Short List: The WaPo profiles Judge Sonia Sotomayor of the U.S. Court of Appeals for the 2nd Circuit, widely thought to be on President Obama's short list to replace retiring Supreme Court Justice David Souter. Supporters say her mix of legal and real world experience makes her the perfect fit for what Obama has said he is looking for in the next justice.
Payout: Yet another firm has pushed back start dates for first-year associates, reports The American Lawyer. Stroock & Stroock & Lavan officially announced plans to put off start dates, but it will also offer incoming associates the option to take a $75,000 payout in exchange for not joining the firm at all.
Watada: The Justice Department has dropped its appeal of a federal court's ruling that 1st Lt. Ehren Watada cannot face a second court-martial for refusing to deploy to Iraq, reports the Seattle Times. Watada made headlines for denouncing the Bush administration and defying orders to deploy in 2006. However, according to the Seattle Times, his legal battle may not be totally over.
Out $6 Billion: General Motors reported this morning that it lost $6 billion in the first quarter of the year, according to the NYT. The news marks the eighth consecutive loss for GM, which faces a June 1 deadline to cut expenses or else file for bankruptcy protection. The $6 billion loss is equivalent to $9.78 per share.
Bankruptcy Blunder?: The WSJ Law Blog examines a study released Wednesday by UCLA Law professors claiming that judges routinely allow illegal fee practices in public-company bankruptcies. In other words, bankruptcy lawyers can thank judges for their fat paychecks, say the professors.