Aside from the daily challenges associated with sustaining or exceeding gross revenue year after year, Biglaw partners are probably most worried about their firm’s brand. After all, a brand is something that will keep clients coming back, and usher in new and exciting business opportunities.
But with so many firms to choose from, it’s hard to pinpoint exactly which one is on top when it comes to being the most well-known of the bunch, regardless of what their Am Law or Vault 100 ranks might tell you. What matters most is obviously what the clients think.
Of course, there’s now a ranking to determine which firm has the strongest brand in the business….
Yesterday, we brought you the story of Garrett Waltzer. The former Skadden partner sent around a thrilling departure memo explaining to his colleagues that he was leaving the firm to help the music career of his wife, R&B artist and near-reality show star TaQuita Thorns. If you missed yesterday’s story, I’ll wait here while you catch up.
Yeah, that happened.
So when I say former Skadden partner, boy do I mean “former.” Skadden has already removed his bio from their website. That firm doesn’t play.
But Waltzer is still talking. After yesterday’s story, he opened up a little bit about his personal life to Vivia Chen of The Careerist.
Oh, and I did I mention we’ve got a clip of TaQuita Thorns on her reality show?
Has your soul winced at all today? The kind of wince that feels like your junk has retreated deep into your abdomen in a way that makes you mostly nauseous… but also a little excited? No? Well, YOU’RE WELCOME, because here’s your chance. Actually, though, don’t thank me — thank a partner at one of Biglaw’s biggest and baddest firms, whose departure memo will leave track marks in your brain for at least the next three days.
Our partner, Garrett Waltzer, started off with the usual sentiments: After 24 years practicing at Skadden, in both Los Angeles and Palo Alto, he’s grateful for the professional opportunities, the terrific mentoring, the millions of dollars friendships he’s made, yada yada yada. Then he starts to tease us:
I have decided to start a new phase of my life. I do not plan to practice law.
Hm. OK. Well, Waltzer, what do you plan to do then? The answers await you after the jump, in what will likely heretofore be known as Chapter 1 of the Mid-Life Crisis Manual handed out to all new associates at Skadden and beyond….
It sucks when your client is caught on video selling 99% pure meth to an undercover DEA agent. It sucks even more when he decides to turn in the kingpin in exchange for a shorter sentence, and the guy he names is also your client.
– An ex-Skadden lawyer turned criminal defense attorney.
Earlier this week, we wrote about a pair of prominent partners at Skadden Arps who got hit with a big-time benchslap. A federal judge in Chicago issued an order to show cause, requiring the Skadden lawyers to explain why they should not be sanctioned for failing to cite a highly relevant (arguably dispositive) Seventh Circuit case when briefing a motion to dismiss. The judge also set “a status hearing in open court…. [at which the attorneys] are all directed to appear in person.”
The Skadden partners filed a contrite response. They apologized profusely to the court, explained why they viewed the Seventh Circuit as distinguishable, and argued that even though they erred, their conduct didn’t merit sanctions. They announced to the court that they had settled the case in question, with Skadden “contributing to the settlement amount in order to personally redress plaintiffs’ counsel for responding to the motion to dismiss.” (In a classy move, they also extracted their associate from under the bus, explaining that he played no substantive role in the briefing.)
Despite the apology and the settlement, the status hearing went forward as scheduled yesterday. What happened?
On the transactional side, things seem to be going gangbusters for Skadden Arps. As we noted yesterday, the firm took the top spot in three separate rankings of 2012 M&A work. In 2011, a different firm sat atop each set of rankings, but in 2012, Skadden ruled them all.
On the litigation side, though, the new year has brought new headaches for Skadden. Earlier this month, a high-profile partner at the firm, along with another partner and an associate, got hit with a big benchslap. A federal judge issued an order to show cause, asking the Skadden lawyers to explain why they should not be sanctioned, and set “a status hearing in open court…. [at which the attorneys] are all directed to appear in person.” Ouch.
Skadden recently filed its response to the OSC. Let’s review the benchslap, then see what the Skadden lawyers had to say for themselves….
