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Hedge Fund Sues Over General Counsel’s $10M Bonus

A hedge fund has filed a lawsuit claiming that a $10 million bonus awarded to the general counsel of Transmeta Corp. is “outrageous, illegal and unconscionable.” The stockholder’s derivative suit was filed by Riley Investment Management, which owns about 7 percent of Transmeta and has offered to buy the company,…

Feb 12, 2008 11:45 AM CST

Onetime Law Firm Gofer Now a Corporate Counsel

When Ryan Swift got a job as a gofer, making sure the coffee machine was filled and fetching sandwiches for lawyers at Holland & Knight in Atlanta, his mother told him he just needed to get his foot in the door. It turns out she was right. “I told them…

Feb 11, 2008 10:35 PM CST

ABA OKs Conditional Admission to Bar for Would-Be Lawyers with Addiction, Mental Problems

The ABA has adopted a model rule that would grant conditional admission to the practice of law to applicants who have experienced chemical dependency or mental health conditions that otherwise would have rendered the applicants unfit to practice law. The rule would grant conditional admission to such applicants who demonstrate…

Feb 11, 2008 8:03 PM CST

New Merit-Based Associate Pay at U.K.‘s Norton Rose

A well-known British firm is eliminating its traditional experience-based associate pay system and moving to a system that rewards with higher salaries those who demonstrate legal skills. Norton Rose will divide associates into three groups: those who are newly admitted, those who are essentially midlevel associates, based on their demonstrated…

Feb 11, 2008 5:25 PM CST

White & Case Partner Nominated to Serve as ABA President in ‘09

The first official act of the ABA’s new president-elect nominee today was to shake hands with one of the other two candidates in the race. Then Carolyn B. Lamm, a partner at White & Case in Washington, D.C., who works on international arbitrations, was swept up in the enthusiastic congratulations…

Feb 10, 2008 8:23 PM CST

Why are TV Lawyers Ethically Challenged? That’s Hollywood, Writers Say

Three unrepentant lawyers who changed careers and now create popular culture’s view of the profession—they write for TV’s Law & Order, Boston Legal and Shark—talked freely Friday afternoon about how and why they often portray lawyers as unethical and disgusting, as well as mangling various litigation rules and procedures in…

Feb 9, 2008 9:48 PM CST

Seven Receive Spirit of Excellence Awards

Seven distinguished practitioners were honored Saturday with Spirit of Excellence Awards at the ABA Midyear Meeting in Los Angeles for their contributions to the legal profession and society. The award, which is administered by the ABA Commission on Racial and Ethnic Diversity in the Profession, “celebrates the efforts and accomplishments…

Feb 9, 2008 3:58 AM CST

New BigLaw Perk for Struggling Associates: Career Counselor

Faced with the likelihood of associate flight, given high attrition rates, a growing number of BigLaw firms are trying a new tactic: hiring an in-house career counselor to help junior attorneys develop professionally. The career counselor’s role is to offer associates “a neutral and confidential third party to go to…

Feb 8, 2008 9:04 PM CST

Firms Boost U.K. Pay to Account for Slumping Dollar

An increasing number of law firms are hiking pay for their lawyers in London because of the slumping American dollar. Many new lawyers at U.S. firms in London make base salaries of about $188,000, more money than their New York big-firm counterparts, according to Legal Week. Several law firms have…

Feb 8, 2008 2:12 PM CST

Fashion Week Find: Power Office Attire for Women

Although many of the new styles now debuting in New York City’s Fashion Week are too fussy, ruffled or feathery for professional women, there is also good news for female attorneys. A long-standing complaint of many professional women that they can’t find appropriate designer clothing that is suitable for work…

Feb 7, 2008 10:48 PM CST

An Expert Explains How to Delegate

Effective lawyers know how to make themselves look good by helping their junior colleagues to work efficiently. A key skill required to do so, a consultant notes, is knowing how to delegate. Lawyers want to feel that they are working on an important matter. So, helping associates to understand the…

Feb 7, 2008 9:27 PM CST

GC of Troubled Sallie Mae Resigns, Says He Wants to Spend Time With Family

Sallie Mae’s general counsel Robert Lavet resigned at the end of January, in advance of two investor lawsuits against the student lender. Lavet told Corporate Counsel he resigned to spend more time with his family. “Obviously it was a difficult year, but I just decided I needed some time off”…

Feb 7, 2008 3:04 PM CST

Ex-Detroit Mayor, Now Chair of Dickinson Wright, Weighs Gubernatorial Bid

Lawyer Dennis Archer has a long list of accomplishments. He’s been a supreme court justice (on the Michigan Supreme Court), a mayor (of Detroit) and a president (of the ABA). But Archer, now the chairman of Dickinson Wright, may have a new goal: the Michigan governor’s office. Archer told the…

Feb 6, 2008 5:11 PM CST

WSJ Law Blog Writer Passes Torch

Peter Lattman is passing the torch as the primary author of the Wall Street Journal Law Blog. After two years on the assignment, he is moving to another beat at the newspaper, covering private equity, Lattman announces in a Law Blog post today. His replacement will be Dan Slater, a…

Feb 5, 2008 10:28 PM CST

Have a BlackBerry? An Outsourced Personal Assistant Awaits

Do you need the neighborhood dry cleaner to pick up or deliver a few business suits? A quick text message to India can get results fast. In yet another outsourcing trend, harried professionals—as well as blue-collar workers—are hiring low-paid workers half a world away to handle everyday tasks that can…

Feb 5, 2008 6:53 PM CST