PPP

‘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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