Last month, we reported on the mounting evidence that NYU, both the university as a whole and the law school specifically, employed a number of charitable organizations to provide faculty and staff with what can be safely called sweetheart deals on real estate and loans.
The investigation is a little unfortunate, given that it arises from a political witch hunt directed by Senator Chuck Grassley against Treasury Secretary Jack Lew. But a Senate investigation is a Senate investigation and NYU needs to suck it up and comply.
But, according to Grassley, NYU has ever so politely given him the finger…
As we recently mentioned, Biglaw is not all about the benjamins. There is so much more to the practice of law than the monetary rewards. Focus on doing the best work you can for your clients and your colleagues, and the money will take care of itself (well, at least most of the time).
Of course, it’s much easier to take a relaxed attitude towards money if you have a good amount of it. It’s easy for well-paidpartners to tell young associates not to worry about money, when the partners enjoy seven-figure paychecks while the associates struggle under six-figure student loans.
If you’re a young lawyer dealing with educational debt, you know that every extra dollar counts. Every dollar earned means you’re one buck closer to liberation from loans.
Which leads us to today’s question: which law firms pay the largest starting salaries to their associates?
Last night we wrote about a high-profile lawsuit: 3M v. Lanny Davis. Yes, that’s right: the maker of Post-its and Scotch tape is going after Lanny J. Davis, the noted D.C. lawyer and lobbyist, along with his client, Porton Capital (a group of private investors).
It’s a strange lawsuit, but the allegations in it aren’t new. Similar suits were filed by 3M in June and July, in New York state court. (And one of them is still pending, despite the filing of an action in D.C. federal court.)
The primary parties, 3M and the Porton Group, have crossed swords before. In fact, they’re litigating against each other right now in merry olde England, before the High Court in London. In the U.K. litigation, 3M is being sued by Porton Capital and by the British government (in the form of Ploughshare Innovations, an entity owned by the U.K.’s Ministry of Defence).
According to the Wall Street Journal, Porton and Ploughshare allege that 3M failed to diligently develop the BacLite testing technology, “a product already proved and used in Europe as a cheap and quick way of detecting methicillin-resistant staphylococcus aureus, commonly known as MRSA, a hospital infection.” The reason this is so upsetting to Porton and Ploughshare is that they were contractually entitled to receive royalties from 3M’s sales of BacLite. The plaintiffs in the U.K. case claim that 3M abandoned BacLite less than a year after buying it — after botching the BacLite trials, and declaring the testing technology non-viable — “in order to protect a 3M-developed detection product known as Fastman from the less expensive rival posed by BacLite.”
Got that? Okay. Now, some updates to our prior coverage….
UPDATE (9/2/11, 9:30 AM): An update to our updates: a statement from William A. Brewer III, counsel to 3M, has been added below.
Physician, heal thyself? D.C. power broker Lanny Davis, a guru of crisis management, now has a crisis of his own to manage.
Davis has been hit with a federal lawsuit by, oddly enough, one of America’s largest corporations: 3M, the Fortune 100 company and Dow Jones Industrial Average component that’s famous for such products as Post-it Notes and Scotch tape. It’s surprising to see a mega-corporation like 3M going after a high-profile lawyer like Davis.
UPDATE (10:50 AM): Comments from Lanny Davis and his client, the Porton Group, have been added below. They point out that this is 3M’s third bite at the apple — the company previously filed two similar cases in New York state court. (The first suit was withdrawn, while the second still appears to be pending — rather strange, given the D.C. federal court filing.)
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