Partner Profits
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Morning Docket
Morning Docket: 03.16.15
* Last week in court, a murder suspect in Louisiana apparently pooped his pants during a case status hearing, wiped said poop all over his face, and muttered to himself that “life is like a box of chocolates.” Sorry about that crappy candy, dude. [New Orleans Advocate]
* According to early Am Law 100 data, New York’s most elite and prestigious firms have once again broken away from the rest of the pack when it comes to both revenue and partner profits. Biglaw’s best may be back to models and bottles. [Am Law Daily]
* Michelle Lee, the first woman to ever serve as director of the USPTO, was sworn in on stage at SXSW Interactive. Michelle Lee, who worked with the Girl Scouts to issue a patent patch (instead of more makeup and sewing patches), is pretty damn awesome. [Mashable]
* The federal judiciary has plans to decrease the word limit of appellate briefs from 14,000 to 12,500, and lawyers are pissed. Lawyers from Brown Rudnick say it could result in more acronyms, confusing construction, and less “punctilious citation,” oh my! [WSJ Law Blog]
* Lee Smolen, the ex-Sidley Austin partner who faked $69,000 in travel expenses while at the firm (and possibly $379K more), has been suspended from practice for one year and will have to undergo psychiatric treatment. [Legal Profession Blog via ABA Journal]
* Taking New York’s lead, California is considering requiring all would-be attorneys in the state to complete 50 hours of pro bono work within one year of being admitted. Leave it to people who don’t know what they’re doing yet to close the justice gap. [Los Angeles Times]
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Biglaw, Partner Profits
Eye-Popping Profits At Latham & Watkins
Last year was a very good year for Latham. How good are we talking? - Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get… -
Morning Docket
Morning Docket: 02.11.15
* Today’s inspirational human being: An ordained minister in Alabama was arrested after offering to perform a same-sex marriage inside a probate judge’s office. She says she’ll do it again, even though she knows she’ll likely be rearrested for doing so. [USA Today]
* Meanwhile, Judge Callie V.S. Granade will hear arguments on whether she must order Alabama judges to issue marriage license to gay couples. Granade is the one who ruled the state’s ban was unconstitutional in the first place. [New York Times]
* Per Major Lindsey & Africa’s 2014 Partner Compensation Survey, women partners have finally beaten men when it comes to law firm compensation. Wait, no, that’s not true, it’s just an “anomaly,” and “[t]hese women might be outliers.” [The Careerist]
* Blank Rome’s ex-chairman donated $5M to Villanova Law to establish an ethics and compliance center. You’re a few years too late, pal. The school could’ve used an ethics and compliance center to avert its admissions scandal. [Philadelphia Inquirer]
* “The legal profession can benefit from more diversity. Should those students only attend low-ranked law schools? Absolutely not.” As we mentioned previously, law school diversity has improved, but only at the bottom. [National Law Journal]
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Biglaw, In-House Counsel, Partner Issues
The Imminent Capitulation Of Many Big Firms
Is this the year that some Biglaw firms will admit they can't keep up with the rest? Thoughts from in-house columnist Mark Herrmann. -
Morning Docket
Morning Docket: 02.04.15
* When we first reported on this former law school dean’s arrest for prostitution, we weren’t sure if he was the alleged john. Now we know: SMU Law’s John Attanasio allegedly offered to pay an undercover officer $100 for “specific sexual acts.” [Dallas Morning News]
* It seems that a lawyer in Nebraska lost his “special pen” at the courthouse, and he’d really like it to be returned to him. It’s not just any pen — it’s a $500 Montblanc Meisterstück. Help this man get his prestigious pen back. [Omaha World-Herald]
* The early numbers on Cadwalader’s ranking in the Am Law 100 seems to indicate that would-be chair James Woolery got the hell out while the getting was still good. The firm’s profits per partner dropped by 15.3 percent in 2014. Ouch. [Am Law Daily]
* “Being in the law school business looked like a good idea. Those days are over.” Enrollment continues to decline at law schools across the country, and in Virginia, class sizes are about 20 percent smaller than they were in 2011. [Roanoke Times]
* When it comes to the recent murder-suicide of two Tulane Law students, “[p]eople are really surprised and baffled about what happened” because they say there were no warning signs. If you’re depressed, please seek help. [New Orleans Advocate]
* Given the fact that children’s vaccinations have become a topic presidential candidates are debating, you should know that almost half the states allow anti-vaxxer parents to opt-out. Thanks for the measles, everyone! [WSJ Law Blog]
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Biglaw, In-House Counsel
3 Predictions For The Legal Profession in 2015
In-house columnist Mark Herrmann looks back on the predictions he made for 2014, which turned out to be correct, and makes new predictions for 2015. -
Biglaw, Boutique Law Firms, Small Law Firms
Beyond Biglaw: A Superstar League
How is "superstar" culture changing the landscape of Biglaw? -
Biglaw, Small Law Firms, Texas
8 Mistakes Your Law Firm Might Be Making
If you're doing any of these things, you're doing it wrong. - Sponsored
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm. -
Biglaw, Edwards Angell Palmer & Dodge, Edwards Wildman, Law Firm Mergers, Locke Liddell & Sapp, Locke Lord, Locke Lord Bissell & Liddell, Partner Issues, Partner Profits
Law Firm Merger Mania: Locke Lord / Edwards Wildman Deal Wins Approval
When will the merger go into effect, and how big will the post-merger firm be? -
Biglaw, Books, Events, In-House Counsel, JPMorgan Chase, Outsourcing, Partner Issues, Partner Profits, Pictures, Small Law Firms
Law Firms And The No-Longer 'New' Normal: Insights On 7 Key Subjects
The fate of the billable hour, how small firms can compete with large ones, the evil of profits per partner, and more. -
Bankruptcy, Biglaw, Citigroup, Dissolution, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
A Closer Look At The Morgan-Bingham Deal
Sources say that Bingham will NOT go bankrupt. -
Bankruptcy, Biglaw, Dissolution, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
Bingham To Go Bust In Wake Of Morgan Lewis Raid
What is the fate of Bingham after Morgan Lewis's "mass lateral hire" of 226 Bingham partners? -
Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
Bingham McCutchen Readies Itself For Rescue
Will Bingham go the way of Patton Boggs or Dewey & LeBoeuf?
Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The Business Case For AI At Your Law Firm
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Partner Issues, Partner Profits
Stat Of The Week: The Rich Get Richer
Almost 30 years ago, profits per partner at Am Law firms averaged around $309,000 (or $623,000 in current dollars). The PPP for that same group in 2014? -
Biglaw, Conferences / Symposia, In-House Counsel, Money, Partner Issues, Partner Profits
How Did Biglaw Do In The Third Quarter Of 2014?
Some firms should be happy, but others should be worried. -
Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
Bingham Cancels Partner Retreat; Will The Morgan Lewis Deal Go Through?
How bad are things looking at Bingham right now? -
Biglaw, Edwards Angell Palmer & Dodge, Edwards Wildman, Intellectual Property, Lateral Moves, Law Firm Mergers, Locke Liddell & Sapp, Locke Lord, Locke Lord Bissell & Liddell, Musical Chairs, Partner Issues, Partner Profits, United Kingdom / Great Britain
Could Defections Derail The Edwards Wildman / Locke Lord Merger?
Who is leaving Edwards Wildman, and what implications might this have for the Locke Lord transaction? -
Biglaw, Lateral Moves, Musical Chairs, Partner Issues, Partner Profits
Musical Chairs: Kirkland Snags A Skadden Partner, But A Simpson Partner Stays Put
Kirkland continues to raid rivals, offering eye-popping pay packages. -
Biglaw, Boutique Law Firms, Duval & Stachenfeld, Midsize Firms / Regional Firms, Money, Partner Issues, Partner Profits, Real Estate, Small Law Firms
Reinventing The Law Business: Making Partner -- Doing The Math
Why are large law firms so stingy when it comes to making new partners? -
Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
Bingham McCutchen: Is The Patient Stabilizing?
What are the latest revelations about the state of affairs at troubled Bingham McCutchen?