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Featured Blog
Tom Cruise Drops In On Harvard Law Lecture
Prestige has its perks. A class of Harvard Law students received a surprise visit by Tom Cruise on Monday, at a class taught by his personal lawyer, Bertram Fields.
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The Legal Intelligencer
The past year was unprecedented for the legal industry when it came to the spike in tough decisions law firms had to make, but there could be light at the end of the tunnel. According to the responses from the PaLAW 2009's 14th annual Managing Partners Survey, law firms across Pennsylvania conducted layoffs and instituted cost-cutting measures with greater frequency than ever before. But the overwhelming majority of the responding managing partners predict that will be the end of some of those trends.
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Fulton County Daily Report
At a joint press conference last week, Fulton County Superior Court Chief Judge Doris L. Downs and District Attorney Paul L. Howard Jr. declared an "economic state of emergency" looming over the Georgia county's justice system that could mean the dismissal of almost 1,000 employees. Downs said that the various segments of the county's criminal justice system were informed Nov. 16 that a $146 million shortfall in Fulton County coffers meant those departments must cut 25 percent of their 2010 budgets.
The National Law Journal
Amid weak demand for both corporate and intellectual property legal work, Minneapolis-based Robins, Kaplan, Miller & Ciresi has formed a new group with lawyers from both disciplines to help clients make money from their patent portfolios. The firm's strategic IP monetization group is a brainchild of the business group, said John Houston, who chairs the business department and leads the new group. The idea behind the group is to help companies squeeze more value from patents without using litigation, he said.
The American Lawyer
Seyfarth Shaw is cutting associate salaries by 5 percent to 10 percent for all first-years who start in 2010, according to J. Stephen Poor, the firm's chairman and managing partner. The firm declined to comment beyond a statement Poor released in which he tied the salary reductions to "pressure" its clients are feeling to cut costs. The announcement came on the same day Seyfarth informed half of its 16 incoming first-years scheduled to start in January that they would not start until October 2010.
Fulton County Daily Report
Sutherland will shift from lockstep associate compensation to a performance-based system in January. The firm's roughly 175 associates will be grouped into three tiers, with advancement and pay increases pegged to their mastery of various skills. "The driving force in the change is to be able to communicate to the client that an associate has a certain level of skills, and that's what you're paying for," said the firm's professional development director. "Now, the person is not a fourth-year just through inertia."
The National Law Journal
The federal judiciary saw a huge spike in online applications for clerkships from last year, according to a release from the judiciary. The Web site used by about two-thirds of all federal judges to find clerks saw 401,576 electronic applications between Oct. 1, 2008 and Sept. 30, 2009. That's a 66 percent increase from that time period last year, when 241,529 applications were turned in. The applications came from only 10,722 applicants this year, meaning each applied for an average of about 38 clerkships.
Want to see more charts and rankings in the legal industry? You can check out the latest Am Law 100, Am Law 200, and the A-List Rankings!
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