Nationwide Layoff Watch: O’Melveny Fires 90 Lawyers, 110 Staff
First Latham, then Orrick, now O’Melveny.
Yesterday, we mentioned that layoffs could be coming to O’Melveny & Myers. Today, the rains came.
A firm-wide email just went out announcing that 200 people would be let go. The cuts amount to about ten percent of attorneys and ten percent of staff:
It is against this backdrop that I am writing to inform you about some very difficult and unprecedented decisions we have made affecting lawyers and staff. We will be reducing approximately 90 legal and 110 staff positions from our Firm. The majority of the positions are in the US, with some in Asia and a smaller number in London. Altogether the reduction will impact roughly 10% of our lawyer workforce and roughly 10% of our staff workforce.
Is ten percent the magic number that firms are now trying to get rid of?
As we understand it, O’Melveny will be giving a three-month severance package. Latham wins the severance wars again. On the other hand, Latham laid off 440 people, which is just a little less than O’Melveny and Orrick combined.
While many of the O’Melveny people do not yet know if they will be part of the layoffs, the firm did send a message to all of its incoming summer associates. The future summers were informed of the bad news at the firm and told that summer program would be scaled back to a ten-week experience.
For those keeping score at home today, we’re looking at 60 people from Shearman & Sterling, 130 people from Dewey, and now 200 people from O’Melveny that are being let go today. Black Wednesday? Humped Day?
Update (12:57): O’Melveny has released some additional news about its severance package to Above the Law. For some people, the package could be better than what is being offered by Latham. A firm spokesperson tells us:
Departing associates and counsel will receive a payment that is equal to 3 months as a minimum and 7 months as a maximum, based upon completed years of service, with two weeks for each full year of service, with no cap on the dollar amount. More importantly, our Firm provided meaningful bonuses in December of 2008, and significant salary increases in January of this year, which was not the case at all firms. We want to be fair and generous with those who remain, as well as those who depart.
These are both good points. As we’ve pointed out in the past, O’Melveny matched the Skadden bonus (except for NYC) for people who billed 1950 hours. And while Latham froze salaries, O’Melveny did not.
We’ll keep you posted. Read the full memo, after the jump.
O’MELVENY & MYERS — MEMORANDUM — LAYOFFS
Last fall, I sent you a message about our Firm’s performance in the face of an unfolding economic crisis. I indicated that our leadership would be monitoring the economic downturn very closely in order to manage our Firm to weather the storm. Unfortunately the crisis, and its impact on our clients, has become much more severe over the past several months. Almost all businesses today have felt the pressure of this unprecedented economic downturn, and we are not immune. Our Firm remains financially strong; however, we have excess capacity based on
current demands and those we anticipate going forward. Most of our clients face an entirely different market today and we are determined to find new ways to meet their needs in a challenging economy. Sound business management has required us to take steps so that we have the agility to meet the current and future expectations of our clients.
It is against this backdrop that I am writing to inform you about some very difficult and unprecedented decisions we have made affecting lawyers and staff. We will be reducing approximately 90 legal and 110 staff positions from our Firm. The majority of the positions are in the US, with some in Asia and a smaller number in London. Altogether the reduction will impact roughly 10% of our lawyer workforce and roughly 10% of our staff workforce.
This was a decision we very much had hoped to avoid. As many of you know, we have taken a variety of measures, including several non-personnel cost reductions, a series of reductions of non-lawyer staff over the past two years, and reduced hiring of new attorneys. Unfortunately, after a thorough review of all options, we concluded further action was needed to adjust our staffing levels to current and future market demands.
The people who are impacted by today’s decision have made meaningful contributions to the Firm and we regret having to take this step. We are working with the affected people, are speaking with them individually, and are providing them with resources to help ease their
transition. Over the course of the next several days our partners and senior managers will be holding Town Hall meetings with groups of counsel, associates, and staff to provide them with more information and respond to their questions.
While this is a difficult day for us all, our Firm has all of the right attributes to withstand the current economic decline. We have a highly diverse practice, extremely talented and creative lawyers and staff, and an exceptional group of clients with whom we will continue to work closely to help meet their needs in the face of a tough economy.
A.B. Culvahouse
Earlier: Open Thread: Musings on O’Melveny Layoffs
Associate Bonus Watch: O’Melveny Makes It Rain, Baby (At least outside New York. For 1950+ hours.)
Prior ATL coverage of law firm layoffs
(281) 
Comments
First?
THE SHIP BE SINKING...!!!
flurst
Sadly first.
Any news on severance?
Nice math, Elie.
Severance package details? Half-Latham?
Any word on what they're doing with their incoming 3L's?
Also, who's next?
Given the lack of explicit discussion about severance packages, is it safe to assume that they went with market based 3 months?
90 + 110 = 190?
Nice math
Jeez, not even TTThursday yet
Know your limitations and be content with them. Too much ambition results in promotion to a job you can't do.
Were first years cut? And if so, how many?
What are they doing with their incoming associates and their summer program?
Gibson = Undisputed CA #1?
O'Melveny? Is that some kind of non-alcoholic beer? It's not scotch, I know that much.
Should have moved to Texas. Or at least had a V8.
Somebody give me a hand with these deck chairs, please.
summer program was reduced to 10 weeks instead of 12, starting at end of may instead of mid-may. no word on how this will affect offers for summer associates.
10: 10 of the staff members cut were not people. duh. It's too bad, though, since chimps in tuxes definitely add some levity in a down economy.
3L going to OMM in the fall... we got an email this AM that said that start dates are pushed back to Dec. 2009. No word about deferral stipends. "You will be hearing from your recruiter soon." WTF?
Not safe to assume 3 months - for some years much worse than that
Summer program is shortened from 12 to 10 weeks.
Were any first years cut?
As a sa this year in the DC office I'm getting more and more concerned about whether they're going to let us lunch at Charlie Palmers or whether there's going to be cut backs in this area also.
Any word on the booze-cruise? Please, please don't cancel it!
any more info about 3Ls going to OMM?
1. Gut the support staff before laying off attorneys. Big law has way too many helpers. I agree that rainmakers need secretaries, but first years? They can use word processing and enter their own time.
2. The work of paralegals can be done by first/second years.
3. Marketing? Please.
4. Lower the pay of summers. Plus stop all the silly expensive summer events.
5. Defer a portion of base salary of attorneys so firms can still pretend they pay "market."
6. rescind 3L offers.
The California carnage continues!
