February 2009
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Partner Profits
Profits Per Partner Up at Weil: (Or 'D'uh: Weil Makes Money')
From the department of obvious, Weil Gotshal & Manges managed to make lots of money last year. Gross revenue and profits per partner are up at the firm. AmLaw Daily reports: Recession or no, Weil’s partners are far from suffering. Profits per equity partner were up 7.5 percent to $2.3 million, while the number of […] -
Dewey & LeBoeuf
Dewey & LeBoeuf Leaves San Francisco
San Francisco is a nice place to visit, but I wouldn’t want to live there. Neither would Dewey & LeBoeuf. The firm just consolidated its San Francisco office into its Palo Alto office. A firm statement went out this morning: Dewey & LeBoeuf has decided to centralize its Bay Area presence by relocating the lawyers […] - Sponsored
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Akin Gump, Musical Chairs, Partner Profits
Partners Leaving Akin Gump
Akin Gump has laid off staff and rescinded offers to summer associates, but those moves are mere details in the grand scheme of things. The American Lawyer reports that Akin Gump lost more partners than any other firm the publication tracks: Akin lost 17 percent of its partners to competitors, small firms, in-house positions, and […]
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Morning Docket
Morning Docket 02.03.09
* After a grueling seven-hour hearing, Eric Holder was confirmed as the first black U.S. attorney general last night. Today, he meets and greets the DOJ’s 110,000 employees. [Washington Post] * Law firm profits are predicted to continue to decline in 2009. [The National Law Journal] * A widow’s trial against tobacco companies starts today […]
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Admin, Announcements, Job Searches, This Is an Ad
DealBreaker Seeks A New Writer (or Writers)
[Ed. note: This is a cross-post from one of our sister sites, DealBreaker. We linked to it in passing last week, but we thought we’d mention it again in case people missed it. If you’re a transactional lawyer with a background in finance or accounting — perhaps you worked on Wall Street or as an […] -
Non-Sequiturs
Non-Sequiturs: 02.02.09
* You think the current U.S. economic crisis is bad? Have you ever heard of a place called “Argentina?” [Crime & Federalism] * Could I get a venti coffee, with room, and some incorporation advice? [Legal Grind] * When did Jim DeMint become important? [The Wonk Room] * Appropriate courtroom maternity wear. [Corporette] * “A […] -
Associate Bonus Watch 2008
Associate Bonus Watch: Morgan Lewis Announces Bonuses With Special Reductions for Tardy Time-Keepers
We have been waiting a long time to get a look at the Morgan Lewis & Bockius bonus structure. The firm announced way back on October 30th that it would be delaying their bonus decision until the market settles. Since then, the firm has found time to institute a salary freeze and fire maybe as […] -
Judge of the Day
Judge of the Day: Bankruptcy Judge Needs Family Law Refresher Course
Judge James M. Peck has received two plum assignments. He’s been handling the Lehman bankruptcy and is overseeing the liquidation of Bernie Madoff’s investment firm. Some people have been hoping that Peck would lay the smack down on these companies; maybe the federal judge just became horribly confused about his responsibilities: Bankruptcy Judge James Peck, […] - Sponsored
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Incisive Media, Layoffs, Media and Journalism
Lawyers Aren't The Only Ones Getting Laid Off
We’ve been reporting extensively on lawyer layoffs, but it’s important to remember that a downturn in the legal profession ripples through many other fields and careers. Today’s sad news comes from our friends at Incisive Media, publisher of well-known brands like American Lawyer magazine and the National Law Journal. Incisive media released this statement about […] -
Biglaw, Magic Circle
British Biglaw: Home for 'Elites'
Despite the difficult state of the legal industry, a British research group has found that the profession is still an elite profession that attracts blue-blooded talent. The results of the Centre for Market and Public Organisation elitism research are published in The Lawyer: Research conducted for The Lawyer by the Centre for Market and Public […] -
Biglaw, Credit Crisis, Secretaries / Administrative Assistants
Open Thread: Standard of Living During the Global Economic Crisis
Cutbacks are hitting every level of Biglaw. Firms have gotten very creative in their attempts to wither cut or control costs. Because of all these rollbacks, weathering the global economic crisis is more challenging than simply holding on to your job — though that is hard enough. How is the economic crisis affecting people day-to-day? […] -
Billable Hours, Job Survey, Pro Bono
Associate Life Survey: What Did You Really Bill?
We received about 1500 responses to last month’s ATL / Lateral Link survey on how much of your billable work in 2008 was really for “client billable” time, as opposed to pro bono or administrative matters. Earlier in January, we had noted that more than a quarter of you couldn’t bill 1800 hours last year, […] -
Dissolution, Law Firm Mergers, Locke Lord Bissell & Liddell, Morgan & Finnegan
Nationwide Dissolution Watch: Locke Lord Locks Down Morgan & Finnegan Laterals
Last week we brought you news of an impending partner defection from Morgan & Finnegan to Locke Lord. Today, Locke Lord made it official. A press release from Locke Lord heralds the bad news for Morgan & Finnegan: Locke Lord Bissell & Liddell, a full-service national law firm of approximately 700 attorneys, announces that more […]
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Perks / Fringe Benefits, Technology
Biglaw Reversed Perk Watch: No More Tech Stipend at Weil
For Biglaw technophiles, one of the nicest firm perks is the technology stipend: a couple of thousand dollars to lavish on a new shiny toy. With the BlackBerry Curve 8900 debuting to rave reviews, and rumors in the tech world of a new iPhone on the horizon, there are lots of toys to get worked […] -
Morning Docket
Morning Docket 02.02.09
* Dahlia Lithwick reviews the new book, Life Without Lawyers: Liberating Americans From Too Much Law. She disagrees with Philip Howard’s argument that “Americans are slowly being choked to death by law.” [Slate] * Change is a-comin’ at the Justice Department. [New York Times] * The new chairman of the Republican National Committee is Dewey […]