Pillsbury Continues To Poach Thelen Partners
I don’t believe everything I read on ATL’s comment boards, but often accurate information is posted by our readers. Monday, we told you that Pillsbury had acquired Thelen’s China practice group. One reader said:
Look for construction partners to start jumping ship by next week. You heard it here first.
The only thing wrong about that statement was the timing. Pillsbury released the following statement announcing additional new hires:
Michael Evan Jaffe and Ronan J. McHugh, two construction litigators from Thelen LLP, have joined Pillsbury’s Washington, DC office as partner and counsel respectively, advancing the firm’s ongoing expansion of its national litigation and international dispute practices.
In fact, Pillsbury seems quite proud about scavenging Thelen:
Jaffe and McHugh are the latest attorneys from Thelen to join Pillsbury’s litigation team. Earlier this week, it was announced that Shanghai litigation partner Meg Utterback, was joining the firm as part of Pillsbury’s acquisition of Thelen’s China practice.
How many cherries can Thelen lose before somebody chops them down for firewood?
Other (potentially prescient) commenters weigh in after the jump.
The future of Thelen seems to be tied to whether they can pull off a merger. We’ve reported that Thelen has been in talks with Nixon, but that was a long time ago. Many commenters have lost faith in the Nixon-as-white-knight scenario:
Nixon Thelen as a merger is off. Nixon may cherry-pick though. …Nixon is off unless they get past a major conflicts issues. Could be back on if conflicts are resolved. Thelen is resuming talks with two other unnamed firms, likely Bryan Cave and ???????
— Thelen insider
Most people agreed that the loss of the China practice was a big blow to Thelen:
When its other partners were departing, Thelen management tried to reassure the firm and the market by touting its remaining practices, including the China practice. Now, faced with the departure of the China group, suddenly it is described as a low margin headache. Which is it? Either the China group was worth something, and Thelen took a hit when they left, or the China group was worth nothing and Thelen management was lying when they bragged about having them after the other partner departures. Thelen has lost all credibility. The smartest thing they can do is admit their problems, and look to be acquired piecemeal by other firms (which is already happening now). Dissolution is almost a given now.
But the loss of these two construction partners could really be the beginning of the end:
Thelen, as in legacy TMJB, will never dissolve so long as its construction practice stays together, and the latter has no reason not to, for a hole host of cultural, economic, historical reasons. The business model of TMJB had always been a constellatin of minor practices revolving around the nucleus of its construction practice, and it has worked fine for a century.
Right now, all the news coming out of Thelen is bad. If there is one thing that the Heller experience is teaching us, people should at least be prepared for the worst case scenario. You want to have a chair if the music suddenly stops.
DC Litigators Michael Evan Jaffe and Ronan J. McHugh Join Pillsbury [Pillsbury]
Earlier: Is Thelen Next?
Prior ATL coverage of Thelen.
(128) 
Comments
Comments hidden for your protection. Show them anyway!
may the first be with you!
NUMERO UNO!!!!
NUMERO UNO!!!!
Look for the late night cleaning crew and window washers to be next. I've heard they'll be leaving in about two weeks. You heard it hear first.
Thelen to.........killing hobos with hammers.
2 - I beat you (#1)
the first meme needs to end
I'm a 1L and I want a job!!!
-nervous T-10 1L
The departing contruction lawyers are minor league. Their book of business is even less than that of the China Practice. Nothing to worry about. Thelen's construction bench is very deep.
Elie, I used to want to give you the benefit of the doubt. I really did. But I really don't understand your obsession with Thelen on this blog. If you REALLY knew your stuff you'd stop reporting that Thelen is imploding and you'd find the real facts. The China group didn't jump ship but rather was acquired (bought) by Pillsbury. I'm really sick of all the bad press Thelen is getting given that merger talks seem to be progressing quite well in actuality. It's sad that you're reporting blog comments instead of getting the facts. I'm sick of this. Disgusted.
I agree with 9. Also, stop comparing Thelen to Heller. It's an inaccurate comparison.
Thelen = TTT
Agree with #9 and 10.
Additionally, the construction lawyers resigned BEFORE the China group decision - not because of it.
"There's nothing so socially unacceptable as being right too early." - Robert A Heinlein
If Thelen implodes, how does this affect my chances of getting a summer associate gig with WILDMAN HARROLD?
Agree with #9 and 10.
Additionally, the construction lawyers resigned BEFORE the China group decision - not because of it.
Agree with #9 and 10.
Additionally, the construction lawyers resigned BEFORE the China group decision - not because of it.
8, I'm not so sure Jaffe's "minor league." Do we know if he's taking all the Clark Construction Group work with him? Clark is one of Thelen's main construction clients on the east coast--the company built the Nationals new ballpark and has signs on over one-half of the new construction and renovations in DC. I'd say that's a pretty big hit to the construction practice if it is the case.
9= Thelen whore.
10= Heller whore.
10, what are differences between the two firms?
nobody makes money in china - it's a legal money pit.
O'Neal wants a SF-centric construction-only firm, without any of those "minor practices" or offices outside of SF. Looks like he'll get it. But why call it "Thelen"? Why not, "O'Neal Law LLP"?
19,
Thelen is a living breathing firm with a strong merger in the works (despite what's often incorrectly reported on this site). Heller is dead and was weak for a long time. They never seemed to have a real shot at merger even though I was rooting for them. I feel sorry for the people there who lost their jobs.
-10
Agree with 8. Don't panic yet, but keep your eye on Buoncristiani. Thelen SF (premergermania) was a construction firm at its core so any attrition and movement in that practice group is revealing and, sorry 9, newsworthy.
Former Thelen
If the negotiations are going well, then there is nothing to worry about, is there?
Elie's facts are right, are they not? And there is absolutely no difference between leaving (a.k.a. "jumping ship) one's current firm to go to another firm and being "acquired" by that other firm. It's not as if all has been rosy at Thelen and this is all coming out of nowhere. I'm not saying the firm pulls a Heller, but I hardly think Elie's handling can be called irresponsible.
And I'm even a Republican.
Elie - these guys are just haters who work for a TTT firm. Keep it up!
How f**g dare anyone out there make fun of Thelen after all it has been through!
All you people care about is….. readers and making money off of Thelen.
THELEN’S A HUMAN! What you don’t realize is that Thelen is making you all this money and all you do is write a bunch of crap about it.
It hasn’t performed ... in years. Its song is called “give me more” for a reason because all you people want is MORE! MORE-MORE, MORE: MORE!
LEAVE THELEN ALONE! You are lucky it even performed for you BASTARDS!
LEAVE THELEN ALONE!…..Please.
Speaking of professionalism, when is it professional to publicly bash someone who is going through a hard time.
Leave Thelen Alone Please…. !
Leave Thelen alone!…right now!….I mean it.!
Anyone that has a problem with Thelen you deal with me, because Thelen is not well right now.
LEAVE THELEN ALONE!
22: I call BS as an insider. No merger is happening. Thelen won't be around next year, except perhaps a few offices trying to make it work.
23, it may be newsworthy, but I'd hardly call the crap on this site news. People love gossip, and that's essentially what this site is good for. It's the legal equivalent of perezhilton.com only much less accurate. Also, from what I hear Jaffe and McHugh are good lawyers, but were never Thelen's construction heavyhitters.
I miss Lat.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
So many haters. So sad.
It is just amazing how Thelen-friendly posters continue to react to the flood of departures. Their posts follow a rigid formula: First, state that the departures were known about well in advance of their announcement in the press or that the departing partners had no or insignificant business; and second state that the imaginary merger discussion are progessing well.
This sort of identical posting seems to indicate that Thelen Management has an assigned a PR team to monitor this site, and post planned responses to bad press. Does any Thelen associate know if Firm management or HR has issued any kind of internal response to this flood of bad press? If the incompetents that run Thelen were actually stupid enough to put that response in an email or memo, it would be interesting to have it posted here.
