Litigation powerhouse Quinn Emanuel is known for many things, perhaps the most important of which is making money hand over fist. In the latest Am Law 100 rankings, the firm grew its gross revenue by 17.8 percent, posting revenue per lawyer of about $1.2 million and profits per partner of $4.4 million. That’s certainly a selling point — but perhaps what the firm is best-known for is its quirkiness. Quinn Emanuel is a firm that does things a little differently than any of the competition.
You may recall that starting in 2012, the firm did away with Biglaw’s tried and true method of summer associate recruiting — interview, check pulse, make offer — in favor of “fun, freewheeling ‘get to know you’ parties.” The firm apparently likes attorneys with social skills. Quinn Emanuel has thrown formal workplace fashion to the wayside and actively encourages its associates to dress casually because it “improves [their] creativity.” It’s no surprise that QE made our list of the 12 top rated firms last year.
This is a firm that likes to have fun, and say what you will about its most recent bonuses, but its fearless leaders want its associates to be happy. We think that Quinn Emanuel’s latest initiative may keep the firm at the top of our rankings for years to come….
Everyone has an opinion about a trip to Disney World. Some people relish immersing themselves in the experience, while others bemoan the long lines, incessant invitations to spend money, and roaming packs of at-turns hyperactive and hysterical children.
Personally, I fall somewhere in the middle, if leaning a bit to being a Disney-phile as opposed to a Disney-phobe. Having just spent a week there with my family, I can attest to the importance of having realistic expectations regarding the trip — such as recognizing that it will not be a relaxing “vacation,” in the traditional sense. Whether physically or emotionally, anything more than a day visit can be quite draining. At the same time, it is also a lot of fun, and can be quite educational for the kids as well. And there is a lot we can learn as lawyers from the way that Disney goes about its business….
Judicial misconduct comes from all across the ideological spectrum. Judge Richard Cebull of Montana, who reportedly spewed out racist emails like an ATM dispensing twenties, was an anti-Obama conservative. Meanwhile, Judge Boyce F. Martin Jr., whose ethical troubles we alluded to yesterday, was a prominent progressive on the Sixth Circuit.
Judge Martin was appointed to the court in 1979 by President Jimmy Carter and wrote major opinions attacking the death penalty and defending affirmative action. He also penned fun opinions that included references to The Simpsons and Austin Powers.
Alas, this liberal lion has roared his last. Did an investigation into possible judicial misconduct help drive Judge Martin from the bench?
When I moved last year from Chicago to London, my morning workout changed along with my postal code: Instead of lifting weights and jogging on alternate days, I now jog every morning, plodding through my lap around Regent’s Park. Either the new exercise regime or my appetite for British food has affected me: Although I hadn’t realized it, I’ve lost a fair amount of weight this past year. (I started at only 5’10” and maybe 175 lbs; losing 20 pounds wasn’t necessarily a good thing.)
Here’s what I noticed when my wife and I recently visited Chicago: When you’re in your twenties and lose weight, your friends say, “Hey, Mark! You’re looking good!” When you’re in your fifties and lose weight, your friends whisper to your wife: “Pssst: Is Mark okay?”
Anyway, our son, Jeremy (you remember him), recently survived his medical school boards and visited us in London for a while. He joined me for a few of my morning jaunts. I sprinted; he jogged. We both went the same pace.
All of this prompted me to reflect on the differences between the States and the Kingdom. I’ve previously noted that the United States cleans the UK’s clock in a couple of areas, such as dryer and traffic-light technology. But the reverse is also true: The Kingdom beats the States in a couple of noteworthy ways….
When was the last long trip you took? For many of you, especially those of you who work at law firms, it might have been you post-bar-exam trip or your honeymoon. But it was probably a really long time ago.
How would you like to go on a trip that never ends? How would you like to leave your office behind and visit different countries, learning about different cultures and expressing yourself along the way?
If you have a camera and a laptop, you might be able to turn this dream into a reality….
In last week’s column, I focused on vacation planning for those in Biglaw looking to take some time off with their families. Weekends do not count as vacations. If the best lasting memories you can create for your children involve a stop at the bagel store for an ET with olive cream cheese on a random Sunday morning before you head into the office, you need to take a real family vacation.
But even those without families need and deserve time to recharge. As with anything in Biglaw, you just need to be smart about it. First off, you need to be a bit more assertive about your right and need for some time off. There is a perception in Biglaw that singles or childless couples have plenty of fun on the weekends, and as such do not need vacation time as much as families. That is bunk, but perceptions matter….
Time for a break from the bad news. There is no fun in checking ATL and seeing layoff news on a daily basis. Even though that sort of action is likely to continue, as firms finally come to grips with what sophisticated clients are willing to pay for. Which is basically partner time, with allowances for some associate and paralegal time on occasion. In the good years when clients were gorging on legal services as if sitting at a ten-course chef’s dinner, partner time was the indulgent dessert. Now clients are eating at the local diner, and partner time is the eggs and sausage $4.99 main course. You hope the customer is willing to pay for a cup of coffee too, and get kind of worried that the diner across the highway is giving away the coffee for free. Because they are, and their glop tastes just as wonderful as your glop.
Vacations and Biglaw have an interesting relationship. For partners, late August and the end of the year were usually guaranteed time off, barring a trial or a deal in progress. For associates, it was a different story….
Just sit right back and you’ll hear a tale,
A tale of an expensive trip
That started from the Mediterranean
Aboard this gigantic ship.
Biglaw partners have to get together somewhere to hash over the business. Usually they meet in the lavish home office or rent out a hotel somewhere. In good times, that might be a luxury hotel in an island paradise. But I’ll bet no one would dare risk the PR blowback of holding a partner circle-jerk in a tropical resort in this economy, right?
One firm decided to see that bet and raise it. They’ve rented one of the most luxurious vessels in the world for a Mediterranean cruise. The ship be… sailing?
Let’s see whose partners are going on a “three-hour tour,” shall we….
Feel free to put this back in your carry-on luggage.
It’s been a while since we’ve written about the anti-rights disaster that is the Transportation Security Administration. But they’re still there, still abusing people’s rights under the guise of “making us safer.”
Ironically, I’m writing about TSA today because they are relaxing their restrictions. The TSA has decided to allow small knives and golf clubs on the plane.
So, for those playing along at home, you still can’t have liquids over three ounces on the plane. But knives, you know, THE THINGS THAT THE TERRORISTS ACTUALLY USED TO TAKE OVER THE PLANES ON 9/11, are okay now….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: