What do you get when you cross Top Chef with Mark Cuban’s The Benefactor (anybody remember that? HA), steal half the name of America’s Next Top Model, and throw in inexplicably famous “chef” Curtis Stone? Only the single greatest reality show on NBC during the 8 p.m. time slot on Sundays: America’s Next Great Restaurant.
This groundbreaking pilot’s premise is that people who did boring things with their lives because they were too poor or risk-averse pitch restaurant franchise ideas to Curtis, Bobby Flay, and two other judges that nobody recognizes, who then back the winner with money from NBC’s budget their own wallets to open three identical restaurants so they can fail in three different cities at the same time.
As you may have guessed, America is not watching, the show is not Great, and I somehow doubt that The Spice Coast (or whichever proposed restaurant wins) will threaten the national hegemony of McDonald’s, although I might order it from Seamless Web. If I liked Indian food. Which I do not.
In any event, competing in “ANGR” is one of our own…
Paul Hastings is throwing cash around. At least, that’s the impression it’s trying to give off. Unlike the firms that announced regular bonuses back in December and spring bonuses in the new year, Paul Hastings held off on a December bonus announcement and is only now coming out with its full bonus package.
And Paul Hastings isn’t a straight lockstep firm. Paul Hastings lists some bonus amounts available to the top-performing associates, but because of various merit factors, most associates will not be receiving those top figures, and some are not eligible for a bonus at all.
So while there is money flying all around the Paul Hastings bonus memo, it’s hard to tell how much of it will stick to real Paul Hastings associates…
The spinning of the revolving door at the beleaguered Howrey law firm is making our heads spin here at Above the Law. Keeping track of all the partner departures is becoming quite the challenge. We’ve collected some links about the latest partner defections, after the jump.
At this rate, it’s not clear how many lawyers will be left for “rescue” by white knight Winston & Strawn. (Protip: check the armor for bedbugs.)
Here’s some new (but hardly surprising) information: Howrey has canceled its summer program. Yes, the famous Howrey Bootcamp, touted by the firm as “[f]ar more intense and rewarding than traditional summer associate programs,” and offering “an entirely unique approach to associate recruitment and training.”
Bootcamp participants received intensive litigation training — and inspirational poetry from firm CEO Robert Ruyak, which we share with you below….
One of our odd obsessions around here: real estate. Just take a spin through our Lawyerly Lairs archives, which chronicle the adventures of attorneys in the world of real property, residential and commercial. We may not be as real obsessed as the folks over at Curbed, but we’re getting there.
As a former resident of Washington (2006 to 2008), I take a particular interest in D.C. developments. And not just litigation between law firms and burger joints.
So I was interested to learn about McDermott Will & Emery’s big move — to a building that will be named after the law firm. How many law firms get naming rights?
(Not many. The most prominent example might be the Paul Hastings Tower in Los Angeles, which had a cameo in the Transformers movie.)
We’ve gotten away from plowing through the latest Vault Rankings, but fear not. Your firm is coming up soon.
We’ve been through the top 30 firms. But now we’re getting into a group of firms that really utilized the cost-cutting measures of salary cuts and layoffs to weather the recession of 2009. Did these guys take a big prestige hit? Not really. Here’s the next batch of firms:
For two weeks we’ve been getting reports about Paul Hastings bonuses. Many people claim that they received bonuses on par with the Cravath scale. But there have been a dedicated few who claim they were jobbed by the firm at bonus time. This tipster captures the general feeling:
PH bonuses were just announced [last month] and some crazy stuff has been going on. The top performers are getting totally screwed as PH has a bonus grid and is not allowing anyone to go off of that set chart. The result is that the best people with the strongest evals and tons of hours are getting barely any more different than their peers who did the bare minimum. There are some extreme and specific examples.
We’ve been able to solve the mystery. Paul Hastings gave out Cravath-level bonuses in all of their offices except Atlanta. In Atlanta Paul Hastings tried to match the Atlanta market for total compensation — which resulted in bonuses below the Cravath scale. The firm gave us details on its decision….
This is, like, WOW. We don’t quite know what to say.
This departure memo, sent by an associate leaving the San Francisco office of Paul Hastings, is extraordinary. It also confirms the rumors — which have swirled about for quite some time, but without confirmation until now — of associate layoffs at PH.
We’re reaching out for comment to the associate in question and to Paul Hastings. But we wanted to put this up ASAP, to break the story first.
Farewell email below (with a handful of minor typos corrected). “Transition Agreement and General Release,” after the jump.
Sent: Monday, May 05, 2008 10:14 AM
Subject: My departure
The circumstances surrounding my departure from Paul Hastings have been deeply disappointing. It is one thing to ignore an email sent as a colleague is waiting to have her uterus scraped after a miscarriage, but it is wholly another level of heartlessness to lay her off six days after that. [Partner X] is the only one who expressed any sympathy after my miscarriage, and I am grateful to him for that.
A business is a business, but it takes very little to convey some level of humanity to carry out even the most difficult business decisions. We are human beings first before we are partners or associates. Had you simply explained that the department is unable to sustain the number of associates in the office, I would have completely understood. Had you explained that the office had been directed to reduce the number of associates and I was chosen because of my high billable rate and low billable hours, I would have appreciated such directness, even though the consequences of blindly raising billable rates to an unsustainable degree is plainly predictable. What I do not understand is the attempt to blame the associate for not bringing in the business that should have been brought in by each of you and to hide your personal failures by attempting to tarnish my excellent performance record and looking to undermine my sense of self esteem.
The last few months have been surreal, at best. Just last year, I had celebrated my engagement and marriage with many of you. In fact, during the engagement party, the head of the department took my then-fiancée aside to express to him what a great attorney I am and what a great future I faced. Indeed, less than a week before this year’s bizarre performance review, I was again told by the same partner that my work is great and that the slow business in no way reflected on my performance. A week later, I was given a mediocre performance review and told that I should worry about whether I have a future at Paul Hastings. When I asked for specific examples of my alleged deficiencies, I received no response. When I asked for an explanation as to why I had been downgraded in so many performance categories when I received absolutely no criticism throughout the year and my prior year’s review was stellar, I was told that my prior year’s performance assessment may have been “over-inflated.” What a startling response.
After my miscarriage, I had discussed my concern with several associates that Paul Hastings may use that opportunity to lay me off quickly before I have a chance to get pregnant again. Those associates thought it unfathomable that a firm would be so callous and assured me that Paul Hastings isn’t that kind of a place. What a lesson this has been for them – and for me. I would not have anticipated that a partner would tell me one thing and completely renege on his words a week later. I would not have anticipated that a female partner (whom I had looked to as a role model) with children of her own would sit stone faced as I broke into tears just days after my miscarriage. Even a few words of sympathy or concern would have made a world of difference. What kind of people squander human relationships so easily?
If this response seems particularly emotional, perhaps an associate’s emotional vulnerability after a recent miscarriage is a factor you should consider the next time you fire or lay someone off. It shows startlingly poor judgment and management skills — and cowardice — on your parts. If you should ever have the misfortune of suddenly losing something or someone precious to you, I hope you don’t find similar heartlessness as I have.
As for your request for a release, non-disclosure, and non-disparagement agreement in return for three months’ pay, I reject it. Unlike you, I am not just a paid mouthpiece with no independent judgment. I will decide how and to whom to communicate how you have treated me. I find it ironic that you would try to buy the right not to be disparaged after behaving as you have. Your actions speak volumes, and you don’t need much help from me in damaging your reputation.
I attach the proposed release for any associate who may be interested in reviewing its details.
And that’s all she wrote. The release that Paul Hastings wanted this associate to sign, after the jump.
Update (5:10 PM): We have heard back from the associate in question, who had no additional comment.
Update (8:20 PM): Previously posted in the comments, but now we can bring it up to the main page. Here is Paul Hastings’s statement, from Eileen King, Global Director of Public Relations:
“We disagree with the person’s description of what occurred, but unfortunately we don’t comment on internal employment matters.”
Update (5/6/08): Blog reactions to this story are collected here. Additional discussion of pregnancy discrimination cases appears here. Lawyer layoffs at Paul Hastings are covered here.
Further Update (5/9/08): The author of the email, Shinyung Oh, has gone public and given an interview. See here.
The day that many of you have been waiting for has arrived. Today ATL goes to ATL: the fair city of Atlanta!
Based on NALP forms and priornewsarticles, it seems that starting salaries in the Big Peach generally range from $130,000 and $145,000 (similar to Philadelphia).
At $130K: Alston & Bird; Arnall Golden Gregory; King & Spalding; Kilpatrick Stockton; McKenna Long & Aldridge; Morris, Manning & Martin; Paul Hastings; Powell Goldstein; Smith Gambrell & Russell; Sutherland Asbill & Brennan; Troutman Sanders; Womble Carlyle.
At $135K: Jones Day
At $145K.: Dow Lohnes; Hunton & Williams; McGuireWoods; Schiff Hardin.
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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