PPP

* Oh my God, Debevoise & Plimpton is dropping its entire trusts and estates practice. Was the economy the cause? What about the eight soon-to-be-unemployed lawyers? And most importantly, what would Josh Lyman’s father think?! [DealBook / New York Times]

* Major props go out to everyone at O’Melveny & Myers for hitting an all-time high in terms of both profits per partner ($2.06 million) and revenues per lawyer ($1.1 million). Here’s hoping the bonus situation reflected those incredible numbers. [Am Law Daily]

* We probably should’ve known when Pepper Hamilton acquired the Freeh Group back in August that exciting things would happen. Say hello to Louis Freeh, the firm’s new chair. [Thomson Reuters News & Insight]

* Are we supposed to be surprised that the Millennials who are considering applying to law school are more self-confident than those who preceded them? They’re all special little snowflakes! [National Law Journal]

* If you’re taking the LSAT on Saturday, here are some tricks to keep yourself focused. But don’t worry, it’s only one of the most important tests you’ll ever take. [Law Admissions Lowdown / U.S. News & World Report]

* Sorry, George Zimmerman, but even though you’re poor, your trial isn’t going to be delayed. Perhaps Judge Nelson made this announcement to serve as a poetic birthday present for Trayvon Martin. [Orlando Sentinel]

* Aside from writing powerful opinions that will last the ages, being a mentor “is the most valuable thing” this Supreme Court justice can do. Sonia Sotomayor: motivational speaker? [New York Times]

* Aww, poor Biglaw partners. You want bigger cuts of your firm’s profits, but according to the latest Peer Monitor report, expectations like that are incredibly “unrealistic.” [WSJ Law Blog (sub. req.)]

* This actually isn’t something women like to shop for: the $200 million class action suit over the Greenberg Traurig “boys club” is currently being held up in two federal courts by arbitration and forum shopping issues. [Am Law Daily]

* With news that the legal industry is shedding jobs faster than the ABA can accredit more unnecessary law schools, career services officers must be hanging their heads in shame. [Thomson Reuters News & Insight]

* Dear law schools, your crappy business model is making us take a look at all crappy higher education business models, and we don’t like what we’re seeing here. Pls hndle thx. XOXO, Moody’s. [Washington Post]

* This is justice, Texas style: District Attorney Mike McLelland says the reward fund for tips in the brutal slaying of ADA Mark Hasse will grow to an “astronomical amount” until the killers are found. [Dallas Morning News]

* This lawyer allegedly had a fling with his sister-in-law out of the goodness of his heart, and in return, she accused him of sexual assault. Now he’s suing her for $7 million. You can’t make this sh*t up. [New York Post]

* In trying to get $700 in tickets dismissed, this lawyer says the U.S. Postal Service is immune from state and local traffic regulations. Other USPS immunities include not losing my mail on a regular basis. [USA Today]

‘Jail? No thank you.’

* Congratulations to Cadwalader Wickersham & Taft! The firm saw its first revenue increase in three years, with profits per partner jumping up 11.6 percent, yet they didn’t top Cravath’s bonuses. Rude. [Am Law Daily]

* Thanks to the firm’s association with Ponzi schemer Nevin Shapiro, Shook Hardy & Bacon was accused of aiding and abetting in securities law violations and is facing a multimillion-dollar suit. [Miami Herald]

* Lawyer glut? What lawyer glut? Let’s open some new law schools, yayyyy!!! Despite the fact that applications are at their lowest in a decade, new schools are still throwing their doors open wide. [Wall Street Journal]

* With the dean of Seattle University School of Law stepping down, Annette Clark, she of the most epic St. Louis University Law resignation letter, may get a second bite at the proverbial deanship apple. [National Law Journal]

* “Flattery doesn’t get you anywhere in this court.” Wooing the judge won’t work, so Lindsay Lohan’s new lawyer has a tough row to hoe — he had to pick up Shawn Holley’s pieces AND deal with his client. [Fox News]

* Ed Koch, former mayor of New York City and judge of “The People’s Court,” RIP. [New York Times]

Casey Anthony: Paralegal?

* “[W]e cannot continue as a nation with 11 million people residing in the shadows.” And we especially can’t have all those people in the shadows without hundreds and hundreds of drones in place. Civil liberties be damned! [Huffington Post]

* According to this Wells Fargo survey, Biglaw did quite well in terms of revenues last year. Given that PPP was up nearly five percent, it’s now appropriate to bitch about why your bonuses weren’t even bigger than they were. [WSJ Law Blog (sub. req.)]

* “Being a lawyer is a damn good profession.” To be fair, it could be an even better profession if things in legal education were subjected to some serious change, and Hofstra Law’s new dean seems to understand that. [New York Law Journal]

* Stoners everywhere would like to know when the federal government is going to legalize marijuana, but to be frank, they should thank their Lucky Charms they’re not getting prosecuted in states where it is legal. [TIME]

* Russia is officially trying to prosecute a dead man — a dead lawyer, no less. That said, we’re pretty sure it’s safe to say that not even Yakov Smirnoff himself could come up with a reversal for this one. [New York Times]

* Oh my god, some of Lat’s pop culture prophecies are coming true: Casey Anthony wants to become a paralegal. Nancy Grace is in the process of birthing a herd of cows over Tot Mom’s ambitions. [ABC News]

* The grand jury in the JonBenet Ramsey murder case thought there was enough evidence to indict the Ramseys on child abuse charges. This would’ve been a great thing to be outraged about in 1999. [CBS News]

* I’ll be tweeting from the LegalTech show today. Follow me on Twitter to get all the latest updates. [Twitter]

‘Should I stay or should I go now?’

* Since Obamacare’s here to stay, states are scurrying to meet the health care law’s deadlines. Better hurry up, they’ve only got a week left to make a decision on insurance exchanges. [New York Times]

* “It’s been an interesting and tough four years. I just really don’t know. I don’t know at this point.” Two days after the election, it looks like Barack Obama may have to replace Eric Holder after all. [Blog of Legal Times]

* Managing partners at midsize firms are feeling good about about business in the coming fiscal year, and they’re even projecting higher profits per partner. And unicorns, too! [National Law Journal (reg. req.)]

* Where did a portion of the money behind Harvard Law professor and Senator-elect Elizabeth Warren’s Massachusetts race come from? Biglaw firms like Nixon Peabody and Mintz Levin. [Corporate Counsel]

* Apparently a convicted abortion doctor killer is trying to intervene in Paul Ceglia’s ownership case against Facebook via kooky letter. Sorry pal, but there can be only one Jonathan Lee Riches. [Wall Street Journal]

* Will the members of the Supreme Court announce which gay marriage issues they’ll be hearing this term any time soon? With Proposition 8 appeal and several DOMA appeals on hand, there’s certainly a lot for them to choose from. [CNN]

* It’s beginning to look a lot like Biglaw, everywhere you go: lawyers are miserable, clients are unhappy, and apparently profits per partner are all to blame. Gee, thanks for those rankings, Am Law, they were really helpful. [DealBook / New York Times]

* Instead of arguing over font size, the Department of Justice argued law yesterday during closing arguments in its attempts to convince a three-judge panel to strike down South Carolina’s voter ID statute. [National Law Journal]

* Unlike Elizabeth Warren, he’s no “Fauxcahontas”: Kevin Washburn, the dean of the University of New Mexico Law School, has been confirmed by the Senate to oversee the Bureau of Indian Affairs. [Washington Post]

* If you’re going to allegedly slash someone’s face in an attempt to defend your honor, at least do it with class like this Columbia Law grad, and use a broken champagne flute as your weapon of choice. [New York Post]

Jennifer Hudson

* At least two firms probably won’t be handing out spring bonuses like candy this year. While gross revenue remained steady at Dickstein Shapiro and Crowell & Moring, PPP dropped at both firms. [Legal Times]

* Not-so breaking news: the Thirteenth Amendment applies only to humans. It seems like the only people who didn’t already know that were the lawyers PETA hired for their orca whale slavery case. [Washington Post]

* Washington has approved a bill to legalize same-sex marriage, and Governor Gregoire has vowed to sign it. Wedding planners can prepare for a fabulous summer season, and divorce practitioners can create a new niche. [CNN]

* In China, lawyers are allowed to name their firms after imaginary people. Here in the United States, we’ve got laws against that, and for good reason. Because knowing Americans, we’d probably end up with a bunch of dueling Dewey, Cheatem & Howes. [Thomson Reuters News & Insight]

* Jennifer Hudson says, “And I am telling you, I’m not going — to speak to your lawyers.” William Balfour’s defense team wants to meet with her prior to his murder trial. [Chicago Sun-Times]

* Valentine’s Day is right around the corner, and if you’re still trying to find the best present for your crappy spouse, then look no further. This law firm is giving away a free divorce. [Charleston Daily Mail]

Is $160,000 a 'garbage' salary?

There’s an interesting post up on Constitutional Daily by The Philadelphia Lawyer. It’s a repack from a 2007 article arguing that salaries for first-year associates should go up to $190,000 a year.

And he’s right.

I know, I know — most Americans are still feeling the effects of a terrible economy. Occupy Wall Street is about to take pitchforks to those who are well-off in this country. Yada, yada, we’ll get back to the very sad story of America momentarily.

But you know who has done well over the last five years or so? Law firms. Especially Biglaw firms. Especially partners at Biglaw firms. Just look at the Am Law reports on profits per partner and revenue per lawyer. Firms are making money, more than they were in 2007.

Yet the associate salary scale hasn’t seen a raise for almost five years. And bonuses are down compared to 2007. Is it time for firms to start sharing the wealth?

double red triangle arrows Continue reading “New York to $190K? Actually, It’s About Time.”

Does anyone spy the truth?

The danger in having a for profit magazine in charge of collecting and publicizing critical information is that the magazine doesn’t have any oversight audit authority to confirm that its information is accurate.

As we mentioned in Morning Docket, the big scandal of the day involved the Citi Private Bank Law Firm Group unit suggesting that as high as 22% of the top 50 firms have inaccurate profits per partner numbers listed in Am Law.

The WSJ Law Blog now has the story up. This all could be a simple matter of Am Law counting “partners” differently from Citi. But these are the perils of trying to wrest information out of an industry that values secrecy over transparency….

double red triangle arrows Continue reading “Are Biglaw PPP Stats Any More Reliable Than Law School Employment Stats?”

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