The Empire State Building, lit up with the colors of the Philippine flag to show support for Typhoon Haiyan victims. (Photo courtesy of Natalie Navarrete.)
When disaster strikes, lawyers are there (and not just to hand out their business cards). Lawyers and their law firms have responded swiftly and generously in the wake of natural disasters, giving of their time and treasure to help the victims of calamities around the world.
Lawyers and their law firms, especially Biglaw firms, have come to the aid of people affected by Hurricane Sandy, the Japanese earthquake and tsunami, and earthquakes in Haiti and China. We have chronicled and commended these efforts in Above the Law over the years.
In light of this track record, it should come as no surprise that one of the world’s top law firms is giving generously to support relief efforts in the Philippines, my ancestral homeland, where thousands have died due to Typhoon Haiyan (local name Yolanda). Which firm, and how much is it giving?
101 Central Park West: home to celebrities, a billionaire’s daughter, and an in-house counsel.
Earlier this year, we wrote about a commendable initiative at Pace Law School called New Directions. It’s a program devoted to helping lawyers who have left the profession, many of them stay-at-home mothers, get back into the world of practice.
The New York Times profiled a few of the program’s graduates. One of them, Jeannette Rossoff, graduated from Boston University School of Law, worked at Shearman & Sterling for a few years, then left the workforce for twenty years to raise four children. After her children were grown, she completed the New Directions program, interned for the New York State attorney general’s office, then landed an in-house job with a nonprofit.
It’s nice that Mrs. Rossoff is back to practicing law, but it certainly wasn’t necessary. If you can afford to live in a $12 million apartment with monthly maintenance charges of almost $7,000, “work” is optional….
Andrew Kravis, recent Columbia Law School grad and new millionaire.
Congratulations to Andrew Kravis. He graduated from Columbia Law School this past May, but he’s already earned enough money to pay off all his student loans.
And no, he doesn’t work at a hedge fund or private equity firm. He doesn’t even work in Biglaw. He’s a public interest lawyer, about to start a fellowship at Lambda Legal, the nation’s oldest and largest legal organization working for LGBT civil rights. He was honored upon graduating from CLS as one of two students “who have demonstrated outstanding achievement in the furtherance of lesbian, gay, bisexual, and transgender rights.”
So how did this outstanding do-gooder also do so well? How did he earn enough money to pay off all his student loans, and then some — a cool $2.6 million, to be exact?
This is some quality dissembling. Dean William Treanor of Georgetown Law decided to enter the fray by responding to the New America Foundation report that I wrote about last week that claimed that Georgetown Law was using a loophole to use its public service debt repayment program to profit off the federal government. By way of recap, the school agrees to pay off the income-based payments of its students in the federal income-based repayment plan itself, then raises tuition for the next crop of students and uses that money to pay off their payments later, creating a big circle where tuition is artificially (if only marginally) inflated and taxpayers pick up the tab and the school pockets the profit.
Dean Treanor’s response attempts to deflect the criticism, but the article misses the entire point of the controversy.
* With the Supreme Court’s term winding quickly to a close, it’s likely that conservative justices will write for the majority in some of the most closely watched and controversial cases. Uh oh. [Washington Post]
* Judge Edward Korman, the man who slapped around the FDA like it owed him money in a ruling over access to the morning-after pill, is actually a very soft-spoken, kind-hearted fellow. [New York Times]
* Wherein a Chicago Law professor and a Vedder Price partner argue that instead of cutting law school down to two years, financial aid should be given out like candy. Hey, whatever works. [Bloomberg]
* Brooklyn Law’s got a whole lot of drama these days: Their president is stepping down, their dean is apparently still a full-time partner at Patton Boggs, and a law professor is suing over alleged ABA violations. [New York Law Journal]
* That’s not the only New York-area law school awash in scandal. Chen Guangcheng has received the boot from NYU Law due to alleged harm done to the school’s relationship with China. [New York Times]
* When questioned about the need for his school, Indiana Tech’s dean says the lawyer oversupply and lack of jobs don’t matter. It’s about the quality of the graduate. Good luck with that! [Journal Gazette]
* This came too soon (that’s what she said). The alleged porn purveyors at Prenda Law will close up shop thanks to the costly litigation surrounding their copyright trolling. [Law & Disorder / Ars Technica]
* Fort Hood shooter Maj. Nidal Hassan won’t be allowed to use a “defense of others” strategy in his murder trial, because not only does it fail as a matter of law, but it’s also ridiculous. [Associated Press]
* Harvard Law grad Cate Edwards, daughter of disgraced pol John Edwards, took a dramatic step away from her father’s tabloid-esque pubic interests by opening her own public interest firm. [WJLA ABC 7]
* Judge Thomas Jackson, well-known for his antitrust ruling against Microsoft, RIP. [New York Times]
Here at Above the Law, we try to pay attention to every sector of legal employment. We often find ourselves skewed rather heavily toward Biglaw, but as we all know, not everyone wants to work in Biglaw — including some of the people who are ensconced in high-paying Biglaw jobs themselves.
