June 11, 2014
ABA Section on Legal Education recommends changes...
June 10, 2014
U of Minnesota provides $2 million to offset law school's deficit
Story here. If a major state law school, perenially top 20ish, is in this situation, I would imagine many other law schools are as well.
June 06, 2014
UC Irvine Law School now fully accredited by the ABA
I was just forwarded the e-mail confirming that milestone. Not a surprise, of course, given all that's been accomplished in a remarkably short time, but this also means that UC Irvine will be subjected to U.S. News.com ranking next year. The lawyer/judge reputation survey results are very hard to predict; it will be interesting to see how the academic reputation survey comes out (UCI ought to get a top 20 score there, but we'll see if that happens).
May 15, 2014
Federal clerkship placement rankings by school, 2011-2013
May 09, 2014
Corporate Practice Commentator's Top 10 Articles of 2013
The Top 10 Corporate and Securities Articles of 2013
The Corporate Practice Commentator is pleased to announce the results of its twentieth annual poll to select the ten best corporate and securities articles. Teachers in corporate and securities law were asked to select the best corporate and securities articles from a list of articles published and indexed in legal journals during 2013. More than 550 articles were on this year’s list. Because of the vagaries of publication, indexing, and mailing, some articles published in 2013 have a 2012 date, and not all articles containing a 2013 date were published and indexed in time to be included in this year’s list.
The articles, listed in alphabetical order of the initial author, are:
Armour, John, Bernard Black and Brian Cheffins. Is Delaware losing its cases? 9 J. Empirical Legal Stud. 605-656 (2012).
Bebchuk, Lucian A. The myth that insulating boards serves long-term value. 113 Colum. L. Rev. 1637-1694 (2013).
Bratton, William W. and Michael L. Wachter. A theory of preferred stock. 161 U. Pa. L. Rev. 1815-1906 (2013).
Choi, Stephen, Jill Fisch, and Marcel Kahan. Who calls the shots? How mutual funds vote on director elections. 3 Harv. Bus. L. Rev. 35-82 (2013).
Coates, John C. IV. Corporate politics, governance, and value before and after Citizens United. 9 J. Empirical Legal Stud. 657-696 (2012).
Gilson, Ronald J. and Jeffrey N. Gordon. The agency costs of agency capitalism: Activist investors and the revaluation of governance rights. 113 Colum. L. Rev. 863-927 (2013).
Grundfest, Joseph A. and Kristen A. Savelle. The brouhaha over intra-corporate forum selection provisions: A legal, economic, and political analysis. 68 Bus. Law. 325-410 (2013).
Klausner, Michael. Fact and fiction in corporate law and governance. 65 Stan. L. Rev. 1325-1370 (2013).
Langevoort, Donald C. and Robert B. Thompson. "Publicness" in contemporary securities regulation after the JOBS Act. 101 Geo. L.J. 337-386 (2013).
Rock, Edward B. Adapting to the new shareholder-centric reality. 161 U. Pa. L. Rev. 1907-1988 (2013).
By institutional affiliation, the schools with the most authors represented are: Penn (4), Harvard (2), NYU (2), Columbia (2), Stanford (2), Georgetown (2).
May 01, 2014
ATL's approach to ranking law schools: decide what the result should be, then adjust the criteria accordingly
I wish I were making this up, but here it is:
“The top 15 or so are roughly the same schools as you would find in U.S. News and elsewhere,” explains Brian Dalton, research director for Above the Law. “Yale, Harvard and Stanford are the top three as they would be under any credible ranking scheme…"
Note that when U.S. News.com surveyed lawyers and judges last fall (with a 32% respones rate, an all-time high for these surveys), here were "the top three":
1. Harvard University (4.8)
1. Stanford University (4.8)
3. Columbia University (4.7)
3. University of Chicago (4.7)
3. Yale University (4.7)
But, heck, what do lawyers and judges know.
And here are the "top three" schools based on scholarly impact in the study by Greg Sisk (St. Thomas) and colleagues in 2012:
1. Yale University
2. Harvard University
3. University of Chicago
And the "top three" according to The National Law Journal based on big firm placement:
1. Columbia University
2. University of Chicago
3. New York University
And the "top three" in the business law areas:
1. Harvard University
2. Columbia University
3. New York University
But, of course, any "credible" ranking must replicate U.S. News.com....
If they really aren't about to go under, they surely deserve to if this is really their approach.
April 30, 2014
I don't get to agree with Justice Alito that often...
...but I can happily agree with this observation (from this profile):
The U.S. News and World Report rankings of law schools are an abomination. The legal profession and the country would be better off if they were eliminated. I gather that all these rankings are one of these things that keeps U.S. News and World Report in the black—unlike Newsweek.
(Thanks to Ronald Collins for the pointer.)
March 31, 2014
Top U.S. research universities, 2014
Here, based on aggregation of U.S. News reputational data, for those who are interested.
March 20, 2014
Falsehood of the day: "U.S. News, for all of its faults, is how employers think of you"
Elie Mystal, one of the bloggers at "Above the Law," wrote this last week (a reader forwarded it to me). No evidence was offered, and that's not surprising: the statement is false in almost all cases. Employers, to be sure, have views about different law schools, but they are based on experience, in some cases, experience that stretches over decades. Actual lawyers and judges do not, in my experience, pay any attention to U.S. News at all. A couple of years ago, for example, I was speaking to a distinguished group of Northwestern University Law School alumni about the U.S. News rankings. There were about 125 to 150 lawyers (and a few judges) there. Many of the lawyers in attendance had been or were the current hiring partners at their firms. I asked a simple question: how many had looked at the recent U.S. news rankings of law schools? Maybe five hands went up in the entire room. To a person, all these lawyers and judges said they based their evaluations of law schools--where they recruit, how deep into the class they will go for new hires--on their past experience with the schools and their graduates. Full stop. No one was waiting for the U.S. News law school rankings to decide where to interview or whom to hire.
So if lawyers and judges don't care about them, who does care about the U.S. News rankings? Prospective students and journalists. Prospective students are very clearly influenced by them, in part because journalists hype them and report on them irresponsibily. And because of those two constituencies, law schools have to care as well: if, in fact, the students a school wants will go elsewhere because of a precipitous drop in the US News ranking, this will over a period of time affect how the employers that hire frm that school perceive it, not because they follow U.S. News, but because they will notice the change in the caliber of the student body.
March 12, 2014
Why can't law schools just ignore US News.com rankings?
Because of idiotic pieces like this that treat changes in the overall rank as meaningful.