Baker & McKenzie: For Some, Deferral Extensions Could Lead to Offer Revocation
Way back in June, Above the Law heard rumblings about issues regarding the incoming first-year class at Baker & McKenzie. The class had already been deferred until January 2010, but in June some tipsters reported that Baker was “rescinding” offers. Others claimed that the firm was simply “strongly encouraging” incoming associates to consider alternatives.
Still, some associates poised to start at Baker hadn’t heard anything at all. At the time, we brought these reports to the attention of Baker & McKenzie management. In June, the firm said:
As we’ve already communicated, we have had to make some difficult decisions in a difficult economy. But we haven’t taken the actions you suggest, and our start dates remain January (and, in some cases, earlier).
But that was back in the heady days of early summer. Now, as autumn approaches, Baker seems to be preparing its incoming class for economic reality. This morning, tipsters reported that deferral extensions — or worse — were coming down on at least some members of Baker’s would-be incoming class:
Last night at 10:30, we received an email from the [redacted] simpleton, asking to set up a phone call for this morning. Phone call from hiring partner was as follows:Economy blah blah blah limited amount of work blah blah blah majority of you will not be starting in January. Starting in January, 5k stipend plus benefits for up to six months. at ANY time during six months, MAY get a call from b&m, have 1-2 weeks to report to work, but absent a major bump in work, not likely to happen. If after June, no call from b&m, “the relationship will end.”
Twelve of 18 incoming associates got this lovely treatment
“The relationship will end” does not sound promising. After the jump, Baker responds to these reports.
We again reached out to Baker McKenzie. The firm acknowledged that it had reconsidered its position with respect to its incoming class of associates:
As the Firm remains financially strong, we are continuing with our plans in North America to start more than 30 incoming 2009 new associates in January 2010. In a few cases we have already started associates sooner, and in a few cases we have deferred associates to June 2010 and offered a stipend plus medical benefits while we continue to monitor our need for additional resources.
That sound you just heard was probably a group of Baker associates singing in unison:
And the people bowed and prayed
To the neon God they made.
And the sign flashed out its warning,
In the words that it was forming.
And the signs said, the words of the prophets
Are written on the subway walls
And tenement halls.
And whispered in the sounds of silence.
Congratulations to those who can start; good luck to those who can’t.
Earlier: Baker McKenzie Profits Per Partner Tumble. More Outsourcing in the Future?
Proskauer Rose and Mintz Levin Kick Off ‘Deferment Extension’ Season
(145) Comments
Comments
Stay firsty, my friends.
The ship be sinking...
you said it Michael Ray
In before the "Below Above The Law" guy
PE and JE probably say this is a non-peer and non-preeminent firm unworthy of comment.
How you like me now?
This sucks. Good luck 3L's.
When did Baker & McKenzie change its name to Baker McKenzie?
Er...recent grads.
-7
4 - Please, it's in b4.
m00bs or GTFO!
Wow. At least other firms offered incoming associates a stipend to go away.
Will they still give out a coupon for a frozen turkey on Thanksgiving?
Here's a suggestion. Articles like this concern the fate of recent law graduates, but the majority of ATLs readers is comprised of practicing attorneys who view this article as a waste of time. How about dividing the site into 2 sections, one for attorneys and another for law students and recent graduates. You could call the site for students Before the Bar, or Above the Bar Junior.
Damn. They notify you that you're not needed by cutting off contact.
That's how people end short relationships in college, not how a business rescinds employment offers.
DOJ SECURE
I just love how firms that don't have enough work to employ their deferred associates always take great pains to assure everyone in every firm communication that they remain "financially strong."
Me thinks that the firm protest too much.
Deferred associates: You are toast.
Smart move by the tipster alerting ATL. No way BM might track them down when they are 1 of 12.
loved how Baker mackenzie used the term north america...are they including Mexico and Canada to bump up that 30 number even though the recruitment efforts are separate and distinct?
This is not surprising considering the NY office alone had a 40% drop in PPP last year.
has anyone heard from mayer brown on summer offers?
I am nervous about an asslobster nonoccurence.
nervous nervous
19- Skadden summer here. I heard from Mayer Brown on summer offers. They gave me one.
Awesome Paul Simon reference. I suspect that B&M incoming associates will not be the only ones listening to the sounds of silence.
Cannot believe ATL is behind on this story:
http://legalblogwatch.typepad.com/legal_blog_watch/2009/09/senate-hopeful-once-had-centerfold-spread.html
This post is addressed to Commenter #5:
You are correct--this non-peer and non-preeminent law firm is undeserving of my attention.
However, the article does inadvertantly remind us of one critical life lesson: you do not get laid off unless you are a slothful mongrel.
16 - I'd bet 6 of the 12 contacted ATL. I'd also bet that BM will recended all of them, but was going to do it anyway, so nothing lost by turning to ATL with the bad news.
Now if they turn into former Latham associates and complain on this site about how they have been more wronged than the other 15,000 law firm employees looking for work or the other 5,000,000 Americans in the same situation, then they will become pariahs like the former Latham associates.
Mayer summer here who hasn't heard anything yet
24 - disrespects hard working people.
Any word on which office this was?
24 - is exactly right
Did you forget the caption competition?????????????
How shiTTTy.
How much longer until we start seeing more January 2010 deferrals pushed back even longer or worse?
Call me a pessimist, but I really don't see the legal economy rounding back into form in the next 4 months. When are firms going to start panicking about all of these unnecessary additions to the payroll?
-January 2010 deferred associate who doesn't want his Christmas ruined
Further proof that most of us will not be starting in January....
Calls will start going out this week...
Mayer Brown hasn't uttered one single word to its SAs. Please investigate/harangue.
B&M is in no way going to survive this economy
should peeps start calling up firms and asking wtf?
Law school students should be very afraid. Anyone who just finished, or is in their first year of law school should quit now before they get too far along into debt. There will be no market for young corproate attorneys over the next five years.
Having worked at two AmLaw 100 firms, the higher-ups do not care about young attorneys at all.
4 = newfag
Was this the NY office?
12 - Rumor is that even partners at BM will get a coupon for a fresh Turducken this year, but there will be no asslobsters, not even for equity partners.
Fuck!!!!!!!!!!!!!!!!!! This reminds me of when the deferrals first started -- one firm announces and the rest follow like lemmings. I expect that most firms with Januart "start dates" will start calling members of their incoming class within the next couple of weeks.
If anyone from a firm is listening -- please, for the love of g-d, get it over with and call us already. We all know it's coming, so put us out of our misery!!!!
Am I the only one who thinks the Kinney Recruiting guy is a lot cuter without glasses?
All you deferred assholes out there, this is what awaits you. Getting paid real money to do nothing. Not bad for a bunch of losers. Soon, soon now you'll actually have to find something real to do for your money. Get ready, because the shit side of the sandwich is about to reach your lips.
Agree with 36. Get out while you still can if you have any other conceivable option (dad's company, family connection, prior career, science/engineering background, etc.), unless you're 100% sure that you want to work as a government lawyer (but remember that those jobs are now exponentially harder to get than they were just 3 years ago).
To those deferred or also laid-off: Suck up your pride and take anything you can get.
Poorly handled by the HR and recruiting dep'ts
Classless really. And the summers get nothing for the next four months. This is essentially a severance, and a crappy one at that. The firm is just dangling these poor kids along, instead of manning up and giving them 60K up front and telling them best of luck.
And the simpleton comment is right. From what I hear, she spends more time trying to make besties with the summers and running a gossip mill than actually doing the job her daddy helped her get, a job that hangs as a dead weight on the firm and caused some resentment regarding the cheap lunch budget, one-meal-a-week policy, and half-assed firm events. It's all my roommate bitched about all summer.
Isn't there some legal theory under which the firm could be estopped from doing this?
13 - If you think most of the readers of ATL are practicing attorneys you are either not very bright or simply not paying attention to the same comments you are posting in. The large majority of ATL readers are law students (or law school applicants) who know nothing about the legal profession they didn't read here or on Vault, pretend to be knowledgable to impress other anonymous internet posters, and couldn't get laid in a Thai whorehouse. This sort of story is aimed precisely at these schmucks, which is why they probably get the most views and Ellie keeps putting them up. I'm honestly kind of shocked that there's anyone who doesn't know that.
So what did Baker do to this year's summers? Since they apparently want to start the class of 2009 in mid-2010.
I don't know how Baker (New York office, at least) has managed to keep their slide so quiet. The partners essentially begged us not to go on ATL and report on what has been going on for the past 9 months here in NY. Apparently, that works.
The NY office has had 3 rounds of lay-offs: December, January, and April. This reduced the associate body by 1/3 and we STILL don't have enough work even with 40-something associates to 60-something partners.
Further, Baker froze pay, reduced some associates to a fraction of their regular pay (but did not really reduce their in-office time), let go or demoted national partners to "of counsel," shortened the summer class by several weeks, and now is screwing the incoming class. As far as we've heard, the 2009 class haven't received offers yet, either.
What a mess.
I don't know how Baker (New York office, at least) has managed to keep their slide so quiet. The partners essentially begged us not to go on ATL and report on what has been going on for the past 9 months here in NY. Apparently, that works.
The NY office has had 3 rounds of lay-offs: December, January, and April. This reduced the associate body by 1/3 and we STILL don't have enough work even with 40-something associates to 60-something partners.
Further, Baker froze pay, reduced some associates to a fraction of their regular pay (but did not really reduce their in-office time), let go or demoted national partners to "of counsel," shortened the summer class by several weeks, and now is screwing the incoming class. As far as we've heard, the 2009 class haven't received offers yet, either.
What a mess.
I suspect many firms will follow along. Frims were being optimistic and others were just trying to let the 3Ls do some bar studying without having to think about the job market by telling them that they would start in Jan. Now it's coming down. Firms like D&L, Mayer, Paul Hastings, and White Case will be next.
I just had my second BM of the day. Everything seemed fine.
49, was this tip about the 12 of 18 redeferred incoming associates for the NY office?
24 - ON POINT
nooooooooooooooooooooo
Any news on Mayer Brown and when the offers (or non-offers) to SA's are going out?
50 is dead-fucking-on. Firms picked a random date out of a hat, hoping that work would magically pick up in time. Well, dealflow is still DEAD, and firms have no need for new blood for the forseeable future.
The firms need to notify people ASAP that they will not be starting in January. They are really fucking with people's lives by stringing them along.
No word from MB Chicago yet
No word from Mayer Brown Chicago yet, and the natives are restless.
No word from Mayer Brown Chicago yet, and the natives are restless.
How come no Posts on Akin Gump layoffs????
look into it ATL
Agree with 55
Also, 5k seems exceedingly cheap, these are firms with hundreds of millions if not billions in revenue and costs, they are essentially saving $160K+ per each summer, the least they could do is allocate a fractional increase in these savings to the probably screwed 3L & Post-Ls.
$20K - 40K would make almost zero difference in the bottom line, but would make a big difference to these 3Ls & Post-Ls and would buy them time to get back on their feet.
If a fucking hiring partner calls me to "extend my deferral", I will go absolutely ape-shit on him. Like it wasn't obvious 6 months ago that these mythical start dates wouldn't hold?
I will literally tell them to fuck off. I don't want their scraps.
Mayer Brown is a shit pile. Why would you even summer there? Don't do biglaw if that's your option.
Really, just go look for other jobs - these firms cannot be trusted.
http://www.stupidrightwingers.com
I think they mean $5k per month for 6 months, so $30k
62 no you wont...lets be real...you will gladly take the scraps and ask for more....not because you want to ...but on the real...what are your options?
I'm nervous about Walruses.
The Troubled Twelve just sold their souls to the company store - a $5,000 per month option for six months beginning 1/1/10. You could make more per month pole dancing - whoops, I forgeot, that was under the Bush economy.
My midlaw firm did not defer our incoming first years, they are arriving on monday and all the current associates are scared sh*tless. We barely have enough work to go around right now, there is nothing for these new associates to do and no one is going to share.
We'll see how long they last after a couple of months of 50-100 billables.
F*ck this firm. This is bullshit to do to their summers.
69, What city?
61 - Do you think they give a damn? PPP dropped 17% last year. All they care is their Int'l Partners' income.
44 is exactly on point. B&M will continue to to string summers along, use stealth firing tactics and any other measure to avoid bad publicity.
65 - this is crucial. Are they giving 5k per month, or 5k total? If its 5k total, then there is a huge difference between those people from Weil/Skadden et al who get 60-75k for the year deferral, and the B&M crowd.
NEW RESUME LINE: DEFERRED ASSOCIATE, 2009-2010.
