Partner Issues

Danica McKellar

If you watched The Wonder Years when you were younger, Winnie Cooper was probably one of your first crushes. If you’re too young to remember that much about this television show, think of Topanga Lawrence from Boy Meets World. If you’re too young to remember that television show, then we’re dating ourselves, but sorry, but we can’t help you. Google it!

It seems that Danica McKellar, the actress who played Winnie Cooper many moons ago, is still a heartbreaker. Yesterday afternoon, she announced to the world that she was engaged to a very handsome Biglaw partner.

Who is he? Let’s find out…

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Chief Judge Loretta Preska

According to Black’s Law Dictionary (affiliate link), a judicial diva is “a particularly confident, skilled, and physically attractive female judge.” By this definition, Chief Judge Loretta Preska (S.D.N.Y.) is a judicial diva. She is highly regarded, as both a judge and an administrator, and she never looks anything short of fabulous.

I’ve been fascinated by Judge Preska for years. I had this to say about her back in 2004 at my first website, Underneath Their Robes: “Magnificent. Tall, thin, elegant. Great bone structure, perfectly coiffed silver hair. Note to self: nominate for superhotties contest next year?”

This gorgeous judge now owns a gorgeous apartment. Chief Judge Preska and her husband, a partner at one of the nation’s most profitable law firms, just paid almost $9 million for a penthouse apartment on the Upper East Side….

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Insider trading is one of those activities that you should avoid. If you’re a lawyer, it’s an activity you should definitely avoid. It’s not really all that hard to steer clear of insider trading either. Obviously there are some murky cases, but it’s wise to err on the side of caution.

On the other hand, there are also cases where the SEC says a close friend of a company’s executive is emailing you and telling you which days to buy because “[e]arnings are being released on the 30th along with some good news,” and “[l]ooking forward to getting paid back. Good luck…. SHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!” Those are the cases where you probably should walk away.

Put aside the insider trading: what lawyer is using email to have these conversations?

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Germany has won the World Cup. The final game was a low-scoring 1-0, but nonetheless a thrilling hair-puller of missed opportunities on both sides. The single goal, in minute 113, was an elegant, technically perfect two-touch volley — all the more impressive because it was delivered by a 22-year-old substitute who did not join the game until the second half.

The game was also a contrast of different playing styles. Argentina built its offence around a star striker, Lionel Messi, who was expected to execute a well-timed stroke of veritable futbol magic that would hopefully usher his country to its third World Cup victory. Backing him was a deep-sitting defense that repeatedly stifled German goal-scoring attempts, but was nevertheless not expected to score absent some Messi magic. By contrast, Germany lacked a superstar of the world-renown of Messi. Instead, its playing style prioritized short, deft, technical passing among the team as a whole. The victorious Germans carefully worked the ball through various mid-field channels until, eventually, it reached the back of the opponent’s net.

I am not an avid soccer fan, but like many Americans, I tune into the World Cup every four years. Who was I rooting for?

double red triangle arrows Continue reading “Beyond Biglaw: Tiki-Taka Teamwork”

* Congrats to William Voge, who was elected as the new chairman of Latham & Watkins. He succeeds Robert Dell in this position, who is one of the Am Law 100’s longest-serving leaders. [Am Law Daily]

* Dewey’s former execs filed a motion to dismiss their criminal charges, lamenting the fact that the Manhattan DA made them “scapegoats” for the total failure of their firm. [DealBook / New York Times]

* A judge banned the Washington Redskins name from his court, proclaiming that the offensively monikered team shall be known only as “the Washington Team” in documents submitted. [WSJ Law Blog]

* Senate Majority Leader Harry Reid thinks that if it were up to Judge Judy, House Speaker John Boehner’s “show trial” suit against President Obama would be thrown out in “half a second.” Well then. [ABC News]

* A Michigan attorney was arraigned yesterday on a felony charge of homicide-solicitation of murder. It seems that the hired hitman warned his target. He’s not getting a good Yelp review. [UpNorthLive.com]

* If you’re an international student with a foreign law degree trying to get a law degree in the U.S., why the hell would you waste your money on a J.D.? Just get an LL.M. [Law Admissions Lowdown / U.S. News]

* Oh baby8: Nadya Suleman (formally doing business as Octomom) pleaded no contest to welfare fraud charges after she failed to report income from all of her public appearances and porn videos. [Reuters]

The average high temperature for Houston in July is a scorching 94 degrees. It’s one hot legal market.

Figuratively as well as literally. Back in April, for example, we talked about Kirkland & Ellis opening a Houston office — and prying away partners with $5 million pay packages. You don’t need to be a high-powered partner to get in on the fun; even junior to midlevel associates are getting offered signing bonuses when they lateral.

And this hot market is only getting hotter. Who’s the latest major law firm to land in Space City?

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Judge Emmet Sullivan

* Judge Emmet Sullivan (D.D.C.) wants the IRS to explain, in a sworn declaration, how exactly it lost Lois Lerner’s emails. [WSJ Law Blog]

* And the fun for the IRS continues today in the courtroom of Judge Reggie Walton (D.D.C.), as reported by Sidney Powell, author of Licensed To Lie (affiliate link). [New York Observer]

* Speaker John Boehner wants to take the Republicans’ crusade against Obamacare to the courts. [New York Times]

* Andrew Calder, the young M&A partner that Kirkland & Ellis snagged from Simpson Thacher for a reported $5 million a year, is already bringing in big deals. [American Lawyer]

How the cupcake crumbles: the once-successful venture of an NYLS grad and her husband needs a rescue.

* “Duke University is not and never has been in the business of producing, marketing, distributing, or selling alcohol.” Some bros down in Durham disagree. [ABA Journal]

* If you see something… sue someone? The ACLU and Asian American civil rights groups, together with some help from Bingham McCutchen, have filed a legal challenge to the Suspicious Activity Reporting database. [New York Times]

* Congrats to David Hashmall, the incoming chair of Goodwin Procter — and congrats to outgoing chair Regina Pisa, the first woman ever to lead an Am Law 100 firm, on her long and successful leadership. [American Lawyer]

* A group of investors might end up devouring Crumbs, the cupcake-store chain founded by New York Law School grad Mia Bauer that suddenly shut down this week amid talk of a bankruptcy filing. [Wall Street Journal (sub. req.)]

With this year more than halfway done, let’s look in the rear-view mirror and survey managing partners’ confidence in the legal industry during the second quarter of 2014. Wall Street investors seem generally optimistic, at least based on the state of the stock market (despite today’s turbulence). Are law firm leaders similarly hopeful?

Survey says — well, nothing terribly exciting, but let’s have a look anyway….

double red triangle arrows Continue reading “Managing Partners Take Survey; What Happens Next… Won’t Amaze You”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

If you stood outside the AT&T Center on June 15th at 9:10 p.m. local time, you would have witnessed a steady stream of crestfallen Miami Heat fans bemoaning the performance of anyone other than Lebron James. Ask any of those fans if they thought Chris Bosh was worth a max contract in the off-season and they most likely would have answered “No!” with feverish enthusiasm.

Fast forward to the off-season, teams have now expressed interest in signing Bosh to a max-contract sheet. As it stands on Thursday, July 8, the Rockets are willing to pay him $22 million a year.

So what does this mean for you? It means that just because your law firm tells you that you’re worth a certain amount of dollars does not mean you can’t secure more greenbacks. Salary negotiations are tricky, and it is helpful to get in touch with a recruiter before you attempt to renegotiate with your current firm. Before you start maneuvering, here are five pointers to consider before strategizing…

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Bruce Stachenfeld

I guess at heart I am a competitor. I want my law firm to be the absolute top law firm in the world – at least in our niche of being The Pure Play in Real Estate Law.

I would like us to be loved by clients — loved by lawyers — incredibly profitable — the greatest law firm that ever hit the legal world. And to do this I need to crush my competition — right?

Or maybe not right. Let’s think about this a bit and see what happens….

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