It’s hard to get a good read on the direction of the economy these days. And the same could be said about the direction of Biglaw.
It seems that every week brings a new survey, report, or set of predictions. And they often point in different directions. Sometimes they are pessimistic, claiming that layoffs (including partner layoffs) are just around the corner. Sometimes they are positive, noting that despite the challenging economy, legal spending is up. And sometimes they fall somewhere in between.
Today brings news about past performance — which, while not a guarantee of future performance, can sometimes offer hints. It’s about how large law firms fared in the year just ended. And it’s good news….
Many litigators have a bias against settlement. It’s understandable. There’s no glamor in settling cases. No one is ever going to make a TV show called “The Settler,” about a young but scrappy underdog lawyer who fiercely negotiates tough-but-fair settlement agreements and always remembers to allow a 21-day waiting period if the plaintiff is 40 or over. (On second thought … better call my agent.)
Forget TV and movies. No lawyer has ever come home with the exciting news about settling a lawsuit (at least, no defense lawyer). “Honey, I settled the Devens case!” “That’s great, dear. Now go mow the lawn.”
In the midnineties, I was a junior associate working on a contentious sexual-harassment case. While we were able to win partial summary judgment, the main claims headed to trial in federal court. During the negotiations before the trial, the partner from my firm had a conversation with the plaintiff’s lawyer, who was that sort of rough-around-the-edges attorney who prided himself on spending a lot of time in the courthouse.
Looking to put my boss in place, the guy took a shot at our firm’s litigation style. Here’s what he said …
In August 2006, Robert Wone, a promising young Asian-American attorney, was murdered while staying at a friend’s house in Dupont Circle in Washington, D.C. Wone, then general counsel for Radio Free Asia and a former Covington & Burling associate, was stabbed to death. The housemates claimed that Wone had been attacked by an intruder, but the crime scene seemed to suggest that was not the case.
The unsolved murder inspired the birth of the site WhoMurderedRobertWone, which has tracked the progress of the investigation in excruciating detail. Prosecutors charged the three housemates, including former Arent Fox partner Joseph Price, with conspiracy, obstruction, and tampering, but not for his murder.
The verdict in the four-and-a-half week trial came today.
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 seven years. You can reach them by email: email@example.com.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.