If you are a connoisseur of social media, you’ve seen thousands of links and updates about the situation in Ferguson. You’ve seen a number of reports about the crisis in Gaza. You’ve been kept abreast about our military operations in Iraq. It’s been a busy August for news.
Of course, you’ve ignored most of those links and instead been on a targeted hunt for Ice Bucket Challenge vines. If you are over 40, let me explain: instead of giving money to support research on Lou Gehrig’s Disease, people are dumping buckets of ice water on themselves. Actually, most people are giving $100 to ALS research AND dumping buckets of ice water on themselves. Awareness! It’s working, so read this before you judge.
The… whatever this is has made its way to law school campuses, thanks to the UVA Law School Office of Career Services. As our tipster put it, there is video of UVA Law CSO “getting ice buckets dumped on them by a row of bros.” Does that sound like something you would like to see?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
For senior associates up for partner, firms have become increasingly focused on business potential and less so on an associate’s ability to outclass others in the courtroom or at the negotiating table.
In the days of yore, the partner track in Biglaw was oftentimes a reward for consistent competence and professionalism. In an era of PPP and RPL, most firms (other than the Cravath, Quinn, or Simpson Thacher types) are less likely to promote associates unless they see real revenue-generating potential.
If you find yourself in your fifth to tenth year and are unsure whether you will make partner, here are four steps to help you steer your career…
On Tuesday, the D.C. Circuit ruled against Matt Sissel, the Iowa artist and entrepreneur who challenged the Affordable Care Act’s individual mandate on the grounds that the law violated the U.S. Constitution’s Origination Clause. Article I, § 7, clause 1 requires that “all bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other bills.” Obamacare raises government revenue by billions of dollars, but it was drafted in the Senate. Judge Judith Rogers wrote the opinion in Sissel v. HHS for a panel including two newly minted Obama appointees, Judge Nina Pillard and Judge Robert Wilkins.
This ruling comes in the wake of last week’s dueling decisions in Halbig v. Burwell and King v. Burwell. Another D.C. Circuit panel found that Obamacare subsidies were illegal in the 36 states that refused to set up state healthcare exchanges. On the same day, the Fourth Circuit disagreed. In court battles, Obamacare opponents are winning some and losing some.
With unemployment rates still high for new law school grads, incubator programs sponsored by law schools and bar associations are gaining traction. Not to be confused with the profit-generating incubators common in the business and start-up world, the law school incubator concept, conceived by Fred Rooney at CUNY Law School, subsidizes new law school grads to start their own practices to provide “low bono” legal services.
In exchange for deeply discounting their fees, grads receive low-cost rent and training from more experienced attorneys. After 12-18 months in the incubator, these now practice-ready lawyers can move on to a position at a non-profit or continue to operate their firms on their own. Since the first law school incubator launched back in 2007, nearly two dozen others have cropped up at law schools and bar associations across the country.
* According to the latest Citi report, Biglaw was looking pretty good during the first quarter of 2014. Revenue was up by 4.3 percent — the best first quarter results since 2008. Hooray! [Am Law Daily]
* Nice work if you can get it: Gibson Dunn, the firm hired to handle New Jersey Governor Chris Christie’s “Bridgegate” investigation, billed about $1.1 million for roughly two weeks of work. [NJ.com]
* A “perfect storm” of too many grads and not enough jobs caused the decline in law school enrollment. The solution is obviously online learning instead of lowering tuition. Yep. [New Hampshire Public Radio]
* Our congratulations go out to Catherine Wauters of George Mason Law, winner of BARBRI’s inaugural public interest fellowship! (Our very own managing editor, David Lat, served as one of the judges.) [CNBC]
* The latest football franchise to face the wrath of underpaid cheerleaders is the New York Jets. Members of the team’s “Flight Crew” say they make less than minimum wage to shake their pom poms. [Bloomberg]
Aasif Mandvi accepting his Justice in Action Award last night at the AALDEF 40th anniversary celebration.
Last night, I had the privilege and pleasure of attending the 40th anniversary celebration of the Asian American Legal Defense and Education Fund (AALDEF). Forty years is a remarkable milestone, so everyone was in a celebratory spirit. Here’s my account of the evening, which also honored several leaders within the Asian-American community….
At last night’s LeGaL dinner: Alex Levy (a 3L at NYU), Mary Bonauto of Gay & Lesbian Advocates & Defenders (GLAD), and David Lat. (Photo by Jeff Trachtman.)
Last night, I had the great pleasure of attending the LeGaL Foundation Annual Dinner, which took place at Capitale here in New York. The mood was festive — which wasn’t surprising, given the successes of both LeGaL and the broader LGBT rights movement over the past year.
Here’s my account of the evening, a celebration of the Foundation’s 30th anniversary and an opportunity to honor some pioneers of the gay rights movement….
Whenever the government gets involved with “helping” students suffering under crushing debt obligations, I wonder if “the government” even partially understands how students think.
There is a new proposal in the budget that would bring significant changes to the student loan forgiveness program. Specifically, the “Public Sector Loan Forgiveness” program. Currently, students with massive amounts of debt can sign up for income-based repayment of their student loans. Their payments are capped at 10% of “discretionary” income. If they work in the public sector or for a designated non-profit, the government forgives the rest of their loans after ten years. For those playing along at home, that means that taxpayers pick up the rest of the bill.
Critics on both sides of the aisle (including me) argue that the current system encourages schools to charge whatever they want for tuition, while discouraging students from making cost-conscious choices about their debt. It’s far from ideal, and this new proposal seeks to do something about it.
But since Congress is involved, the thing they want to do to “fix it” is stupid and will ultimately hurt student borrowers even more….
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 seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!