In the wake of last week’s election, citizens from all 50 states have signed petitions calling for secession from the United States. These petitions have been filed with the White House’s “We the People” website, an initiative of the Obama administration to encourage public involvement in government. Once a petition reaches the threshold of 25,000 signatures within 30 days, the White House forwards the petition to its policy experts to draft a formal response.
It’s kind of ironic that these neo-secessionists submitted their formal demands through a government initiative specifically created by Barack Obama. It’s ironic because, while each state’s petition varies a bit in substance, the crux of every petition is “we don’t like that crazy Kenyan socialist president.”
As of this hour, only a handful of states have reached the signature threshold to trigger an official White House response. Wanna take a guess which states are ready to bail? If you guessed “states that have past experience with secession,” you’d be right. Alabama, Florida, Georgia, Louisiana, North Carolina, Tennessee, and Texas have all finished their secession petitions.
Do these petitions signal a new round of secession?
* Deep in the heart of Texas, plans are in the works for the state’s secession from the nation via online petition. The most likely White House response? Probably something like this: “HAHAHAHAHAHA!” [Hillicon Valley / The Hill]
* Paula Broadwell, better known as ex-CIA director David Petraeus’s side piece, has officially lawyered up. This guy had better watch out, because he kind of looks a little bit like her former flame. [Washington Post]
* And then they came for the Steves, but there was no one left to speak for them. The day of reckoning has finally come for the men who are being blamed for cooking Dewey’s LeBoeuf. [Thomson Reuters News & Insight]
* Law firms in Manhattan are still recovering from Hurricane Sandy. Not for nothing, but all of the staff members at WilmerHale who were tasked with getting rid of all of the rotten food in the firm’s cafeteria should get a double bonus. Just saying. [WSJ Law Blog]
* Good news, underemployed law school graduates baristas! The First Circuit just affirmed your $14.1M tip-sharing judgment. Maybe now they’ll be able to afford the Starbucks diet. [National Law Journal]
* “This lawsuit is a massive fraud on the federal courts and defendants. It has now descended into farce.” Facebook is yet again seeking dismissal of Paul Ceglia’s ownership claims. [Threat Level / Wired]
(A lot of nervous bar takers have turned to Twitter to express their anxiety. Check out a couple of our favorite tweets after the jump. We’ve also got some responses to the Texas and D.C. results, which came out today.)
* L.A. city council voted in favor of banning pet stores. Because walking your dog contributes to childhood obesitywaitwaitwhatthehell? (Elie here: Pet stores contribute proliferation of puppy mills, and puppy mills are evil. People should only acquire pets from reputable breeders, or by opening their hearts to one of the many loving animals at your local animal shelter.) [LA Times via Overlawyered]
* If marijuana gets legalized, will there be a Green Gold Rush? [Daily Beast]
* A Texas high school won’t let students vote for Homecoming unless they wear an electronic tracking chip around their neck. I didn’t realize Minority Report took place in Texas. [CNET]
* A special Halloween version of scary s**t on the internet you maybe should be afraid of. [IT-Lex]
* A bunch of alternate mottos for legal blogs, ATL included. Ours stars — who else? — the Commentariat. Nice work gang. [Legal Blog Watch]
* After the jump, Lee Pacchia speaks with Dan DiPietro of Citibank, who has a watchlist of the Biglaw firms that may fail in the near future….
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?
Our coverage of lateral partner moves is admittedly somewhat idiosyncratic. To be honest, we tend to be most interested in lateral moves when we can be the ones to break the news, in advance of any official announcement.
(For moves where we aren’t first, we tend to be more discriminating and write up only the most major ones. So if you’d like us to cover some notable partners joining your firm, please email us well before you send out your press release, and give us the scoop.)
Today we bring you news of partner moves from the Lone Star State. Some seven partners are leaving the Dallas office of Haynes and Boone. Who are they, and where are they going?
* Everyone’s happy about the Dewey & LeBoeuf settlement except the Ad Hoc Committee and its LeBoeuf retirees, who called Judge Martin Glenn’s attempt to slap them down an “insult to injury.” [WSJ Law Blog]
* While South Carolina’s voter ID law wasn’t found to be inherently discriminatory, its enforcement was still blocked because people will be unable to get their sh*t together in time for the election. [Bloomberg]
* VP debate moderator Martha Raddatz’s 1991 wedding guest list has come under fire because Barack Obama was invited. Clearly there’s a conflict of interest worth arguing about here. [Washington Post]
* This man is nobody’s “butt boy”: Tom Keefe, the interim dean over at Saint Louis Law School, will be footing a $14,212 bill for his students in the form of ABA Law Student Division memberships. [National Law Journal]
* Strippers in California, Florida, Idaho, Kentucky, Texas, and Nevada will be making it rain, because they just scored a $12.9M class action settlement. That’s a whole lot of “college tuition”! [Courthouse News Service]
* Dewey know when Judge Martin Glenn will issue his ruling on the failed firm’s proposed partner contribution plan? If all goes according to plan, we can expect to learn if the PCP’s been approved or rejected as early as next week. [Am Law Daily]
* Hot on the heels of Google’s digital-book settlement, the company announced that it would be appealing its copyright infringement jury verdict in the Oracle trial. One thing’s for sure: Judge Alsup will be angered terribly by this. [Bloomberg]
* David Askew, formerly the director of Edwards Wildman’s pro bono program, will now lead the National Association of Minority and Women Owned Law Firms as CEO and general counsel. [Corporate Counsel]
* The American Bar Association submitted an amicus brief in support of using race as a factor in college admissions, because diversity in college education is a must for diversity in law schools, duh. [ABA Journal]
* Remember the family law judge who got caught beating his daughter in a video that went viral? Now he wants the Texas Supreme Court to reinstate him, over his ex-wife’s objections. Good luck with that. [CNN]
Flash back to 2005. Tom DeLay was the Majority Leader in the U.S. House of Representatives, living in a safe Republican district, and poised to chart the course of American politics forever. DeLay was nicknamed “The Hammer” for his brutal efficiency as Majority whip, crushing all dissent from backbenchers and building a solid GOP coalition — a nickname that the fundamentalist DeLay endorses because “the hammer is one of the carpenter’s favorite tools.” In other words, Tom DeLay was a tool.
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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@example.com.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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