Patton Boggs, the once heralded D.C. lobbying firm, has been in trouble for more than a year now. It all started in March 2013 when the firm conducted significant layoffs, and things continued to spiral out of control from there. Additional layoffs followed, flanked by fleeing partners and the closure of the firm’s Newark, New Jersey, office. Profits have plummeted, so much so that Patton Boggs hired the Dewey & LeBoeuf turnaround team of financial advisers Zolfo Cooper and bankruptcy attorney Al Togut. Things certainly aren’t looking very good for the firm, even though managing partner Edward Newberry claims it’s all lollipops and unicorns over there.
Admittedly, first Newberry was afraid, he was petrified. He thought Patton Boggs could never live without cash by its side. But then he spent so many nights thinking how his firm went wrong, and he grew strong. He learned how to get along. His firm will survive — “healthy and profitable” — the same way all floundering firms do: additional layoffs are making their way down the pipeline, and it’s partners’ heads that will roll.
How many partners will have to find new homes? Let’s find out…
Years ago, I heard the frustrated 60-year-old head of an IP department at a big firm complain: “Aren’t there any other IP lawyers at this firm? Why do I have to decide everything?”
The problem, of course, was that his subordinates were on the wrong end of the pushmi-pullyu: They were pulling the senior guy back instead of pushing him forward. My sense is that the average lawyer, either at a firm or in-house, suffers from the same affliction: The average lawyer stands at the . . . er . . . back mouth of the beast.
I recently published a self-assessment test to help you learn whether you were a bad litigator. I’ve cleverly designed another self-assessment test, this one to gauge whether you advance the cause or obstruct it when you work on a legal matter. Here’s the test:
Look at the last email that you sent reporting on a legal development and seeking guidance on the next step forward. How does that email end? For many of you, the last sentence includes one of these two phrases, which prove that you stand at the pullyu end of the beast . . .
* Dewey know who Zachary Warren is? Per this failed firm’s insiders, he seems to be a “man of mystery” who apparently worked in the “bowels of the bureaucracy” that ultimately led to D&L’s demise. [Am Law Daily]
* “You can cross-examine the witness. You can’t cross examine an email.” Defense of the Dewey defendants may be tough when it’s time for trial — and you can bet your ass there’ll be a trial. [New York Law Journal]
* Fear not, friends, because Patton Boggs has found a way to weather the storm. It’s the same way most barely buoyant firms stay afloat: more layoffs. Expect more on this news later today. [National Law Journal]
* Paul Ceglia, the man who claims he owns half of Facebook’s fortunes, can’t toss his criminal charges. Sometimes wheeling and dealing with allegedly faux contracts will land you in the clink. [Bloomberg]
* Because no father wants to see his daughter become “tabloid fodder”: Rachel Canning, the New Jersey schoolgirl who sued her parents, is being “savaged” by the public. Aww, poor little Millennial. [Daily Record]
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
The average tenure for a Biglaw partner is 5.2 years. 5.2 years! If your last lateral move coincided with the death of Michael Jackson, then there is a strong likelihood that you will be on the move again soon. To those outside of the legal world there is a general incredulity as to why attorneys move so often and whether firms are really that different. But alas the Am Law 200 is not a stamp of approval and the quality of Am Law firms greatly varies (and does not linearly correlate to Am Law ranking).
There are a multitude of reasons that attorneys leave and the entirety cannot be covered by a single list, but here are the most popular reasons why attorneys make lateral moves…
As any practicing lawyer learns within about a week of beginning her career, the concept of the work/life balance is sort of a fiction. Practically speaking, there simply aren’t enough hours in the day to achieve any sort of actual, equal balance between your life and your work. Think about it: assuming you spend at least ten hours at work each day and seven hours asleep, this leaves only seven waking hours to accomplish everything else in your life — feeding yourself, commuting, spending time with your family, brushing your teeth, exercising, reading Above the Law, and pursuing other hobbies, like making crayon drawings for your office.
Although seven hours sounds like a lot of time, we all know that it goes by way too fast. At least for me, after I have taken care of my major life necessities, I only have about an hour left over at the end of my day to enjoy my “life.” Sadly, this time is usually spent complaining about the fact that I have to go to work the next day and do it all over again — is there no rest for the weary???
Biglaw partners from international firms don’t like to lose cases — especially not to solo practitioners. Biglaw partners think they own the world, and to lose a case to a lowly solo practitioner would likely bring shame to their firm and force them to commit ritualistic seppuku-style suicide in an attempt to regain their lost honor. (No offense, solos, but we imagine Biglaw partners’ horses are quite high.)
Watch out, solos, because you’ll get absolutely no love from Ho-Love if something like this were to happen. You might get stepped on — literally — and even get slapped in the face with a briefcase…
Criminal charges are on the way for Steven Davis, Stephen DiCarmine, and Joel Sanders — the former chairman, executive director, and CFO, respectively, of defunct Dewey & LeBoeuf.
Almost two years have passed since the Biglaw firm’s bankruptcy filing, causing some observers to think that perhaps the Steves would never get charged. The argument, in a nutshell: they might have been poor managers or even downright moronic, but they didn’t commit any crimes.
Alas, sadly for Messrs. Davis, DiCarmine, and Sanders, it seems that Manhattan District Attorney Cyrus Vance doesn’t agree with that line of thinking. What types of charges can the trio look forward to?
(Please note the UPDATES added to this post, reflecting information from the indictment and the SEC complaint.)
Following the publication of my initial column, I received scores of emails from polite job-seekers with specific questions about their current employment situations. While I am not able to reply to all of the notes, I can offer some guidance to assist the majority of these job-seekers.
Insider tip: Biglaw firms tend to avoid hiring candidates who have strayed off of the traditional path to Biglaw firm employment. Such “rogue” candidates make the recruitment committee nervous, and any candidate who makes the committee nervous will not be advanced in the process. If you want to work in Biglaw, get a job in Biglaw during your 2L summer. If this is not possible (because you did not land a job in Biglaw or you have already graduated), get a job at a small- or medium-sized private firm in the exact practice area that you hope to work in when you make the jump after a few years to Biglaw. Clerkships are fine, but law firm experience in your desired practice area is the ideal. Also, of great importance, you MUST do well in all courses related to your practice area of choice. If you received a C in Securities Regulation, it will be a hard sell to land a job as a securities lawyer at a large firm.
What are some other factors that will make the recruitment committee uncomfortable?
Albert Togut: man with a plan (of reorganization).
Maybe the floundering firm of Patton Boggs can actually right itself. It doesn’t have the Biglaw mark of Cain, namely, a name that lends itself to bad puns — e.g., Dewey and “do we,” Howrey and “how are we,” and Thelen (rhymes with “feelin’”). In hindsight, Patton Boggs did the right thing when it dropped George Blow’s name from the marquee and went from “Patton Boggs & