law firm partner salaries Forum

[JazzOne]

So is it insider trading if an attorney who is in-house counsel at the fortune 500 company he is working for buys up stock when he knows that in 2 days he and the board members will be signing a deal on a merger that is going to make their stock skyrocket?

if this isn't, what the fuck is?!

lol

This is why I can't stop reading TLS. Seriously? Flame!

[IAFG]

ITT jdubb990 reconsiders retirement & law school plans

[jdubb990]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

[ResolutePear]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Good luck on the bar

[Kabuo]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Like taxes?

[JazzOne]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Can we get back to talking about what we so please to do with our money? Wait, what?

[jdubb990]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Can we get back to talking about what we so please to do with our money? Wait, what?

I like making money with money.

[Aqualibrium]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Good luck on the bar

Forget the bar, lol, good luck on 1L exams. JDubb doesn't seem to have a firm grasp on basic logic and reasoning.

[JazzOne]

LOL yes, I am a law student, I'm a 1L and should be studying for finals right now. I just feel like there's probably an attorney who could somehow argue the situation I mentioned above was not insider trading and get out. It seems like a lot of people would just inform their friends of stuff coming up and say "yeah, just slide me something on the side." I'm not saying I would do any of this stuff, I am just curious of the parameters of what is and what isn't. I mean, isn't there a point where some restrictions could be stifling your freedom to do as you so please with your money?

Can we get back to talking about what we so please to do with our money? Wait, what?

I like making money with money.

I know a guy who spent the last two years in federal prison. He was an acquaintance of mine from high school who then went to Princeton and got his JD from a T25. He got caught up in some mortgage scandal, and he's getting out of prison this Christmas. Just be careful how you make money with your money. I think he owes $1M in restitution on top of the prison term, so yeah, that sucks.

[Aqualibrium]

OMG, just realized Jdubb is the "I hate my school" guy from John Marshall that called all his classmates idiots!

http://www.top-law-schools.com/forums/v ... 3&t=137090

[jdubb990]

Umm no, I understand basic logic, I just know there are loopholes to everything and that many things can be argued either way. What you say is insider trading somebody else could argue was intuition, expertise in econ., investor saviness, etc. Maybe you should be worried about law school exams, most things are not black and white. And I never said where I went to school, somebody tried to infer that from a string of posts.

[clintonius]

This:

So is it insider trading if an attorney who is in-house counsel at the fortune 500 company he is working for buys up stock when he knows that in 2 days he and the board members will be signing a deal on a merger that is going to make their stock skyrocket?

is black and white.

[Aqualibrium]

Umm no, I understand basic logic, I just know there are loopholes to everything and that many things can be argued either way. What you say is insider trading somebody else could argue was intuition, expertise in econ., investor saviness, etc. Maybe you should be worried about law school exams, most things are not black and white.

Jdubb, earlier in this very thread you couldn't grasp the concept that billing 400/hr does not mean you make 400/hr. When this was pointed out to you, you attempted to qualify your statement in terms of cost of living, which has absolutely nothing to do with the fact that billing 400/hr is not equal to making 400/hr.

Go study, good luck on your exams. (You'll need it)

[gwuorbust]

This:

So is it insider trading if an attorney who is in-house counsel at the fortune 500 company he is working for buys up stock when he knows that in 2 days he and the board members will be signing a deal on a merger that is going to make their stock skyrocket?

is black and white.

it might as well be the definition of insider trading and is despicable conduct.

[nealric]

Herb Wachtell from page 1 is not a great example since WLRK purposefully structures compensation so that younger partners make more than older partners.

Herb Wachtell and Marty lipton some of the highest paid biglaw partners in America. You aren't going to find Jones Day partners making $5 million. New partners do not make more than Herb Wachtell.

[Aqualibrium]

Umm no,I don't understand basic logic, I just know there are loopholes to everything and that many things can be argued either way. What you say is insider trading somebody else could argue was intuition, expertise in econ., investor saviness, etc. Maybe you I should be worried about law school exams,most things are not black and white. And I never said where I went to school, somebody tried to I wasn't clever enough to conceal it very well, and someone infered that from a string of posts.

Fixed.

