Well, so much for that! Time for me to end my short-lived career as a fortune teller or law firm consultant.
Within minutes of my wondering whether firms might not match the generous 2012 Cravath bonus scale — and my suggesting, ever so gently, that firms might want to at least put some thought into whether matching made sense for them financially — one major law firm announced a match of the Cravath lucre.
When it comes to bonus payments, Simpson Thacher will not take a backseat to Cravath. Let’s get the details….
Hey, did you guys know that Asian people sometimes marry Jewish people? No? Well, the New York Times has noticed, and they’re totally on it! Here’s the paper’s investigative masterpiece on Asian-Jewish intermixing, which manages a paragraph linking Amy Chua and Jed Rubenfeld to the Beastie Boys.
We await a hard-hitting NYT piece on the cultural implications of the WGWAG.
Meanwhile, it’s high wedding season for couples of all races and creeds. Here are three of the most outstanding:
What is the deal with Biglaw partners and getting in trouble for drinking and driving? Just yesterday, we wrote about a Winston & Strawn partner and would-be ambassador to the Netherlands whose nomination was scuttled after getting charged with a DUI. And many of you are familiar with the unfortunate drinking-related courtroom escapades of Laura L. Flippin of DLA Piper.
The newest partner drinking story comes to us from the Far East. This Biglaw partner was not only allegedly driving under the influence, but he apparently crashed his fancy sports car in the process….
Garden Place: one of the loveliest blocks in Brooklyn (or all of New York City, for that matter). If you have $10 million to spare, you can live here too.
A friend of mine recently made partner at a top New York law firm. A senior partner called to offer congratulations: “Now you can finally move out of Brooklyn!”
But my friend doesn’t want to move out of Brooklyn — and with good reason. Over the past few years, what was once viewed as a dangerous, dirty, and downmarket borough has become hot, happening, and high-end. It’s not for nothing that GQ famously dubbed Brooklyn “the coolest city in the planet.”
Brooklyn may be newly hip (and increasingly expensive), but some people have known about its charms for years. Take this partner at a leading New York law firm, a longtime resident, who has placed his Brooklyn Heights townhouse on the market — for an eight-figure sum….
* Looking for a way to shield your assets during a wrongful death suit? Just adopt your adult girlfriend. It has “nothing to do with the lawsuit” — dude just wants to bang his daughter. No big deal. [Palm Beach Post]
* Unpaid internships are so last season. A former intern for fashion mag Harper’s Bazaar wants class action certification for a lawsuit claiming that her free labor violated wage and hour laws. [New York Times]
The next few State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.
In general, lateral hiring activity in Texas has increased substantially in the past 12 months, with even greater momentum as we head into 2012. Corporate/securities and IP are the busiest major practice areas across the state; however, there are differences between the Dallas, Houston and Austin markets. Overall, the Houston market is the strongest, followed by Dallas, with Austin a distant third. In all markets, partners with solid books of portable business are viable and firms are always on the hunt for new partner-level talent….
Is making partner at a major law firm as desirable as it used to be? In an interesting article in the New York Times about the growing trend of lawyers leaving large firms to start their own boutiques, Margie Grossberg, a partner at the legal recruiting firm of Major, Lindsey & Africa, offered these observations: “In the past, associates found if they worked really hard and did the right things, they made partner. That’s not necessarily the case anymore. The odds are a lot slimmer, and it’s also not as coveted as it once was.”
At the same time, however, let’s face it: being a partner at a top law firm is still highly desirable. The pay, prestige, and perks are tremendous. In a recent survey of new partners by the American Lawyer, over 80 percent of respondents said their new jobs were either what they expected or better than they expected. As Aric Press of Am Law noted, “new partners are basking in the land of more: more money, more responsibility, and more information about their firms.”
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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