Marathons and triathlons are so passé. They’re just not thrilling enough; you need an endurance event that’s going to make you feel truly alive. Enter Tough Mudder, a 10 to 12 mile obstacle course designed to test participants’ all-around strength, stamina, mental grit, and camaraderie. This isn’t a race, it’s a challenge, and participants are greeted upon entry with an ominous sign that reads, “Remember You Signed a Death Waiver.”
If you choose to sign up for one of these events, some of the extreme challenges you’ll experience include trudging through a mile of waist-deep mud, sprinting through blazing fire, being submerged in ice water so cold that hypothermia is a real possibility, and running through 10,000 volts of electricity. If that sounds crazy, it’s because it is.
This is the kind of torture that could only have been dreamed up by a former Biglaw tax attorney….
* Change may be coming soon in light of the Newtown shooting, but any talk about new federal restrictions on guns will hinge on the Supreme Court’s interpretation of the Second Amendment through the lens of the Heller case. [National Law Journal]
* Joel Sanders and the Steves are facing yet another “frivolous” lawsuit over their alleged misconduct while at the helm of the sinking S.S. Dewey, but this time in a multi-million dollar case filed by Aviva Life and Annuity over a 2010 bond offering. [Am Law Daily]
* Income-based repayment is a bastion of hope for law school graduates drowning in student loan debt, but when the tax man commeth, and he will, you’ll quickly find out that the IRS doesn’t have IBR. [New York Times]
* Is the premise of graduating with “zero debt” from a law school that hasn’t been accredited by the ABA something that you should actually consider? Sure, if you don’t mind zero jobs. [U.S. News and World Report]
* Daniel Inouye, Hawaii’s Senate representative for five decades and a GW Law School graduate, RIP. [CNN]
* It’s 12/12/12. Or as rational people call it, “just another Wednesday already, God.” [ABC News]
* Elizabeth Warren is going to be on the Senate Banking Committee. Boom. How ya like me now. [Reuters]
* Do women make better lawyers than men? For some reason this question made me want to make a really sexist joke. But I’m afraid of being yelled at by feminists. Afraid, like a little girl. [Law Frat]
* Verizon to take on copyright trolls. I hope this leads to a commercial with that Verizon T-Mobile 4G woman playing whack-a-mole in a sun dress. [Torrent Freak]
* You know what could keep us from falling off the fiscal cliff? The death tax. Mwahahaha. [Tax Prof Blog]
* SCOTUSblog is looking to hire a good law student or LL.M. student. Qualification #1: you should probably know what SCOTUS refers to. [SCOTUSblog]
* Lindsay Lohan had her probation revoked. If you are one of the people who care about this story, thus necessitating this mention of it, I hope bad things happen to you this holiday season. I’m serious, if you care about Lindsay Lohan, I hope Santa brings you herpes. [TMZ]
We recently reported that Weil Gotshal will be paying associate bonuses for 2012 in January 2013. This was a return to the firm’s historical practice, after two years of trying out December as the payment month, but some readers attributed ulterior tax motives to the firm.
The firm just issued its bonus memo for this year, announcing its latest position on the timing of bonus payments. And Weil diverges from the Cravath 2012 bonus scale, actually….
* Don’t forget to add your résumé to the flood for our open positions on Above the Law. At this point, you might want to send a picture to get our attention. Not of yourself, but you know, Twinkies, peep-toed shoes, something that we actually care about. [Above the Law]
* Legendary union leader Marvin Miller died today at the age of 95. This is a guy who lost a huge case at the Supreme Court fighting against Major League Baseball, and still found a way to win. He wasn’t a lawyer, but he mastered the law. [USA Today]
* Jersey Shore residents are suing over sand dune protection from storms. They’re not suing because they’re weren’t protected enough, they’re suing because the new sand dunes block their ocean view. [Asbury Park Press]
* Yahoo! and NBA lawyers might need to talk about what, precisely, the NBA is endorsing. [Marc Edelman Blog]
* I’m going to go on and vote “no” on the question of whether or not the U.N. should get to “govern” the internet. Wait… I don’t get a “vote” on what the U.N. should do? Well, that sounds like a good reason to go back to not giving a crap about anything the U.N. says. [The Volokh Conspiracy]
* Looks like the wheel finally came ’round on InTrade. [Dealbreaker]
Yesterday, Cravath made it rain with a decent bonus scale, especially for those who survived the meltdown. A fifth-year associate at Cravath is making $230,000 in base salary and will receive a $34,000 bonus. Nice work if you can get it. (Actually, it’s not nice work. It’s grueling, soul-crushing. Luckily, most people can’t get it.)
Soon after the Cravath bonuses came out, Weil Gotshal issued some bonus news of its own. The firm is expected to match Cravath, but yesterday Weil announced that it won’t pay bonuses until the end of January, 2013. The timing represents a change for Weil; in recent years, the firm has paid out bonuses in December, not January.
Is it no big deal? Well, if you are a fifth-year expecting a Cravath-level bonus, it could be a huge deal. That bonus is going to push you over the $250,000 mark, and that could make a big difference if we’re talking about 2012 versus 2013…
Around here, one can’t mention the concept of something being “overrated” without reference to one of the weirdest and most enduring ATL comment memes, a play on the late, great Hitch’s assertion that the four most overrated things in life are “champagne, lobster, anal sex, and picnics.” So who are the, um, lobsters of Biglaw?
Last week, we had a look at what our audience considered to be the most underrated Biglaw firms, by practice area. Today, inevitably, we turn it around and have a look at what you’re telling us are the most overrated firms.
Among other things, our ATL Insider Survey asks attorneys to nominate firms with overrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.
To be sure, these survey results need to be taken with some buckets of salt — we realize that, for some, answering this question might be a chance to take an easy shot at a more successful rival or competitor. Of course, there are crazy people who will tell you that such paragons as Benjamin Franklin or Tom Brady are “overrated,” but that probably says more about the person making that statement than anything else. But that said, these survey responses are a fun glimpse at which firms Biglaw attorneys think are more sizzle than steak….
Last month, we discussed an interesting case that was pending before the New York Court of Appeals, the state’s highest court. The question presented: whether an adult entertainment club is entitled to a sales tax exemption for admission and lap dance fees under the theory that these dances qualify as “dramatic or musical arts performances.”
Flying with the speed of boobie tassels attached to a stripper gyrating furiously around a pole, the court handed down its ruling just a few short weeks after oral argument. Here’s what the court held….
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
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:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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 seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.