[jdubb990]

Umm, I do understand that billing $400/hr. does not necessarily mean that you bring in $400/hr. I never explicitly said that those were my thoughts, you are inferring conclusions from my posts that simply do not reflect what I know or believe. I said that billing $400 an hour multiplied by the amount of hours I have studied recently would allow me the ability to purchase a new car. I also attempted to differentiate how a seemingly low paying salary in one region of the country can actually be more profitable than a higher paying salary in another part of the country where the cost of living is higher. I've been studying since 7 a.m. this morning, I'm tired of it, my exams aren't for another two weeks, so I'm "TLS'N it"(yes, I just coined that). (Though I am doing CALI lessons intermittently as well. )

[AmicusCuriae]

Herb Wachtell from page 1 is not a great example since WLRK purposefully structures compensation so that younger partners make more than older partners.

Herb Wachtell and Marty lipton some of the highest paid biglaw partners in America. You aren't going to find Jones Day partners making $5 million. New partners do not make more than Herb Wachtell.

There are a number of biglaw partners, specifically the big rainmakers, bringing in $10mil. There are also biglaw partners making $300k.

[ResolutePear]

Can somebody kill this fucking thread. It's more fail than mudkipz.

[Cavalier]

So is it insider trading if an attorney who is in-house counsel at the fortune 500 company he is working for buys up stock when he knows that in 2 days he and the board members will be signing a deal on a merger that is going to make their stock skyrocket?

One of the funnier posts I've seen in a while.

[vamedic03]

Umm no, I understand basic logic, I just know there are loopholes to everything and that many things can be argued either way. What you say is insider trading somebody else could argue was intuition, expertise in econ., investor saviness, etc. Maybe you should be worried about law school exams, most things are not black and white. And I never said where I went to school, somebody tried to infer that from a string of posts.

Actually, you are mischaracterizing your prior post. You asked: is X activity illegal? Here, you're saying that there are A, B, and C as potential defenses to X activity.

But, what you asked before was the equivalent of asking: suppose you're a litigator on the eve of trial, if you could suborn perjury to win the trial, would that be illegal?

The answer to both is, yes they are illegal - there is absolutely no gray area. However, there are probably defenses available.

[predent/prelaw]

.

[Placrates]

Interesting thread here. There are a remarkable number of similarities between this thread and those I see on banking forums yet the way you guys argue with each other is quite different. I guess its the 4 years of law school

Now as someone who has spent a few years on Wall Street and is considering a move to law, it is startling the differences I can spot. For comparison, the fresh college grad who works for me will make 150k or so before taxes while a 2nd and 3rd year out of college will make anywhere from 150-250k / year. While the work they're doing is infinitely less impactful I'm sure than any of the lawyers I deal with (although some are truly duds as well), really makes me question my decision to pursue law.

If you guys are all here debating pay, why not go be a lawyer at an IBank or Corporate? In-house counsel at investment banks get paid quite well ....

[ResolutePear]

Interesting thread here. There are a remarkable number of similarities between this thread and those I see on banking forums yet the way you guys argue with each other is quite different. I guess its the 4 years of law school

Now as someone who has spent a few years on Wall Street and is considering a move to law, it is startling the differences I can spot. For comparison, the fresh college grad who works for me will make 150k or so before taxes while a 2nd and 3rd year out of college will make anywhere from 150-250k / year. While the work they're doing is infinitely less impactful I'm sure than any of the lawyers I deal with (although some are truly duds as well), really makes me question my decision to pursue law.

If you guys are all here debating pay, why not go be a lawyer at an IBank or Corporate? In-house counsel at investment banks get paid quite well ....

You don't belong here.

[Yeshia90]

Interesting thread here. There are a remarkable number of similarities between this thread and those I see on banking forums yet the way you guys argue with each other is quite different. I guess its the 4 years of law school

Now as someone who has spent a few years on Wall Street and is considering a move to law, it is startling the differences I can spot. For comparison, the fresh college grad who works for me will make 150k or so before taxes while a 2nd and 3rd year out of college will make anywhere from 150-250k / year. While the work they're doing is infinitely less impactful I'm sure than any of the lawyers I deal with (although some are truly duds as well), really makes me question my decision to pursue law.

If you guys are all here debating pay, why not go be a lawyer at an IBank or Corporate? In-house counsel at investment banks get paid quite well ....

You don't belong here.

He could be PT?