ABL is enitrely correct in covering the downfall of Thelen. The departure of twenty lawyers in one swoop is a newsworthy event even for a mega-firm, and for Thelen it represents a startling departure of five percent of its remaining attorneys. That is something to write about ABL updates are not just to hammer Thelen, but in response to actual news. Here, this story is newsworthy because the departing attorneys were members of the construction group, which is supposedly Thelen's backbone. It now appears that Thelen's back is beginning to break.
Thelen is another Heller. Associates and staff members stupid enough to stick around deserve what they are about to get. Thelen will be gone in three months.
If it wasn't apparent already,Thelen is GULC'd.
8 = 9 = 10 = 12 = 15 = 16 = 22 = Thelen MP who doesn't know what else to do to stanch the bleeding and the PR burn.
I asked this question in the China group Thelen post and ask it again here-what does it mean for a practice group to be acquired in the context used here? The original claim was that the group didn't defect, it was acquired as in a purchase and sale.
What did Thelen receive as consideration? A thanks for having wasted all the start up costs? As far as we've been told (I'm a Thelen associate) there was nothing different about the China group defection than any other defection, such as the Weitzel group. Firm management admitted that the loss of the China group was a serious hit to the firm.
So whoever is claiming that this was an acquisition and not a defection, please explain the differences between the two.
The thing about comments on Thelen posts is that those who post the negative things, such as the merger with Nixon being off or the loss of the China group being a big hit or the loss of construction partners being on the horizon, are generally disclosing accurate information and those who complain about the negative posters have no basis for their complaints and are usually wrong.
I hope Thelen survives but it's very unlikely that anything better than a return to the pre-Reid & Priest merger Thelen will be in the cards.
This site is so sad. Thelen may or may not be ok. Nobody knows right now. You people (like 31) who spend time writing about the downfall of Thelen are pathetic. Find a hobby!! Like rock climbing!! Thelen bashing is just getting old.
I have an idea, Elie. Why don't you write something about the Supreme Court denying the rehearing of Kennedy v. Louisiana (where they struck down the death penalty for child rapists).
Your welcome in advance.
SCOTUS denying rehearing is not news, it's simply a matter of course, 35.
Also, I'm happy to merge with Thelen. I'm only an associate, but I'm with a large law firm and could use some help standing out at my firm and feel as if mergin with a law firm (albeit questionably solvent) could help in that regard.
A matter of course?? I agree with you, but at least you'll agree that it's more newsworthy than the daily speculation on Thelen's demise. This site is now petty gossip. I'm defecting to the WSJ law blog.
37/35: can you name even one instance at all of SCOTUS granting rehearing? I'm sure there's at least one, but then try to name one since any current member of the court has sat on its bench...heck, how about even when one of them clerked on the court years ago. My guess is that there won't be one, or if so, it occurred decades ago. It just doesn't happen.
I'm sorry for Thelen, but if there are truly good merger talks, then ATL won't torpedo them...Thelen's finances and partner conflicts will.
38, you're right. I just think it's awful that child rapists are getting off the hook and we're sitting around on this site talking about something that may or may not be happening to a law firm. Just seems so petty. --35/37
PS, I agree wtih your statement on the merger talks. We'll all find out the truth soon enough.
Why would any firm merge with Thelen now? With all these partner departures going on , no other firm would know what it was going to get if it agreed to merge with Thelen. Firms that might have merged with Thelen will now just approach individual partners and practice groups. The news on Thelen this week will kill even the slim merger prospects that Thelen had.
At the very least, a firm merging with Thelen may get Thelen's bangin NY office. It's been in lots of movies. Best seen in "Enchanted". Sweet digs. Sweetest I've seen.
Will the DC office close now? It has lost all of its real business generators.
This site gets the same kind of press as the bailout. Nobody really understands what's going on, but everybody has an opinion. Sorry, 42, but nobody here can answer your question right now with accurate information.
