* Deep in the heart of Texas, plans are in the works for the state’s secession from the nation via online petition. The most likely White House response? Probably something like this: “HAHAHAHAHAHA!” [Hillicon Valley / The Hill]
* Paula Broadwell, better known as ex-CIA director David Petraeus’s side piece, has officially lawyered up. This guy had better watch out, because he kind of looks a little bit like her former flame. [Washington Post]
* And then they came for the Steves, but there was no one left to speak for them. The day of reckoning has finally come for the men who are being blamed for cooking Dewey’s LeBoeuf. [Thomson Reuters News & Insight]
* Law firms in Manhattan are still recovering from Hurricane Sandy. Not for nothing, but all of the staff members at WilmerHale who were tasked with getting rid of all of the rotten food in the firm’s cafeteria should get a double bonus. Just saying. [WSJ Law Blog]
* Good news, underemployed law school graduates baristas! The First Circuit just affirmed your $14.1M tip-sharing judgment. Maybe now they’ll be able to afford the Starbucks diet. [National Law Journal]
* “This lawsuit is a massive fraud on the federal courts and defendants. It has now descended into farce.” Facebook is yet again seeking dismissal of Paul Ceglia’s ownership claims. [Threat Level / Wired]
* With Eric Holder questioning his job, and Deval Patrick dining at the White House, perhaps we’ll see our second black attorney general. Or not, because one of the Governor’s aides says he’ll continue his reign as a Masshole. [Washington Times; Buzzfeed]
* When it came to sanctions for discovery violations in the Apple v. Samsung case, this judge was all about pinching pennies. Last week, both Quinn Emanuel and MoFo got taken to task over their apparently “sloppy billing practices.” [The Recorder]
* What’s the most inappropriate thing for a federal judge to say to jurors when delivering the news that a defendant of Asian descent killed herself after testifying? “Sayonara.” Ugh. [Careerist via New York Times]
* “Law school is very unforgiving, but classes must go on.” Law schools in the New York metropolitan area are still trying to make sure their students are safe and sound — and studying, of course. [New York Law Journal]
* Another one bites the dust: Team Strauss/Anziska’s lawsuit against John Marshall Law School over its allegedly phony post-graduate employment statistics has been dismissed with prejudice. [Chicago Tribune]
* Are you ready for some litigation? Lawyers for Nick Saban’s daughter are showing the sorority girl who sued her what it’s like to get rolled by the Alabama tide in a flurry of more than 40 subpoenas. [Times Leader]
So far, no firm has stepped up and paid out bonuses early to help people struggling with Hurricane Sandy. Given the Nor’easter, associates might just burn the money to stay warm.
But at least one firm is being proactive about adjusting expectations because of the crazy weather patterns. Sandy essentially took a week away from billables, and so the firm is knocking a week off the minimum hour requirement….
Did Sandy’s thumb tip the scales in favor of Obama? Yesterday, we asked you, the ATL readers, and the answer was an emphatic no. For just last week, you predicted a comfortable reelection, despite the contemporaneous claims of a dead heat. And you were right. So, apart from the election, where the Superstorm seems to have been of little account, we wondered how Sandy (ed. note: are we still talking about the damn storm?) was, in your view, handled by your employers and schools.
Responses to our ATL Insider Survey tell us that, generally speaking, lawyers rate their employers highly in more abstract areas (e.g., “satisfaction” and “culture”) and lower in more concrete categories (e.g., “compensation” and “training”). Last week, we in the Northeast megalopolis all faced the very concrete challenge of Superstorm Sandy. Since then, we’ve covered how many firms have acquitted themselves admirably in the wake of the storm, with pro bono efforts and charitable contributions to support relief and recovery efforts.
But how about during the run-up to Sandy? Yesterday, we asked our readers who live and work in Sandy-impacted areas to assess the performance of their schools or employers in the face of the storm: how prepared were they? Was sufficient technology in place to continue operations? And how are things going now, a week later? This, in addition to a question about how the storm might have affected the outcome of yesterday’s election. Read on for the results….
* “We know in our hearts that for the United States of America, the best is yet to come.” Barack Obama was re-elected as president. Bring on the hope and change! No, seriously. [New York Times]
* In news that shouldn’t come as a surprise, regardless of who won the presidential race, there are still post-election voting issues that will likely be resolved in the courts. [Blog of Legal Times]
* But what we really want to know is who will be our country’s next attorney general. Because if anyone can fill Eric Holder’s shoes, it’s Preet Bharara, the U.S. attorney for the S.D.N.Y. [WSJ Law Blog]
* In other important news, several states approved gay marriage ballot initiatives, and others legalized marijuana. But hopefully you don’t have a case of the munchies yet — federal law still says it’s illegal. [CNN]
* They helped American citizens “ba-rock” the vote: hundreds of law students from around the country rallied around the craziness of Election Day to volunteer their assistance to worthy causes. [National Law Journal]
* Biglaw firms in NYC are still reeling after Hurricane Sandy. While WilmerHale set up temporary offices last week, both SullCrom and Fried Frank could be out of commission for weeks. [Reuters; New York Times]
* At this point, in-house counsel are kind of like the McKayla Maroneys of the legal profession, because they are seriously unimpressed with outside counsel’s efforts to improve services and fees. [Corporate Counsel]
* Judge Theodore Jones, associate judge of the New York Court of Appeals, RIP. [New York Law Journal]
Hurricane Sandy hit the legal world hard, as we’ve chronicled in these pages. And many lawyers and legal employers are stillfeeling its effects — quite literally. If you work at one prominent downtown law firm, for example, we hope you’re wearing thermal underwear.
As we mentioned on Friday, some individuals have been exploiting the Superstorm Sandy crisis to take advantage of others. The Justice Department and the SEC have issued warnings about various “Sandy scams.”
On the opposite end of the decency spectrum, some lawyers and law firms are stepping up to the plate and supporting Hurricane Sandy relief and recovery efforts. Let’s see what they’re doing — and give them some well-deserved kudos for their work….
Manhattan is going back to work today. The power is on, pretty much. The subways are running, basically. And, well hell there’s money to be made, so get your asses to your desks.
While Staten Island is still a soggy disaster, Emperor Bloomberg has gotten the corporate centers of wealth generation back online in his “luxury city.” And so the city that never sleeps is waking up.
But just because we have power doesn’t mean there is heat. Yeah, the power is back on in SoPo, but in many places the heat isn’t yet working. (This is the case in Lat’s apartment; luckily he’s already in Nashville for an eventtomorrow at Vanderbilt Law.)
So, I guess you need to be able to type with gloves on? A tipster at one Biglaw firm tells us a chilling story….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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.
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