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New Enforcement Chief Aims to Restore Confidence in SEC
As the top cop at the Securities and Exchange Commission, Robert Khuzami has spent his first six months as the director of the Division of Enforcement tackling a cleanup of major proportions. He's undertaken what many call the most sweeping changes of the division in 30 years. Under intense scrutiny from Congress and the SEC's own inspector general, the agency has come to a watershed moment. But change isn't easy, with staff reporting insecurity and doubt as they struggle to find their place in the new regime.Mintz Levin Loses Bid to Up Diversity
In 2005, Mintz Levin unveiled a major initiative to enhance the firm's diversity, hiring 12 predominantly minority labor and employment attorneys in one fell swoop. Now, however, the attorneys have scattered to competing firms, leaving in their wake questions about how the much-touted group could fall apart in such a short period of time. Though D.C. managing partner Cherie Kiser says the group had the firm's "full support," some say Mintz Levin didn't put much emphasis on cross-selling its services.The Billable Hour's Staying Power
It may not get much respect, but the billable hour sure has a lot of staying power. First appearing in the late '50s, the hourly billing rate caught on in popularity, partly because law firms could use it as an excellent income predictor. But as operating expenses began to mount, firms had to raise hourly rates, and then hourly quotas for attorneys -- and thus began a vicious cycle. But even with a host of alternative billing models, and many critics of hourly billing, the billable hour endures.Manhattan federal district court judge John Keenan also sanctioned plaintiffs lawyer Gary Douglas $2,500, but the lawyer avoided sanctions on other behavior that the judge found inappropriate.
D.C. Firms Assess Price of Keeping Up With Next Round of Associate Raises
Eight months after Simpson Thacher raised starting salaries for first-year associates to $160,000, salaries for first-years at most of the 200 largest firms nationwide remain bunched at that rate. What New York firms had hoped was a raise too rich for out-of-town competitors with more pedestrian profits instead looks to be a failed attempt to segment the market. And now firms are bracing for another round of raises, probably ignited by a New York corporate firm looking to up the bidding war for talent.Politics, History Hinder U.S. Legal Community From Showing Support for Iranian Lawyers
Broad Impact Seen in AT&T Calling-Card Ruling
In a decision that could cost AT&T Corp. millions and trigger more litigation in the telecom industry, the FCC has denied a request to waive unpaid fees accrued through prepaid calling-card services. At the crux of the ruling is the FCC's struggle to distinguish between "information services" and "telecommunication services" -- definitions blurred by new Internet technologies. The FCC order set a clear standard, ruling that "enhanced" phone calling cards are no different from regular calling cards.In Executive Privilege Fight, More Talk Than Action
The bluster and bluffing may be a smoke screen. In fact, both sides have reasons to seek a compromise.Trending Stories
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