Some former partners of the dearly departed Dewey & LeBoeuf claim that the firm could have survived if not so many partners had defected in the final months. The wishful thinking theory of these Dewey defenders is that if the firm could have held on to more of its top rainmakers, the plan of paying everyone back (slowly) and waiting for work to pick up might have succeeded.
Perhaps learning from Dewey, the leaders of embattled Patton Boggs have been trying to get partners to commit to staying as the firm restructures. Not long ago, managing partner Edward Newberry declared that about 90 percent of the firm’s partners agreed to stick around.
But 90 percent is not 100 percent. Today brings word of more Patton partners headed for the exits. How many? Who are they? And where are they going?
It was exactly a month ago that we first heard that Orrick was looking to join up with (read: bail out) Pillsbury. Today, the thrill is gone. Orrick and Pillsbury announced they were calling off the mega-merger saving us, our planned Very Special Episode of Legal Eagle Wedding Watch.
Would you rather be a great lawyer or be perceived as being a great lawyer?
For many people, I think the answer to that question varies over time: At age 30, you’d rather be a great lawyer. At age 60, you’d rather be perceived as being a great lawyer.
Because, over time, your reputation may come to track reality. If you’re perceived as great when you’re 30, but you’re actually no good, that truth may out over time. As you age, your reputation may catch up with you.
By the time you’re 60, your professional horizon will have shortened, and it’s less likely that the world will unearth your incompetence. If you’re perceived as being a great lawyer when you’re 60, you may well make it to retirement unscathed.
What of law firms? Would you rather that your firm be great or be perceived as being great?
* The Department of Justice won’t be harshing anyone’s mellow in Washington and Colorado just yet, because Eric Holder has more important things to do than to get involved in people’s pot. [CNN]
* The IRS will now treat all legal gay marriages the same as straight marriages for tax purposes, no matter where the couples live. That’s absolutely fabulous! [Federal Eye / Washington Post]
* Howrey going to deal with all of Allan Diamond’s unfinished business claims made as trustee on behalf of this failed firm? By claiming as a united front that “[c]lients are not property,” even if we secretly think they are. [Am Law Daily]
* In this wonderful post-Windsor world, the parents of a deceased Cozen O’Connor attorney are appealing a judge’s ruling as to the dispensation of their daughter’s death benefits to her wife. [Legal Intelligencer]
* Reduce, re-use, and recycle: environmentally friendly words used to reduce a Biglaw firm’s carbon footprint, not the number of its lawyers. Say hello to the Law Firm Sustainability Network. [Daily Report]
* Disability rights groups are coming forward to defend California’s LSAT anti-flagging law because the amount of extra testing time you receive should be between you and your doctor. [National Law Journal]
* If you thought Charleston School of Law was going to be sold to the InfiLaw System, then think again. The law school is up for grabs on Craigslist. Alas, the “[s]tudent body has been used.” [Red Alert Politics]
If you’re interested in purchasing Charleston School of Law, keep reading to see the ad (click to enlarge)…
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…