71 - New York
-69
has anyone gotten their stipend? aren't they suppose to be going out now... i hear milbank was suppose to be mailing them out soon
69,
What type of work do you do or firm name? Thxs.
Does anyone get sick of how full of shit these firms are? BM is financially strong....they just don't have any work to give the new associate class. Bracewell Giuliani is financially strong and hasn't laid off anyone (oh, except the fifty or so associates they cut last December). Vinson & Elkins hasn't had any layoffs, they have had a record year (please turn your head and ignore the 60+ that have been shown the door in the past year)....and on and on. I guess this is all part of the firm's PR concept that if you always talk about how strong you are, people will believe it. My biglaw firm cut a dozen transactional attorneys (eight of whom were top billers) and released a press release the next day announcing how strong the firm was and that they had record profits. It is all a joke.
ATL start a tred on stipen payments
That was helpful 63. Thanks.
68 is correct. Skin trade is way down this recession.
72:
Perhaps, but that's absolute shit. There's a scale of self interest, and to soften the blow to these summers would only fractionally move the scale for the partners, if at all.
61's point is that not all decisions should be (or necessarily are - remember the firms that are sharing the pain to save associate jobs) made on reputation or immediate financial self interest.
Partners do the right thing
only 8 summers from the current B&M summer class class in NY got offers
Did we all forget that Mayer Brown asked for some deferred summers to start early 2 weeks ago? Way for everyone to read one doom's day post and assume there armageddon.
84:
What we haven't forgotten is that Mayer Brown hasn't had the decency to communicate to its summers ONCE about the offer situation.
85,
I'm not defending MB or their non-communication with summer's, but note it is only mid september. Now if It's October and you haven't heard anything then it's royally fucked up. However, now it's simply approaching the getting a little late territory.
Just because other firms have communicated offers does not mean not hearing anything yet is horrible news. Hell, with the low offer rates abounding, maybe the firm waiting to tell you is not bad?
Could be bad, could be great. Just don't worry about it. Nothing you can do about it. Besides, it's not like a start date/offer means anything anyways. Just look at how many of the class of 2009 got screwed, deferred, offer revoked, firm collapsed, etc.
Keep your head up.
69,
I think the better statement would be:
We'll see how long YOU last after Partners slowly start assigning your work to the newer, cheaper associates.
5-6 months should be enough time for them to get a grip on what they are doing. Laying off a midlevel (or even a 2nd or 3rd year) is better for PR's sake than laying off a first year.
We. Are. So. Fucked.
Now the gloves are really starting to come off. Any firm that re-defers has ZERO class. Spare me the sense of entitlement BS -- this is just poor plannng and piss-poor management.
Latham felches donkeys.
Never forget - they started this whole f---ing thing way back when, they did it the biggest and worst this round, and they'll keep doing it as long as there are suckers to interview there.
Latham. Layoffs. Donkey felching. Remember.
Any word on MWE?
87- Touche. Perhaps it is time to start dusting off the 'ol resume.
As well as my copy of Bartending for Dummies, just to be on the safe side.
-69
Any word on Cahill layoffs?
Any word on Schulte Offers?
I'd like some fries and a diet coke with that, thanks.
how many summers got offers in K&L's seattle office?
Mayer's official start date is Jan 2010. However word on the street is that they have since called most people and had them "voluntarily" push bad their dates.
When did B&M New York offers go out?
B&M is lying. They have rescinded offers in the US for the Class of 2009 and have laid off a number of associates and partners. Sure the firm is financially strong - as long as partners can still make their payments on their Central American plantations, then everything is good.
So...the bigoted, elitist Young Republicans who post here are finally figuring out that the heroes you worship don't give a rat's hindquarters about you.
It's nice to see you finally come around to reality.
George Costanza: "Do I have to break-up with her in person? Can't I do it over the phone? I have no stomach for these things."
Seinfeld: "You should just do it like a Band-Aid. One motion -- right off!"
48, I'mma let you finish, but Baker & McKenzie is one of the best firms of all time!!
Wait, now ATL is doing posts about russian bakers?
96 - How does that make any sense given that MB was asking incoming associates to start early like two weeks ago?
We are now reaching a breaking point. Firms can't really wait much longer if they are going to re-defer. In the next couple of weeks, I suspect we will see most of the action. And it won't be pretty. Whereas before we had some hope that we would start, once we receive that call from our friendly neighborhood hiring partner telling us that "we are unable to bring you on board in January," all hope will be lost....