Where would ATL be without layoffs? Ellie would be out of a job. The only reason I have for checking ATL is to get the latest scoop on layoff news.
Ellie actually enjoys layoffs. Without them, he'd be forced to eat at McDonalds...ah who am I kidding? Ellie eats at McDonalds anyways.
OK, I'm starting to hoard food, gas, and ammunition. I have my eye on a nice, sheltered spot in the mountains.
"Ellie actually enjoys layoffs. Without them, he'd be forced to eat at McDonalds...ah who am I kidding? Ellie eats at McDonalds anyways."
Stop knocking McDonalds.
14, either GDC is suffering from a catastrophic hubris to be revealed this summer, or it's managment is about to become truly legendary for its foresight and business acumen. Because the fan is now choked with sh*t and there is no end in sight.
Only in law would a firm layoff 200 employees but keep its boondoggle "summer associate" program.
Best wishes to the departed.
Sink be shipping.
31's got it right.
Doctors say O'Melveny has a bit of a weight problem. It used to take bear claws two at a time and get 'em wedged...like this....
ATL is tweeting now?
"14, either GDC is suffering from a catastrophic hubris to be revealed this summer, or it's managment is about to become truly legendary for its foresight and business acumen. Because the fan is now choked with sh*t and there is no end in sight."
Well even before the current mess, Latham and GDC were both doing better than OMM, and GDC was more litigation heavy. I don't think it would be too surprising if they were going much better than either Latham or OMM at this point.
I like the addition of Ron Burgundy and Cpt. Smith - solid characters.
Crisis... what crisis?
Everything is fine here at Paul Hastings nothing to see here.... please everyone just go about your business... no layoffs here but those that are performance based.
Dear Associates,
HAPPY FIRING DAY!
Today is the day you realize that you will be poor. Very poor. You will never be able to pay off your massive law school debts. Your family and friends will pity you, others will laugh at you. You will never enjoy the career or success you dreamed of in law school.
But you can overcome this setback. There are still jobs to be had in retail. There is no shame in stocking shelves for a living.
For the men among you, this means that you will probably have a hard time finding a wife or girlfriend. For the women, you can still latch on to a man with a job. But be prepared to spend a lot of time on your back, as this is the only way you can "add value" now.
Sincerely,
The Partners who did this to you.
WYETH V LEVINE!! Please do story on this. Pharmaceutical litigation survives!
This firm seems to be in real trouble. Not "bad economy, lay off a few people and ride it out trouble," but maybe ceasing to exist as an independent entity trouble.
and this is funny because...?
WHICH FIRMS WILL LAYOFF IS SO EASY TO PREDICT:
Firms with PPP less than $2.5mm AND leverage greater than 3 will be laying off big time. If your firms falls into this category, there will be massive layoffs. Watch.
An acquaintance of mine was among those fired. He went to a public undergrad and rented his summer house so I can't say he didn't deserve it.b
Layoffs, layoffs and more layoffs! This is going to be a great day.
Partners, keep milking the associate cow!
typo "The cuts amoutn to about ten percent of attorneys and ten percent of staff"
sheesh
Two 3L’s from Seton Hall are driving along the Jersey Turnpike towards Manhattan. The woman in the car looks up from reading the latest Vault Rankings as the man slows the car down.
3L Woman: “What are you doing?”
3L Man: “Isn’t that Arthur B. Culvahouse, Jr., Chair of O’Melveny & Myers LLP, by the side of the road? Maybe he needs a ride into Manhattan.”
3L Woman: “He has an axe!”
3L Man: “But he is a BigLaw partner. Maybe if we do him a favor, he will offer us jobs at O’Melveny.”
3L Woman: “But he has an axe!”
3L Man: “I’m sure there’s a good reason for it.”
The man stops the car, and lowers the window.
3L Man: “Excuse me, Mr. Culvahouse, but what’s with the axe?”
Culvahouse: “It’s a . . . . . letter opener.”
3L Man: “Hop in!”
typo "The cuts amoutn to about ten percent of attorneys and ten percent of staff"
sheesh
What does this have to do with layoffs at Jones Day?
amoutn? amoutn?
Spellchecker!!!!
Was this post an early April Fool's joke?
Is Jones Day doing its layoffs on Thursday or Friday?
Woohoo, no nervous T10!!!!
Rainmakers are great at raining layoffs. I hope Obama taxes them dry.
I remember whe I used to snicker quietly at my friends who pursued PhDs in philosophy, literature, and history. Who in his right mind would attain a terminal degree in perpetual unemployment? That karma thing sure is a bitch.
26 - You need a visit from Douche Patrol!
any more info about 3Ls going there?
Best wishes to those laid off...CA is getting slammed...
oh and one more thing, I am not gay.
Rainmakers are great at raining layoffs. I hope Obama taxes them dry.
The sink be sinking
It was a good run while it lasted. I have been at big law for eight years and have squirreled away close to 200k, own a home, and have no credit card debt. I have no regrets if the bell tolls for me.
How about Ash Wednesday? The explosion of layoffs already happened, this is just the continuing fallout.
no nervous T10 makes me think he's scared he'll be outed, or he's in a corner because he was supposed go to OMM. Either way, I'm happy he's gone.
Elie--any word on deferral stipend?
The ship be shipping?
Do we know how the cuts are distributed across offices?
I wish Paul Hastings would at least be honest and open about what they are doing like so many other firms have.
I'm nervous about getting my face gnawed off by Chompers.
63 -- NICE.
--Elie
Any word yet on how many folks accepted Pillsbury's voluntary buyout, and how many are being involuntarily terminated?
As it was on "The Amazing Race," O'Melveny will kneel before Quinn
#68 -- They have been. Paul Hastings usually pushes the female associates down the stairs everyday around 2:30 or so.
The writing was on the wall for all to see once their high profile IP litigators left and went to Kirkland. Cendali and Co. obviously saw the disasterous year/years in OMM's future and went to greener pastures.
I can't disagree with any of 26's points, sorry. How can you run a firm without lots of staff? Ask a government lawyer.
62, you are a douche for saying it but its the truth. That's what you are supposed to do with a BigLaw career. Ride the tiger; meanwhile, get a nice place you can easily afford, and sock away some funds for your family and for a nice used sports car or whatever you are into. When its over, buy yourself a pricey bottle of champagne and go your own way in peace.
I remember whe I used to snicker quietly at my friends who pursued PhDs in philosophy, literature, and history.
