Partner Issues

Buying In: Hi Mom!

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I am a lucky guy. I have two true partners in life: my mother and my wife. They each contribute to my happiness in different, but equally vital, ways. To them, I wish a Happy Mother’s Day.

Even though my mom does not know I write this column. When I write things related to my legal practice, I try and send her copies. But she is relatively new to email, and she is always busy between her kids and growing collection of grandchildren. I am not sure she reads what I send her. Nor is she that impressed with any of my career accomplishments. But that is fine, and truth is, she needn’t be. That is not the standard, just as my career accomplishments are not my standard for success in life. It is more important that she take pride in the family I have built, as that is truly my life’s work.

I am not qualified to talk about what being a mom in Biglaw is like (father, yes, as I have been a father for my entire Biglaw career). From observation, being a mom in Biglaw looks very difficult. It is one thing if you are a partner with teenage kids, and you went to law school after your kids reached grade-school age. Biglaw partner moms are generally a rare breed. What I see more often are associates and junior partners struggling to balance the demands of having and raising children with trying to advance in Biglaw. Very rarely are both objectives accomplished. I have tried to think about how I would feel if I was in such a situation. Unsuccessfully. Honestly, even if I was married to Oprah, I could never see myself playing stay-at-home dad, or even having primary responsibility for the children while trying to have a legal career. So I respect the mothers out there that are at least trying….

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Morning Docket: 05.13.13

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Ted Ullyot

* Given the name and origins of the Tea Party movement, it actually makes perfect sense that their groups got grief from the IRS. [Washington Post]

* Wachtell Lipton weighs in against the practice of shareholder activists offering special compensation to director nominees. [Dealbook / New York Times]

* A law professor, Joshua Silverstein, argues that schools should embrace grade inflation. (But haven’t most of them done this already?) [WSJ Law Blog]

* Facebook shareholders might not “like” this news, but Ted Ullyot plans to step down as general counsel after about five years. We’ll have more on this later. [Corporate Counsel]

* The Brooklyn DA’s office is reopening 50 murder cases that were worked on by retired detective Louis Scarcella (who looks oh-so-savory in the NYT’s photo of him). [New York Times]

* In news that should shock no one, Nicholas Speath’s dubious discrimination case against Georgetown Law has been dismissed. [The BLT: The Blog of Legal Times]

* Not long after leaving Cravath for Kirkland, Sarkis Jebejian is putting together billion-dollar deals for private-equity clients. [Am Law Daily]

* Professor Jeffrey Rosen reviews an interesting new book, The Federalist Society (affiliate link), authored by Michael Avery and Danielle McLaughlin. [New York Times]

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Legal Careers in the Global Age of More for Less: Insights from Professor David Wilkins of Harvard Law

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The legal profession has changed greatly over the almost seven years since the launch of Above the Law. Do these changes amount to a paradigm shift? Or are they just a temporary blip that will eventually be reversed?

Professor David Wilkins, Director of the Program on the Legal Profession at Harvard Law School, is one of the most astute and well-informed observers of law as both a profession and an industry. In his recent keynote at the NALP annual education conference, Professor Wilkins considered these questions, and also shared his predictions about the future of the legal profession….

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How Did Biglaw Fare in the First Quarter of 2013?

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I was recently chatting with a young litigation partner about how the year was going for his firm thus far. He confessed it was off to a sluggish start. He was not extremely busy himself, but he said that his colleagues on the transactional side were practically twiddling their thumbs.

He wondered: was this slowness specific to his firm, or was the legal industry in general not exactly going gangbusters? I shared with him my sense, admittedly anecdotal, that 2013 to date has been pretty “meh.”

Now we have actual data on the first quarter. My partner friend should be relieved. Misery loves company….

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Lawyerly Lairs: A Small-Firm Lawyer’s Big-Ticket Apartment

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1010 Fifth Avenue is just steps away from the Metropolitan Museum of Art (visible in the background).

Biglaw isn’t the only source of big bucks. In fact, some of the wealthiest lawyers in America are plaintiffs’ lawyers who work on their own or in small law firms.

But you don’t need to be a plaintiff-side lawyer from Texas to strike it rich. A partner at an elite litigation boutique in New York just bought an apartment once owned by a famous business mogul.

Let’s see what $12.5 million buys in the Big Apple these days….

