History is littered with examples of Aussies sticking it to the Brits: from early convict rebellions to the time Rupert Murdoch bought our favourite tabloid newspaper, The Sun, and had a photo of a topless woman placed on its inside page each day — a tradition that continues to this day (semi-NSFW link).
Last week they were at it again when Australian law firm Slater & Gordon used some of the millions generated from its 2007 public listing — the first ever for a law firm — to snap up the large British personal injury firm Russell Jones & Walker (RJW), in an unprecedented £54m ($85 million) cash and shares deal. Once again, the people of the U.K. were left shaking their heads.
Of course, we should have seen it coming. British lawyers have been talking about the deregulatory provisions of the U.K. Legal Services Act (LSA) for years now. And it’s not as if we haven’t been watching the rapid growth of Slater & Gordon — where turnover, staff numbers and office locations have nearly tripled since the firm responded to Australia’s enactment of a similar law by going public — with eyebrow-raised interest from afar.
For some reason, though, we failed to put the two together….
* Obama took a break from his vacation to sign the NDAA. But don’t worry, as long as he’s president, he’ll never indefinitely detain American citizens. Oh boy, we get a one-year guarantee. [New York Times]
* “By your powers combined, I am Captain Primary!” Four Republican presidential candidates are joining forces to assist Rick Perry in his quest to conquer Virginia’s evil election laws. [Bloomberg]
The Financial Times Innovative Lawyers Awards ceremony, held in London last Wednesday, was most notable for the contrast between the puppy-like excitement of the lawyer nominees and the auto-pilot professionalism of the host, FT editor Lionel Barber, whose aura was of a man who’d rather be at home watching TV.
This was a shame, not only for the confused lawyers struggling to understand why Barber wasn’t high-fiving them as they collected their trophies, but because it overshadowed the setting of a world record. Never before has the adjective “innovative” — or its derivations “innovate,” “innovation,” and “innovator” — been used with such frequency in a single evening.
Between them, these four words featured in 14 of the 15 award names, peppered the subsequent acceptance speeches, dominated the copy of the awards brochure, and strangled the dinner conversation. Hypnotised by the repetition, I was convinced by the end that lawyers could see the future and were responsible for all of the great achievements of humankind.
However, having regained my sense of reality during the Tube ride home, it slowly dawned on me that most of the innovation I’d spent the last five hours being bombarded with wasn’t innovation at all, but simply lawyers doing their jobs. The “innovation in corporate law” award, for example, went to two law firms which acted on a merger, and the “innovation in dispute resolution” prize was given to a firm that won a case.
At other times, “innovation” was employed as a euphemism for not especially original ways to cut jobs….
I should have written about this days ago, but the pain was still too near to me. The humans have lost to the machines. We might as well start digging towards the Earth’s core, where it’s still warm, and start building our own Zion.
That’s just what the machines want you to think. Teaching a computer to understand the subtle nuances of trivia — the puns, the innuendos, the ordering of information — is frightening. It’s a lot different than writing an algorithm that allows a machine to work through all possible chess moves and pick the correct one.
It makes you wonder: “What else could a computer be taught to do?” Over at the WSJ Law Blog, Ashby Jones wonders if the answer might be, “Your job”….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: