Big Law lawyers have a natural tendency to assume that in-house corporate law positions are a great career move. And sometimes they are. As with any big step, it is important to be aware of some fairly serious differences between law firm life and in-house life. First of all, let's start with money-and I do not mean what the lawyer earns-I mean what the lawyer costs. Here is a key difference between being a law firm lawyer and an in-house lawyer-in the law firm, you are a source of revenue, but in a corporation, you are an expense. Inside of a law firm, you are the "product" that the law firm sells. In theory, the law firm has every incentive to train you, nurture you, retain you, keep you happy and otherwise seek to ensure that the quality of your work product is top notch. From a purely economic standpoint, you are dollars in the door, assuming the system is working as it should. Inside of a corporation, you are a line item on the … [Read more...] about Big Law to In-House?
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The abrupt resignation of Latham & Watkins chairman William Voge in light of “communications of a sexual nature” has left many in the industry scratching their heads. Until recently, Voge balanced his leadership responsibilities at Latham, a $3 billion-a-year business and one of the world’s preeminent law firms, with roles on the boards of several nonprofit organizations, including at least two groups rooted in Christianity. And, long before he entered the world of Big Law, Voge had a modest upbringing on a farm in Iowa and became the first in his family to attend college—humble roots that he sometimes referenced in public speaking events and media interviews after taking the helm at his firm. Yet, as Latham put it in a statement on Tuesday, Voge stepped down after engaging in conduct that, “while not unlawful, the executive committee concluded was not befitting the leader of the firm.” A Law360 article regarding Voge’s … [Read more...] about Fallen Latham Chair Bill Voge Rose From Iowa Farm to Big Law Pinnacle
Following a wave of controversy doubting the constitutionality of a new press law bill, the National Press Authority (NPA) affirmed that the new draft law totally conforms to the provisions of the Egyptian Constitution. The article 29 of the draft law was approved by the parliament last month and sent to the State Council for review, and states that journalists could be imprisoned if published stories went against an individuals honor or incited discrimination or violence; the article was considered too vague and could easily imprison journalists who don’t deserve it. In a press statement, the NPA said the controversial article 29 is compatible with article 71 in the Egyptian Constitution, though the NPA has decided to likely cancel the article following the controversy. MP Talaat Khalil criticized the presentation of the draft law in the agenda appendix of the plenary session, saying that “There are ambiguous articles that may undermine the freedom of opinion and … [Read more...] about The new press law bill is constitutional, National Press Authority says
SCOTTSDALE, Ariz., Dec. 13, 2018 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) (the “Company”), with products bottled under the trademark Alkaline88®, announced today that, following the passage of the Agriculture Improvement Act of 2018 (Farm Bill), the Company is well-positioned to capitalize on the opportunity to be one of the first national U.S. beverage companies to bring the true water-soluble, full-spectrum features of bioactive cannabidiol (CBD) molecules from hemp plants to U.S. consumers through its A88 Infused Beverage Division, Inc. (A88 Infused). /EIN News/ -- “We are very excited that Congress has passed legislation redefining hemp to include extracts, cannabinoids and derivatives, which will permanently remove hemp from the Controlled Substances Act (CSA),” said Ricky Wright, President and CEO of The Alkaline Water Company. “This is a significant step forward for consumers who are looking … [Read more...] about The Alkaline Water Company Commends Farm Bill Passage as Driver for Consumer Access to CBD-Infused Beverages
On a Sunday morning in 2010, Steven Wall was given an ultimatum by his wife and his boss: Get help for your drinking or you'll lose your marriage, your two young daughters and your job. Wall, the managing partner of internationally renowned law firm Morgan Lewis, had just returned from an epic bender during a business trip. He'd tried to quit drinking several times before. But the conversation that Sunday proved to be the major turning point in his life. "Hearing what they had to say was like being hit on the head with two-by-fours," Wall said. Being told he could lose everything he loved, he agreed to seek treatment. Wall's drinking problem, while severe, stemmed partly from how he tried to manage the many pressures of his job. In that he is hardly unique. Read More A landmark study of more than 10,000 attorneys conducted by the American Bar Association and the Hazelden Betty Ford Foundation in 2016 showed that 36% of practicing attorneys screened positive for problem … [Read more...] about He made his way to the top of ‘Big Law.’ Then his drinking almost brought him down
The bankruptcy filing by The Weinstein Co. Holdings LLC this week isn’t the only Chapter 11 case to leave law firms holding the bag on unpaid legal bills. Citing fictitious subsidiaries and potential fraud, health services company Constellation Healthcare Technologies Inc. and its subsidiaries filed for bankruptcy on March 16 in Central Islip, New York, owing nearly $4 million to four law firms. DLA Piper and Thomas Califano, U.S. co-chair of the global legal giant’s restructuring practice, are advising the debtor in its Chapter 11 case. The collapse of the medical billing company comes a little more than a year after it was taken private following a $309.4 million sale to its founder Parmjit “Paul” Parmar and CC Capital Management LLC, a private investment firm started in 2015 by Chinh Chu, a former top dealmaker at buyout giant The Blackstone Group LP. Constellation, which on its website lists a headquarters in Houston but in bankruptcy court … [Read more...] about Health Care Bankruptcy Leaves Big Law in the Lurch