* Studies suggest that the more elite the school, the more likely its female graduates drop out of the work force after getting married and having kids. Women who run in elite circles and are therefore more likely to marry into financial secure partnerships are also less likely to keep grinding away at a job in order to put their kids through school? No kidding. [The Careerist]
* Administrative Law Judges file suit over perceived quotas that they claim trigger the depletion of Social Security. Cost-cutting legislators think the ALJs should be depleting the fund more. Blerg. [Washington Post]
* Check out the T-shirt sold at Santa Clara University. The proximity to the Santa Clara Law shirts is… fitting?
As both trial lawyers and journalists well know, there are (easily more than) two sides to every story. The same underlying events can give rise to completely different narratives, depending on whom you talk to.
Yesterday we wrote about Weil Gotshal’s reaction to losing two litigation partners to Quinn Emanuel in D.C. Since our story was published, we’ve heard from multiple sources who vigorously dispute our prior tipsters’ version of events….
Two litigation partners in the Washington office of Weil Gotshal, Michael Lyle and Eric Lyttle, have left Weil to join the D.C. office of Quinn Emanuel. Lyle, a successful trial lawyer who also worked in the White House during the Clinton Administration, was particularly prominent at Weil Gotshal: he served as managing partner of the D.C. office and was a member of the firm’s management committee.
Quinn Emanuel has been on a lateral hiring tear, so it’s not exactly shocking when they lure stars away from other firms. And QE’s Washington office has been particularly active on the hiring front. Just last month, for example, they hired a longtime federal prosecutor, Sam Sheldon, deputy chief of the Criminal Division’s Fraud Section, out of the Justice Department.
So here’s what is especially interesting about the Lyle and Lyttle departures: how Weil reacted to the news. Let’s just say Weil didn’t take it sitting down….
* What to do when your federal agency’s website has been hacked by Anonymous and you’re unable to post a major report online for public dissemination? Well, just ask a law professor to do it for you on his blog; that’s not embarrassing, not at all. [WSJ Law Blog]
* The many victims of the Deepwater Horizon disaster can now rejoice, because yesterday, Transocean pleaded guilty to violating the Clean Water Act, and will pay the second-largest environmental fine in United States history to the tune of $400 million. [CNN]
* Money takes flight: eleventy billion Biglaw firms are behind the beast that is this awful airline merger, but taking the lead are lawyers from Weil Gotshal for AMR and Latham & Watkins for US Airways. [Am Law Daily]
* After questioning the validity of one of the NBA players union’s contracts, Paul Weiss is withholding details about it thanks to the government’s intrusion. Way to block nepotism’s alleged slam dunk. [New York Times]
* “When is the last time you took the biggest financial institutions on Wall Street to trial?” Elizabeth Warren took the Socratic method to the Senate Banking Committee and she was applauded for it. [National Law Journal]
* If you liked it, then perhaps you should’ve put a ring on it, but not a Tiffany’s diamond engagement ring that you’ve purchased from Costco, because according to this trademark lawsuit, it may be a knockoff. [Bloomberg]
* “We feel very badly for Megan Thode.” A Pennsylvania judge ruled against the Lehigh student who sued over her grade of C+ because let’s be serious, did ANYONE AT ALL really think he wouldn’t do that?! [Morning Call]
Few people are happier about the world’s surviving the Mayan Apocalypse than new partners at top law firms. Can you imagine slaving away in Biglaw for almost (or even over) a decade, finally winning election to the partnership in late 2012, and then having the world end before your hard-won partner status took effect?
Fortunately that didn’t happen. Heck, we didn’t even go over the fiscal cliff. But some people will have to pay higher taxes this year (and for many years to come).
Like these people: the talented and hardworking lawyers who, as of January 1, 2013, became partners of their respective law firms. Let’s find out who they are, so we can congratulate them….
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….
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…
Now is the time on ATL when we dance — around the subject of money. With just two months left in the year, law firms are focused on collections, associates are focused on bonuses, and partners are focused on profits. Even though money is not the be-all and end-all of law practice, as we have emphasized in these pages before, it’s a topic that people follow — and a topic that we will therefore be covering closely in what remains of 2012.
Earlier this week, the American Lawyer magazine touched upon a topic that doesn’t get as much attention as it should in the world of Biglaw: compensation for non-equity partners. Let’s take a look at Am Law’s findings….
Hurricane Sandy hit the legal world hard, as we’ve chronicled in these pages. And many lawyers and legal employers are stillfeeling its effects — quite literally. If you work at one prominent downtown law firm, for example, we hope you’re wearing thermal underwear.
As we mentioned on Friday, some individuals have been exploiting the Superstorm Sandy crisis to take advantage of others. The Justice Department and the SEC have issued warnings about various “Sandy scams.”
On the opposite end of the decency spectrum, some lawyers and law firms are stepping up to the plate and supporting Hurricane Sandy relief and recovery efforts. Let’s see what they’re doing — and give them some well-deserved kudos for their work….
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
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