__________________________________________
Interesting. Both my mom and one of my uncles are historians. Both are quite securely employed--and my uncle actually used to be a lawyer about 20 years ago. They have never in their professional lives encountered anything like mass layoffs, nor are they likely to.
No snickering from biglaw here.
ATL's got lawyers, architects, fashion, and business people covered. Can ATL start a tabloid-style site for psychologists, therapists, social workers, and other mental health workers? It seems good material ought to be available and I could use a networking portal for finding the therapist I desperately need. Based on ATL comments I can't be the only one on here who needs that kind of network.
While you're at it, can you, ATL, start a site for nurses? I have a thing for nurses.
NY has to be getting slammed much harder than is being reported. Many of the firms are completely dominated by transactional work, and I know they're taking a hit (See Cravath 2008 revenue numbers).
WHERE ARE THESE REPORTS? Are the NY firms just conducting stealth layoffs? If so, someone report them.
Law firms are so full of s*** .
"approximately 90 legal and 110 staff positions" = more than 90 legal and 110 staff positions. Why the vagueness other than to be deceive.
I have said it before but will say it again: These types of layoffs are great teaching moments. I am sure every one about to be layed off voted for OBAMA. This will be a good lesson to them that voting for someone who wants to cripple the private sector is not great for you if you work in the private sector. The private sector will likely see no economic growth over the next five years if not longer. If you are a partner at a firm your taxes are going up, your house just got more expensive because your deduction of interest payments just got capped , and ppp are falling. You are screwed. The only way to respond is to get profits back up. If you cannot increase the work you have, then the only other alternative is to try to raise margins by cutting costs. A law firm's number one cost is associate salaries. The lay offs will continue and intensify. Thinking "long term about the future for when the ecomomy turns" is to indulge in a fantasy. The future will not look anything like the past. Change you can believe in. O
when will these stupid fucks eliminate these useless summer programs?
And first years are useless. Hire people 3 years out only. The guys who run these firms are clueless. Ask Marc Drier.
80, you're wrong, layoffs will stop and all these jobs will come back once Obama raises taxes on law firm partners. 2010 can't come soon enough.
Yes We Can!
"More importantly, our Firm provided meaningful bonuses in December of 2008, and significant salary increases in January of this year, which was not the case at all firms."
Ha. Wonder which firm they're talking about here.
Also, I'm not sure who's dumber: the "Obama will fix everything" crowd or the "it's all Obama's fault" crowd.
80, dude give it a rest. No one reads your long, boring, Obama will ruin the country post. Stop jerking off to anime porn in your mother's basement while trolling ATL and get a life.
80- have to agree with you. I don't think I encountered a single associate at my firm who wasn't voting for O. When I asked why they were voting for him, I got the regular littany. Now that he's in, those associates, just like everyone else, is either going to get canned, or have their taxes raised enough and their tax deductions lowered enough that the salary freeze will look like a visit to Disneyland. I've also had three legal assistants tell me they can't wait for O's tax increases to take effect on the wealthy. One actually told me that she wanted more of my money redistributed to her. When I asked her if she realized that was Communism, she said "yeah, but I get more money."
80 -
actually, the teaching moment here is that there are alot of morons in the world. People like you, who think that just because two events occurred in close proximity they must be related.
Your argument that Obama's election is causing these layoffs is absurd. Why don't you blame it on the AFC winning the Superbowl, or on Jason choosing Melissa over Molly on the Bachelor, or on what side of the bed you got up on this morning?
Elie,
Please, please stop saying that Latham gave 6 months severence. Latham's severance was CAPPED AT $100,000, which is less than half the yearly salary of 4th year and up. For 8th years, the severance was closer to 4 months. Because there is no cap, OMM senior associates got better deal. Details, details.
80 - well said.
84. Dude, get a clue Obama has knocked the stock market down 20 plus percent since day 1, pull your head out of your ass. By the way, Obama will ruin this country. DOW to 4000.
80 = fear mongoring moron.
Associates billing rates are a law firm's number one source of income. So, NO, the lay offs will not continue and intensify. Once a firm cuts the number of associates to match the work coming in, the firm will not continue to lay off associates.
Well played 84.
84. Dude, get a clue Obama has knocked the stock market down 20 plus percent since day 1, pull your head out of your ass. By the way, Obama will ruin this country. DOW to 4000.
84. Dude, get a clue Obama has knocked the stock market down 20 plus percent since day 1, pull your head out of your ass. By the way, Obama will ruin this country. DOW to 4000.
75--Government lawyers aren't charging clients $$$ for their attorneys to do work that staff should be doing. Well, actually they are. The difference is that the public doesn't get to review their monthly statements to see how our tax dollars are being spent.
75 - Sorry, that may be the most laughable thing I've ever seen on this board. Do you know anybody at DOJ, or in government in general? The U.S. government is the single most over-staffed institution in the history of the world. You were kidding, right?
90, and how much work will be going to private law firms after Obama decimates domestic hedge/PE funds, cut down on charities with his new itemized deduction limitation, and expands the public sector to absorb a third of the economy.
I think the lesson from all of this is stay the hell out of California if you want a job.
(1) WHY ARE CALIFORNIA FIRMS seemingly disproportionately affected by the layoffs thus far [structured finance NY shops ala Cadwalader excepting]? Is it because they all tried to "New York"-ify their practice?
(2) What is the point of laying people off if you then offer significant severance packages? Why not keep them around and at least get some use out of them, e.g., pro bono? Is this all "to make room for incoming first-years"? Are firms suddenly going to renegotiate their RE agreements and reduce the number of floors they're leasing?
84, how come whenever Obama holds a press conference when the markets are open the Dow plummets?
please take the Obama argument somewhere else. xoxohth.com is a good place to argue.
90 Come out of the fantasy and look at the real world: the private sector has come to halt. The private sector cares about one thing now: preserving capital. When the private sector stops spending, law firm business comes to a halt. The layoffs have just begun. And the ONE's announcement that he is going to raise every tax he can think of in 2011 is just making business preserve their capital even more. change you can believe in. O
What I despise is this zero sum mentality which dictates that because Bush was a moron then anyone who opposes him must be a genius.
Obama is a moron. He refused to release his college grades. Why? because he got into Harvard by checking "black" instead of "white". i remind that he attended at the inception of AA.
Yes, he was magna and on LR but LR at Harvard not based on grades entirely and anyone can graduate magna if they study enough, doesn't disprove that he never should have attended in the firs place.
As stupid as Bush was, Obama is stupider.
Do firms report paid out vacation as part of their severance package?
80, 85, 88, 89, 92, 94, 96, and 99:
No Chocolate City For You!
"They still call it the White House, but that is a temporary condition."
For 80 and 85 and all Obama haters. Read this book:
http://www.amazon.com/Shock-Doctrine-Rise-Disaster-Capitalism/dp/0805079831
If you can read it with an open mind, which I seriously doubt, it will change your thinking about the glorious "private sector." Enjoy.
More California laid off associates = more people that can't pay the 700,000 mortgage on the McMansion = more people that can't pay the BMW loan = ho hum, just another day in paradise. It is going to get really, really ugly out here.
102, the honors system was different at HLS back then too. Around 70% got cum laude at HLS until the mid-1990s, whereas it is only top 40% of students today.
Great, so if you're a NINTH year, you might have gotten more than a 2nd year at Latham. Big deal.
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
Anyone else notice the DOW seems to be jumping 2% the day OMM announced layoffs? Maybe if they'd done it a few weeks earlier we'd be at 8000.
Oh come on people, Obama's plans aren't perfect, but you can't attribute the daily stock ticker to him. (Without looking ridiculous. Where'd the first 5000 points go?)
"Obama will ruin this country." Blah, blah, blah, you sound like nutjob.
To 85:
I am a Big Law Legal Assistant and I am embarrassed for my counterparts at your firm. I am a staunch capitalist and I have a great respect for people who shoot for the stars. Do them a favor and buy them Atlas Shrugged and make them read it. Seriously, it was required reading in my house growing up. If they read it (and understand it) they will see the error of their ways. Also remind them that as Big Law paralegals they are probably making a decent wage. A wage that Obama will soon come for after he rapes the 250+ crowd. Everyone who makes more than 50 a year will see their taxes go up, of that I am sure. Also, I apologize for my generation (30 and below), we as a group are morons.
John Galt lives
98- With regard to your point number 2, they have to give severance at some point, whether it is now or in 6 months, so why not get rid of them now and get it over with.
I was considering OMM, but in the end I decided I'm not really a crying pansy type of a guy.
Great, so if you're a NINTH year, you might have gotten more than a 2nd year at Latham. Big deal.
105, obviously the "private sector" is the root of all evil and must be eradicated.
However, I am surprised that you are bothering to post on the Internet here, instead of going outside and enjoying the worker's paradise where you live, which is either Cuba or North Korea.
In the unlikely event you don't live in those two countries, why don't you move there? Don't let the door hit you on the way out.
86. I am sure you are right: none of the partners at your firm give a shit that O wants to raise their income taxes by 10%, cut their deductions by 30% and raise their capitial gains tax by 33%. They are fine with this. The layoffs have nothing to do with that. And, the client who did not give a shit about the bills for the last two years who now calls at the first of every month to say he cannot affort the bills, he too does not care about the massive tax increases looming in his future. No you are the smart guy; you know that the client and the employer do not alter thier behavior at all when the see themselves getting significantly poorer. Hey you are 2L. Who could doubt your wisdom. Change you can believe in. O
Have we gotten an office/class year breakdown yet?
102 = racist.
Obama is not responsible for the economic collapse but his response has not made much sense either. So it is not an either or proposition but it is true that the markets have zero confidence in the government's ability to right the ship and the taxing and spending debacle that is the economic stimulus and the Obama budget are precisely the wrong responses to this problem. Bailout part 1 under Bush was certainly no better though. They aren't even sure where that money went. What a joke our government is. And we are looking to them to solve our problems. Please.
Anyone down to hit up Fudruckers after work today? I hear their extreme fajitas are to die for.
Obama thinks the stock mrket is like a "political poll". I mean, can this guy be ANY dumber?
Hey Barry, nobody ever lost their life savings betting on a political poll you dipshit.
more big firm layoffs not yet reported are coming this week or next.
BO isn't the cause of the cuts but he certainly isn't helping to restore confidence in the markets, esp. b/ of his team's (ie geithner) inability to explain how it plans to tackle the problems in the financial industry("here's another $30 billion"). the tax proposals don't help either.
THE SHIP BE SUNK, START SALVAGING THE SCRAPS
111 -- you are an ayn rand fan and only a legal assistant? grow some balls, son....
To 124:
I was going to go to law school a few years ago and these days I'm glad I didn't. I'm still plotting my next move.
Love Always,
111
Why are people trying to drum up Jones Day layoff rumors?
If you really want to understand the economic collapse, read "Contagion" by John Talbott.
Wait until Obama lifts the social security cap on incomes above 250, at first, and then elminates it entirely.
Anyonewho wants to make money in this country will now have to pay for those who dont (even more than they already do).
top 5% of wage earners pay 60% of the taxes. A majority of citizens in this country pay ZERO effective federal income taxes. ZERO. Is that "fair". Is that "neighborly"?
I know, I know. I'm a racist.
Agree with 116. Obama is a tool.
120 - cracked me up! i haven't been to a Fudruckers in 8 years. . . I miss them. Damn Manhattan!
Nom Nom Nom
More GRAPES!!!
Any info re: how the layoffs are spread between offices?
Nom Nom Nom
More GRAPES!!!
20/65 -- Deferral stipends for starting 2-3 months after your originally anticipated start date?!? Please let us know when you hear about the "deferral stipend."
Its a wonderful condition we've entered into in this country where political opposition is automatically equated with racism.
Anyone who has ever traveled to a communist country will know that murals of dear leaders dot public squares and opposition is denounced.
Anyone who voted for Obama who makes(or made) more than 200K should be thinking twice about their choices.
severance seems to be significantly worse than latham's in my eyes.
also, where is there 75k deferral program?
and wtf's up with gibson? pride? or exceptional management?
102 = racist and stupid. Putting aside that you don't know Obama's college grades, you are saying his grades in college are relevant, but not his grades in law school (which earned him magna)? huh? also, 107, your stats are misleading b/c relate to (1) late 90's, not early 90's when he graduated and (2) cum laude, not magna (which was never more than 15%)
11 and 125,
go get me a cup of coffee. we aren't paying you for your opinions.
I dont see the problem. O is going to create a whole bunch of "Green Jobs." All the layed off dopes who voted for him can apply. Change you can believe in. O
125: Is that next move away from 8?
"and wtf's up with gibson? pride? or exceptional management?"
No reason why it can't be both.
138:
I think you mean 111 and 125. Proofread you mope. BTW, that is why you need people like me. You might know the law, but you can't write for sh*t.
Hugs!
137. He got to Harvard on Affirmative Action. Does anyone dispute that?
No way OM severance is better than Latham's (unless you are a secretary who has been here 14 years+). An 8th year associate (16 weeks severance) might make more than $100k (too lazy to do the math) in severance at OM, but do you really think there are a lot of 8th year associates getting laid off? Of course not. Latham severance is better for at least 95% of associates laid off -- probably 100%
HEY ELIE, who gives a shit about what the total number of attorneys are at each firm. You can't compare Skadden to Quinn. how fucking hard is it to post a PERCENTAGE so we can see how badly these firms are really doing?
"102 = racist and stupid. Putting aside that you don't know Obama's college grades, you are saying his grades in college are relevant, but not his grades in law school (which earned him magna)?"
Dipshit, of course college grades are relvant to discern whether he deserved to attend Harvard. Magna at Harvard Law attained by a guy who arguably wasn't qualified to have attended harvard in the first place is fairly ironic, don't you think?
So i ask you, why does he not release his college grades?
I recall the uproar when Bush refused, then did nd itturned out that not only did he have a C average but so did Gore and so did Kerry.
Release the grades, admit you're an Affirmative Action candidate and move on. If he's so proud of AA, why not just admit it?
Moreover, in that he's actually white and AA was aimed at the historically disadvantaged, were I black, I'd be pissed that this dipshit took my spot in the Harvard Law AA group.
So whats the real racism, denying one's white heritage to claim affirmative action or calling someone out on same?
I know, I'm a "racist".
Btw, asians used to be afforded AA until they overpopulated HYS so was it racism to restric AA to subsets of Asians?
137, since you know so much about the honors system in early-90s HLS, tell me what percentage back then was magna cum laude? It looks like you're telling me it may have been as high as 15%, when we all know is a strict 10% today. Also, please give me a cite for where HLS conveniently doubled their cum laude total only for a few years in the late 1990s, and never before then.
Yes, I know I am a racist for daring to verify the qualifications of a black man.
Ehh, 49. Just ehh.
Hey 82, you want to tax the partners more? No problem. Associates, say goodbye to your bonus.
146:
Don't you know that you can't question the credentials of anyone who happens to be black?
80/92 - so you guys are mad that Obama is not cleaning up the steaming shitpile that Bush left for him fast enough? Morons. All this damage was done in the Bush years, it is just continuing to be revealed.
"Obama will ruin this country." Oops, he was too late.
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
ANY WORD ON WHETHER THAT CRYING SOB OF A PARTNER FROM THE AMAZING RACE GOT DE-EQUITIZED OR LET GO?
PS ELIE YOU SUCK
147, grade inflation at HLS was causing higher percentages of cum laude and magna every year b/c they used to be set at a certin GPA. They were ticking up every year until cum laude and maga was switched to a set %. Not sure what % of Obama's class made cum laude (but lower than 70%, b/c 70 was peak in late 90's), but that's irrelevant to Obama b/c he graduated magna cum laude. In the late 90's (i.e. before they changed system), the percentage was 15%. Not sure if you are same person as 102, but my point for 102/146 is how do you acknowledge someone was in top 15% at HLS (and made law review, which was based on grades and writing), but then accuse this person of being stupid b/c you don't know their college grades. Oh, I know, b/c you're racist.
151, you've never blamed Bush for the 2000-2003 stock market fall (starting in April 2000) and recession, right?
It's nice to know you're very principled.
162, if he is so smart and had superb grades, why does he not release a single transcript from any of his schools?
Also, what was the GPA cutoff in the early 1990s then.
Yes, I am a racist for asking this question.
-- 147 (not 102)
95, governments, federal and state, are "over staffed," but what does that surfeit of staff do for lawyers or other professionals? They do exactly what most people do when they know they can never be fired. In public administration, staff =/= support. Ask me how I know.
26 is correct and the fact remains that almost all large firm junior lawyers do not need and in fact do not use a dedicated assistant on a daily or even weekly basis.
151-- Another liberal zero summer. No, dickwad, we're pissed that we've followed an unqualified idiot with another unqualified idiot whom everyone automatically thinks is a genius because he's black and can strng two sentences together.
Its amusing to me that your average whit liberal Obama supporter grew up in a suburb where the nearest black family lived 15 miles away (3 miles away in some parts of New Jersey), invariably knew one black kid in the 7th grade and think they are authorites on the persecution of africans in this country.
If these dipshits can ever decouple their moronic "white guilt" for two seconds from their commen sense, they'd see that voting for a black guy or against black guy has absolutly zero effect on the fairness of one's character.
For those of us white kids who grew up in urban centers in the 70s and 80s, as minorities ourselves, we have vey little compunction about viewing a guy who happes to be black as an idiot, or as a genius for that matter. His skin color has absolutely no effect.
His tax policy, however, does. If the senselss masses could pull their heads out of their MTV infused asses for one second, perhaps they'd draw their own conclusion, instead of the one drawn for tem by Matt Damon, Sean Penn and Fergie.
146:
Your typos show that It is very hard to type with your knuckles. GWB destroyed the myth of white superiority. GWB demonstrated that nepotism is the white man's affirmative action. Obama was the president of the Harvard Law Review, the law school equivalent to the Heisman Trophy. He's now President of the US, and leader of the free world, and you are concerned about college grades? Grow up, you knuckle-dragging racist wingnut!
"We didn't get our forty acres and a mule, but we did get you, CC."
I don't give a flying f*ck about Obama's grades. Fact is, he's the single greatest politician any of us will ever see in our lives. Enjoy it while it lasts because sooner than you can grease your pole some knucklehead like Bush or Clinton will be back in power.
167--First, I type on a Dell which has keys which stick. Second, you clearly are an idiot.
Were you to step outside of your small inferiority complex-ed world, you'd see that nobody gives a rats ass what color you are except you.
I'm tired of treating morons with kid gloves. first Bush because of his family name and now this guy because he's "black".
He's not black. He's half-black. And half-whote, for that matter. His black father abandoned him and nobody seems to care about that.
If I marry a Asan and have kids, are they asian or are they white For that matter, if I marry a half-"black" girl, are my kids black or are they white.
All of this racial classification is a useless tool of the liberals to control the minds of the underclasses. And you've clearly succumbed. Learn to think for yourself.
In re: OMM's severance, its actually 2 weeks for each year you have completed at the firm, with a minimum of 8 weeks. You would have to have worked at OMM since at least March 2003 in order to get 3 months severance and since at least March 1997 to get 6 months severance.
Also, the line justifying the small severance because of OMM having paid "above market" bonuses is a joke. Those bonuses came with a hard floor on hours (which were not easy to come by last year) and included a heavy discretionary component, which ends up skewing the numbers towards a few associates -- and certainly not the ones that were affected by today's layoffs.
White & Case has scaled back the summer to 10 weeks as well
Co-sign 167. 169, grow the fuck up. Seriously? College grades? That's the best you have???
OMM's complicated, mealy-mouthed severance package doesn't disguise the fact that these cheap bastards are sticking it to their associates--BIG TIME. When the dust settles, law students with a choice should pick Latham, not OMM.
>
He got that position because he was half-black. The quilt ridden whites voted for him so they could feel better about themselves.
*sighs*
*watches rerun of "Clarissa Explains it All", masterbates*
*eats bag of Funyuns*
20: deferral stipends?! HAHAHA yeah sure
168, you must be joking. Let's wait four years and see what he actually does before calling him the "greatest politician ever." My god - brainwashed much?
166 and 169=what's wrong with America
126 - When are the JD layoffs happening? What have you heard?
OMM LAID OFF FIRST YEARS.
How brutal. Pwn. Wish I had my Vault survey back.
The God damn plane has crashed into the mountain!
178-- I paid over 100,000 in state, local and federal taxes in Tax Year 2007, over 60,000 in Tax Year 2008 (lowered thanks to mortgage interest and property tax deductions).
So I ask you, am I whats wrong with America you useless pussy?
Oh, i forget, I made typos in my comments on an anonymous board and dared to question Barack Obama. You womanly tool.
Wow, 182, you paid so much taxes! Probably in inverse proportion to the size of your tiny penis. I think you should be happy to have the chance to pay those taxes instead of being so bitter about the country that elected your new president. Eight years, pal. Enjoy them just like I enjoyed W.
164, I think cut-off was 5.8 (with 6 being an A- and 5 being a B+). Given that I'm sure grades differ at all law schools (and probably at same law schools when comparing 18 years ago to now), the more relevant info is that somewhere between 10% and 15% of his class would have been magna.
i like how OMM takes a swipe at Latham, but when you think even a little bit about their severance package it is laughable compared to even Orrick's package. who gives a shit about bonuses at 1950 when none of these people who just got laid off hit 1950??
We're talking about something like 8 weeks severance for first years?? 10 weeks for second years? what a joke. they should have fired more staff because they're clearly hurting.
I can confirm first years were laid off at OMM. Just heard from a friend who was a first year there and got the axe.
184, how is that relevant to anything that's relevant to anyone whose opinion matters?
Obama thread to some other website! Go to townhall.com or something.
Thanks for the clarification, 170. This -- "a payment that is equal to 3 months as a minimum and 7 months as a maximum, based upon completed years of service, with two weeks for each full year of service" -- doesn't even make sense on its face. If you need a year of service to get two weeks of severance, how can the minimum severance payment be three months?
Was the severance a minimum three months or not?
The arguments about O-Bama are pointless. Clearly he's smarter than Bush (not hard, really), and a bright guy.
HOWEVER, he has no clue what he's doing when it comes to the economy. He's listening to all the wrong advisors.
We need an Austrian economist to fix this mess. Ron Paul would have been great, but he's not as charismatic as O'bama.
Ron Paul??? I fail to see how dismantling the Federal Reserve would be productive right now. You've got to be kidding me.
No, I'm not kidding at all. The Federal Reserve is part of the problem. Go read and learn.
www.mises.org
www.ritholz.com/blog
http://globaleconomicanalysis.blogspot.com/
Use your brain 188. Severance is calculated based on service time, but in no event will the total payment be less than three months salary. So, anyone who has been there 1-4 years will receive the same amount: salary through 3/31 plus 8 weeks severance plus $5K.
The arguments about O-Bama are pointless. Clearly he's smarter than Bush (not hard, really), and a bright guy. HOWEVER, he has no clue what he's doing when it comes to the economy.
These two sentences are at odds with each other. He is really smart but a dope,
3 months, 6 months, whatever.
If you're a laid off associate, it could be 12 months and you're still unlikely to find a job that pays even 1/3rd of what you were earning in that timeframe.
The two sentences are not at odds with each other: you can be both smart and uninformed.
182 - Move to Canada or anywhere else in the world if there is so much wrong with America. And also make sure you get a doctor to look at those hemorrhoids.
So, to be clear, the package is 12 weeks pay (4 weeks salary + 8 weeks severance) and $5k.
And OMM has the gall to claim that this is somehow better than what Latham offered? We already knew that this place had no class, but the lack of integrity is a bit shocking.
If only we'd elected John McCain . . . he would have cut taxes and, whew! everyone would be tripping over themselves to buy Citibank and Bank of America's toxic assets.
LAYOFFS?!?! Don't blog about -- LAYOFFS?? You kiddin' me MysTTTal????? LAYOFFS?!?!?!one
195 absoutely. O is brillent but knows nothing about economics. If he werent black no one would engage in such nonsense. The he-is-smart-but-stupid line is beyond the beyond.
"We want to be fair and generous with those who remain, as well as those who depart."
That may well be the quote of the year.
"We want to be fair and generous with those who remain, as well as those who depart."
That may well be the quote of the year.
This is horrible. OMM has laid off some really quality lawyers and staff. Capable attorneys who were working nights and weekends to meet their hours requirements were laid off. People who really dedicated got laid off. Just devastating.
Anyone know which offices were affected?
The man with the axe - you are not funny please stop posting.
Regards,
Man with no axe
The anti-Obama political trolling that has overtaken this blog is a strange turn.
Agree with 207 - And I also am curious if anyone knows the breakdown among offices. I have some friends at OMM that I'm worried about.
Has the firm even told everyone who is affected that they are being let go?
Agree with 207 that the anti-Obama political trolling has reached ridiculous levels, but also agree with 190, 192 that the Federal Reserve's policies (i.e. Greenspan's bubble inducing policies) are the single biggest cause of the current economic disaster. I disagree with Ron Paul on a lot of things, but he is spot on when he says that the market should set interest rates.
Any 3Ls hear from the firm?
144:
My severance could beat our severance in a fight.
Has it really gotten to the point where people are arguing over which firm has the "better" severance package?
3L's are being deferred to December 2009. Apparently no deferral stipend, which is a bit shocking given that it seems to be standard.
I don't see the economy rebounding much by Dec. 09, so it wouldn't surprise me if they get deferred further.
Is a deferral stipend standard? A bar stipend of 13k isn't great for making it to December.
As I was entering the elevator (Century City (West Los Angeles), AIG Sun America building), an OMM associate was walking out with a box of her office possessions, including an oversized monitor that she clearly brought from out of the office to use at work. This happened before I read this post. I looked at her and thought, "Is this the start of the O'Melveny layoffs?" And then I immediately came back to check ATL. Scary times...
I just checked my finances and saw that I paid over $6,000 in student-loan interest in 2008. Over $6,000 to carry the loans! I can't imagine getting laid off right now...
Best of luck to ya'll out there.
I feel bad that first years are being affected in addition to everyone else, however, you guys are a losing proposition (as you've heard numerous times before) for a number of years. Add to this that I don't know anyone who is willing to pay (in this climate where even partners are incredibly responsive) for a first year's time, and it kind of makes it hard to justify keeping first years on at the expense of mid- and senior-level attorneys who can actually do billable work (when it comes in) that might actually (positively) affect a firm's receivables. Anyway, it sucks all around to be laid off whether you are a first year or more senior attorney. (Yes, a restatement of the obvious.)
I would love to see information about "standard" deferral stipends. I don't read every post or comment on ATL, but I have seen information about deferral stipends when the start date is being delayed by a year, e.g., Latham and Orrick. I missed the posts/comments regarding deferral stipends for a delayed start date of a few months.
Latham does not "win the severance wars again."
Didn't Latham fire a huge number of associates (not to mention staff) without the 6 month package only a couple of weeks ago? Including many who had received all positive reviews and hit their hours for years? Let's not make them out to be saints of generosity, and especially not by distorting the facts.
hey 216, those stipends were not deferral stipends. they are the original bar stipends the firms offered. i'm sure OMM offers one as well.
latham offers bar expenses, moving expenses + 13,000k. i think orrick has a similar package.
Nixon matched their normal bar stipend when they pushed back start dates to Jan. So incoming 3Ls get 20K for the six months between the bar and their start. And I think Latham offered the same 10K (in addition to their standard 13K) for Jan/Mar pushbacks. OMM pays a 10K bar stipend and no word yet about anything more to get people through to Dec. (without defaulting on rent!)
Time to update the resumes guys and gals. Hmm, let's see here how do I prop up the fact that I spent the past 3-4 years performing due diligence and document review while being grossly overpaid? Looks like Sallie Mae may be asking for a bailout as law school loan default rates are about to skyrocket. Happy early St. Patty's Day!
BTW, these firings should be a valueable lesson to this generation of lawyers that graduate law school believing they are entitled to $200K a year with a corner office. Try swimming with the real sharks in private practice. Or, go temp as a contract attorney for $30 an hour. If I were managing partner at O'Melveney, I would re-hire the dead weight at $20 an hour to do what they were doing at $200K per year. Smart move on paying the pro bono stipend. It's free money for the firm since it is a charitable donation tax write off.
Everyone is a winner at Nixon Peabody!
219, not sure if you're trying to pressure OMM into giving you bar stipends or something, but it ain't happening. Latham did NOT offer a 10k stipend, you're just making stuff out. if you are a 3L, you will NOT get a stipend if you are deferred. Also, Latham did not push back to March, only Orrick did that. And they did not offer any stipend for delayed dates either.
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
80= Sean Hannity or some other DB
i wish Elie would get a severance package.
i wish Elie would get a severance package.
i wish Elie would get a severance package.
80: See below. Marginal tax rate was well above 60% for most of the 20th Century, and was at or above 90% during the Eisenhower Administration. Of course, everyone knows that the US lost all its industrial might during the 1950s and 60s.
Moron.
http://www.balloon-juice.com/?p=18106
233, you conveniently forgot to mention that those top brackets were for people with salaries of over $200,000 in 1960s dollars ($1.4 million in 2008 dollars), plus they had a huge number of tax breaks like unlimited deductions for personal interest or passive activity losses. So practically nobody paid the top rates; it was just to appease the dumb plebians like yourself.
The rates were lowered and in exchange the tax base was broadened. So yes, if we today have a 60% rate for people making over $1.4 million in salaries, and they had unlimited deductions, I think most people wouldn't have a problem with that. However, there is a difference between $1.4 million and $250,000, and between yes or no deductions for tax shelters.
But hey, don't let the facts get in the way of your ignorant pontification.
234 - in the middle of Ronald Reagan's first term, the top marginal tax rate was 50% on ~190K in present value. Look it up.
GIVE BACK ARE COUNTRY OBAMBI!!! WEALTH RIDSTIDRABUTION IS FOR COMMIE PINKOS!!
This shtick is tired and certainly not strong enough to elect you shmucks Palin in '12.
All you douchebag pimple-faced, 24 year old know-it-all 1Ls trashing Obama in the ATL comments in between surfing for gay porn and rubbing a highlighter all over Glannon's Civil Procedure in a dark corner of the law school library where you sit in sweatpants drinking flavored mineral water quitely stewing because you have never had sex and lost the run-off election for vice president of the Federalist Society chapter and have no chance of getting a job, not because of the dismal economy, but because you are a loser with negative charisma and no marketable skills - you guys all need to eat me.
That's right, I am talking to you, douchebag.
No really, eat me.
236 - YOU are awesome! Funny as hell.
co-sign 236
"Images by Tyrone Green"
Dark and lonely on a summer's night.
Cill the partners. Cill the partners.
Watchdog barking. Do he bite?
Cill the partners. Cill the partners.
Slip in his window. Break his neck.
Then his house I start to wreck.
Got no reason. What the heck?
Cill the partners. Cill the partners.
C-I-L-L the partners!
I heard from a good source that Chadbourne will be conducting layoffs next week.
Relax. The economy is in the process of bottoming out and will do so in the next 3-4 months. There will be slow recovery, but this talk of a prolonged recession or "depression" is basic fear mongering. We are not even REMOTELY NEAR the inflation, unemployment and negative growth levels of the recessions in 1973-4 and/or 1982. The more panicked the public is, the easier it is for Obama to push through his agenda. Mark my words: recovery in Q1 of 2010. That being said, biglaw will remain downsized and will not return to the levels of 2000-2007 for some time.
Question: If you're deciding between Latham and OMM, which should you choose?
Answer: NEITHER.
Question: If you're deciding between Latham and OMM, which should you choose?
Answer: NEITHER.
Also co-sign 136. The shout out to Glannon made my night. 136, get yourself a name and a photo and make it your mission to protect us from these assholes.
Can we agree that both OMM and Latham suck, but OMM sucks more because it paid crappier severance.
Ugh, I meant to co-sign 236. Duh. - 244
245, once you balance all of the relevant factors, I think they line up pretty much the same.
Layoff students from law schools that section stack their 1L classes. Students in the sections stacked with lower GPAs and LSATs are bound to have higher 1L grades and enter big law. Fire them and stop recruiting at those schools. Problem solved.
Layoff students from law schools that section stack their 1L classes. Students in the sections stacked with lower GPAs and LSATs are bound to have higher 1L grades and enter big law. Fire them and stop recruiting at those schools. Problem solved.
Layoff students from law schools that section stack their 1L classes. Students in the sections stacked with lower GPAs and LSATs are bound to have higher 1L grades and enter big law. Fire them and stop recruiting at those schools. Problem solved.
248, 249, 250 -- I have no idea what you're talking about, but it is quite clear that you are a complete idiot.
Oh my god, what vicious trick is Fortuna playing on me now?! My valve is completely sealed!
223-229, All who criticize the beloved Obama must be excoriated and ridiculed. He is the ONE. IN O WE TRUST,
WE WILL NEVER FORGET, OMM
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
WE WILL NEVER FORGET
Avoid California firms is the lesson. And avoid any firm that cuts first years. UNREAL.
254 -- You're at it again. Stop being so fck'in melodramatic and lose the sense of entitlement. Also, take your meds.
252, love it! Don't forget to post some excerpts from your manifesto.
255 -- i don't think 254 has a sense of entitlement, s/he is probably referring to the logical sentiment that exists right now in law schools (I have a few friends in top 10 law schools right now): if you get offers from comparable firms but one has laid off first years and the other one hasn't, then most law school students will choose the one that hasn't (as would I). I'm a couple of years out of law school and I remember how long these types of rumors about firms last... people were still talking about stuff that happened years ago, and it affected how we all perceived the firms.
In an elitist AND risk averse profession like ours, a firm is doing itself a huge disservice by undermining its recruitment capabilities in top schools.
I really think the firms who keep the layoffs to a minimum will be the ones who will come out on top after this economic crisis.
you guys are idiots. you will never forget? 99.999% of law students, right now and in 5 years, would give both their testicles to work for OMM or Latham in CA.
257---You obviously don't hava a grasp on what is happening. Firms are doing these layoffs so that theywill still be around after the economic crisis ends. 258 is right. There will always be a new batch of young schmucks ready to jump on an offer from Big Law layoffs or not.
Co-sign 258 and 259. The days when firms needed bodies are over. Any port in a storm.
You Obama bashers overlook the fact that Obama merchandise is singularly propping up the world economy right now. I plan to pay my mortgage from my cache of Montel Williams Obama coins when I'm laid off.
236 Wins.
any more news about offices affected?
Concern about college grades in a 47 y.o. POTUS, belief that major shareholders would dump holdings for mammoth losses solely because a certain President was elected, conviction that no one made any serious money in the 1990s because that was prior to the 2001 tax cuts now being rolled back...
It's reading stuff like this from youngin's who will most likely never question their assumptions later in life that make me feel better about my chances of being employable forever.
Stay insular, 2Ls and junior associates!
To all the current law students:
When drafting your resume, please mention how you were able to carry or cart around 50 lbs. of books in between classes as this will be a criticial skill when applying for a job at Barnes & Noble. The great thing about this depression is that no one is spared, even top 10 law graduates. Who would have thought a lawyer from Pepperdine would be in a better position than these spoiled brat elitists. ;)
To all the current law students:
When drafting your resume, please mention how you were able to carry or cart around 50 lbs. of books in between classes as this will be a criticial skill when applying for a job at Barnes & Noble. The great thing about this depression is that no one is spared, even top 10 law graduates. Who would have thought a lawyer from Pepperdine would be in a better position than these spoiled brat elitists. ;)
Question for all:
Why don't firms simply do away with the summer programs and OCI? At least just for one year. Wouldn't that save some jobs? Summer programs per office must cost about 1.5 million (sa salary, events, relocation, it adds up.)
Question for all:
Why don't firms simply do away with the summer programs and OCI? At least just for one year. Wouldn't that save some jobs? Summer programs per office must cost about 1.5 million (sa salary, events, relocation, it adds up.)
Question for all:
Why don't firms simply do away with the summer programs and OCI? At least just for one year. Wouldn't that save some jobs? Summer programs per office must cost about 1.5 million (sa salary, events, relocation, it adds up.)
258 - 260, you clearly did not read 257's post. It said "if you get offers from comparable firms"... that implies that if you get an offer from, say Latham and Cleary in NY, most law students would pick Cleary. To me that makes sense and it's not much of an extreme view.
omm definitely let go of some quality people...cut the muscle and not the fat...gotta worry about the health of the firm
omm definitely let go of some quality people...cut the muscle and not the fat...gotta worry about the health of the firm, especially in the long run
omm definitely let go of some quality people...cut the muscle and not the fat...gotta worry about the health of the firm, especially in the long run
any more info about offices affected or groups?
19 ATTORNEYS IN NY
what about LA/century city?
Los Angeles Rankings
1) Gibson
2) Munger
3) Irell / Quinn
5) Latham
6) OMM / PH
from within OMM: people were really shocked at the lawyers they let go-- people who were really well respected within their practice departments. we have no idea how they chose who they chose to let go... seems like it was totally at random. it is pretty scary for the health of the firm.
A departing staff attorney said atleast he got his bonus for 08. The remaining staff attorneys have a job but no raises or bonuses for 08. I guess that statement about caring about those who remain is not really true.
A departing staff attorney said atleast he got his bonus for 08. The remaining staff attorneys have a job but no raises or bonuses for 08. I guess that statement about caring about those who remain is not really true.
80 is 100% correct. Obama's presidency has already failed. People are beginning to wake up to the truth. I only hope the damage he has done to this country is reversible.