Law And More

NLJ 350: Are leaned-in women too aware to pursue big-time career in legal sector?

Face it, a career path in law was always dificult.  From what I have observed, it's a whole lot easier and more lucrative making a professional life in financial services.  Now, of course, as the legal sector is rocked by change and most firms can't respond effectively and fast enough, maybe smart folks steer clear of getting ahead in law.  Or even entering it.

So, it might be a sign of the aware leaned-in women that, as THE NATIONAL LAW JOURNAL reports, females only represent one-third of attorneys in the NLJ 350 and only 16% of the equity partners.  Women may be deciding this isn't the game for them. 

For example, if they do enter it, they may make the decision to only invest so much of their energy in upward mobility and the rest in carving out another game for themselves.  Those could range from establishing a legalzoom-type service in divorces or becoming a career coach for those in transition.

I had a similar ephiphany about 18 months ago.  Social media became a glutted ever-changing field.  I opted out and hightailed it back to executive communications.   The big bucks rolled in, and on my terms.  I never looked back.

Kamala Harris: This "real deal" CA AG gets profile in VANITY FAIR

With gushing text by J.J. Abrams and a photo by Annie Leibovitz, California Attorney General Kamala Harris is profiled in the July 2013 of VANITY FAIR (not available online). 

 In addition to her "movie-star" good looks, she is saluted for her belly laugh.  The profile also mentions that "... she fought banks to win an estimated $20 billion settlement for the state's mortgage-fraud victims." 

Here in Connecticut when now-U.S. Senator Richard Blumenthal was Attorney General he didn't get any of this sort of attention.  That was even though he was a relentless crusader for the little guy and gal.

Hillary Clinton: Tweeting provides an age-lift

The Hillary Clinton brand needed an age-lift, at least if it's going to go up against New Jersey Governor Chris Christie in 2016.  A Baby Boomer, she's in her mid 60s.  A Generation Xer, he's in his early 50s.  Among politicos, he's her equal in strategy and tactics.

Through using Twitter, Hillary might have narrowed the age gap.  As THE WASHINGTON POST reports her Twitter persona is cool.  Instead of grimly Leaning In, she self deprecates.  That includes making fun of her signature pantsuits. 

In addition to the matter of age, there's the Benghazi issue.  According to Gallup her favorability rating has gone down to 58%. 

BigLaw: Maybe growth in body count shouldn't be goal?

Is growth in number of employees an anachronism, at least in terms of goals?  Could be.  Why, for example, does any business want more employees on the payroll when there's the cost-efficient option of primarily using a just-int-time workforce?  No surprise, in May temp agencies generated a ton of new jobs.

The National Law Journal survey of law firms found that head count grew 1.1% in 2012.  Maybe that's a good thing.  Law firms are steering clear of bulking up on manpower.

Elena Araoz: Did Trolman law firm fail to read terms and conditions of contract?

Is it possible that a law firm used promotional materials which it shouldn't have, based on the original terms and conditions of the contract?  That's what the lawsuit filed by actress Elena Araoz will determine.  It is against the advertising agency Levinson Tractenberg Group.

The NEW YORK POST reports that back in 2009, Araoz was filmed in a satiric ad "Machete." It derided a trivial lawsuit about a paper cut, contending the paper had been too sharp.  The rights to showing the ad only extended for one year and in local markets.  Then, Araoz was informed that the law firm Trolman was among organizations still using it at the current time, outside the local area.  Its message was that it couldn't win every lawsuit.  

Jesse, Sandi Jackson Jr.: Both going to slammer, but at different times

The Jesse Jackson political brand took a major hit.  As POLITICO reports, now that son Jesse and his wife Sandi have worked out a plea, they will be sentenced to the slammer.  They will also have to pay back the $750,000 siphoned off the releection funds for personal use.  Because there are young children involved, it has been worked out that they will serve time at different times.

So, forever, there will be speculation about the why.  How could Jr. risk an influential political career for living high.  The funds embezzled went for stuff like a Rolex watch and house renovations.  In politics, with everyone gunning for you, surely he had to anticipate being caught.

