On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”
Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.
But we wonder if there’s more to this story than meets the eye….
Comcast has confirmed reports that the company will be acquiring Time Warner Cable in a deal estimated to be worth around $45 billion. With the ink on their NBC acquisition only just dry to the touch, the deal will tack 8 million broadband subscribers onto the company’s existing 22 million broadband customers. Comcast is already the nation’s largest fixed-line broadband company, largest cable TV provider, and third largest fixed-line phone company — and that’s before you include the company’s NBC or other assets. From a geographical perspective the deal makes sense; Time Warner Cable filling in Comcast’s coverage gaps and in particular giving Comcast the prized markets of Los Angeles and New York City, where Time Warner Cable has traditionally under-performed.
The problem is less of market share (the two companies didn’t compete directly) but one of consolidated power…
* Virginia is for lovers — gay and straight alike. Judge Arenda L. Wright Allen (E.D. Va.) just struck down the state’s ban on same-sex marriage (but stayed her ruling pending appeal). Happy Valentine’s Day! [Washington Post]
* Did a Biglaw firm make a big-time mistake by blowing a deadline to appeal a $40 million verdict? [Law360 (sub. req.)]
* Speaking of screw-ups, making them in the e-discovery realm can be costly — a lesson that California is learning the hard way, to the tune of $32 million. [ACEDS]
* Former New Orleans Mayor Ray Nagin thought he’d be acquitted; he thought wrong. [ABA Journal]
* George Washington wasn’t a member of the one of the 8 magic groups — but his story still illustrates the truth of The Triple Package (affiliate link), according to Washington biographer Logan Beirne. [Fox News]
* Authorities have made an arrest for the package bombing that killed a retired Tennessee lawyer and his wife. [CNN]
* In continuing Seventh Circuit benchslappiness, Judge Richard Posner got feisty with an attorney for Notre Dame who kept interrupting him. If this lawyer keeps it up, Posner’s going to treat his client like Alabama did a year ago. [Chicago Tribune]
* Comcast wants to buy Time Warner, pending DOJ approval. The DOJ wants to talk to Comcast, but they’re only available to talk between 10 and 10:15 on alternating Wednesdays. [ATL Redline]
* California and New Jersey have banned gay conversion therapy programs. Is that the best way to combat these schemes? [New York Times]
* A look at getting started as an entrepreneur. See, there’s hope after bailing on practicing law. [Big Law Rebel]
* Daria Roithmayr of USC Law thinks The Triple Package (affiliate link), the new book by Yale’s Amy Chua and Jed Rubenfeld, doesn’t hold water. I mean, since when are we holding academics to writing “scholarship” as opposed to “controversy bait”? Professors need to eat, after all. [Slate]
* A cop who got in trouble for bashing Obama online thought he was protected by the First Amendment. The court disagreed. [IT-Lex]
My wife, who is being deprived of shows like Dexter and The Big Bang Theory reruns by the Time Warner/CBS fee dispute, and is terrified of missing out on Homeland, said of the two warring media conglomerates: “It’s like watching two muggers argue over who gets to steal your purse.”
I haven’t been paying it much attention. I’m assuming that TWC and CBS will get this sorted in time for football season. Well, let me rephrase, I’m assuming that if these two billion-dollar operations can’t get their act together in time for football season, we’re going to see the American version of “Arab Spring” and there will be blood in the streets. There are few things you don’t mess with in America: one is football, and I don’t think people care about number two as long as football is on.
Sorry, let me back up, CBS has been blacked out in New York, Los Angeles, and Dallas for weeks now due to a fee dispute with Time Warner Cable. CBS also owns Showtime, so that’s been blacked out, and the Smithsonian channel — which nobody watches but me because it’s the last “learning” channel that doesn’t pander to redneck pawn, ice, gold, lumber, and fishing stars.
In response to this ridiculous situation, a group in Los Angeles has filed a class action lawsuit against TWC for blacking out CBS…
* I didn’t make this list of the 25 most influential people in legal education. That pisses me off. I’m going to start writing about how people shouldn’t trust legal educators because law schools are only interested in profits and not the employment outcomes of their students. That’ll show ‘em! [Tax Prof Blog]
* … Of course, you know what else doesn’t make any list of influencing legal education? The truth. [Constitutional Daily]
* Time Warner Cable is well within its rights to act like feckless cowards. [Huffington Post]
* I like watching the Feds try to roll rich people. I’ve got no horse in the race, I’m just there for the competition. [Dealbreaker]
* U.K. considers forcing fat people to lose weight in order to keep their benefits. I was going to make a “Britain, outsource, BBW” joke, which somehow led me to the Wikipedia page for BBW, a page that has really not at all what you’d expect the graphic on BBW to be. [Legal Blog Watch]
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: firstname.lastname@example.org.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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.