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WHAT WE'RE WATCHING

BRAGGARTS, BILLABLES AND BURNOUT - Lawyers around the world agree: no one wants to hear you brag about how busy you are. Well, almost no one. The truth is Big Law was built by attorneys who, prior to becoming rainmakers and influential GCs, were often most well-known by their colleagues and superiors for working virtually nonstop. And many of them expect nothing less from the next generation. It's a vicious cycle, perpetuated by law firms' tendency to reward, rather than discourage, what some are calling "performative busyness"—i.e. incessantly and obnoxiously calling attention to how hard you're working (or supposedly are working). Critics say this behavior is largely driven by Big Law's obsession with the billable hour and that it sends the wrong message to young lawyers, creates anxiety in colleagues and ultimately leads to burnout. But, as anyone who's ever tried to train a puppy knows, destructive behavior is not likely to change until it stops garnering positive reinforcement. In this week's Law.com Trendspotter column, we examine why and how legal industry leaders should set healthier expectations for young lawyers.

FINDERS KEEPERS? - With all that in mind, the results of Hunton Andrews Kurth's second annual virtual "Hackathon" for summer associates make a lot of sense. As Law.com's Dan Roe reported, this year's event was aimed at solving the problem of young lawyer attrition. The program placed the summers into nine teams of five to six associates and asked each to present a solution at the end of the summer in a "Shark Tank"-style competition. Their ultimate recommendations focused on more structured feedback and mentorship, better work-life balance and parental support, and an openness to "alternative arrangements" outside the partner track that don't require as many billable hours. Firmwide hiring partner Rudene Mercer Haynes said the current generation of young attorneys has different priorities that firms need to accommodate. "Not everyone who comes to law firms is interested in becoming partner. That's a shift in mindset between the previous generation and this one, some people have other goals they're trying to accomplish," Haynes said, adding that she expects more young attorneys to request such arrangements in the future.

VENTI LEASE DISPUTE - The commercial landlord of the Westfield World Trade Center Shopping Center in Manhattan sued Starbucks for $5.2 million Tuesday in connection with the coffee chain's decision not to reopen the location for business in September 2020. The court case, brought by Blank Rome on behalf of New WTC Retail Owner LLC, contends that the failure to reopen after government authorities lifted the pandemic-era order closing indoor malls constitutes a breach of lease and prevents Starbucks from exercising its termination right. Counsel have not yet appeared for the defendant. The case is 1:21-cv-07132, New WTC Retail Owner LLC v. Starbucks Corporation. Stay up on the latest deals and litigation with the new Law.com Radar.  

EDITOR'S PICKS

WHILE YOU WERE SLEEPING

IPO NO-GO - Beijing-based Tian Yuan Law Firm is being investigated by the China Securities Regulatory Commission (CSRC), the main regulatory body of the securities industry in China. As part of the regulatory probe, Law.com International's Jessica Seah reports, Chinese bourses in Shanghai and Shenzhen have halted processing more than 40 IPOs, according to announcements made on the Shenzhen Stock Exchange. The news was first reported by Shanghai Securities News. Tian Yuan is being investigated alongside three brokers: China Dragon Securities Co, CAREA Assets Appraisal Co and Zhongxingcai Guanghua Certified Public Accountants LLP. The decision to suspend the IPOs was made in accordance with the rules of the Shenzhen Stock Exchange. However, the reasons for the suspension have not yet been disclosed. The investigation of Tian Yuan circles around its work for BYD Semiconductor, one of China's largest maker of automotive microcontroller chips. BYD filed a ChiNext application in May in hopes of raising approximately US$412 million. The stock exchange accepted the IPO application for review in June.

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"The events of January 6th were an attack on the foundation of our democracy. But this does not relieve the Department of Justice from following its own guidelines, written to preserve the very same democracy."