Will this end the beginning of the Jackson political dynasty?  Or will one of Jr.'s kids take up the mantle of public service? 

Those Orrick Business Cuts: Who will lead, manage BigLaw?

Layoff news is always a hot topic in the downsizing legal sector as it slouches toward the future.   The latest from Orrick is especially attention-getting. That's because, as Thomas Reuters reports it, the business side got hit.  The non-lawyer positions of human resources officer and knowledge management officer have been eliminated. 

Orrick had experimented with bringing in non lawyers to oversee the business of the law firm.  Some argue that's the way it should be since law has become a business - and a highly competitive one.  Others argue that having businesspeople making decisions in law firms would compromise the quality and integrity of the legal ones.  The business side might hammer the lawyers to have the case settle rather than go to trial, as a measure of cost-efficiency.

Most firms continue to have non-lawyer marketing executives. They also use outside marketing communications and public relations firms.  That's also putting the business of the law firm in the hands of non lawyers.  Yet, this marketing piece usually gets ignored in discussions of having law firms operated by the MBA types.

 

"US v Martoma" - Trial November 4 (Fall preview starting to shape up)

Mathew Martoma, like Rajat Gupta, has declared himself not-guilty of charges related to insider trading.  His trial in "US v Martoma" is now set for November 4 by U.S. District Judge Paul Gardephe, reports BLOOMBERG.  His lawyer Richard Strassberg wants a later date, contending that in September he has another trial before Judge Rakoff.  So far, the date stays set.

The Martoma trial could be the "big one" in Manhattan federal courts.  That's because what he allegedly did happened when he had been employed at SAC hedge fund, headed by Steve Cohen who himself will be appearing before a grand jury.  The prosecution contends that through insider information about Elan Corp's Alzheimer's drug, Martoma generated $276 million for SAC. 

All ears will be listening for anything in the testimony or evidence which leads directly to Cohen.  In addition, both the business and legal media will be deconstructing Strassberg's defense strategy.  That has become as compelling to us as that of the two teams at the SuperBowl.

 

 

2016: Will it be 2 lawyers, Clinton and Christie?

New Jersey Governor Chris Christie is probably the only one who can take on Hillary Clinton in 2016.  And they both took steps which seem to indicate they are seriously contemplating a run.

For example, a slimming Christie now called a special election to fill the now-empty Lautenberg U.S. Senate seat.  It will cost the state taxpayers millions, reports THE NEW YORK TIMES, and ticked off both Democrats and Republicans.  But the risk might be worth it.  He wants to win by a landslide in the general election and that move could ensure it.  A big win can't be ignored by GOP fundraisers who will see that a bet on Christie for 2016 could be money well spent.

Meanwhile, Clinton has bounced back to an energetic healthy self.  In public, she is self-deprecating, making fun of her signature pantsuits.  She is all better from her medical problems.  And there are no longer signs of jet lag from the non-stop traveling of her previous job as U.S. Secretary of State.  Her age can't be used against her, just like Christie's weight can't be used against him either.

Pitting the two smart lawyers turned politicos against each other could be an amazing race.

Phoenix School of Law: Shareholder value v consumer (student) needs

The interesting thing in the lawsuit filed by two former Phoenix Law School tenured professors is this: There will be a test of how much responsbibility to shareholders can over-ride the needs of consumers, that is the students.  Phoenix is a for-profit educational institution.  Another issue will be the rights of the employees, in this case, the teaching staff.

As THE NATIONAL LAW JOURNAL reports, Michael O'Connor and Celia Rumann have sued Phoenix, owned by the InfiLaw Corporation.  They had lost their jobs.  They contend that the policies and procedures of the institution put the priority on increasing profits.  That's, they claim, at the expense of not only students but also the workforce.  Regarding the latter, like most for-profit enterprises, it, the lawsuit states, seeks to reduce the number of faculty and tenured professors.

If this gets to trial, the business media as well as security analysts will be watching the battle between the rights of investors versus those of employees and consumers.  With enough attention, this could become an issue in Congress.  It could have larger implications than the lawsuits against non-profit schools of law for allegedly publishing misguiding job data.