Media Monitor
September 11, 2015
A digest of the week’s news of note:
From the most buzz-worthy and blogged-about, to the leading business, innovation and legal industry headlines.

Legal Education/Careers


  • Legal Sector Sheds 2,000 Jobs in August: Preliminary data released Friday by the U.S. Department of Labor’s Bureau of Labor Statistics shows that the legal sector lost 2,000 jobs in August, while the overall U.S. economy made modest gains. (AL, 9.4)


Corporate Counsel



  • Corporate Counsel Gives First-Ever Lifetime Achievement Award to Ben Heineman: Corporate Counsel announces their first-annual Lifetime Achievement Award, celebrating the life and career of Ben Heineman Jr., who was General Electric Co.’s senior vice president-general counsel from 1987 to 2003, and SVP for law and public affairs from 2004 until his retirement at the end of 2005. (CC, 9.9)










  • Baker & Hostetler Votes to Nix Nonequity Partner Tier: With a unanimous vote, the 930-lawyer firm joined a small group of law firms that have abandoned two strict partnership tiers in favor of tying all partner compensation at least partly to firmwide profits. (Al, 9.11)









  • New Wave Firm Valorem Snags FMC ex-GC Jeff Carr: Valorem Law Group, which touts itself as a new model litigation firm comprised of "big law refugees" and boasting alternative fee arrangements, has poached Jeffrey Carr, former general counsel of Fortune 500 company FMC Technologies Inc. (CC, 9.9)





  • Flybe GC packs bags for LawBite: Flybe’s general counsel and company secretary Annelie Carver has left the low-cost airline for legal service provider LawBite. (TL, 9.9)



  • Axiom Unveils New Concierge Desk for Contracts: Axiom Legal Inc. on Wednesday announced Accelerator, a new product it is describing as contracts-as-a-service because it blends technology that can create simple contracts with a concierge desk in Ireland staffed by attorneys, paralegals and contract negotiators. (Bloomberg, 9.10)


  • New Platform Brings Big Data to Legal with Self-Service Contracting: The new Axiom Accelerator has been launched to provide a platform for businesses so they can more efficiently and thoroughly execute basic contracts and agreements. A business service that supports end-to-end contracting, Accelerator manages the process through the full contract lifecycle. (LT, 9.9)


Law Firms/Lawyers/Corp Counsel

  • Dewey & LeBoeuf Trial Wrapping Up: Defense lawyers for former Dewey & LeBoeuf executives made their final pitches this week at their fraud trial, saying they didn’t falsely inflate the now-defunct law firm’s revenue. (WSJ, 9.10)


  • Dewey Cooperators Can’t Be Trusted, Defense Says: A defense lawyer for Dewey & LeBoeuf’s former chief financial officer told jurors they shouldn’t trust the testimony of cooperating witnesses that has formed the basis of a financial fraud case against leaders of the fallen law firm. (WSJ, 9.10)


  • Law Firms Lure Business With Posh Amenities: Some big law firms say their office space makes a big difference in the race to retain clients and attract new ones, so they are splurging on amenities like conference rooms, bars and event halls. (WSJ, 9.5)




  • Sears GC Defends Company’s Shake-Up: In a recent interview with Big Law Business, Sears GC Kristin Coleman, who’s been at the helm of the legal department since July of last year, talked about the shareholder suit, the future of Sears, and the need for lawyers to learn customer service. (Bloomberg, 9.11)


Wall Street/PE/SEC



  • EU Approves GE’s Acquisition of Alstom’s Energy Business: General Electric won approval from Europe’s top antitrust authority for its acquisition of Alstom’s power business after the U.S. industrial giant agreed to sell assets that regulators hope will create a strong, new competitor in Europe. (WSJ, 9.8)


Employment Law


  • Feds Could Change OT Pay Rules for Attorneys: Dozens of contract attorneys voiced concerns about the health of their profession in letters and comments sent to the U.S. Department of Labor during the past two months as the federal agency weighs a change to overtime pay rules. (Bloomberg, 9.8)


Additional Legal News

  • Corporate Prosecution Deals Headed for a Legal Test: A U.S. federal appeals court is set to decide whether judges can tear up corporate prosecution agreements they deem too lenient, in a case that Justice Department officials fear will disrupt the agency’s deals with companies under criminal investigation. (WSJ, 9.8)