Skadden

* For the third year in a row, Skadden has topped the list of the Biglaw firms GCs love to pay, the firms with the best brands. Kirkland & Ellis and Latham & Watkins rounded out the top three. Congratulations! [PRWeb]

* A federal judge struck down Wisconsin’s voter identification law yesterday, noting that it “only tenuously serve[d] the state’s interest in preventing voter fraud.” Ouch. Sorry about that, Scott Walker. [Bloomberg]

* Hot on the heels of the release of the second annual ATL Law School Rankings, we’ve got a list of the law schools where graduates reportedly have the least amount of debt. We’ll have more on this news later today. [The Short List / U.S. News & World Report]

* It was kind of like the night of the living dead in Oklahoma last night, where an execution was botched so badly the defendant attempted to rise up off the table. That must have been horrific. [New York Times]

* Here’s an eligible bachelor alert: After being suspended from practice for six months for filming “upskirt” videos of women in public, this in-house lawyer has been reinstated. [Legal Intelligencer (reg. req.)]

* Poor Justice Lori Douglas. Not only are her kinky S&M pictures floating around somewhere online, but the man who took them — her husband, Jack King — just died. RIP, good sir. [CTV Winnipeg News]

* NBA Commissioner Adam Silver, a former Cravath lawyer, fouled L.A. Clippers owner Donald Sterling out of the league, but people are questioning whether his punishment was legal. [WSJ Law Blog (sub. req.)]

Ed. note: Please welcome Above the Law’s new poet-in-residence, Qui Tam. You can read the rest of his law-related poetry over here.

First week, the subject was an infirm professor and second week, OCI. More or less chronological, so logically, you might expect summer associate stories next, but I’ll save those for some other post.

A name came up at work today and I was reminded of some fun times, so this week the subject is partners, or a couple of them anyway…

double red triangle arrows Continue reading “Qui Tam: Partners”

I wasn’t surprised at all. I’ve lost so much of my health trying to prove this connection. As a journalist, I felt satisfied. I could finally prove the theories I had put forward. As a man, I felt I had been lied to. I was holding in my hand proof. It was the feeling of a scientist who has proven his theory with evidence.

– Serhi Scherbyna, the editor of The Insider, upon the discovery of documents revealing what he called “irrefutable proof” linking a coal trading enterprise that won billions in government contracts to the company that managed the Ukrainian presidential estate. These documents, discovered in the abandoned residence of the deposed prosecutor general, Viktor Pshonka, included an early draft of a Skadden Arps report marked up by Ukrainian officials pushing for even more sympathetic treatment of the trial against Prime Minister Yulia V. Tymoshenko.

So… stop me if you’ve heard this one before. Man sues staffing agency and Biglaw firm for overtime — because document review isn’t really legal work. Man then applies to the EXACT SAME STAFFING AGENCY for more document review work — touting all his legal experience reviewing documents.

Staffing agency then requests sanctions.

Maybe it isn’t the classic tale of boy meets girl, but it is pretty entertaining. Though it’s not as convoluted as it may sound. Find out all the details, and which Biglaw firm was dragged into this suit after the jump…

double red triangle arrows Continue reading “Contract Attorney Sues Staffing Agency For Overtime; What Happens Next Will Make You Chuckle”

Let’s play a game of law firm word association. What words come to mind when I say Skadden Arps?

Prestigious? Yes.

Profitable? Definitely.

Sweatshop? Perhaps; some sources say the hours can be “long and unpredictable.”

Funky?

Yes, you heard me: funky….

double red triangle arrows Continue reading “Skadden Arps And The Funky Bunch”

Partnership: Biglaw’s ultimate brass ring.

Becoming a Biglaw partner does not necessarily mean you’ll live happily ever after. It doesn’t even guarantee financial security. Indeed, some partners end up filing for personal bankruptcy.

But that’s an anomalous case. Partnership at a major law firm might not guarantee you happiness — sometimes you have to leave the partnership to follow your bliss — but it generally brings with it tremendous pay and prestige.

That’s especially true of partnership at the nation’s 10 most prestigious large law firms. Most of them have only a single partnership tier — equity or bust, baby — and sky-high profits.

Who are the new partners at these 10 firms, and what do their selections reveal about Biglaw today?

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This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.

For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.

The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.

Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….

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John Farren and Mary Farren

Lawyers John Michael Farren and Mary Margaret Farren were once a storybook couple. If Above the Law had been around in the nineties, they might have made the pages of Legal Eagle Wedding Watch. Mary Farren practiced energy law at the high-powered firm of Skadden Arps, where she attained the rank of counsel, and John Farren’s résumé was even more impressive: he served as general counsel to Xerox, a Fortune 500 company, before going on to serve as deputy White House counsel under President George W. Bush.

Their success transcended their impressive job titles. She earned $500,000 a year at Skadden; he made millions as GC of Xerox. They had ample material wealth — $3 million in cash here, a $4.6 million mansion there — and two lovely daughters.

And then things went wrong. Horribly, terribly wrong….

double red triangle arrows Continue reading “Ex-Skadden Lawyer Wins $28.6 Million From Her Ex-Husband (A Former GC And White House Lawyer)”

The law firm of Skadden Arps might be a follower when it comes to bonuses, but it’s a leader when it comes to public interest. For example, Skadden was one of the first firms to support Philippine typhoon relief efforts. Over the years, Skadden has given generously to address a variety of humanitarian crises around the world. Its public-spirited nature is one of the reasons Skadden enjoys a perfect score for industry reputation in our Career Center.

Skadden’s most famous contribution to the world of public interest law is surely the Skadden Fellowship program, which 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?

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Not many firms try to trump Cravath, the traditional market leader when it comes to year-end bonuses. Most major firms are followers.

There are a few exceptions, and one of the exceptions is Skadden Arps. Back in 2008, Skadden announced bonuses before Cravath, and those Skadden bonuses turned out to be much higher than Cravath’s. When most other firms subsequently followed Cravath instead of Skadden, my colleague Elie Mystal mocked these firms for their “Half-Skadden” bonuses.

Skadden just announced its 2013 year-end bonuses. Did it beat the Cravath bonuses, or did it join them?

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