Careers

Maternity Leaves are Derailing Otherwise A-OK Mortgage Applications

By law, at least as the real estate industry understands the rules, a mortgage lender can’t ask a woman if she’s pregnant. But it can inquire whether her income is about to change, and if that change is for a three-month maternity leave a growing number of lenders will refuse…

Jul 19, 2010 11:42 PM CDT

UK Lawyer Debuts New ‘Annuity-Based’ Law Firm Whose Clients are Also Law Firm Investors

Forget cash flow. Equity is where it’s at, as far as the law firm of the future is concerned, predicts a well-known lawyer who is now venturing out to stake his claim to this brave new world. Only three years ago, Matthew Hudson was about to take the helm of…

Jul 19, 2010 10:43 PM CDT

Goldman Sachs General Counsel Got $38.3M in Midst of 2008 Crisis

As general counsel of Goldman Sachs, Gregory Palm clearly has a very good income. Nor, some who know him say, does the Harvard Law School graduate—who grew up the son the a union electrician in upstate New York—live high on the hog. But as a financial crisis hit the global…

Jul 19, 2010 9:37 PM CDT

Who Really Won? Record $550M SEC Fine No Big Deal to Goldman Sachs, Says NY Times

Goldman Sachs agreed to pay a record-breaking $550 million fine as part of a settlement announced last week with the U.S. Securities and Exchange Commission of charges that the bank misled investors when it offered mortgage-related securities that turned out to be toxic in a dismal real estate market. But…

Jul 19, 2010 8:53 PM CDT

Ex-AG Gonzales Subleases Office Space at Texas Law Firm

Former U.S. Attorney General Alberto Gonzales teaches a political science class at Texas Tech University and is apparently still working on a book about his years in the nation’s capital. He also makes money giving speeches around the country. But the new law firm address he recently listed with the…

Jul 19, 2010 5:05 PM CDT

W.Va. Governor Picks Lawyer, His Ex-GC, for Byrd Seat

West Virginia Gov. Joe Manchin has picked his former general counsel to fill the Senate seat of the late Sen. Robert Byrd. The Charleston, W.Va., lawyer, 36-year-old Carte Goodwin, will become the youngest member of the Senate, the New York Times reports. He will serve until a special election is…

Jul 19, 2010 11:36 AM CDT

Associate, a Pro Wrestling Fan, Sees Lessons for Lawyers

A senior litigation associate at Locke Lord Bissell & Liddell in Dallas has apparently spent way too much time watching professional wrestling. All that tube time has given associate Kip Mendrygal a chance to ruminate about the parallels between wrestling and law practice, and the lessons that can be learned.…

Jul 19, 2010 10:30 AM CDT

Law Firms with 2 Tiers of Associates Pay 2nd Ranks Up to 50% Less

For years, a number of law firms have had two tiers of partners, often differentiating between equity and non-equity holders of the same job title. Now, in a new trend that is taking hold among some California law firms, there may be two ranks of associates. Paid as much as…

Jul 16, 2010 7:46 PM CDT

Accused of Partying Too Hearty at Law Firm Event, Partner Sues 2 Associates Who Complained for $2.3M

Accused of inappropriate conduct at an alcohol-fueled law firm event at a Toronto nightclub, a partner at a well-known labor and employment boutique has sued the two associates who complained internally at Mathews Dinsdale & Clarke but not the Canadian law firm itself. By filing suit for defamation and intentional…

Jul 15, 2010 5:07 PM CDT

California Chief Justice Decides to Retire ‘While the Proverbial Music Still Plays’

Turning 70 was something of a turning point for California Chief Justice Ronald George. The justice attributes his surprise decision to retire to some careful reflection spurred by his 70th birthday, according to the San Francisco Chronicle and the Los Angeles Times. “My 70th birthday this year focused my attention…

Jul 15, 2010 1:38 PM CDT

Will Law School Credentials Bubble Burst? Law Prof Calls Trends ‘Unsustainable’

Tuition is rising at law schools even as lawyer jobs are disappearing, raising questions about whether there is a dangerous bubble that is about to burst. Even a degree from a top law school doesn’t guarantee a job, notes Indiana University law professor Bill Henderson. He spoke to U.S. News…

Jul 15, 2010 11:00 AM CDT

Looming 30-Day Jail Term Is Sad Chapter in Career of Renowned Trial Lawyer

A well-known Oregon trial attorney, Mike Shinn scored many victories over his 36-year legal career. Perhaps best known is the civil wrongful death case he pursued against a now-convicted murderer of another Portland lawyer, Cheryl Keeton. It led to the successful prosecution of her estranged husband and killer, Brad Cunningham.…

Jul 15, 2010 12:14 AM CDT

Hogan Lovells Partner in Hot Seat After Bid for Colo. Governor’s Job Raises Plagiarism Issue

Updated: A Denver Post report that a Hogan Lovells partner running as a Republican for Colorado governor apparently plagiarized some material years ago has put Scott McInnis on the hot seat. McInnis now admits that portions of articles on water policy that he submitted to the Hasan Family Foundation in…

Jul 14, 2010 11:33 PM CDT

Meet ‘Judge Judy’ Sheindlin, Accidental Celebrity Paid $45M to Work 52 Days a Year

When Judith Sheindlin agreed in 1993 to allow a reporter for the Los Angeles Times to sit quietly in the back of the New York courtroom in which she worked as a $120,000-a-year judge on family law matters, she thought he planned to report on a case. Instead, he profiled…

Jul 14, 2010 8:33 PM CDT

Cravath Plans to Boost Marketing Dept.

How competitive is the legal economy right now? Competitive enough that one of the most renowned New York-based corporate law firms has decided it needs to boost its marketing department, reports American Lawyer in an article reprinted in New York Lawyer (reg. req.). The article, which relies on anonymous sources,…

Jul 14, 2010 7:09 PM CDT