Could This Be The Law School Graduate With The Most Student Loan Debt In The World?
Oy. This person's net worth is completely negative!
Morning Docket: 04.27.15
* The job market may be "improving," but people aren't going to start applying to law school in droves any time soon. There's been a 40 percent drop in applicants since 2005, and according to LSAC's latest data, "the downward spiral is still… spiraling." [WSJ Law Blog] * Lines to see what could be one of the most historic arguments before the Supreme Court started forming last Friday, but the rest of the country will have to sit back and wait until June to see if a constitutional right to same-sex marriage will be declared. [Reuters] * Kris Jenner was just hit with a six-figure lawsuit thanks to model Kendall Jenner's 19th birthday party, which was allegedly complete with more than 100 guests and a male stripper. Don't worry, mom, the stripper already spanked your daughter. [Ministry of Gossip / Los Angeles Times] * The latest edition of the Am Law 100 rankings are out, and it looks like gross revenue, revenue per lawyer, and profits per partner are on the way up at most firms. You'll never believe which firm is the new No. 1. We'll have more on this later. [American Lawyer] * Hey, here's some info you've never heard before now! People who graduated from law school in 2010 are still screwed because they're drowning in debt and some have never worked as lawyers! Never fear, the New York Times is on it! [DealBook / New York Times] * “Obviously, the concussion affected my judgment — oops, I shouldn’t say that, given my day job." At 92 years of age, Judge Robert Sweet of the S.D.N.Y. splits his time between legal pirouettes in the courtroom and skating pirouettes on the ice. [New York Times] * "It’s time for restraint of the federal government’s over-aggressive weed warriors.” States that have legalized pot are tired of the Feds prosecuting their citizens, and that's what the Respect State Marijuana Laws Act of 2015 aims to stop from happening. [High Times] * "[L]awyers are naturally drawn to writing because we spend our days working with words." If you're a lawyer thinking about writing a legal thriller in your spare time, you're not alone. Just ask Scott Turow and our very own David Lat. [National Law Journal]
How MyCase’s Smart Spend Can Help Increase Your Profits
This tweak to your financial management seems like a no-brainer.
Morning Docket: 03.20.15
* Per a recent study, the class of 2010 is still screwed when it comes to securing work as attorneys. There are plenty of would-be lawyers working in "tennis instruction, office management, lingerie sales, and pest control." [WSJ Law Blog] * Law schools may be admitting less qualified students, but when the bar exam results are bad, it's obviously the bar exam's fault. Is it even fair to make new lawyers have to pass a bar exam at all? We should have more on this bar exam backlash later today. [DealBook / New York Times] * Following layoffs in two other firms' litigation practices, McDermott Will & Emery is losing three of its top litigation partners. Two are expected to decamp to Paul Hastings, and one is abandoning ship for King & Spalding. Yikes! [Big Law Business / Bloomberg] * Law school applications are on the verge of hitting a 15-year low. Don't worry, cautions LSAC, because "the rate of decline [in applications] is slowing." Check out the sad (yet amazing) picture in the article and see if it makes you feel better. [Bloomberg Business] * Undergrads at Villanova got a crash course in how to pay for law school this week, and were hopefully scared straight when they found out the majority of law students take out loans and "typically accumulate around $100,000-$200,000 in debt." [The Villanovan]