* “I’m a New Yorker, and I jaywalk with the best of them.” Don’t be fooled by the rocks job that she’s got — she’s still, she’s still Jenny Sonia from the block. The Supreme Court’s very own wise Latina, author of a new memoir (affiliate link), is proud of her city. [New York Times; 60 Minutes]
* If you’re looking for an M&A adviser, you’d be wise to seek out counsel from Skadden Arps. The firm swept three separate rankings lists based on the total value of its clients’ 2012 M&A transactions. [Am Law Daily]
* Only in the world of legal education could the dean of a law school that isn’t even numerically ranked by U.S. News have the highest salary of all law deans nationwide. (We’ll likely have more on this later.) [Boston Globe]
* Arizona schools will allow 3Ls to take the bar exam, but New York schools may soon do away with 3L year altogether. Of course, the ABA will find a way to muck it up, but still, hooray for progress! [National Law Journal]
* Remember “Made in Jersey,” the show about a stereotypical Jersey girl who made the jump to Biglaw? Yeah, neither does anyone else. Hopefully “Staten Island Law” won’t face the same fate. [New York Daily News]
* “Sexiness is all about being a woman of character.” Our congratulations go out to DaNae Couch, the Texas Tech law student who advanced to the Top 10 of the Miss America competition. You go girl! [Lubbock Online]
Few people are happier about the world’s surviving the Mayan Apocalypse than new partners at top law firms. Can you imagine slaving away in Biglaw for almost (or even over) a decade, finally winning election to the partnership in late 2012, and then having the world end before your hard-won partner status took effect?
Fortunately that didn’t happen. Heck, we didn’t even go over the fiscal cliff. But some people will have to pay higher taxes this year (and for many years to come).
Like these people: the talented and hardworking lawyers who, as of January 1, 2013, became partners of their respective law firms. Let’s find out who they are, so we can congratulate them….
* When it comes to the art of law firm valuation, you may be surprised when you find out which Biglaw firm is worth the most. Here are a few hints: it’s not Baker & McKenzie, and it’s not DLA Piper or Skadden, either. [American Lawyer]
* Evening students are capable of doing more than ruining your class rank. Jacob Lew, once a night student at Georgetown Law, is now the White House chief of staff assisting with fiscal cliff negotiations. [New York Times]
* For now, the only thing that’s keeping Florida from gaining another law school is a lack of square footage in the real estate rodeo. But that’s probably a good thing, because adding a twelfth law school would be more than a little ridiculous. [Daytona Beach News-Journal]
* Samsung’s trying to get out of paying $1.05B to Apple, and their lawyers are trying to pin knowledge of the jury foreman’s misrepresentations on their technological nemesis to get the verdict thrown out. [Bloomberg]
* Shakira’s hips don’t lie, but her contracts allegedly do. The sexy singer’s ex-business partner (who’s also her ex-boyfriend) is suing her for $100M to “recover his share of past and future partnership profits.” [Billboard]
* “[L]awyers aren’t trained as accountants,” but Gibson Dunn, Freshfields, Drinker Biddle, and Skadden may have some splainin’ to do when it comes to Hewlett-Packard’s M&A blowout with Autonomy. [WSJ Law Blog]
* Looks like it’s time for some holiday musical chairs: Dorsey & Whitney’s managing partner Marianne Short will be leaving the firm at year’s end to join UnitedHealth as its chief legal officer. [Twin Cities Business]
* The court-ordered mediation between Hostess and the bakers’ union broke down last night. If Judge Drain approves the company’s liquidation plan, the Twinkie may disappear from whence it came. [Reuters]
* You shall not pass — or use Lord of the Rings characters in online gambling games! J.R.R. Tolkien’s estate is suing Warner Brothers for $80M over improper licensing of the late author’s characters. [Bloomberg]
* Please don’t tickle me, Elmo. One week after an accuser recanted his allegations against puppeteer Kevin Clash, another one filed suit over an underage sexual relationship. [Media Decoder / New York Times]
* There’s nothing like some man-on-man sexual harassment to get you going in the morning. Sparks Steak House paid $600K to settle charges lodged by 22 male servers over an eight year period. [Corporate Counsel]
* Seems like this pulchritudinous plaintiff’s contract case is still kicking, and Emel Dilek testified that sleeping with the boss was “absolutely not” one of her roles during her time at Mercedes-Benz. [New York Post]
* Lululemon and Calvin Klein have settled their patent spat over elastic waistbands on yoga pants. Here’s hoping the Canadian yoga-wear company turned this lemon of a lawsuit into lemonade. [Businessweek]
* What do divorcées do in their spare time? They go to Florida’s $350M courthouse to spray paint it with broken hearts and notes for the judge who presided over their proceedings. [Riptide 2.0 / Miami New Times]
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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 six years. You can reach them by email: email@example.com.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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