Not just the real expensive NY space, a firm merging with Thelen would get Thelen's debt, too (courtesy of that great merger Thelen did with BRS in 06).
Have the banks pulled any lines of credit from Thelen as a result of the departures? Have there been capital calls on the partnership?
More news about TTThelen.....
yawn.
I'm a former colleague of Jaffe and McHugh. 8, calling them "minor league" is absurd. Jaffe has Clark Construction as a client, respresented other major GCs, and is extremely respected in the construction law field. McHugh was one of the most able litigators in the D.C. office, and had the most experience in international arbitration, an important Thelen practice area at one time.
Yawn is right. I want to hear a story about Nixon Peabody.
26 - You need a xanax. I have some I can share with you.
I'm not 26, but I'm supposed to start at Thelen in January. Will you share your xanax with me?? I'M NERVOUS!
49: I have bad news for you. You will not be starting with Thelen in January because the firm will not last that long. You need to contact a headhunter right away. You are in serious danger of being unemployed if you do not find another firm.
42 - that one made me laugh.
I am a construction associate in DC and assure you the departure of Jaffe and McHugh will not put so much as a dent in my billable hours (which, incidentally were over 200 last month).
Doesn't look to me like DC is closing any doors any time soon.
49 -- I gotta co-sign with 50. So, my friend, you may have the entire bottle.
Love,
48
49 here.
50, where exactly do you get your information? How do I know you're not just another uninformed 2L posting here?
48, where can I meet you to get the xanax??
50: Headhunters won't work with first years without experience. Any other suggestions?
Is there litigation in China? Do you have to speak chinese? I imagine its not PI defense
4- What is with the "killing hobos with hammers" comment all about? I don't know why I laugh out loud every time I see that comment.
51: If you are a DC Thelen associate billing over 200 a month, rest assured that the partner you are working for is right now being approached by another firm. You will not be working for Thelen long, because you will leave Thelen when the partner does. That will be soon.
DC will close soon. The only question is, does it close before or after NY?
Several firms are actively looking at Thelen partners right now. Right now, Thelen is not healthy enough to afford these partners any longer. So, you can't look at your own billable hours and assume that Thelen DC is healthy because partners with business in DC will not be at Thelen much longer.
What about incoming first years?
26 = lol. Oy, you humorless ones (48, 49 et al), 26 is parodying the Leave Britney Alone viral video http://www.youtube.com/watch?v=6eOSDRNOLp4
Offers to incoming first years may be rescinded if things do not improve quickly.
Things would have to be awful for a firm to rescind offers. I wonder when accurate info about NixonThelen will be released.
Ok, incoming 1st years, I'll try to be gentle about this. I'm a Thelen SF associate and the writing on the wall should be obvious. The summer program has been canceled. There have been very significant defections and the one thing that could have saved the firm has been declared dead (the Nixon merger).
Is this the type of place that gives you any comfort about your future, even if they were to tell you that the incoming 1st years will be starting in January?
53: You name the place and I be there.
Love,
48
It's not just Thelen; It's not just Heller. A lot of law firms are in deep trouble. Their business is based on revolving credit collateralized against property and businesses. Right now, no matter how profitable a firm may have been in the past, credit is drying up. Just look at the credit freeze-ups that have been occurring on Wall Street.
Working in a law firm that depends on credit to meet its salary obligations and other things is a risky move.
User beware.
58 here. 62, I was supposed to start in January but don't know what to do now. I haven't heard from the firm officially in months. It's not as if other firms are hiring first years now. What should I do?? Even though I see the writing on the wall I feel trapped.
Thelen will not provide any serious comfort that offers will not be rescinded. In fact, Thelen wants incoming first years to go to another firm because Thelen can't afford them now.
65, i second your concerns, i'm in the same situation. i don't really see a way out any time soon
58/65 here. 66, I understand what you're saying, but practically what can I do? I feel loyal to Thelen and like the firm a lot. Unfortunately I don't know what to believe since most of my info comes from ATL and ATL is far from accurate sometimes. There are no firms hiring first years now. What path can I take? I'd like to stick with Thelen, but even if I wanted to go elsewhere there's nowhere to go.
