In early July, we broke the news that Cooley Law School would stop accepting first-year students at its Ann Arbor campus and would begin conducting faculty and staff layoffs due to continuing declines in both enrollment and revenue. At the time, the school had “no plans” to completely close the campus.
At the end of July, however, Cooley Law notified its Ann Arbor students there may be a “possible consolidation” of that campus with other Cooley campuses, three of which exist in Michigan.
It’s now mid-August, and the foreboding promise of layoffs has finally come to fruition. How many heads will roll thanks to this law school’s “right-sizing” plan? Our sources say the damage is “massive”…
* The U.S. Postal Service helped kill an innovative, anti-junk-mail startup. You could say a bloated government agency is to blame. Or you could say cutting off the Post Office and forcing them to fund themselves through Faustian deals with junk mail distributors is to blame. Either way, a great idea was smothered. [Inside Sources]
We’re now in year two of the Michigan “let’s make the bar exam more difficult” plan. In 2012, the Michigan Board of Law Examiners changed the weight it gives to the essay questions, with the goal of producing lawyers with a better understanding of state law. I don’t know, there are probably all sorts of things that don’t apply to automakers in Michigan that you’d never see on the Multistate section.
This makes the bar more difficult and more stupid at the same time. It’s harder to answer an essay question than a multiple choice event where you can make an educated guess, but it’s also dumber to administer a “standardized” test that relies heavily on the individual tastes of essay graders.
In any event, the results from the July 2012 bar exam were predictably horrific. Only 55% of test takers passed the July 2012 test. Cooley totally embarrassed itself, even by Cooley standards, with only 42% of test takers from that school passing.
This year, 60% of test takers passed the July 2013 Michigan Bar. So that’s better, though still pretty rough. Cooley, again, covered itself in glory by posting a 43% pass rate. But all the law schools have complained about Michigan’s new, harder exam.
And the Michigan BOLE doesn’t care. Law schools in Michigan better raise their game, because the game ain’t changing….
* Airport security has forbidden joking about bombs and hijacking. Now TSA is cracking down on joking about TSA itself. In the interest of my next flight, “I love you, TSA!” [Daily Mail]
* A detailed analysis of the 14th Amendment’s role in the debt ceiling debate. President Obama should employ this solution now before the Supreme Court realizes there’s another part of the 14th Amendment they can overturn. [Main Street]
* Law school professors do not take kindly to your antics. [Law Prof Blog]
* The rules don’t apply to Yale or Harvard. Or at least the rules don’t apply to their law reviews. [Professor Bainbridge]
* Congress is still trying to decide how to regulate FM radio instead of looking at salient issues in modern copyright law. Given how brilliantly they keep the government open, maybe FM radio is the biggest issue we should give them right about now. [The Daily Caller]
* The lawyer as generalist is fading into obscurity. Let’s commemorate it in poetry, shall we? [Poetic Justice]
* A preview of some upcoming Supreme Court cases this week. Complete with cartoons! [The Spark File]
* Finally, here’s a little gem for Justice Ruth Bader Ginsburg fans that we got….
The median LSAT score for students at the Thomas M. Cooley Law School is 145. This means that Cooley is already trawling in the waters of the bottom 25 percent of LSAT takers. So when Cooley Law Dean Don LeDuc says that the school might consider lowering its admissions standards to cover the drop in law school applications, it’s fair to ask what’s lower than the bottom of the barrel.
Are they going to start admitting people who took the LSAT in crayon? Are they going to start admitting people who can’t read? If the median score is 145 and you’re going to bring that number down, what (if any) “standards” does your school still purport to have?
Cooley would rather lower its standards than lower its tuition. In fact, LeDuc says that tuition is going the other way: Cooley announced that it will raise first-year tuition by 9 percent and tuition on everybody else by 8 percent. It’s almost as if Cooley has taken upon itself the responsibility of punishing people too ignorant to research legal education….
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: