December 2008

We’ll have a more detailed Marc Dreier post up later; there have been a number of developments since our last report. In the meantime, check out this post by Zach Lowe, about the breaking news that Marc Dreier has been indicted in federal court. Breaking: Dreier Indicted in Federal Court [Am Law Daily]

There are more updates to the saga of Marc Dreier and Dreier LLP over at Am Law Daily. They report that Wilson Sonsini has been retained, by a “substantial group of partners and associates” at Dreier, “to examine the operations and finances of the Dreier firm, including escrow accounts.” The Am Law post also has […]

* Take a look at these pictures and make your own decision. The world waits breathlessly for the birth(date) of Bristol Palin’s baby. [The Atlantic] * Is the mystique gone from Biglaw? Not so long as Cravath can still pay people in prestige points. [Law and More] * Would we be better off right now […]

We bring you assorted addenda to our earlier coverage of Marc Dreier — founder and managing partner of Dreier LLP, as well as the firm’s sole equity partner — who was arrested on Tuesday night in Toronto. First, Dreier is now free on bail. From the Toronto Star (which a tipster tells us is our […]

If the second-most profitable law firm in the nation cuts bonuses by 73%, what do you expect regional firms to do? Today, the management committee at Epstein Becker & Green made a decision that we will probably be copied at regional firms throughout the country. From the EBG internal memo: The cautiousness of the Firm’s […]

The Wii is a gaming console that has challenged the image of gamers as couch potatoes. Using a remote control with motion sensors, player actually goes through the motions of swinging, throwing, dancing, hitting, and punching (depending on the nature of the game) to get their on-screen character to do the same. Most people love […]

Willkie Farr & Gallagher will be matching Cravath’s low bonuses this year. The email didn’t bother to explain why, since it’s pretty clear that market conditions have beaten associates into submission with a giant, invisible hand. The Executive Committee is pleased to announce the following year end bonuses for associates: Class of 2008: $17,500 (pro-rated) […]

After another craptasticical week for lawyerdom, here’s your weekly dose of wedding cheer. Unfortunately, like many of the firms we cover on ATL, LEWW has been forced to make some difficult decisions. We had to show one set of newlyweds the door–entirely for performance-related reasons, of course, because LEWW doesn’t do layoffs. Here are the […]

The future of the Detroit’s Big Three is looking grim, as Congress has turned tight-fisted in response to the automakers’ request for $34 billion to stay alive. Chrysler is getting ready to throw in the towel, and has chosen Jones Day to do the throwing. From the Wall Street Journal (subscription): Chrysler LLC has hired […]

Legal Week is reporting that Clifford Chance has done the predictable thing and slashed associate bonuses to half of what they were in 2006: The US arm of the magic circle firm will award bonuses ranging from a pro-rated $17,500 (£12,000) for first-year associates to $32,500 (£22,000) for eighth-year associates – a significant decrease on […]

O.J. Simpson is going to jail, finally: OJ Simpson, who walked away a free man after one of America’s most sensational murder trials, was today sentenced to 15 years in prison for a botched attempt to recover sports memorabilia. The sentence was handed down today by Judge Jackie Glass. The judge largely ignored Simpson’s pleas […]

The latest layoff news comes from Seyfarth Shaw. The firm’s Executive Committee sent around a firm-wide email this morning: As part of our planning for 2009, we have reviewed our staffing in light of market conditions and expected client needs — for now and for the coming year. While we continue to anticipate a solid […]

We spent a lot of time documenting the recruiting struggles for Harvard Law School students. Comparatively speaking Yale Law students seemed to do pretty well. The school did not send around an “accept your offers” email to students, and it appears that most Yale students who wanted jobs in Biglaw did okay. A tipster reports: […]

More details have emerged in the story we broke last night, concerning the arrest of high-flying New York litigator Marc Dreier, founder and managing partner of Dreier LLP. In the comments to our post, some of you wondered about the lack of MSM coverage. The story has now been picked up by the New York […]

* Bad news for the big three: the New York Times says Congress “is suffering from acute bailout fatigue.” [NYT] * There were 13 law firm mergers in the third quarter this year (not unusual). The largest number of combinations (5) were in the southeast. [The Birmingham News] * O.J. Simpson is finally going to […]

Prominent New York litigator Marc Dreier — founder and managing partner of Dreier LLP, former head of litigation for Fulbright & Jaworski (NY), and former litigation partner at Rosenman & Colin — was arrested in Toronto on Tuesday. The arrest was carried out by Canadian law enforcement. The alleged offense appears to be financial in […]

* I believe every single IU student that reads ATL has pointed out that IU Law School changed its name to the Michael Maurer School of Law, thanks to a $35 million contribution from Mr. Maurer. Are there other BigTen schools that would be willing to sell the name of their law schools? How much […]

The bad news continues to roll in, this time from Dewey & LeBoeuf. The firm has confirmed that 12 associates were let go today: For many of the associates in our Structured Finance Practice, we have already been able to identify other opportunities elsewhere within the firm. Unfortunately, we cannot find work for everyone. Therefore, […]

Earlier today we reported on an unfortunate affair that took place at the University of Chicago Law School. BLSA members excluded white students from a public forum, causing the law school Dean and the BLSA president to issue an apology. Since our initial story we’ve learned that the BLSA president has stepped down from that […]

If you thought that law firms wouldn’t fire people between Thanksgiving and Christmas, think again. We’ve received reports today that Proskauer Rose has decided to layoff 35 associates and 25 administrative staff. A firm representative offered this statement: We are taking these actions in response to the worldwide economic crisis, as well as an unprecedented […]