62/65, you should be contacting every person you worked with over your summer and finding out what they are doing. Hopefully you made a good impression on one or more of those people and they'll try to help you.
Otherwise, it's going to be a rough patch as you start from scratch to get into a firm.
And don't feel bad about the lack of communication, there's not much more being said to anyone on the inside.
The thing is that the people in charge are quite decent people and are trying to figure out a way out of this. At the meeting on Monday with Rich and John in SF they were very open about what was going on (finally) and told us the hard truths of what was likely to happen. Give one of them a call, don't be shy.
65, 66 -- Use your time between now and January to network wisely. Work on a campaign. Volunteer with a group where you will make connections with other lawyers. Keep in touch with the Thelen recruiting people and your mentors.
nixon is next to go down. you heard it here first.
69 and 70, thank you for your candid advice. It's a scary time.
Also, watch for Squire Sanders...
Pardon the intrusion, I've been a secretary at Thelen for more than 20 years and all my retirement is locked up in the firm's 401K plan, can you bright attorneys tell me what's going to happen to my money if the firm dissolves? Thank you very much. (Oh, you young attorneys have your whole career ahead of you, I'm just so afraid I'll be unemployed soon with substantial losses in my retirement investments.)
Posted by guest | Permalink
Wednesday, October 1, 2008 2:55 PM
10, what are differences between the two firms?
__________________________________________
One is already gone and the other is on it's way out.
Nixon will be next. I agree.
Congratulations, 74, on surviving at Thelen for so long. As you know, on several occasions long standing secretaries have been laid off with one-day's notice.
The good news is that your 401K is safe. The bad news is that you will be out of a job soon.
74- The best source of information on the 401K is at the blog started by Heller folks.
http://hellerdrone.wordpress.com/2008/09/16/what-is-the-status-of-my-benefits/ is the post that will address the worst case scenario, and then read some of the posts from the last few days to see how it's being handled at Heller.
77 - you sound like a real smug prk whith about as much good advice as dog that has been fed its own cok.
79...do you speak English as a first or second language?
80 - you must be the same smug prk as 77 and I'd like to teach you how to spk english by cutting off your little cok and shuving it up your vaselined ass and see how the words come out then, you smug prk.
79/81: You must be a current Thelen associate. You are so poor and unimaginative a writer that you could not find a job at any other firm better than Thelen, and only a current Thelen associate, so frustrated at his impending unemployment, would be this hostile.
81, Vaselined ass?
What's wrong with KY?
i am a secretary that lost my job at another firm earlier this month and think the way that 77 answered the plea of another secretary in such a smug and conceited manner shows that the only reason he still has a job is because he has is little cok up his boss' ass.
Thanks 78. Your response was very helpful, unlike 77, who I agree sounds like a smug prk.
77 may be a smug prk, but secretaries and paralegals are the first to be fired in tight times. We know Thelen has done this alot before. Thelen staff, start looking for a new job now. Staff will be fired if Thelen fails, and staff will be fired if Thelen merges, so staff members have no chance no matter how this turns out.
84 - "i am a secretary THAT"? Seriously? Nails on chalkboard, even for a secretary, no?
THIS THREAD IS WORTHLESS WITHOUT PICTURES
88 - No, no. That only works for Kash posts.
Come on guys. Picking on a sec. that asks an honest question is not cool. Co-sign 78's helpful post. Meantime, keep the grammar-nazi stuff on me. Surely I make enough mistakes to keep you all interested.
There isn't much defense of Thelen's prospects on this thread at all. Looks like even the insiders have given up trying to spin things in a positive way for Thelen. You can't blame them for giving up, the firm hasn't given them any good news to work with. It won't be long now before the end. ABL should run a poll on how long before Thelen dissolves.
It's not that we've given up. It's that we're busy working. Sorry to disappoint you.
What's happened to 82? No response from him? He must prefer KY..
78 here. Seriously, all Thelen staff (and incoming 1st years) should review the material posted at the heller blog rather than ask questions in comments here. Though there will be some differences in the way Thelen's dissolution will be handled (if it comes to that), the Heller blog will give you a very good overview of what happens, what you should expect, etc. www.hellerdrone.wordpress.com
77 here. Guilty as charged; I am a smug prk. However, what I said is true, staff members at Thelen will lose their jobs soon. Thelen has a very long and reliable history of laying off staff in even mild downturns. Any real Thelen insider knows well enough that this true. I am sure that 74, if she really is a 20 year veteran, knows of several fired secretaries and paralegals at least in the offices outside of San Fran. They will not hesitate to fire secretaries and paralegals now. For godsakes, they have already laid off associates. The secretary who wrote 74 should start worrying more about her employment situation, and less about smug prk responses to her retirement planning questions. Here is some more smug prk advice for you 74: Find a new job right now. You can thank me later.
77 - for such a smug prk, it sounds like you are bitter about being laid off by Thelen.
Elie, since you're reading these and I've picked on you mercilessly in the past: Great job today. Well done.
77/95's point is well taken, even if it was delivered in a smug wrapper. In fact, the staff layoffs at Thelen SF have already started. Two corporate paralegals were given the boot last week.
Any real Thelen associate or partner knows how much trouble the firm is in. Why doesn't the firm just confess it, and help place the remaining partners and employees at other firms, rather than trying to pointlessly deny it in the hope that some truly foolish potential merger partner comes along and somehow does not smell the rank odor of Thelen's desperation, and actually saves Thelen. That will not happen. Why not admit failure, a failure that is happening to other firms across the country, and help the employees?
77/95 (aka the smug prk) here again. 98, I had my suspicions about San Fran staff layoffs but could not be sure. Thanks for confirming it. Please consider my prior post modified in accordance with 98's helpful info.
77/95 - in addition to putting your bitter little cok in your boss' ass to keep your job, it seems like you're also prepared to suck other little coks, like 98's, in order to make your point. seems like you're the desperate one. when did you get laid off? still feeling sensitive, eh?
"The fundamentals of Thelen's economy are still strong"
- O'Neal circa May 2008
Hey 101, this is 77/95. I've never been laid off from Thelen. But I am guessing you must be 74 or perhaps some other has been secretary who, despite taking her boss's cok on demand, still lost her job. (There is no other way a Thelen secretary could have lasted 20 years) That must have hurt your pride.
Listen, Thelen losers, since you guys aren't smart enough to comprehend the situation, let me spell it out for you: you can blame the messenger (whether you consider that to be ABL, the other posters, or me in your minds) all you want while ignoring your own problems, but anyone who has a brain knows that Thelen is a dying firm. Get out while you can. That goes for partners, associates and hagged out secretaries like 101.
Must I be the first person on this thread to state the obvoius:
Construction law = TTT?
You all suck!
104 here with an amended post to fix a spelling error and to provide an explanation for the last sentence.
"Must I be the first person on this thread to state the obvious:
Construction law = TTT?
You all suck! (By "you all," I meant fellow ATTTL posters not Thelen folk. I hope Thelen stays together. Barring that, I wish you all well in landing on your feet somewhere else.)
At this point anyone still at Thelen is there because they can’t find another position, any position, elsewhere. Or, they’re riding it out and seeing how long they can go getting paid to do nothing. It’s sad, but China was one of few practices that was actually bringing in revenue. I wish that someone was selling some puts on them, as I’d put all my money into some of these. #9, I’m sorry to see that you’re not able to find other employment.
Did Cravath ever get that beg bug problem solved?
Oh, good. Another round of amateur hour at Above the Law. Yawn.
... a quote from Who Moved My Cheese by Dr. Spencer Johnson -
"One morning they arrived at Cheese Station C and discovered there was no cheese. They were not surprised. Since Sniff and Scurry had noticed the supply of cheese had been getting smaller every day, they were prepared for the inevitable and knew instinctively what to do. They looked at each other, removed the running shoes they had tied together and hung conveniently around their necks, put them on their feet and laced them up. The mice did not overanalyze things. To the mice, the problem and the answer were both simple. The situation at Cheese Station C had changed. So, Sniff and Scurry decided to change. They both looked out into the maze. Then Sniff lifted his nose, sniffed, and nodded to Scurry, who took off running through the maze, while Sniff followed as fast as he could. They were quickly off in search of New Cheese. Later that same day, Hem and Haw arrived at Cheese Station C. They had not been paying attention to the small changes that had been taking place each day, so they took it for granted their Cheese would be there. They were unprepared for what they found. “What! No Cheese?” Hem yelled. He continued yelling, “No Cheese? No Cheese?” as though if he shouted loud enough someone would put it back. “Who moved my Cheese?” he hollered. Finally, he put his hands on his hips, his face turned red, and he screamed at the top of his voice, “It’s not fair!” "
109, well don't keep us in suspense, who moved his cheese?
I don't know who moved the cheese, but Thelen hasn't had any cheese in a long time and the Thelen mice are getting really hungry. Certainly a bunch of them are screaming "its not fair" on this board.
LOL @ 26
Yeah comparing Thelen to Spears is pretty accurate to me.
LOL @ 26
Yeah comparing Thelen to Spears is pretty accurate to me.
LOL @ 26
Yeah comparing Thelen to Spears is pretty accurate to me.
LOL @ 26
Yeah comparing Thelen to Spears is pretty accurate to me.
Who cares about Thelen? I thought this was about Heller Ehrman!
106 - wrong. There are partners still at Thelen (Heisse, Bastier, others) who have valuable books of business, but who are legitimately trying to hold things together. In fact, the reason they can afford to stay is that they do have good books of business, so they know if things totally fall apart, they can pretty much go where they want. They don't need to try to find a safe harbor now. The associates who work with them probably hope to be able to ride along with them if they do eventually leave. It is the folks who are not so attractive who are more worried about where they are going to end up, and really need to make a move now.
If all the partners with medium-sized books (say, partners that can support 1 or 2 associates) leave, does that put the partners who stay (say, Heisse, Bastier) at risk for being responsible for the entire Brown Raysman debt and all the pricey NYC, SF, DC leases? Or, do they use equity amounts left behind by the departing partners?
Several Thelen practice groups are looking in DC esp the FERC energy group. Unfortunately, they are competing with the Heller DC energy group which is considered younger, better and more versatile. Rumors abound that the Heller DC energy group will spit but that the partners will land safely.
Thelen is dead.
anyone know about the reports that the NY office space is being taken over?
http://blogs.wsj.com/law/2008/10/02/thelen-is-reelin-is-it-losing-its-crown-jewel/
What's more telling than partner departures is the turmoil in Thelen's finance department. They just lost their controller, and from what I hear the people that are left are either trying to get out or fighting for position like vultures over their perch on the carcass.
Rumor has it Thelen is suing Tiano. Anyone know more about this?
Hey folks ... just stopped by out of curiosity. A friend is a senior partner with the firm.
Make no mistake. They are done and it is sad.
Hey folks ... just stopped by out of curiosity. A friend is a senior partner with the firm.
Make no mistake. They are done and it is sad.
Different practice group partners have been meeting constantly over the last week and half. Taking the lead of the Orrick 14 (4 partners, 7 associates, 2 secretaries, 1 paralegal)) who left a few weeks ago, they've been meeting about where to move before the ship completely sinks. It's the smart thing to do. As for the other staff, they fear the impending layoffs.
Anyone know what the deal is for the CT office or what's going on?
#125 --
Where are these meetings taking place?
Any news on what is going to happen to the NY office?
TY!
Has there been any update on the meetings? I'm in SF and I've noticed certain transactional partners away all day at meetings quite a bit (and these were not deal related meetings). I've also heard that the Vestas group is now focusing on finding a new home (where before they were insisting that they were staying with Thelen).