ABA Journal

Law Firms Beef Up For Bankruptcy Work, the Hottest Growth Area

A new survey has found that lawyers expect bankruptcy to be the hottest growth area for law firms this year. That’s no secret to law firm managers who are already beefing up bankruptcy practices. One out of four lawyers surveyed said the fastest area of growth would be in bankruptcy…

Mar 31, 2008 10:55 AM CDT

In-House Jobs Not So Cushy or Exciting, Says Veteran Lawyer

If you think a jump from a law firm to an in-house position is the ticket to a cushy, stress-free job, think again. The life of an in-house lawyer is not exactly a bed of roses. That’s the assessment of Gloria Noh Cannon, a former in-house lawyer who is now…

Mar 27, 2008 4:00 PM CDT

Misdirected E-Mail Set the Stage for Clear Channel Suits

A misdirected e-mail from Credit Suisse helped set the stage for two lawsuits filed this week by two private equity firms seeking to purchase Clear Channel Communications, the New York Times reports. The suits accuse Credit Suisse and five other banks of breaching a contract to finance the $19.5 billion…

Mar 27, 2008 3:00 PM CDT

With March Madness in Full Swing, What’s Your Favorite Cinderella of the Courts Story?

Villanova, Western Kentucky, Davidson—three Cinderellas are still dancing at the Sweet Sixteen ball—for men’s college basketball, that is. So tell us your favorite Cinderella of the Courts story, when a case with not much chance of success turned into a real winner. And what was the glass slipper that proved…

Mar 27, 2008 2:38 PM CDT

U.S. News Law School Rankings Leaked; NYU Down, Columbia Up

Updated: U.S. News & World Report posted its new law school rankings today, but the blogosphere apparently beat the magazine to the punch. Above the Law and The Shark are among the blogs that posted an advance look at the rankings (PDF posted by the Shark). Yale University is at…

Mar 26, 2008 5:35 PM CDT

Move Over AmLaw 100, Here’s the Lawyer’s Spin on the Top 50

In a reinvention of the AmLaw 100, a United Kingdom legal publication has compiled a list of the top 50 U.S. law firms based on revenue. Atop the list is DLA Piper, followed by Skadden, Arps, Slate, Meagher & Flom; Latham & Watkins; Baker & McKenzie; and Sidley Austin. Together,…

Mar 25, 2008 7:45 PM CDT

Just Say No? Associates Dish on When They Did ... and Didn’t

Plumbers get paid at a significantly higher rate for after-hours jobs. But law firm associates are often asked—no, expected—to accept last-minute after-hours work assignments, not only for no additional pay but even when the work interferes with significant family and social obligations. When should an associate just say no to…

Mar 25, 2008 4:45 PM CDT

Kvetch About Law School, Win $10K

Law students can compete to win a $10,000 scholarship by making a video about their law school worries. The One Less Worry contest, sponsored by the nonprofit student loan company Access Group, is open to anyone enrolled as a law student as of Aug. 1, Legal Blog Watch reports. Students…

Mar 25, 2008 10:48 AM CDT

Bullied at School for Years, Billy Wolfe Brings Suit, With His Parents’ Help

How is it that a student can be bullied at school, for years, without officials taking effective action to end the situation? A lengthy article in today’s New York Times attempts to answer that question, by telling the story of Billy Wolfe, from his own and his parents’ viewpoint. Now…

Mar 24, 2008 11:58 PM CDT

Wachtell Partners Make By Far the Most: $4.48M, on Average

Updated: Despite all the hoopla over megafirms’ megaprofits in 2007, the three law firms that for the first time topped $2 billion in gross revenue weren’t where the real money was being made. Once again, profits per equity partner at Wachtell, Lipton, Rosen & Katz were breathtaking—$4.48 million. The just-over-200-lawyer…

Mar 24, 2008 5:43 PM CDT

Law Firm Leverage Could Determine Which Associates Get the Ax

Small or medium-size law firms that focus on structured finance and mergers and acquisitions are hardest hit by the credit crisis. And associates could also take a hit if these kinds of firms don’t have enough of a capital cushion to weather the crisis, a legal recruiter told the New…

Mar 24, 2008 11:28 AM CDT

The Baby Effect: More Billables for Men, Fewer for Women

A Canadian study suggests that having children leads to fewer billable hours for female lawyers and more for their male counterparts. The study of 670 lawyers at an Alberta law firm found that mothers with school-aged children billed fewer hours than childless women, while fathers with preschool-aged children billed more…

Mar 24, 2008 11:06 AM CDT

‘Feeding Frenzy’ Over Expected Lawyer Layoffs at Bear Stearns

Updated: Although it’s not yet confirmed, observers expect that a significant number of the 100 or so lawyers in the compliance department of Bear Stearns Cos. will be laid off once the investment bank’s buyout at a fire-sale price by JPMorgan Chase is completed. So legal recruiters are hovering, hoping…

Mar 20, 2008 3:30 PM CDT

Besides ‘Animal House,’ What Pop Culture References Inspire You?

We learned this week that criminal defense attorney Mickey Sherman, author of the new book How Can You Defend Those People?, finds inspiration from the cult-classic Animal House. Sherman, it seems, learned from those ‘78 Delta House frat boys how to deflect guilt by blaming the system. This made us…

Mar 20, 2008 3:01 PM CDT

Thelen Cuts 26 Associates, 85 Staffers

Thelen Reid Brown Raysman & Steiner has confirmed it will lay off 26 associates and 85 members of its support staff. Co-chairman Stephen O’Neal told the Recorder and Above the Law that the associate layoffs are in response to the economic downturn, which has cut into its capital markets practice.…

Mar 20, 2008 11:15 AM CDT