* Incest is best when kept in the family. So go ahead and adopt your girlfriend. [Lowering the Bar]
* “Your Honor, I’d like my dong stricken from the record.” [OC Weekly]
* A slick recap of how completely screwed the legal industry is right now, by Axiom Law (via Bruce MacEwen). [Adam Smith, Esq.]
* On a personal note, as a debate coach myself, congratulations to everyone involved with the Emporia State debate team for becoming the first team ever to win both national championship tournaments (by way of analogy the “U.S. Open” and “The Masters”) for the same year. [Associated Press]
‘They tried to make me go to rehab, and I said… sure, it’s better than going to jail!’
* President Obama nominated Thomas Perez, the head of the DOJ’s Civil Rights Division, to be the next secretary of labor. Republicans, of course, are all butthurtt, calling this a “needlessly divisive nomination.” [New York Times]
* Let’s get ready to RUMBLE! Be prepared to see some legal heavyweights next week when the Prop 8 and DOMA cases are argued before the Supreme Court, including Paul Clement and Ted Olson. [National Law Journal]
* How appropriate that Justice Scalia should break out the Spanglish for an Arizona voter registration law that requires proof of U.S. citizenship. Our beloved Wise Latina probably wasn’t too thrilled by this. [New York Times]
* To promote pay equity in law firms, the ABA is encouraging bar groups to hold conferences on the topic. The question on everyone’s minds, of course, is whether those conferences are billable. [Thomson Reuters News & Insight]
* Law schools aren’t the only places where transparency is lacking. Jeh Johnson, the DOD’s former general counsel, thinks the secrecy swirling around drone strikes is bad for the government. [At War / New York Times]
* The members of Debevoise’s displaced trusts and estates practice team have been picked up by Loeb & Loeb. Enjoy your new home, and your new — presumably lower — compensation package. [Am Law Daily]
* Lindsay Lohan took a plea deal yesterday, and instead of going to jail, she’ll be going to rehab to be kept under lock and key for 90 days. I’d say this is bad for her career, but who are we kidding? [Los Angeles Times]
* Casey Anthony’s trustee just answered my prayers. He wants the ex-MILF to sell her story to pay off her debts. I demand that LiLo be cast in the role! She’s the only one broken enough to pull it off. [Washington Post]
It looks like the trusts and estates department at Debevoise & Plimpton needs a last will and testament. As we mentioned in Morning Docket, the firm is pulling the lifeline on its T&E department.
The move surprised some, given the kind of place that Debevoise is. As Peter Lattman put it, “it seemed to run counter to Debevoise’s reputation for a strong partnership culture. At a time when many large law firms have discarded the traditional partnership model and embraced a more bottom-line approach, Debevoise has been seen as retaining an old-school ethos — a genteel law firm known for its camaraderie and decency.”
We have some additional information about the wind-down process. On the bright side, it’s being conducted in a genteel, decent, Debevoise sort of way….
* Oh my God, Debevoise & Plimpton is dropping its entire trusts and estates practice. Was the economy the cause? What about the eight soon-to-be-unemployed lawyers? And most importantly, what would Josh Lyman’s father think?! [DealBook / New York Times]
* Major props go out to everyone at O’Melveny & Myers for hitting an all-time high in terms of both profits per partner ($2.06 million) and revenues per lawyer ($1.1 million). Here’s hoping the bonus situation reflected those incredible numbers. [Am Law Daily]
* Are we supposed to be surprised that the Millennials who are considering applying to law school are more self-confident than those who preceded them? They’re all special little snowflakes! [National Law Journal]
* Sorry, George Zimmerman, but even though you’re poor, your trial isn’t going to be delayed. Perhaps Judge Nelson made this announcement to serve as a poetic birthday present for Trayvon Martin. [Orlando Sentinel]
“Sucked balls can make millionaires” — Powerball management and/or Hugh Hefner
In the wake of a record-breaking $580 million Powerball jackpot that none of us won, we all returned to our soul-crushing legal jobs and forgot about the dream of owning an island or riding a partner around the office like horse until the next big jackpot.
