At Barnes & Noble, where I once worked as a marketing exec, we bandied about the phrase “aspirational purchase” to portray a small, but profitable segment of our sales.
Aspirational purchase meant you bought the book not because you were going to read it, but because you aspired to read it. You might even convince yourself you were going to — but in all likelihood, it would serve as a pretentious coffee table tchotchke, an impressive (if un-cracked) spine on a decorative bookshelf, or a useful device to prop up a little kid’s butt so he could reach the cranberry sauce at Thanksgiving.
An aspirational purchase is intended to impress — you want to be seen buying it. It tends to be something conservative as well. And long. And difficult. “War and Peace” is the classic aspirational purchase, but you might also pick up something with a political message that makes you look wise and open-minded, like “The Satanic Verses” (which, for the record, I actually read.) (No, I’ve never plumbed War and Peace. However, I embrace the fact that plenty of you certainly have read it, and yes, loved it and desire for me to acknowledge you’ve read it and how much you loved it — to which I reply, in advance, how very nice for you.)
A law student client — already an MBA — said she needed convincing to drop out of her third-tier school.
I told her to calculate the return on investment for the final three semesters.
She crunched the numbers.
“Debit-wise, I’ve burned $80k in savings and I’m looking at another $100k of borrowed money. On the credit side, I might find a low-salary doc review gig.” She pretended to scratch notes. “So… big loans, interest payments, inadequate cash flow…opportunity cost of 18 more wasted months learning legal mumbo-jumbo followed by the bar exam…”
“In other words…” I egged her on.
“I’d be totally screwed.” She affixed the cap on her pen. “Thanks. I’m convinced.”
I posed the question we were dancing around: “Why are we having this conversation?”
Atul Gawande is a medical superstar -– a surgeon at Harvard who’s also a New Yorker magazine writer, and the author of several books. His latest push is for doctors to use checklists to prevent common mistakes during surgery. A scary percentage of the time, it turns out, things grow overwhelmingly complicated in an operating room and a nurse or an anesthesiologist, or a resident (or whoever) gets distracted and forgets to do something basic -– like confirm there’s extra blood in the fridge, or plug that little hose into the machine that keeps you breathing.
It happens. People forget things. Best to err on the safe side, and use a checklist.
The idea comes from aircraft pilots. It turns out they use checklists for absolutely everything — a pilot literally can’t step into a plane without a checklist. Pre-take-off, take-off, pre-landing, landing, and every possible contingency that might happen in-between is assigned a checklist. That’s because when you’re a pilot and you forget something, well… it can be a problem. Kind of like a surgeon.
Over the weekend, Mark Oppenheimer wrote an interesting New York Times piece about the Sixth Circuit’s recent ruling in Ward v. Polite (PDF). In that case, Judge Jeffrey Sutton — noted feeder judge, judicial hottie, and possible SCOTUS nominee in a Republican administration — handed a (partial) victory to Julea Ward, an evangelical Christian who sued various teachers and administrators at Eastern Michigan University, where she had been studying counseling.
Here’s a concise summary of the facts, from the opening to Judge Sutton’s opinion (which is wonderfully clear; he’s great at explaining complex legal issues to large lay audiences; see also his Obamacare opinion):
When the university asked Ward to counsel a gay client, Ward asked her faculty supervisor either to refer the client to another student or to permit her to begin counseling and make a referral if the counseling session turned to relationship issues. The faculty supervisor referred the client. The university commenced a disciplinary hearing into Ward’s referral request and eventually expelled her from the program. Ward sued the university defendants under the First and Fourteenth Amendments.
Ward claimed that her expulsion violated her free speech and free exercise rights. The district court granted summary judgment in favor of the university, but the Sixth Circuit reversed. At the same time, the Sixth Circuit held that Ward wasn’t entitled to summary judgment in her favor either: “At this stage of the case and on this record, neither side deserves to win as a matter of law.” So perhaps we’ll end up with a trial.
Who’s in the right here, Ward or the university? Let’s discuss….
It’s hard to conjure up bad stuff to say about clerking. It’s an honor, and an all-expense-paid ticket on an exclusive legal gravy train. If you’re lucky enough to clerk for a federal district or circuit court judge, you can rest assured you’re looking good and feeling good.
You might even shoot the moon and sing with the Supremes. In that case, you’re good to go: You’ll never have to practice actual law again. You can sign up now to teach a seminar on “Law and Interpretive Dance” at Yale or attend sumptuous international human rights conferences hosted by African dictators. Life is good at the top. Imagine the stimulation of interacting one-on-one with the mind of a Clarence Thomas (and acquiring access to his porn collection.) You could be the clerk who builds an ironclad case striking down universal access to healthcare — or witness the day Justice T opens his mouth to speak during oral argument….
At some point you have to get out of here. The question is when – and whither.
A vacation might help, if you could achieve the impossible and take one. My client pulled off a week – seven whole days! – at a Caribbean resort. She flew off to paradise, only to return feeling like a condemned prisoner.
“It made things worse,” she lamented. “Now I remember the outside world.”
Sometimes it’s better to live without that distraction….
If it’s happened to you, keep reading. If it hasn’t, keep reading anyway. It happens a lot.
It begins with the standard set-up. You feel trapped. Hate your life. Nerves shot. Self-esteem shredded. You know the drill: biglaw.
That’s when the dæmon lover appears. It doesn’t end well.
There’s biglaw hanky-panky and biglaw sexual harassment. There’s also biglaw romantic infatuation. It’s the one you talk about least because you least feel like talking about it. Once you reemerge on the other side and wish it never happened, you never feel like talking about it again.
As The People’s Therapist, my door is always open. I don’t turn away poor clients.
“Pay whatever you can afford,” I tell them.
Naturally, they get what they pay for. If I’m a little sleepy, or staring at the clock – who are they to complain? Come to think of it, why do we have to talk about them all the time anyway….
But let’s be real — are things any different with the the high-fidelity first-class traveling set than they are with folks flying “comfort class”? I ask myself that question a lot. I do it to stay honest….
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: