Paging the next Aquagirl! Where are you? (Click for the image for the post.)
* Obama might have found out about the IRS scandal “when it came out in the news,” but the Office of White House Counsel knew what was going on weeks ago. Hooray, a new reason for people to lose their sh*t. [Wall Street Journal (sub. req.)]
* Life, liberty, and the pursuit of happiness through ridiculously expensive litigation: making up almost two percent of our GDP, our legal system is the most costly on earth, which isn’t exactly something we should be bragging about. [Corporate Counsel]
* “It’s no surprise these lawyers would want to get off this sinking ship.” It looks like things are going just swimmingly for Steven Donziger now that John Keker’s out as his defense attorney in the Chevron fraud case. [Thomson Reuters News & Insight]
* “Fantasy sports is usually the first and last thing I’ll do each day.” Here’s some proof that there’s such a thing as work/life balance in Biglaw… which is only applicable if you’re a partner. [Am Law Daily]
* Law school enrollment is down, and so is tuition revenue, so the legal academy is now selling new degrees. It’s only a matter of time before they market employment timeshares. [National Law Journal]
* On the bright side, if you’re still looking for a job, our own David Lat has some advice on how to get one (and how NOT to get one). We miss summer associates’ misbehavior. [U.S. News & World Report]
* Congrats are in order for this weekend’s graduates, including the first graduates of LMU’s embattled law school — they won’t let a lack of ABA accreditation rain on their parade. [Knoxville News Sentinel]
The settlement with Goldman Sachs was not a glorious episode in the history of the Revenue.
–UK High Court Judge Andrew Nicol, employing the spirit of British understatement in a written opinion dismissing a claim by activists that the tax settlement Her Majesty’s Revenue and Customs made with Goldman Sachs in 2010 was an unlawful “sweetheart deal.”
Ed. note: This is the latest installment of Righteous Indignation, our new column for conservative-minded lawyers.
You probably saw this week’s topic coming. Until the folks at One First Street start tossing Elie and me some fresh meat to tussle over, my indignation — righteous as it is — must be directed elsewhere. Unless EM wants to argue that, when SCOTUS decided that Pelkey’s claim was not preempted by federal law in Dan’s City Used Cars, Inc. v. Pelkey, the Nine were, like, racist or something. (Query: what race is Dan? Where was the supplemental briefing?!)
So. The IRS’s targeting of conservative groups applying for 501(c)(4) status. I couldn’t not talk about this scandal, right?
Truly, I kept avoiding devoting this week’s column to the IRS abuses. Seriously.
For one thing, I was not initially so scandalized by this supposed scandal, though I was appropriately dismayed. Second, this story is still developing. So, I hereby reserve my right to be feverishly pissed off later….
Dear Republicans who are multi-orgasmic over this IRS scandal, just skip this article. Skip the comments. We get it: “OBAMA… had the GOVERNMENT… like, DO STUFF… which PROVES that taxes are bad!!!” Click over to Red State and bathe in the echo chamber. Here, the adults need to have a talk.
My question for the lawyers is this: how are we supposed to check the validity of groups asking for 501(c)(4) tax-exempt status? I mean, let’s look at this “scandal” in the way the justice system will look at it, without all the partisan accusations:
Group asks for 501(c)(4) status.
Group has anti-government message in its very name.
Group doesn’t apply for 527 status as a political organization because???
IRS asks questions to figure out if these groups are really “social welfare” organizations.
I’m open to the possibility that the IRS did something wrong. I’d just like somebody to tell me what the hell they were supposed to do? Just rubber stamp it? Because if that’s true, I certainly think this website is concerned about the “social welfare” and would like to be tax-exempt.
Maybe we should ask the woman in charge of the IRS Exempt Organization Division if we can get tax-exempt status? She’s actually getting an honorary tribute at a law school this weekend…
It looks like it’s been a while — almost a year, oops! — since we last discussed law-related vanity plates. That said, if you’re a fan of the Law License Plates series and you’d like to see more, please send in your photos via email (subject line: “Vanity License Plate”). We have lots to work with, but if we get more quality submissions from our readers, you may see this column pop up more often in the future.
Today, we’ll be writing about the geekiest (and some of the wealthiest) lawyers of all: those who practice tax law. It was a class most people loved to hate during law school, but if you salivated over the Kirby Lumber case and decided to get an LL.M. in taxation, you’re probably quite happy now.
You’re likely working in Biglaw, at a Big Four accounting firm, or teaching the topic at a law school, and any way you slice it, you’re not ashamed to proclaim your profession on your license plate….
* Forget playing with Wade. LeBron took his talents to South Beach to avoid tons of state taxes. [The Legal Blitz]
* Steve Susman of Susman Godfrey just completed the 180-mile trek from Houston to Austin by bike. Susman took part in this MS fundraiser with his grown kids and 35 other Susman Godfrey team members. Kudos. (You can donate via the link.) [National MS Society]
* The Obama administration is entering a showdown over its use of the “state secrets” privilege. The government is concerned that if it cannot shield “no-fly list” paperwork, it might chill their frank discussion of racial profiling. [Politico]
* A new in-house tool to replace outside counsel? Sure it may be cheaper, but can a computer get you playoff tickets? [Associate's Mind]
The only good things to ever happen to the city of Cleveland occurred in the movie Major League. From “Wild Thing” Ricky Vaughn to Willie “Mays” Hayes, the Indians were never such a joy to watch as they were during that fateful summer, when they climbed back into contention against the cretinous Yankees and their slugger Clu Haywood (“Haywood leads the league in most offensive categories, including nose hair.”). With a roster that resembled nothing so much as the Island of Misfit Toys, the Indians were an absolute delight to watch.
In real life, Cleveland is an angry, festering boil of despair. The Indians suck, the Cavaliers suck, and the Cuyahoga River catches fire likes it’s made of charcoal briquettes. If there is a God, and he is a vengeful one, that God hates Cleveland. There is no other explanation for the singularly awful string of events that have befallen Cleveland sports during my lifetime. The Drive, the Decision, the Fumble, the Shot. God hasn’t sodomized a town like this since Sodom.
Yesterday, news leaked that the Cleveland Cavaliers were considering rehiring coach Mike Brown. While hilarious, this has nothing to do with the law. Instead, we are here to talk about Jimmy Haslam. Haslam bought the Cleveland Browns just this past October. This week, it was announced that the FBI and the IRS had raided the headquarters of Haslam’s company, Pilot Flying J. Yesterday, the feds announced why they had done this.
* “Yes, it is true.” Justice Scalia admitted in a speech this week that he was guided to the right by his colleague, Justice Thomas, who’s apparently “a very stubborn man.” [Wall Street Journal (sub. req.)]
* It’s about time to say so long to your ticking tax time bomb: in President Obama’s proposed budget for 2014, he eliminates taxes on forgiven loan debt under all IBR plans. [Bucks / New York Times]
* “I am the luckiest man in the world.” Larry Macon, an Akin Gump partner from Texas, had nearly finished the Boston Marathon when the bombs exploded, but lived to tell his tale. [Am Law Daily]
* Because sometimes you need to steal $374K worth of copy toner. This ex-Fried Frank staffer pleaded guilty to grand larceny, and is looking at up to 15 years in jail. [Thomson Reuters News & Insight]
* Judge Victor Marrero isn’t a fan of SEC policy, but when it comes to this civil insider trading case, SAC Capital may get to walk away without admitting or denying anything. [DealBook / New York Times]
* This Yale Law graduate is suing Brooks Brothers over a three-button suit, and wants $2K for the 90 minutes he spent arguing over it in the store. Who is the $1333/hour man? [New York Daily News]
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.