But some lawyers are making a living off the lottery. One law firm in New York, Certilman Balin, has even registered the domain name thelotterylawyer.com to tout their expertise in estate planning for lottery winners. That’s some quality SEO. Professional legal advice for lottery winners is a growing cottage industry as the public becomes more familiar with jackpot winners squandering their money.
But estate planning isn’t nearly as entertaining as the crying and gnashing of teeth from litigation. And lotteries have spawned some wild cases because wherever there are deep pockets and petty people there are legal fees just waiting to be collected.
A prominent Manhattan lawyer is suing his own daughter. For libel. Because she allegedly harmed his reputation. By seeking an accounting of her trust fund. Which he set up for her and reportedly administers. Got that?
Yes, Dad v. Daughter. How could something this messed-up not be our Lawsuit of the Day? Especially given the claimed size of the trust fund, stocked with such goodies as Hamptons real estate?
It’s hard to get one’s head around these allegations, but the litigation is for real. Let’s take a look at the competing claims. And how much the trust fund was supposedly worth at one point — we’re talking seven figures here….
When doing research for my columns, I spend a lot of time thinking about how small-firm attorneys can get the right kind of attention. I can easily find examples of getting the wrong kind of attention: Kim Kardashian, Conrad Murray, and that child-bride who married the guy from Lost. Then, I received an email from a young small-firm lawyer practicing in Winston-Salem who provided me with a positive counter-example.
Michael Wells, Jr. practices personal injury law, litigation, and estate planning at Wells Jenkins Lucas & Jenkins PLLC. Wells is the youngest lawyer at this ten attorney firm. One of the other ten is his father, Michael Wells, Sr. Early on in his career, Wells set out to distinguish himself from his highly successful father and he has succeeded. The lessons he learned along the way can provide a useful road map for young attorneys….
Almost half (48%) of Career Center survey respondents said they were too busy billing on the Labor Day holiday to fire up the barbie. That’s more than the 35% of survey respondents who reported working on the Fourth of July, but less than the 73% of respondents who worked on Presidents’ Day, and the 66% of respondents who worked on MLK Day.
The most popular reasons given for skipping out on the Labor Day celebrations were:
56% said that nobody specifically asked them to do work, but they had work they needed to get done. 29% said a partner or associate asked them to do work. 14% said a client asked them to do work. 10% said they needed the hours. 7% said everyone else in their office was working. 3% said that Labor Day is not recognized as an official firm holiday.
Now let’s find out in which practice areas and at which Biglaw firms associates were most and least likely to work on Labor Day….
* Led by Cleary and Wachtell, five Biglaw firms were involved in the $12.5B Google/Motorola deal. Talk about a total prestige orgy. [Am Law Daily]
* Casey Anthony will be appealing her check fraud probation order in Florida. WHERE’S THE JUSTICE FOR THAT GIRL’S CHECKING ACCOUNT!!?!? [CNN]
* Those pushing for a law school at Indiana Tech admit the state doesn’t need another law school, but “another kind.” The kind that doesn’t exist, amirite? [Chesterton Tribune]
* Your pets don’t need millions from your estate after you go to the big dog park in the sky. But if you feel so inclined, Fifi will probably use the money to dye her hair back. Pink is so not her color. [Reuters]
* For some young lawyers in Nevada, passing the bar is easier than getting a job. Meh, I guess I should’ve considered moving to Nevada. [Fox News]
* Lawyers in Texas are excited about a Twitter Brief Competition. All filings should be under 140 characters. Just imagine: @Appellant Ur lawyer sucks, ttyl #affirm [Tex Parte Blog / Texas Lawyer]
Joe Flom, R.I.P. — and R.I.C.H. As you might expect from the name partner of one of the world’s largest and most lucrative law firms, Flom left behind a vast fortune.
It might seem tacky to talk about this. But that hasn’t stopped us before given Flom’s commitment to charity, it’s actually heartwarming to see all of the worthy causes that will be receiving much-needed funds from the Flom estate.
So how much are we talking about? And who are beneficiaries of his will?
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: