It’s Like We Don’t Even Know Who Goldman Sachs Is Anymore

More Law Firms Should Use Honesty Boxes To Solicit Feedback From Employees

Before starting my own practice around a year ago, I worked at a number of law firms. Partners at each of those shops told associates that they were amenable to feedback, and many related that they had an open-door policy if employees ever wanted to raise concerns or make suggestions. Of course, associates were usually nervous to provide feedback, and few people took advantage of open-door policies. Partners and pretty much everyone else often have a hard time accepting constructive criticism, and associates usually just kept their mouths shut rather than offer suggestions.

However, a few years ago, I was having dinner with a bunch of a attorneys after a deposition, and some of my colleagues told me about a unique initiative that was started at one firm to solicit feedback. Several of the attorneys at the dinner worked at a firm in my area that was infamous for having high turnover and low morale among associates. During the course of the dinner, many of the lawyers who had worked at this firm spent a substantial amount of time discussing well-known gripes about their former employer, many of which I had heard before.

However, my ears pricked up when a former attorney at this firm told me about a program that had been instituted while he worked there. The human resources person at the firm had set up an honesty box so that associates and other employees could give feedback to firm management anonymously. I immediately thought of an old Facebook app of the same name that people used in college to leave anonymous comments for their Facebook friends, which I always thought was a cool idea. I think the system set up by this firm was also internet-based, and firm management purportedly had no way of knowing who made the comments. I guess this idea was inspired by suggestion boxes that people might see at retail establishments, or that was at the center of an episode of The Office.

From speaking to associates who worked at this firm, it seems that reactions to the honestly box were mixed. Many of the attorneys at this firm did not think that the honestly box was truly anonymous, so a number of people did not even bother to submit feedback. Since there was so much turnover at the firm, many associates also did not care enough to submit suggestions that could improve it.

However, some people expressed gratitude that an honesty box program had been implemented. One attorney mentioned that the honesty box boosted morale around the office, since it showed that management cared about improving conditions at that firm. In addition, one associate told me he suggested that the firm implement a new employee benefits program, and soon thereafter, the firm decided to adopt that initiative. Judging from the comments of my colleagues, it was hard to tell if the honesty box provided substantial benefits, but the idea of this program intrigued me.

During the attorney review process at the firm at which I worked at the time, I decided to bring up the idea of an honesty box. There were many issues associates wanted partners to address, but most attorneys were afraid to make suggestions to management. Although partners professed to have an open-door policy, associates who made suggestions at meetings or in private were usually criticized and talked down to. One time, associates were even too afraid to tell management that the IRS had upped the mileage reimbursement amount! Because of the environment, no one wanted to make suggestions to management without anonymity.

My only suggestion to the firm when I was asked for feedback was that our shop should institute an honesty box program like the other firm had done. Predictably, firm management never took the proposal seriously. The partner I discussed the matter with told me that partners and associates had a good relationship at the firm, and doors were always open for feedback and comments. In addition, the partner thought that conditions were pretty good at the firm and that there would be no need for an honesty box to facilitate better feedback.

However, it is human nature to dislike people for making suggestions, and so long as associates feel they may face negative consequences from providing feedback, they will refuse to do so. In addition, even if associates did decide to use a firm’s open-door policy, it was rare that partners could have a long, substantive talk, since people are busy and it is hard to devote bandwidth to suggestions. An honesty box solves those issues, and the firm at which I worked could have greatly benefited from the idea.

Of course, honestly boxes are kind of a nontraditional proposal to consider, and firms definitely need to think outside the box (get it?) if they want to establish and promote an honesty box program. However, partners can realize a number of benefits from having an honesty box, since associates will be more likely to provide frank and helpful comments if they are able to convey feedback anonymously.


Jordan Rothman is a partner of The Rothman Law Firm, a full-service New York and New Jersey law firm. He is also the founder of Student Debt Diaries, a website discussing how he paid off his student loans. You can reach Jordan through email at jordan@rothmanlawyer.com.

Zimbabwe banks set to shed more jobs in 2020 due to digitalisation – The Zimbabwean

8.1.2020 15:00

Harare — After shedding 8% of their workforce last year, Zimbabwean banks may cut more jobs in 2020 as the economy shrivels and the sector increasingly shifts away from cash and towards digital services.

A woman shows Zimbabwe’s new banknotes in Harare, Zimbabwe, November 12 2019. Picture: REUTERS/PHILIMON BULAWAYO

“The banking industry, just like the rest of the economy, will suffer negative growth this year, which could result in even more job cuts,” said Sijabuliso Biyam, CEO of the Bankers Association of Zimbabwe. “The sector is now driven by technology. If the economy was doing well, those people who have been made redundant could have been redeployed elsewhere, but sadly that is not the case.”

At least 300 of the 4,000 employees in the industry lost their jobs last year, according to the Zimbabwe Banks and Allied Workers Union, more than five times higher than those dismissed in 2018.

An economy that probably shrank 6.5% in 2019, an inflation rate of more than 440%, and a cash crisis that has seen foreign currency evaporate from the country is forcing banks to provide digital services.

“The year 2019, was not a good year for workers in the banking sector,” said Shepherd Ngandu, assistant secretary-general at the union. “The workers lost their jobs due to digitalisation and changing work methods.”

Standard Chartered’s local unit, First Capital Bank, CBZ Holdings  and BancABC Zimbabwe were among lenders that cut jobs, he said, adding that an unidentified money transfer agency fired 45 workers, while voluntary redundancies also took place at Old Mutual.

Post published in: Business

Zimbabwe’s economy could shrink by 13% in 2020 – The Zimbabwean

Zimbabwe’s economy is likely to shrink by 13% in 2020, the Economist Intelligence Unit (EIU) has predicted, as the southern African country faces a third consecutive year of drought.

Agriculture is the backbone of Zimbabwe’s economy but poor rains in the past two years, as well as forecasts of another drought in 2020, have left the country with little hope of economic revival this year.

The prediction will further compound Zimbabwe’s woes. The country is facing severe cash, fuel, medicine and power shortages.

The UK-based EIU, which analyses financial markets and country risk profiles, said Zimbabwe will be among its worst performers in 2020. The southern African state will be second last and Venezuela, whose economy is expected to contract by 20, 5%, at the bottom.

Last week, the World Food Programme (WFP) listed Zimbabwe among the countries in Sub-Saharan Africa that will dominate global hunger hotspots in the first half of 2020.

As a result of 2019’s drought Zimbabwe’s cash-strapped government will spend more money importing food this year, piling greater misery on its battered  economy.

The WFP listed Zimbabwe among the 15 global hotspots that face hunger in 2020, while the country has also been grouped among three other crisis-ridden nations in Sub-Saharan Africa.

“Escalating hunger needs in Sub-Saharan Africa dominate a World Food Programme analysis of global hunger hotspots in the first half of 2020 with millions of people requiring life-saving food assistance in Zimbabwe, South Sudan, the Democratic Republic of Congo and the Central Sahel region in the coming months,” WFP executive director David Beasley said last week.

Beasley said the effects of Zimbabwe’s drought will be exacerbated by the ailing economy, which faced its worst meltdown in a decade last year.

“The WFP report notes that amid an imploding economy, the situation in Zimbabwe is increasingly precarious as the country enters the peak of its ‘lean season’ when food is at its most scarce and the number of hungry people has reached its highest point in a decade. The WFP is planning assistance for more than 4-million people in Zimbabwe as concerns grow that the impact of a regional drought could drag yet more countries down in the first months of the year,” he said.

Zimbabwe park rangers drown after being overpowered by poachers on boat – The Zimbabwean

Tinashe Farawo

The bodies of the two rangers were taken to the capital, Harare, for examinations, said Tinashe Farawo, spokesman for the Zimbabwe National Parks and Wildlife Management Authority on Tuesday.

In an earlier tweet, Farawo said one of the park rangers “had multiple stab wounds and had hands tied behind the back.”

The two rangers had arrested four Zambian men for poaching and on Dec. 31 were transporting them by boat to Kariba town to be charged and jailed. But the four suspects overpowered the rangers and threw them into Lake Kariba, said Farawo. The rangers’ bodies were discovered after a week-long search.

Authorities are searching for the suspected poachers, he said.

The rangers had caught the poachers in Matusadona National Park, home to lions, leopards, elephants and hyena on the shores of Lake Kariba, one of the world’s largest man-made lakes. The park is popular with tourists who go on walking safaris and boating on the lake.

The rangers had detained the poachers overnight before attempting to take them by boat to Kariba town.

Although the parks agency has recorded “a significant decrease” in poaching in the wildlife rich southern African country, cases of armed contact between poachers and rangers have been on the rise in the Kariba area, where Zimbabwe borders Zambia to the north, said Farawo. The two countries share the lake as well as the magnificent Victoria Falls along the Zambezi River.

Post published in: Featured

Public Interest Organizations Must Use Their Surge In Donations To Pay Their Lawyers A Living Wage

(Image via Getty)

It’s no secret that public interest attorneys make less than their private sector counterparts. According to a NALP press release, median pay in 2018 ranged from $48,000 for a new lawyer to $69,400 for a lawyer with 11 to 15 years of experience. In 2004, the median was $34,000 for a new lawyer and $51,900 for an experienced one.

In exchange for the lower pay, they get a better quality of life and the feeling of knowing that they are having a positive effect in their communities. Also, their federal student loans get favorable treatment. They qualify for Public Service Loan Forgiveness (PSLF), which means that only a small portion of their monthly income must be used to pay back their student loans for 10 years. If their law school has an LRAP program, they will usually pay that monthly PSLF amount for them. Afterward, the remaining balance is forgiven with no cancellation of debt income for tax purposes.

Even with these benefits, their salary is usually not enough to cover basic living expenses, particularly in major cities where housing costs are astronomical. Many of those lawyers have to work second jobs to make ends meet. They typically turn to flexible gig-economy jobs, such as being Uber drivers.

Public interest lawyer salaries are low because money is tight. Most public service organizations primarily rely on public donations to fund their operations. Unfortunately, not many people donate to legal aid organizations mainly because there are countless other charitable organizations and causes to choose from, and people tend to donate to the organizations they are closest to. So the people who donate to legal aid organizations are typically the same people year after year. And public donations are susceptible to the current economy. If the economy is bad, the donations dry up as well.

Since the election of President Trump, there has been a surge in donations to civil rights and humanitarian organizations. The ACLU received $120 million in online donations, up from $3 million to $5 million in previous years. The ACLU has stated that the extra funds will be used to hire more staff, primarily lawyers. Other organizations deemed to be hostile to the Trump administration and Trump’s policies have also seen an increase in funding, such as Planned Parenthood, the Anti-Defamation League, and the National Immigration Law Center.

Many of these organizations are capitalizing on the angry, energized liberal voter base by promising to fight Trump with the help of their donations.

But have these organizations been sharing their newfound wealth with those who need it most? I looked at some of the organizations’ annual financial statements using Guidestar.org. Many organizations that have received increased funding have indeed used that money to increase salaries. But they do not show whether the money was used to hire attorneys. Nor could I determine the average staff attorney salary.

What I am seeing is that in 2018, public interest attorneys are paid $48,000 for a new lawyer up to $69,400 for a lawyer with 11 to 15 years of experience.

I will leave it to others with more investigatory resources to see if these nonprofit organizations are either paying their legal staff a living wage or trying to get away with paying as little as possible. But here’s my humble suggestion: If a public interest organization is getting a surge in donations from people who want to resist President Trump’s policies in the courts, use that money to pay your staff attorneys a living wage.

A wage that will allow attorneys to live in a safe neighborhood. A wage that will not force them to be a Lyft driver on Saturday night picking up drunk, rich kids in Midtown or Beverly Hills. A wage that will not tempt your current staff to look for better paying jobs after a few years. A wage that will allow them to pay down a fair amount of their student loans so taxpayers won’t pay the remaining balance and 10 years of unpaid, accrued interest when their loans are eventually forgiven.

Working as a public interest lawyer is a labor of love and commitment. But that commitment can be cloudy when they are not getting enough sleep because they are moonlighting to pay for food and rent. If a public interest organization dedicated to fighting President Trump’s policies is not using its newfound wealth to pay their lawyers a competitive wage, they are doing a grave disservice to their donor base.


Steven Chung is a tax attorney in Los Angeles, California. He helps people with basic tax planning and resolve tax disputes. He is also sympathetic to people with large student loans. He can be reached via email at sachimalbe@excite.com. Or you can connect with him on Twitter (@stevenchung) and connect with him on LinkedIn.

