* What is up with Georgia judges? Another one bites the dust: Judge Douglas Pullen leaves the bench, terminating an investigation by the Judicial Qualifications Commission. [Atlanta Journal-Constitution]
* You call that a raise? After 12 years of stagnant salaries for state judges, New York’s Commission on Judicial Compensation sure has a funny way of “correcting injustice.” [New York Times]
* Hope you had some D.C. firms on your bid list for OCI, because they seem to be on a hiring spree. Is there room for all of these newbies? [Washington Post]
* Maybe if we let Jacoby & Meyers get some non-lawyer investors, they could afford better commercials. Come on, even the ABA thinks the law should be run like a business. [New York Law Journal]
* O’Melveny wants to give new parents advice on transitioning back to work. After losing talent earlier this year, perhaps the firm could have used some transition advice itself? [The Careerist]
* My parents “ruined my life” a lot when I was a teenager, but I never sued over it. Unfortunately for these plaintiffs, being a snotty little brat isn’t a valid cause of action in Illinois. [Chicago Tribune]
Here in the great state of New York, marriage equality is the order of the day — as it is in five other states, plus D.C.. But due to the Defense of Marriage Act, the federal tax code does not recognize same-sex unions. As a result, as explained by the law firm of McCarter & English, “the Internal Revenue Code treats the value of employer-provided healthcare benefits for a civil union or domestic partner as ‘imputed income’ to the employee. This means that employees who elect domestic partner benefits must pay income tax on the value of those benefits, which is in direct contrast to employees with different-sex spouses.”
To address this inequality, a number of law firms — including McCarter & English, as of this June — have adopted what we here at Above the Law have dubbed the “gay gross-up.” This benefit consists of “a bump in income such that, post-tax, the employees are in the same position as similarly situated employees electing healthcare benefits for their opposite-sex spouses.”
In addition to McCarter, a number of prominent law firms have adopted this policy since our last report. Let’s find out which ones….
UPDATE (8/25/11): We’ve added to the list since it was originally published. See the updated list below.
Welcome to our latest round-up of summer associate offer rate news. This post contains the latest list of law firms and offices with 100 percent offer rates. In future posts, we’re going to shift gears and focus on firms with lower-than-average offer rates.
An offer rate that’s lower than 100 percent is not necessarily newsworthy. The fall recruiting process by which summer associates are selected isn’t perfect. Sometimes candidates look great on paper and do well during interviews, but then do something during the summer — turning in disappointing work product, getting drunk and acting inappropriately — that causes them to get no-offered. And sometimes people get no-offered for reasons that aren’t their fault — office politics, discrimination. Stuff happens.
We’re not expecting 100 percent offer rates all around. At the same time, there is such a thing as an unusually low offer rate. If you know of an office with an unusually low offer rate — which we will arbitrarily define here as something under 66 percent, or two-thirds — please email us (subject line: “[Firm Name] Offer Rate”).
Now, on to the updated list of firms and offices with 100 percent offer rates….
Since our initial call for information about summer associate offer rates at major law firms, a number of people have contacted us with reports. As it turns out, there’s a lot of good news floating around out there for summer associates.
This leads us to two conclusions:
Biglaw firms only brought in people they could actually hire.
You class of 2011 people are some boring individuals.
Honestly, listening to your summer stories is like looking at the Facebook photos of a Mormon school group’s vacation to Amish country. We know that people are worried about getting offers in this tough market, but the risk-aversion of the summers this year borders on cowardice.
Live a little, have a drink, ask her for her number. It’s a job interview, not an audience with the Pope.
In any event, 100% offer rates abound. Let’s round them up….
Last week, summer associate programs began to draw to a close. After a summer of funextravagance work, summer associates are eager to find out if they’ll be getting offers of full-time employment.
We expect the answer to be yes at most places. Sure, during the height of the recession, no offer rates spiked. But Biglaw firms seem to have corrected that problem. As almost any jobless 3L can tell you, firms simply started hiring fewer people to be summer associates in the first place.
What’s bad news for many 3Ls is good news for those who were lucky enough to snag summer associate positions. You know what they say: getting in is the hardest part. Right?
Above the Law has received various reports from summer associates at Biglaw firms, crowing about 100 percent offer rates….
Congratulations to Bradley Butwin, firm-wide chair of litigation at O’Melveny & Myers. The firm just announced that Butwin, a 51-year-old, New York-based partner, will take over from A.B. Culvahouse Jr. as chairman of the firm. The timing of the handover remains to be determined.
The news from earlier this week continues that trend. Allen & Overy is opening a second U.S. office with, you guessed it, O’Melveny partners (specifically, financial regulatory partners Barbara Stettner and Chris Salter, and counsel Charles Borden).
Up until now we’ve been reporting that there has at least been stability in OMM’s firm leadership. But that may no longer be the case. Today’s report suggests that firm chairman A.B. Culvahouse Jr. may be forced out sooner rather than later….
UPDATE (7/2/11): Additional comment from the firm, after the jump.
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: