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04/28/06 Diversity Council at Holland & Knight Holland & Knight LLP has formed a Diversity Council that will oversee diversity initiatives and programs in its 18 offices nationwide. Holland & Knight partner Paul Thomas, an experienced counselor on corporate diversity issues, has been named Chief Diversity Officer and will also serve as the Firm Diversity Partner, chairing the new council. The Diversity Council consists of 13 members, including Mr. Thomas. Its mission is to ensure that all firm activities continue to foster diversity in all offices. The inaugural council includes top partners from across the country. Under the direction of the new Diversity Council, Holland & Knight has also created "Affinity Initiatives" to better focus on the needs and interests of the African American, Asian/Pacific Islander, Hispanic and Native American communities. The new initiatives will add new depth to previously established efforts centering on women, GLBT and other groups. Lawyers Care Josh Kaplan, a 27-year-old graduate of Yale Law School and a second-year associate at Arnold & Porter, is asking fellow associates to give back a portion of their 2006 raises which range between $5,000 and $10,000. Recently, top law firms have increased associate pay, with first-year salaries often starting at $135,000. Kaplan is of the view that the salary increase was not merit-based but resulted from a domino effect. Law firms have grown, but the pool of law students from top-tier law schools has remained fairly constant. So if one firm increases associate salaries, others must all follow suit to compete for the best talent. Not wanting to define himself by the size of his paycheck, Josh wants to change the general perception of lawyers. He wants to convey to the world that the typical lawyer is not a greedy fat cat but a normal human being. To prove his point, he has started a campaign which will prove that law firm associates are charitable. The website givealittle2006 asks associates to give back a portion of their salary with the goal of raising $250,000. The featured organizations include Doctors Without Borders, American Red Cross, Care and the Clinton Foundation. Supreme Court favors Business Arbitration A major ruling of the U.S. Supreme Court has gone in favor of businesses wanting to settle disputes through arbitration, giving them power to do so. The ruling states that arbitration agreements are to be adhered to even when a contract's overall validity is in dispute. Arbitration, often faster and less expensive, is generally preferred by business houses, and the decision is a message to the judiciary not to tamper with the arbitration system. The ruling was handed down in a case involving Buckeye Check Cashing, an advance payday loan company. The company made a financial agreement with Cardegna, who agreed to the terms and conditions of the company and also signed a contract stipulating that "any claim, dispute, or controversy" would be settled "by binding arbitration pursuant to this Arbitration Provision." Later, however, Cardegna filed a class-action suit in a Florida state court, alleging that the rates of interest Buckeye charged on each loan were criminally usurious. As per the terms of the agreement, Buckeye looked for arbitration to settle the issue of the contract's legality. Cardegna did not agree, claiming that the arbitration clause did not apply, as the contract itself was void. The State Court and the Florida Supreme Court ruled against Buckeye, but the U.S. Supreme Court stated that issues concerning the validity of the contract must also go to an arbitrator. It is a victory for businesses, especially financial service companies who are often charged that their contracts are not valid. COOL THREAD OF THE DAY Firms to Avoid |
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