Brokeback Lawfirm: The Sequel?
Earlier this month, it was reported that Heath Ledger is in talks to appear in a sequel to Brokeback Mountain. From Defamer:
Who could ever forget the final scene of Ang Lee's tragic Brokeback Mountain, in which Heath Ledger's Ennis Del Mar clutches a shirt belonging to the gay-sheepboy love of his life, as if touching him for the very last time? As shattering as that moment was, however, something called for a coda -- perhaps just a brief shot of a smiling Ennis, finally at peace, serving daiquiris to vacationing tourists at the Key West bed n' breakfast he opened after Jack Twist's death.
We may not have to rely on our imaginations for that kind of closure, however, as OK! Magazine reports that a Brokeback sequel is on the way.
Is life imitating art? Aaron Charney and Sullivan & Cromwell have just settled the litigation between them. But a sequel to Brokeback Lawfirm may be in the works.
Remember Gera Grinberg -- the former S&C associate who worked closely with Aaron Charney, was rumored (incorrectly) to be Charney's gay lover, and left the firm under mysterious circumstances? A reliable source -- we use the source "reliable" intentionally, since all ATL sources should be presumed unreliable, unless otherwise indicated -- tells us a lawsuit by Grinberg against S&C is a distinct possibility.
This source informs us that Gera Grinberg has filed "numerous complaints with S&C," which have not yet been resolved. The former M&A associate hasn't heard back from them regarding the results of any investigation that they may -- or may not -- have undertaken. In terms of pursuing further action against the firm, Grinberg has ruled nothing out.
Very interesting. Stay tuned.
Finally, in happier news for S&C, the firm just announced the election of its new partners. The timing, in the same week as settlement of the Charney litigation, is fitting. The firm is turning a new page in its history.
Check out the memo, and see if you know any of these future (or maybe current) millionaires, after the jump.
SULLIVAN & CROMWELL -- MEMORANDUM RE: NEW PARTNERS
Carsten Berrar, Nicolas Bourtin, Robert Chu, Suhana S. Han, Tracy Richelle High and Benjamin C. Perry have been elected members of the Firm, effective January 1, 2008.
Earlier: Breaking: Sullivan & Cromwell Settles with Aaron Charney!!!
(30) Comments
I can't believe these two so thoroughly blew their biglaw opportunity. Talk about self destruction.
Congrats to Carsten Berrar, Nicolas Bourtin, Robert Chu, Suhana S. Han, Tracy Richelle High, and Benjamin C. Perry! Enjoy your pie!
Is it strange that all but one of the new S&C partners went to Harvard?
Too bad L2L!
Six new partners? Wow. Watch out kids, the flood gates are open.
"Is it strange that all but one of the new S&C partners went to Harvard?"
Mr. Perry went to College of Law. Maybe that's like the Loyola of England?
I have heard that a new partner at Sullivan makes about $1,000,000 per year, and that, net of holdbacks for benefits and required capital contributions, this works out to about $600K on a "salaray equivilant" basis. (or about 50% more than the most senior associates). Based on what I know about other top, equity-only firms, this seems about right. Can anyone confirm?
2:25 - That is very interesting. Does anyone have similar information for other firms?
There is no Brokeback Mountain sequel in the works. OK! Magazine was mistaken, look it up.
Check out this nifty chart: http://www.law.com/special/professionals/amlaw/amlaw200/amlaw200_ppp.html
The last column is profits per partner (PPP).
Mr. Perry went to Oxford. That ain't no Loyola. (He's also a great guy.)
wow. no u.s. corporate associates were elected to partner at S&C this year.
To: 2:27- Yes, I have it for one other firm, which I will not name. It is a Vault 15, equity-only, not NYC based. First-year partner makes about $700,000, which at that firm works out to about $450,000 "salary equivalant" when you net out holdbacks and capital contributions. A nice bump from being a senior associate, but it is not like winning the lottery. Note 1: the "salary equivalant" numbers do not take into consideration the fact that the capital contribution may be returned someday to the new partner if he/she sticks around long enough, so the bump is actually greater than the salary equivalant numbers suggest. Note 2: Once the capital account is fully funded with "catch-up contributions", and the partner only needs "annual contributions", (apprix. year 4-6), salary equivalant pay goes through the roof.
2:29, do you have a cite/link for that? All the sources I see report that a sequel is being planned.
2:25, 2:27, and 2:51 -- more evidence of why a thread with a variety of actual partner take-home figures would be incredibly valuable.
2:51, that is very interesting. Under what circumstances could a partner leave early and not receive a return of her capital contribution? I've only read one partnership agreement, that was attached as an exhibit to Charney's complaint, and it seemed to contemplate a return of capital upon departure.
With High, S&C now has its second African-American partner. Another African-American woman was up this yar but, according to the memo, didn't make it.
3 new corporate partners, none in NYC.
Amazing 4 out of the 6 new partners are minorities.
It's about time!
Chu, Han and High aren't white. Who else?
Berrar is hispanic
Robert Chu - is this a possible WGWAG sighting here?
No Jews. Anti-Semitism!
No one from Appalachia (exept Rog Cohen) -- anti-appalachanism!!!!
4:05 - Unlikely. He's based in the Beijing office.
OK, so S&C elevated some minorities to partner. Big deal. S&C still sucks ass (although it is decidedly NOT a left-wing firm as the shithead Fed Soc claimed earlier today, so even though I hate them I have to stick up for them in this regard, whih is kind of weird, but whatever...)
Yeah, They may have made partner. But did they get bonsai trees?
Went to law school with High. Not surprised at all. And much better looking than her pic I might add.
Suhana Han is a fantastic attorney and especially deserving of partnership. S&C got it right with this one.
S&C is a great firm, as confirmed by these excellent additions to its partnership.
the S&C athletic shirt reads: White shoes, straight laces.