Ruth Bader Ginsburg, who has been making quite a bit of news this SCOTUS off-season, has issued the final battle cry of every divine-right monarch, abusive spouse, and aging quarterback. In an interview with Reuters, the still-sharp Ginsburg said: “So tell me who the president could have nominated this spring that you would rather see on the court than me?”
When reached for comment in the privacy of his own mind, I really hope the President thought: “You must not know ’bout me, You must not know ’bout me. I could have another you in a minute. Matter fact she’ll be here in a minute, baby.”
Ruth Bader Ginsburg is a fantastic justice — is, not “was.” She will likely continue to be a fantastic justice right up until the very moment of her death. We will never see her like again.
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.
Of the roughly 36,000 partners in Biglaw, roughly 6,800 (18.8%) of them are within a few years of or have surpassed (and then some) the mandatory retirement age. Lawyers 55 or older make up about 1/3 of the practicing partners in the Am Law 200, a figure that will likely hold steady as the tail end of the baby boomer generation ages. Am Law 200 law firms have on average about 34 chairs, executive members, and senior partners whose 35-plus years of experience, client relationships, and leadership must be transferred to a new generation of rising stars. The process is hardly ever smooth and often involuntary.
Most partners in senior vintages begrudge the practice of mandatory retirement; some bemoan that it is an overcautious safeguard or the epitome of ageism. Some claim the practice is supported by scientific studies that link cognitive decline with advancing age — especially after 65, which is about the average for mandatory retirement. However, with advancing medical standards the idea of being forced to retire at 65 may soon seem ludicrous, but for now, how many law firms are prepared to deal with the void left by these partners?
We’ve written from time to time about senior judges, the most senior of whom was Wesley E. Brown of the District of Kansas, who remained on the bench until his death at age 104. We’ve even written about lateral moves made by nonagenarians to highly esteemed Biglaw firms, likely performed with the aid of a walker. We’ve never written about centenarian Biglaw attorneys, presumably because there are very few of them, but that’s about to change.
Fear not, clients, for that’s not a blood stain on your legal documents. It’s prune juice, because a 101-year-old lawyer was working on your deal, and he needs to stay regular to keep his billable hours up.
Which Biglaw firm is keeping this extremely senior counsel on its payroll?
We’re midway through Biglaw’s second quarter, and this will be the third week in a row we’re covering law firm layoffs or buyouts of some variety. This just goes to show that no matter how well a firm does, it’s always looking to do better, and the easiest way to do so is by managing human expenses.
Sometimes the firms attempting to trim their ranks are members of the “Super Rich,” with high revenues per lawyer (at least $1 million) and even higher profits per partner (at least $2 million). Other times, these firms are rich but not super-rich — firms that generally saw “modest, hard-won gains” last year, according to the American Lawyer.
The firm we’re writing about today falls into the latter group, with relatively small financial gains in 2013. Despite this, it’s still offering “very generous” packages to inspire employees to walk away….
In January, we brought you word of a Florida state-court judge who posted a sex ad on Manhunt. We covered the news, first broken by JAAblog, since we are fond of stories about sexy judges. But we did not judge. Instead, Staci Zaretsky wrote of Chief Judge David Audlin, “more power to him if [the photos are] real. Everyone needs to get some, even judges.”
Last week, Judge Audlin resigned from the bench, apparently because of L’Affaire Manhunt. With all due respect to the judge, this strikes me as a bad decision….
Surprisingly this lawyer isn’t named “Captain Obvious.”
He’s James Kidney, an SEC Enforcement lawyer who joined the agency in 1986 and served there ever since with a four-year detour to work at Aetna. At his well-attended (about 70 people) retirement party, he fulfilled the dream of every retiring employee and called out the B.S. he’d witnessed in his years on the job. And at the SEC, that B.S. dealt mostly with a revolving door culture of fearful superiors more interested in harassing low-level offenders while turning a blind eye to anyone with responsibility on Wall Street.
I recently had dinner with the dean of a law school. To give you a sense of this person’s perspective, I’ll say that he (or she, but I’ll use the masculine) is responsible for a law school that U.S. News ranks somewhere between 50 and 100. His school has thus been hammered by the Great Recession and the decrease in applications to law school, but the school is not (yet) thinking of turning out the lights.
I didn’t actually pry into what was happening at his school. He simply volunteered that his life was far different now than it had been a very few years ago. I guess that’s no surprise, given the tumult of the times.
Anyway, what are law school deans doing these days?
The legal profession is not what it once was. It seems like every week, we’re writing about the same topics, over and over again: tumbling profits, partner departures, and layoffs. Biglaw’s focus on the bottom line is even sharper than in years past, and that means that when firms are hurting for cash, the first thing they’ll cut is “excess” personnel.
Not so fast, though, because to our knowledge, this leading law firm isn’t desperately seeking dollars, and it’s not conducting layoffs just yet, either — instead, generous buyout packages are being offered…
When a Biglaw firm gets a new chairman, you can be relatively sure that things are going to change, especially if the firm is in the middle of the pack in terms of size and profitability.
Sure, the firm might have been happy being in its Goldilocks position before, but this is the New Normal. Maybe being not too big, but not too small just isn’t going to work anymore.
This firm may have the urge to merge — it’s already spoken to “three or four” potential partners. As we know, with mergers come reductions in redundancies, and it seems like this firm is looking to slim down to be a more attractive mate.
Which firm are we talking about, and how many heads are expected to roll with its planned cuts?
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Sunny Choi of Ms. JD suggests five New Year’s Resolutions for every associate’s wallet.
Being financially conscious requires a disciplined mind and willpower similar to what you would need to succeed at losing weight. You’re not going to lose those 10 pounds by carving out an exception, for say, your daily caramel latte from Starbucks. No ifs, ands. or buts when it comes to meeting financial goals. If you’re ready for the challenge, here are some ideas for New Year’s resolutions that you can tailor to your personal financial needs.
1. Aim for quarterly progress in paying down your law school loans.
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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.