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Friday, November 21, 2008
FROM THE UPCOMING ISSUE
Discovering a law degree's downside
When Dina Allam graduated last spring with a joint law and MBA degree, she thought the combination would catch the eye of employers who could appreciate a mix of analytical skills and business know-how. In hindsight, Allam said she would have forgone the juris J.D. and pursued just the MBA. At the time she started law school, she was convinced that a law degree could open doors to a wide variety of job options. But even in good economic times, the advantage of a J.D. in landing a job in another field may well be overblown.
WEB-ONLY
Mayer Brown cuts 33 attorneys, 55 support staff in the U.S.
Mayer Brown cut 33 attorneys and 55 support staff in the United States as the law firm faces a decline in revenue in some of its practice areas. "Despite the current conditions in the worldwide financial markets, Mayer Brown is having a strong year, with an increase in gross revenue," the firm said. "A few practice areas, however" — real estate, M&A, corporate finance and securitization — "have been affected by the slowdown in economic activity."
CORPORATE GOVERNANCE
Empty voting and hidden ownership are increasingly vexing issues.
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Issue of November 17, 2008
Executive muscle
As president, Barack Obama will have to decide how he will wield the power of executive order. Will he follow the trend since the Carter administration of using more executive orders for policy initiatives instead of routine administrative matters, or because of the current heightened attention to executive orders, will he shift to other tools to lead the executive branch?
Wave of layoffs a legal minefield
The sinking economy may have triggered tough times for some law firms, but it's been a boon for lawyers hired to plan and execute layoffs in every corner of Corporate America. It's no easy task, they note, stressing that layoffs gone wrong can trigger discrimination lawsuits, wrongful discharge claims and disparate-impact class actions.
A deep lateral market's new rules
A slow economy has at least one upside for law firms: The pool of potential lateral partners has deepened. Recruiters and law firm leaders say the recent dissolution of several prominent law firms has flooded the lateral market with good attorneys in need of employment, and uncertain financial futures at a number of firms have prodded some well-established attorneys to consider their options elsewhere. With talent available at bargain prices, some firms are taking advantage of the down economy to bolster their partner ranks.
SEC enforcement settlements expected to hit three-year high in 2008
U.S. Securities and Exchange Commission enforcement action settlements are expected to hit a three-year high in 2008, according to a new study released by a New York economic consulting firm. The study projects that the SEC is on pace to reach 739 settlements by year-end "continuing a dynamic period of SEC enforcement since the enactment of Sarbanes-Oxley in 2002." More News
FEDERAL PRACTICE
Impact of Rule 502(d)
On Sept. 19, President Bush signed into law Federal Rule of Evidence 502 (Attorney-Client Privilege and Work Product; Limitations on Waiver). It applies to previously filed cases in the discretion of the trial judge and to all cases filed on and after Sept. 19. Rule 502(d) is the most innovative aspect of the new rule, and it dictates that protective orders be drafted differently than they have before. It provides that a federal court order governing waiver is binding on all other courts and third parties. More Columns
JUDICIAL SELECTIONS
Make a fresh start
One of the most critical assignments that the Constitution delegates to the president is the selection of federal judges. For 20 years, divisive partisanship has troubled the process. The elections of Barack Obama and of the 111th Senate, in which Democrats and independents will have at least a 56-44 majority, offer an opportunity for a fresh start. If both work together in a bipartisan manner, they can speed the appointment of many talented judges, who can promptly, economically and fairly resolve cases. More Opinion
Boston-based Brown Rudnick lays off 20 lawyers, 20 staff members
Pay raises for Bryan Cave associates pushed back three months
Squire Sanders asks 30 associates, paralegals to 'explore opportunities elsewhere'
Be like Barack, turn obstacles into opportunities
In the current distressed climate plaguing the legal community, let us emulate the president-elect's perseverance against adversity.
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