What should we think about firms that have not yet communicated to their summers about offers?
Good news or bad news?
I tend to think bad news because it’s unlikely that something in the economy is going to happen to change their outlook. It almost seems like they’re trying to see what other firms are doing to see what the lowest offer rates are that they can get away with.
Another firm pulls a McDERMOTT WILL & EMERY. Go figure.
if I were an incoming BM associate, I would tell them to lick their fucking grundle.
103: Firms can definitely wait longer. In fact, they can bring you on in January and then fire your ass within two months of hiring. I speak from experience. The firms don't give a fuck.
107 - Obviously what you say is true in theory. But keep in mind that it does not appear that the economy is going to worsen over the next few months. I don't expect we will see growth any time soon (in contrast to what CNBC has been saying over the past few days), but we won't see anymore contraction in either the real or legal economy.
Keeping the above in mind, why would firms wait until the last minute? Nothing is gained by doing this; on the contrary, it will reflect even more poorly on the firm. No, their window is right now. If a firm doesn't re-defer before, lets say, October, they will start the new crop in January.
A lot of firms are deferring and now giving money to tell these kids to go explore other opportunities. Truth be told, this is not a contract and they don't really have to give anything. They are, so that shows good faith. However, they are being unfair because they knew about this months and months ago and did not say a word until now. They are hoping for things to pick up? They knew it wasn't going to pick up enough to flood them with enough work to keep all their employees busy, let alone bringing in a new class of first years and keep them busy. Hopeful or scared? Which were they?
Layoffs all over are happening quietly in all firms, all big firms no matter what you see or don't see, no matter what you hear or don't hear they are happening under your nose. Many firms have brought partners down to "of counsel" level. They just don't want anyone to know what a financial mess they are in. Don't tell me that one, two, three rounds of layoffs, equity partners being asked to leave, partners being asked to step down to "of counsel" status, cutting salaries, and all the other "cost cutting" measures they have done and still are doing did not help? I'll bet it hasn't helped or they would not still be taking all these drastic steps. They are grasping at straws now. Rememer, they lie through their teeth. They say all is fine, all is good, but all of the cutting they have done to me doesn't show "solid financial ground". It shows what a very BIG mess they are in and they floundering to keep their names off of sites like ATL. They cringe at all these comments because they know it is true. . Idiots.
Kids...take the money and walk, you have no other choice. As for waiting on offers, don't hold your breath, you will turn blue first.
Good luck.
Which BM office was this?
If George Bush didn't hate black people none of this would have happened.
111: Actually, if Ronald Reagan hadn't invented AIDS to kill black people none of this would have happened.
108: just bc something doesn't make any sense, doesn't mean law firms won't do it. It's human nature to put off difficult actions if you can get away with it. And law firms can get away with it in this economy. Moreover, starting in January only means it will be that much bigger of a blow when the firm lays those first years off within 6 months, with less severance.
According to going "market", it's $65k to not hire a 3L. But only $36k (3 mths severance) to lay off a first year. Does that make sense?
110 - it has to be NY. Definitely was not firmwide.
Curious why Partner Emeritus has not made an appearance lately. Has he been laid off?
Has there been any word about whether Latham will have layoffs this year?
50- "Firms were being optimistic and others were just trying to let the 3Ls do some bar studying without having to think about the job market by telling them that they would start in Jan."
Yeah... thanks for duping me into studying for and taking the CA bar while I was back home in Indiana. I really appreciate you withholding from me that I don't actually have a high paying job waiting for me in CA and that maybe I should have taken the Indiana bar where I have an affordable apartment, family, friends and at least the possibility of employment.
Please don't tell me now either, give my wife a chance to quit her job so we can relocate and sign a lease in LA... then and only then should you, with a heavy heart, tell me the unfortunate news.
113 - You make a fair point about the cost analysis involved. But you ignore the costs associated with starting the new crop in January -- e.g., relocation costs, healthcare, training, laptops, blackberries. No, it's cheaper to pay us $65k to go away.
117 - I agree with you 100% and can empathize with your situation, especially as it relates to the taking a bar other than that of your home state. We just need to face reality: our firms fucked us beyond belief. At least you're married, though. How the fuck am I going to find a mate when I've been "deferred" into oblivion? Seriously.
