When was the last long trip you took? For many of you, especially those of you who work at law firms, it might have been you post-bar-exam trip or your honeymoon. But it was probably a really long time ago.
How would you like to go on a trip that never ends? How would you like to leave your office behind and visit different countries, learning about different cultures and expressing yourself along the way?
If you have a camera and a laptop, you might be able to turn this dream into a reality….
In last week’s column, I focused on vacation planning for those in Biglaw looking to take some time off with their families. Weekends do not count as vacations. If the best lasting memories you can create for your children involve a stop at the bagel store for an ET with olive cream cheese on a random Sunday morning before you head into the office, you need to take a real family vacation.
But even those without families need and deserve time to recharge. As with anything in Biglaw, you just need to be smart about it. First off, you need to be a bit more assertive about your right and need for some time off. There is a perception in Biglaw that singles or childless couples have plenty of fun on the weekends, and as such do not need vacation time as much as families. That is bunk, but perceptions matter….
Time for a break from the bad news. There is no fun in checking ATL and seeing layoff news on a daily basis. Even though that sort of action is likely to continue, as firms finally come to grips with what sophisticated clients are willing to pay for. Which is basically partner time, with allowances for some associate and paralegal time on occasion. In the good years when clients were gorging on legal services as if sitting at a ten-course chef’s dinner, partner time was the indulgent dessert. Now clients are eating at the local diner, and partner time is the eggs and sausage $4.99 main course. You hope the customer is willing to pay for a cup of coffee too, and get kind of worried that the diner across the highway is giving away the coffee for free. Because they are, and their glop tastes just as wonderful as your glop.
Vacations and Biglaw have an interesting relationship. For partners, late August and the end of the year were usually guaranteed time off, barring a trial or a deal in progress. For associates, it was a different story….
Just sit right back and you’ll hear a tale,
A tale of an expensive trip
That started from the Mediterranean
Aboard this gigantic ship.
Biglaw partners have to get together somewhere to hash over the business. Usually they meet in the lavish home office or rent out a hotel somewhere. In good times, that might be a luxury hotel in an island paradise. But I’ll bet no one would dare risk the PR blowback of holding a partner circle-jerk in a tropical resort in this economy, right?
One firm decided to see that bet and raise it. They’ve rented one of the most luxurious vessels in the world for a Mediterranean cruise. The ship be… sailing?
Let’s see whose partners are going on a “three-hour tour,” shall we….
Feel free to put this back in your carry-on luggage.
It’s been a while since we’ve written about the anti-rights disaster that is the Transportation Security Administration. But they’re still there, still abusing people’s rights under the guise of “making us safer.”
Ironically, I’m writing about TSA today because they are relaxing their restrictions. The TSA has decided to allow small knives and golf clubs on the plane.
So, for those playing along at home, you still can’t have liquids over three ounces on the plane. But knives, you know, THE THINGS THAT THE TERRORISTS ACTUALLY USED TO TAKE OVER THE PLANES ON 9/11, are okay now….
‘They stole [accreditation] from us. Sneaky little ABA. Wicked, tricksy, false!’ — FAMU Law
Ed. note: Due to the Presidents’ Day holiday, we will be on a reduced publication schedule today. We will be back in full swing tomorrow. We hope you enjoy your day off (or feel free to lament your lack thereof in the comments).
* “[T]hey don’t want to hear nothing.” Vedel Browne, the man accused of robbing Stephen Breyer at machete-point while the justice was vacationing in his home in the Caribbean, now claims that he’s innocent, mon. [St. Kitts-Nevis Observer]
* You know what, the farmer in the Super Bowl commercial probably didn’t have to deal with bullsh*t like Monsanto’s seed patents, but today’s farmers do, and they’ll argue their case before the Supreme Court this week. [New York Times]
* “I’m a betting man. And I would bet and give odds that Sullivan & Cromwell has never said that publicly.” Who dares question S&C’s stance in the hot mess that is Herbalife? None other than Carl Icahn. [Am Law Daily]
* Here’s an important Biglaw math lesson that’s been provided to us via California-based firms like Irell & Manella, Munger Tolles, and Orrick: a little revenue minus a lot of partners equals profitability. [Recorder]
* Amid a flurry of filings on Valentine’s Day, love must’ve been a battlefield for the embattled Dewey & LeBoeuf refugees who were in desperate search of their once promised 2011 bonuses. [WSJ Law Blog (sub. req.)]
* From the department of things that suck: having to defend your office’s alleged “underhanded tactics” in a $150 million wrongful conviction case while you’re trying to get re-elected as district attorney. [New York Times]
* We got bitches in the office lawyerin’ on, and they ain’t leavin’ till six in the mornin’ — unless they want to be fired. An ex-Travers Smith trainee claims she was canned for leaving the firm “early”… at 6:30 a.m. [Telegraph]
* If it weren’t for Cosmo, this woman wouldn’t have known her landlord was an alleged creeper. A Maryland lawyer now faces criminal charges for allegedly filming his female tenants in the nude. [Washington Post]
* “We wants it, we needs it. Must have the precious!” The ABA officially put Florida A&M on notice that its law school accreditation may be in jeopardy if they don’t shape up in terms of bar passage. [Orlando Sentinel]
* What do you do the second you step off a cruise ship that’s been described as “a floating toilet, a floating petri dish, a floating hell”? You grab the very first lawyers you see, and sue! [Nation Now / Los Angeles Times]
I have previously suggested that the members of the U.S. Supreme Court have a private jet at their disposal. The executive branch has Air Force One and Air Force Two. Isn’t the co-equal third branch of government entitled to “Air Force Three”?
I’m being quite reasonable. I’m not advocating for “one justice, one plane,” a la Reynolds v. Sims. I think it’s fine for the nine to share a single plane and divvy up the hours amongst themselves, not unlike customers of NetJets. Given the security threats faced by the justices — see, e.g., Justice Stephen G. Breyer, who has been robbed at knife point and victimized by a burglar — it would seem prudent to reduce their commercial flying.
So that’s the case in favor of “Air Force Three.” The case against: if the justices didn’t fly commercial, then we wouldn’t have fun celebrity sightings like this one….
These days, traveling for work can be a real pain thanks to the efforts of the Transportation Security Administration. With all of the electronic gadgets you may be carrying with you to your destination, having to unload and reload your bags and pockets during every business trip you make can get old, and quickly at that.
If only there were something — perhaps an article of clothing — that would allow you to carry everything you could possibly need, from work-related tech gear to personal items and more. All you’d have to do is take it off at security checkpoints and then be on your way without the usual hassle. Wouldn’t that be amazing?
As it turns out, that piece of clothing exists, and it was created by a former corporate and real estate lawyer….
* While Chief Justice of the United States John Roberts made a plea to keep funding for the federal judiciary intact, we learned that student loan default cases have fallen since 2011. You really gotta love that income-based repayment. [WSJ Law Blog (sub. req.)]
* Introducing the Asia 50, a list of the largest firms in the Asia-Pacific region. When it comes to the firms with the biggest footprints, only one American Biglaw shop made the cut. Go ahead and take a wild guess on which one it was. [Asian Lawyer]
* Congratulations are in order, because after almost a year of stalling, Arnold & Porter partner William Baer was finally confirmed by the Senate as the chief of the Department of Justice’s Antitrust Division. [Bloomberg]
* Our elected officials might not have allowed the country to fall off the fiscal cliff, but the American Invents Act was put on hold, so if you’re a patent nerd, you can still be mad about something. [National Law Journal]
* In the latest NYC subway shoving death, a woman was charged with second-degree murder as a hate crime, and allegedly bragged about other hate crimes she’s committed to police. Lovely. [New York Times]
* Next time you’re trapped on a plane that’s literally filled with other people’s crap for 11 hours, don’t bother suing over your hellish experience — you’re going to be preempted by federal law. [New York Law Journal]
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: firstname.lastname@example.org.
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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