Imagine a place where you won’t be shackled to the billable hour. Imagine a place where you’ll get all government holidays off without having to worry about showing up just for the sake of appearances. Imagine a place where your clients are people, not corporate entities. If that seems nice to you, it’s because it is.
Today, we’re going to open the floodgates for the members of our audience, prospective law students in particular, who aspire to some day work in government and public interest jobs. Which law schools should you be considering if you’d like to have the best odds of reaching your goal?
* Celebrated litigator David Boies thinks the Supreme Court is going to rule in favor of gay marriage in a united front — which is helpful, since in March he’s arguing in favor of gay marriage in the Prop 8 case. [USA Today]
* “What we had to do was do more with less.” Archer & Greiner had to lay off 14 attorneys and 27 staffers thanks to the firm’s rapid overexpansion via mergers. This is why we can’t have nice things. [New Jersey Law Journal]
* In New York / Concrete jungle where dreams are made of / There’s nothing you can’t do / Now you’re in New York / Law deans will try to inspire you / But rankings will ruin you / Hear it for New York! [New York Law Journal]
* If you’d like to save the world by working a public-interest job, you’d better consider Penn Law. Its LRAP now covers all IBR loan payments over 10 years for a total savings of up to $140,000. [National Law Journal]
* But then again, if you’re not interested in public-interest work, you can always get a temp job, where you’ll allegedly make as much as “a mid-level associate at a small or medium firm.” [U.S. News & World Report]
* Because Lindsay Lohan’s lawyer was called out by a judge for a performance that was almost as piss poor in his client’s in Liz & Dick, he contacted a local firm to step in and assist him. [L.A. Now / Los Angeles Times]
Ah, UVA Law School. I’ll be the first to admit that we’re often a little harsh on this particular law school, but that’s only because it’s so damn easy to do. When we write about UVA Law, the jokes virtually write themselves.
But let me tell you, it’s a rare day when we’re able to tell students from this school to pop their collars with pride, and we actually mean it without a hint of sarcasm. Today we’re going to congratulate a student from UVA for an accomplishment that everyone with student loan debt wishes they could achieve.
This young woman appeared on live television and was handed thousands of dollars to pay off her loans, just for being a decent human being. How much was she able to walk away with?
Later today, Chief Justice John Roberts will swear in President Barack Obama for Obama’s second term as President of the United States. Hopefully they’ll get it right this time.
President Obama, of course, is the first African-American to serve as POTUS. His election and recent reelection show how much progress our nation has made over the years in terms of racial equality and justice.
Much of that progress can be attributed to Dr. Martin Luther King Jr., the pioneering civil rights leader whose birthday remember today. Dr. King was born on January 15, 1929, and the holiday in his honor is observed on the third Monday of January.
In honor of the holiday, we don’t plan on publishing much (if anything) today. Feel free to scroll back through the archives and read stories you might have missed from last week.
If you’re looking for something to do, you can use today for public service. Look up service projects in your area at MLKDay.gov. Happy Martin Luther King Jr. Day!
UPDATE (11:00 AM): As noted in the comments, today’s ceremonial swearing-in will be the second one for President Obama’s second term. He was formally sworn in yesterday “because the official start of his second term landed on Sunday. The Constitution says the president’s term expires on Jan. 20 at noon.”
As law firm associates and partners rejoice over their bonuses and profits, we urge you to keep in mind the importance of giving back this holiday season. The law firm of Skadden Arps certainly does, through its support of the Skadden Fellowships. It’s fitting that word of the new Skadden Fellows always comes out around this time of year.
In case you’re not familiar with it, the Skadden Fellowship program has been described as “a legal Peace Corps.” It was established in 1988, in honor of Skadden’s 40th anniversary as a law firm, and it supports graduating law students committed to public interest work as they embark upon specific projects at sponsoring organizations.
How many fellowships were awarded this year? Which law schools do the fellows come from?
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: