Arthur Culvahouse, chairman of O’Melveny & Myers, was in charge of vetting Sarah Palin and has been taking some heat.

But Culvahouse has more to worry about than the National Enquirer. Culvahouse is locked in a high-stakes political battle to keep his chairmanship at O’Melveny. O’Melveny’s policy committee, which recommends the chairperson subject to ratification by the full partnership, failed to select a clear winner over the past few weeks.

So now the sharks are circling….

Here’s a report from The Recorder:

[O]ther candidates are former San Francisco Managing Partner Darin Snyder; Los Angeles partner Robert Siegel, the chairman of the adversarial department; Newport Beach, Calif., partner Gary Singer, a co-chairman of the firm’s transactions department; and Washington, D.C., partner John Beisner, chairman of the class actions, mass torts and aggregated litigation practice.

Culvahouse has been the chairman since 2000. His current battle for re-election (which was thought to be a lock) probably has less to do with his prominent role in the McCain campaign, and more to do with the traditional metrics of cash money:

Between 2005 and 2007, O’Melveny’s profit per equity partner increased from $1.5 million to $1.6 million. Gibson, Dunn & Crutcher saw an increase from $1.6 million to $1.9 million. Paul, Hastings, Janofsky & Walker’s profits jumped to $1.9 million from $1.2 million, while Latham’s soared from $1.4 million to $2.3 million.

Slow growth knows no party.

Are there OMM associates with an opinion on Culvahouse’s stewardship? This might be the time to weigh in.

O’Melveny Closes In on Chairmanship Election Results [Law.com]