* Law School Transparency? Nay, Biglaw Transparency! Peter Kalis, global managing partner of K&L Gates, just opened the kimono wide on his firm’s financial performance in an “unusually detailed” fashion. [Wall Street Journal (sub. req.)]
* Talk about a pain in the pocketbook: although profits per partner and revenues are up overall, one firm saw shrinkage of 16 percent in PPP. [Thomson Reuters News & Insight]
* The ABA is just now thinking of trying to find someone who will audit the graduate employment data that law schools release each year. Gee, it only took 15 fraud lawsuits to get the ball rolling. [National Law Journal]
* Oh my God, you guys, carrying six figures of law school debt on your shoulders is “unsustainable” in the long run, especially when your salary sucks. This is new information that no one’s heard before. [News-Gazette]
* Former U.S. Attorney Jim Letten is now Tulane Law’s new assistant dean for experiential learning. For the school’s sake, hopefully he’ll be able to control his students better than he did his AUSAs. [Tulane Hullabaloo]
* “You’re a cold-blooded murderer and I’ll stare you down until I die.” Drew Peterson was sentenced to 38 years in prison for the murder of his third wife. A sequel to the Lifetime movie is likely forthcoming. [Reuters]
Here’s a fun one: when is a tuition freeze not really a freeze? When can you use a tuition cut to mask a tuition hike?
These are the kind of fun things you can do when you are running an American law school now that your prospective law students have not yet learned how to read the fine print.
There’s a school getting some press today for dropping its out-of-state tuition down to the level of its in-state tuition. What’s getting less press is that part of the plan is to raise in-state tuition by six percent….
We are going through a revolution in law with a time bomb on our admissions books. Thirty years ago if you were looking to get on the escalator to upward mobility, you went to business or law school. Today, the law school escalator is broken.
* I’m not usually the editor to comment on the appearance of shirtless men, but this Aaron Tobey kid looks fine. And righteous. [Wired]
* That sound you hear could be the student loan bubble starting to burst. [FICO]
* The Supreme Court’s DOMA ruling will have an impact on immigration reform. I’m kind of interested to see what happens, given that the Court contains at least four conservatives who are immune to the rising electoral power of Hispanics and gays. [Buzzfeed]
* Recruiter Scott Love offers tips on lateral partner hiring. Here are mine. Step one: throw money at them. Step two: Hire a prostitute to make love to them on a beach, then take pictures you can threaten to send to their spouses. Hey, it worked for Bendini, Lambert and Locke. [Attorney Search Group]
* John Quinn (of Quinn Emanuel fame) wrote a great article about running in Roppongi. I had to Google that. Apparently “running” is a forward locomotion that people do for fun or fitness. [Wall Street Journal]
* There’s still room to meet with ABA president Laurel Bellows and talk about women’s issues like “how am I supposed to get a job in this f**king economy.” That’s not to be confused with men’s issues like “dude, how am I supposed to get a f**king job in this economy.” [Ms. J.D.]
* The revised transcript from the day Justice Thomas spoke during oral arguments has arrived, and it seems his record for not having asked a single question from the bench is still intact. [WSJ Law Blog (sub. req.)]
* The Seventh Circuit ruled on Indiana’s social media ban for sex offenders, and the internet’s filth will be pleased to know they can tweet about underage girls to their heart’s content. [National Law Journal]
* Propaganda from the dean of a state law school: lawyers from private schools are forcing taxpayers to bear the brunt of their higher debt loads with higher fees associated with their services. [Spokesman-Review]
* Rhode Island is now the only state in New England where same-sex couples can’t get married, but that may change as soon as the state Senate gets its act together, sooo… we may be waiting a while. [New York Times]
* It’ll be hard to document every suit filed against Lance Armstrong, but this one was amusing. Now people want their money back after buying his autobiography because they say it’s a work of fiction. [Bloomberg]
Did you love Legos as a child? Well, who didn’t? They’re colorful and creativity-triggering. Having your child play with Legos is probably better than handing him an iPad equipped with Angry Birds (although I’ve witnessed firsthand the power of Angry Birds to mollify a misbehaving child, so I don’t judge).
But did you ever think, regarding Legos, that you could turn it into a living? And not just a living, but a successful career as an artist?
Today in career alternatives, we meet a lawyer turned Lego lover. His sculptures have appeared in museums and galleries around the country….
One of these days, there is going to be an awesome story of a recent law graduate attempting some kind of complicated heist, reminiscent of The Town, in order to pay off his crushing graduate school debts.
This is not that story. This is a story of an allegedly crazy man, wearing a 3D mascot hat, who allegedly tried to steal $500 with a Star Wars blaster.
But the dude went to law school, and so we get to talk about it….
The horrors of student loans are much discussed here at Above the Law, if only because law school tuition is so damn high, and housing expenses are so damn costly, that financing a legal education usually requires taking out about six figures of non-dischargeable debt. That’s quite a heavy load to carry. If only there were some way to pay the bills without going to the poorhouse in the process.
Apparently there’s a new way to deal with the rising costs associated with higher education in this country, and you don’t even have to lose your dignity to participate. You see, Seeking Arrangement, the leading “sugar dating” website, recently released statistics showing that more and more college co-eds are turning to “sugar daddy” and “sugar mama” arrangements to pay for their school-related expenses.
And hey, if all the college kids are doing it, why can’t law students fall in line with the latest trend?
It’s completely natural for adults to reach a breaking point. Sometimes, enough is enough. This is true for almost all aspects of adult life that people wish could be changed, including those dealing with addiction, infidelity, and, of course, the headaches that accompany being employed. When and where this point is crossed obviously depends on the individual, but many times, it’ll result in breaking away from what became comfortable and a willingness to do anything for a change.
I personally experienced this myself just before Christmas — that’s when I quit my awful retail job….
Anyone who’s been following the implosion of the law school bubble is well aware of the fact that many recent graduates have been left floundering when it comes to employment prospects. And given the vast media coverage of the legal academy’s existential crisis, everyone and their mother knows that entry-level law jobs are few and far between. People are hungry for experience, but they’ve quickly come to the conclusion that it’s a real seller’s market out there. In today’s economy, it’s kill, be killed, or work in retail with a law degree (a fate which, for some, may be worse than even death).
As expected, some employers have chosen to take advantage of this situation. Take, for example, the “excellent position” we covered last summer, after a number of tipsters emailed us to express their outrage. The job was touted as providing “valuable experience,” and even though it had a sad little yearly salary of $10,000, some 32 people applied.
In the wonderful world of legal one-uppance, it was only a matter of time before someone came up with an even more audacious employment scheme. Would you be willing to pay someone for legal experience? Because that’s what this Connecticut law firm expects you to do.
Leave it to a lawyer to come up with a way to turn this dearth of job opportunities into a revenue stream….
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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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 firstname.lastname@example.org 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.
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