Gaming Billionaire Gambles On Stiffing His Lawyers… Loses

Kazuo Okada made billions in gambling, as the tech geek who figured out how to make slot machines register a “near miss” to prompt the weak willing to shovel another quarter into the maw of avarice. Before it was all said and done, Okada’s slot machine company owned roughly 20 percent of Wynn Resorts and had its own independent casino in Manila. But his latest gamble — not paying his $50 million legal fees — didn’t pay off.

Bartlit Beck negotiated a fee deal with Okada back in 2017 when he locked horns with Wynn over the value of his stake in the resort empire. Wynn ousted Okada, claiming the Japanese businessman “likely violated the Foreign Corrupt Practices Act” and gave him a $1.94 billion 10-year note for his troubles. But Okada’s stake was worth $2.7 billion now so he sought out the power litigation firm to get him his money. Which they — specifically Phil Beck, Chris Lind, Hamilton Hill, and Brian Swanson — did to the tune of a settlement for $2.632 billion in 2018.

With a couple of billion coming in, you’d think Okada would have no problem paying his attorneys a relatively piddling $50 million, but you’d be wrong! The date for payment came and went with Bartlit Beck seeing nothing. Bartlit Beck decided to call Okada’s bluff.

Chris Lind from the underlying case, along with Bartlit Beck’s Adam Hoeflich, and Sean Berkowitz from Latham & Watkins, all went to arbitration — a condition of the fee agreement — to get the firm paid. Along the way, Okada called the fee “unconscionable,” a ballsy for a fee amounting to less than 2 percent of the recovery. I guess if your billion-dollar fortune is built on quarters it can skew your perspective. The arbitrators, on the other hand, suffered no myopia and awarded Bartlit Beck its full fee plus interest. It didn’t hurt that Okada refused to participate in the hearing, pulling out at the last minute.

Unfortunately, winning an award is only the first step. The firm filed the arbitration award with the courts to get it enforced. Hopefully, Okada has assets easier to tag than some clients. Personally, I once had to order Texas Rangers to seize a Boeing 707 to get someone to pay up. Arranging for hangar space isn’t exactly a skill they teach in law school.

Why do clients think it’s acceptable to stiff attorneys? The greedy lawyer stereotype makes for some good jokes, but while tragic abuses can target the most vulnerable, among the elite ranks of the profession the fees are pretty reasonable. Paying $50 million to recover over $800 million extra is hardly unconscionable. Trafficking in “money-grubbing lawyer” tropes while sitting on billions is much more unconscionable.

And it’s also dumb. If you’re betting on powerhouse litigators to walk away from their fees without a fight, then you’re making the losing bet.


HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

Morning Docket: 01.08.20

(Photo by Mark Wilson/Getty Images)

* A donor connected to President Trump’s inaugural committee has plead guilty to obstruction of justice. [Fox News]

* A Long Island lawyer has been charged with stealing 300k from a former client. That’s not even a lot of money for “Strong” Island. [Newsday]

* The San Francisco City Attorney has ordered that a rebel e-scooter company cease and desist operations. What a buzzkill. [San Francisco Chronicle]

* CNN has settled a lawsuit with Covington Catholic student Nicholas Sandmann. [Yahoo News]

* New York’s high court may soon decide if a defamation lawsuit filed by an Apprentice star can proceed. [Reuters]


Jordan Rothman is a partner of The Rothman Law Firm, a full-service New York and New Jersey law firm. He is also the founder of Student Debt Diaries, a website discussing how he paid off his student loans. You can reach Jordan through email at jordan@rothmanlawyer.com.

Skadden Partner Laterals Rather Than Face Mandatory Retirement

Jim Schell

There was a desire on my part to continue a very active practice and do so unencumbered by institutional requirements that ran contrary to that. When you add in the respect and affection I have for people here [at Mayer Brown] from prior experiences, it was a relatively easy decision.

—Jim Schell, now a partner at Mayer Brown, told Law.com that part of the reason he lateraled from Skadden — a firm he practiced at for over 30 years — was a desire to practice after 70, Skadden’s mandatory retirement age. He also said that at Mayer Brown, “I wouldn’t have to worry about a ‘time for you to go’ business model. I want to be active, I have been active, and this was an ideal home for me to continue to do that.”


headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).