118 -- deferred = kind of hot.
What's the deal with Baker's partnership structure? What is this about international partners and national partners? How are all the 50 or so office in Bumfuckistan managed? Is it just some "local" "affiliation" and they let them use the name, or what?
http://www.youtube.com/watch?v=9YD3zN-Uk_s
From a summer associate to Mayer Brown:
http://www.youtube.com/watch?v=b_ILDFp5DGA
Any word on Proskauer??
Any word on Proskauer??
Any word on Proskauer??
If you don't see the other shoe about to drop, you're being willfully blind. The only incoming associate that are safe are those that are starting in the next month. And even then, unless you're in a Dirker Biddle or Howrey training program, you've got a couple of months to prove yourself. Firms are going to do this because they can - I'm sure a lot of them will be shallow enough to do it after the current 2Ls accept their offers. October/November is deferral severance season.
It's going to be a shit storm this fall for everyone. And I mean everyone.
I suppose if I was pure evil I would wait until the bar results were released. Fire anyone who failed, and then have a better sense of how many new bodies we will have to bring in....or not.
I moved from New York to Hong Kong to join Baker last year. I don’t know who Baker is still “financially strong”. The greater China offices (Hong Kong, Beijing, Shanghai) have already had 2 rounds of lay off this year and salary cut of 15-20% across the board. Everyone is paying for the oversized new Hong Kong office!!!
I moved from New York to Hong Kong to join Baker last year. I don’t know how Baker is still “financially strong”. The greater China offices (Hong Kong, Beijing, Shanghai) have already had 2 rounds of lay off this year and salary cut of 15-20% across the board. Everyone is paying for the oversized new Hong Kong office!!!
127 - could you elaborate? We already know the deferred are going to be re-deferred, but who else will take it in the ass?
This is in response to the whining poster who identifies himself as "Deferred for Life." You are nothing more than an inconsequential drain on the profits of whatever firm it is that you once held an offer to join; I'd like to personally remove your trousers and deliver a firm spanking to your buttocks until this point is sufficiently driven home.
Be careful PE, or "Deferred for Life" will pull-off that adult diaper you've been relegated to and give YOU a spanking.
Another unfortunate victim of the recession is senior partners, who despite everything they've done for their firms, are being pushed out the door due to their ripe old age. Sure, a few, who are still relationship partners with a major client, are being kept around for the interim, but PE's constant presence on ATL assures that he has no clients himself to speak of (well, that, and the fact that he's a 2L).
@13, here is a suggestion. Just skip the story (and don't bother commenting) if it is a story that doesn't pertain to you or in which you are not interested.
I must say I come to this site just to see PE's comments,
And those in response to PE. 133 - Hilarious and on point!
109 - excellent comment. Tells the whole story. Everyone's focused on not getting offer or losing jobs. Stand back and look at the bigger picture. In 2010 we'll see a number of major firm dissolutions. B&M for one is a dinosaur. They will break up. Firms have already cut down to the bone. Soon, you'll see partners fighting to maintain their piece of the shrunken pie. The changed economy and partners' undiminished greed will end quite a few firms.
118 - I would think that this might be the best time of your life to find a mate -> you wouldn't have a chance to be out there dating if BigLaw had you chained to your desk already...
$5K/month and it was NYC
109 and 135 Any thoughts re: which firms will dissolve in 2010 ?
As a Latham layoff-ee, I am still conflicted on their fall from 7 to 17. Should I worry that this makes me look even worse in retrospect to future employers? Or should I grab the Schadenfreude with both hands and be glad that the firm that handled me so roughly has paid for its shenanigans?
I just got an offer from Baker! Those who worked hard have been rewarded. Believe me, Baker values GOOD, SMART and DIVERSE people.
I just got an offer from Baker! Those who worked hard have been rewarded. Believe me, Baker values GOOD, SMART and DIVERSE people.
This firm is terrible. Look how management lies and treats people. I would never want to work for them. "If after June, no call from b&m, “the relationship will end.'" They're just pathetic.
DIVERSE?
are you black?
139
Latham's collapse only helps the Latham laid-offs. The more people realize Latham mgmt is comprised of a bunch of bungling fools, the more people will realize that your layoff is Latham's bad.
I heard from MB on Friday. They told us in the summer that we would hear from them last week. No surprises there. Upfront communication about the timing and they followed through.