side of the story.
According to Erzinger’s defense lawyers, Erzinger suffers from sleep apnea, and that condition was exacerbated by the new car smell of his month-old Mercedes. And that all caused him to lose consciousness during the hit-and-run fiasco.
I knew having a new Mercedes was a status symbol; I didn’t know it was a designer drug…
It’s not every day that a partner leaves the storied firm of Cravath, Swaine & Moore. But it’s not every day that a suitor with comparable prestige, wealth, and WASPiness comes calling. Dealbook reports:
Morgan Stanley said on Thursday that it has hired Francis P. Barron, a partner at the law firm Cravath, Swaine & Moore, as its chief legal officer. Mr. Barron will replace Gary G. Lynch, who will remain with Morgan Stanley as a vice chairman in London…. The hiring is the latest management shake-up under James P. Gorman, Morgan Stanley’s chief executive since the beginning of the year.
At Cravath, where he has worked for 32 years, Mr. Barron specialized in litigation, corporate matters and advising boards. Among his clients are financial firms like Morgan Stanley, Citigroup, UBS and Goldman Sachs, as well as General Electric.
Moving from a law firm to Wall Street isn’t uncommon. On New York magazine’s recent list of hottest Wall Street bachelors — co-authored by Bess Levin, of our sister site Dealbreaker, and Jessica Pressler — two out of the 15 “foxes of finance” have law degrees (one from Harvard and one from Seton Hall).
A move at this high a level, from a Cravath partnership to an investment bank, is less common. But such moves happen — and, interestingly enough, Frank Barron isn’t even the first ex-Cravath partner to wind up in a top position at Morgan Stanley….
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at asia@kinneyrecruiting.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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* Fast moving developments in the Boston case. The FBI wanted your help finding these guys. Now it says one is already dead and the other is on the run. [New York Times]
