* Even at the top of the in-house food chain, women lawyers are still paid less than their male counterparts. But hey, at least they’re not being forced to cry poverty like their in-house staff attorney brethren. [Corporate Counsel]
* Neil Barofsky, the former King of TARP in the United States, is making the move to Jenner & Block, specifically because as opposed to all other firms, “Jenner took the side of really getting to the truth of the matter.” [Reuters]
* Luxury fashion is fun: four Biglaw firms, including Cleary Gottlieb, Cravath, Torys, and Proskauer Rose, all took Tim Gunn’s mantra to heart to make it work for the $6 billion sale of Neiman Marcus. [Am Law Daily (sub. req.)]
* If you want to try some lawyer, we hear that they taste great when poached this time of year. Speaking of which, Troutman Sanders just reeled in three attorneys from Hunton & Williams. [Richmond BizSense]
* Are you ready for some tax law?! The NFL and other professional sports leagues might lose their nonprofit status if new tax reform legislation makes it through the House and the Senate. [Businessweek]
* Today is most likely going to be a banner decision day for the Supreme Court, so in wild anticipation, SCOTUS expert Nina Totenberg was on call to answer some need-to-know questions for the people about the innermost workings of the Court. [NPR]
* One of the opinions we hope will drop at the Supreme Court today is that of the Fisher v. Texas affirmative action case. If you want some hints on how the three justices who attended Princeton (not counting Kagan) might rule, check this out. [Daily Princetonian]
* Justice Samuel Alito is out in Texas where he threw the first pitch — “a bit wide of the plate” — in last night’s Rangers game. Will SCOTUS unleash anything important in his absence? [Washington Post]
* Meanwhile, while we eagerly await decisions in the gay marriage cases next week, consider for a moment the possibility that this is all just but a gigantic train wreck waiting to happen. [New Republic]
* Things are heating up in North Dakota where the battle over abortion regulations continues to rage on. What a shame, especially since we supposedly took care of this stuff in the early 70s. [ABC News]
* “If this is what these women signed up for, who is anybody to tell them differently?” Two pimps were acquitted of sex trafficking after prostitutes testified on their behalf. [Thomson Reuters News & Insight]
Today, SCOTUS is all about the gays, and soon enough, it’ll be back to helping white people overcome affirmative action, but soon — very soon I imagine — some court is going to have to step up and reaffirm a woman’s right to choose. Or strike it down and rouse the overwhelming majority of people who support choice out of their complacency.
But quietly, abortion is under attack. And so we’re going to have to have this fight again.
And when we do, wherever we fall, we’re going to have to update Roe v. Wade to take account of the miracle (or madness) of modern science.
North Dakota just signed in the most restrictive abortion law in the nation, more restrictive than Arkansas’s new law that has received more publicity. But some of the new restrictions seem, almost, enlightened….
So we’re going to try something different today. We’re heading to the heartland, where there are some major real estate bargains to be had.
Have you ever fantasized about selling your $500,000 (or $1 million or $2 million) home in an expensive coastal city, buying a $250,000 place in a less expensive part of the country, and pocketing the difference (so you can live off it for a while)? Keep reading….
Gainful employment nine months after graduation, FTW.
We cover the gloom-and-doom in the legal job market quite well here at Above the Law. But there are happy stories out there too — and not just for the top graduates of top law schools.
This is the story of Fred (not his real name; he asked to remain anonymous). Fred graduated in 2011 from a well-ranked but not super-elite law school — a top 50 school, but not a top three, top six, or even “T14″ school. He was not at the top of the class, nor was he on the law review. Many of Fred’s similarly situated classmates are unemployed or underemployed, drifting from one contract-attorney or paralegal-type job to another.
Fred is much better off than many of them. He has a job that he enjoys. He works for two weeks, followed by two weeks of vacation. He makes somewhere between $60,000 and $100,000 a year, with the exact amount depending on how much he wants to work. And if things go according to plan, in a few years he could be earning $250,000 a year (or more).
Right now some of you are dying to know: What does Fred do, and how can I get this job?
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.