Morning Docket: 07.31.08
* Will work for laid-off Cadwalader attorneys be hard to find? [Am Law Daily]
* Legislation allowing FDA to regulate tobacco moves through House, heading towards veto. [Washington Post]
* Turkish court allows president and PM to remain in politics. [CNN]
* Former Thai PM’s wife found guilty of tax evasion, sentenced to three years. [New York Times]
* More litigation for Ed McMahon, this time $275K claimed by former counsel. [CNN]
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Comments
"Of the 33 attorneys Cadwalader laid off earlier this year, ten have not found new positions."
Sucks for these guys, since they're going to have to contend with 96 new resumes very shortly.
Well if you were at Cadwalader in the first place odds are your services weren't too 'in demand' in the first place so this seems about right to me.
Perhaps this is what CWT doesn't fully appreciate:
http://law.com/jsp/article.jsp?id=1202423404457
Even in the face of a bad economy, firms are wary of engaging in layoffs. The New York managing partner said the layoffs' damage to internal morale is often manageable but he said damage to law school recruiting is severe and long-lasting.
"Law students are impressionable," he said. "It takes a long time to recover your reputation on campus after that. We spend so much on recruiting it's just not worth it to add another $200,000 to our profits per partner, especially when our income levels are still so high."
2: I doubt it. There are plenty of CLS/UC/Harvard graduates at CWT, and I'm sure they do excellent work.
The AmLaw article says firms like A&P, MoFo, Hunton & Williams, and Katten are hiring these guys. Does this speak well of their financial situation?
3: No, they appreciate it. That argument is weakened considerably when numerous firms engage in lay-offs: it becomes socially accepted and, therefore, limits the bad PR.
6: Please list the numerous firms engaging in mass layoffs in the neighborhood of CWT's canning of 131 attorneys in a sixth month period. Tks.
That's my point. They might be the bellwether.
How is it possible that I have never heard of Hunton & Williams and yet they appear to be a Vault firm with over 1000 attorneys.
Hunton & Williams is primarily a Southern law firm. If you like speaking Redneck and having bourbon splashed BBQ, that's your place.
11:02 - you live under a rock, possibly?