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ATL Interrogatories: 10 Questions with Richard Wiley of Wiley Rein LLP

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Ed. note: This is the latest installment of The ATL Interrogatories. This recurring feature will give a notable law firm partner an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.

Richard Wiley is the nation’s preeminent communications lawyer. He served as chairman of the Federal Communications Commission, where he fostered increased competition and lessened regulation in the communications field. Mr. Wiley played a pivotal role in the development of HDTV in this country, serving for nine years as Chairman of the FCC’s Advisory Committee on Advanced Television Service. As head of the firm’s communications practice group (the largest in the nation), his clients include Verizon, AT&T, JP Morgan, Credit Suisse, Motorola, and CBS. Mr. Wiley is a graduate of Northwestern Law and holds an LLM from Georgetown.

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Morning Docket: 05.08.13

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Casey Anthony

* “Is there a public interest in unwanted pregnancies … that can often result in abortions?” The judge who ordered that Plan B be made available to all women regardless of age is pissed at the DOJ. [The Caucus / New York Times]

* Mary Jo White, the littlest litigatrix, will “review” the Securities and Exchange Commission’s policy of allowing financial firms to settle civil suits without affirming or denying culpability, but for now, she’s defending it. [Reuters]

* Dewey know what this failed firm is supposed to pay its advisers for work done during the first nine months of its bankruptcy proceedings? We certainly do, and it’s quite the pretty penny. [Am Law Daily]

* In a round of musical chairs that started at Weil Gotshal, Cadwalader just lost the co-chairs of its bankruptcy practice and another bankruptcy partner to O’Melveny. [DealBook / New York Times]

* Another day, another law school comparison website. Take a look at Law Jobs: By the Numbers, which includes a formula from the laughable National Jurist rankings system. [National Law Journal]

* In a move that shocked absolutely no one, attorneys for Colorado movie theater shooting suspect James Holmes announced they will enter a plea of not guilty by reason of insanity for their client. [CNN]

* From the “hindsight is 20/20″ file: the judge who presided over the Casey Anthony trial thinks there was enough evidence to convict the ex-MILF. He also likened Jose Baez to a used car salesman. [AP]

* Check out Logan Beirne’s book (affiliate link). Even when sensationalizing George Washington’s rise from general to president, attention must be paid to the rule of law. [Wall Street Journal (sub. req.)]

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Mother-at-Law: Cravath’s First Woman Partner

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Friendly reminder: Mother’s Day is this Sunday. If you haven’t done so already, you should buy your cards or gifts — and make your brunch reservations — NOW.

In honor of this occasion, we bring you an interview with a working mother whose professional journey is nothing short of remarkable. She went from working as a law firm switchboard operator to becoming the first woman partner of Cravath, Swaine & Moore….

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Buying In: Some Reflections on the Am Law 100 Rankings

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I have been thinking about how to explain the Am Law 100 rankings to a layman. Quite frankly, there is little use in trying to engage in a productive discussion of the rankings with colleagues. One segment of the Biglaw population is fixated on the fictional profits-per-partner figure, while another marvels at the “global reach” and exploding headcounts of the giga-firms. Some like to talk about the firms they interviewed with in law school, while others only care about the firms that have stronger resources in their practice areas. If you are in Biglaw, or hoping to be, you will come up with your own way of making sense of it all. Have fun.

What is more interesting to me is the following question: How can a normal person relate to this year’s Am Law 100 rankings? Put another way, if I was told that I was eligible for a large cash prize if I could explain the Am Law 100 chart to ten random strangers in a way that was compelling to them, what would I say?

Think about your own answer, then keep reading….

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A Mysterious Partner Departure — Plus Stealth Layoffs? — at Cleary Gottlieb

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Many fine things can be said about Cleary Gottlieb. It’s prestigious (#8 in the latest Vault rankings). It’s profitable (#10 in the recently released Am Law 100 profit-per-partner rankings). It’s pleasant, known for a nice firm culture.

So what are the downsides of Cleary? Here’s one: the firm might be a bit… boring.

As you can see from our archives, we don’t write that much about Cleary. And when we do, it’s not always exciting stuff — e.g., Cravath-matching bonunses. Yawn.

Well, today we bring you some news about Cleary that might be at least slightly juicy: a mysterious partner departure, and possible stealth layoffs….

UPDATE (2:30 p.m.): Now with an important update, a statement from the partner in question.

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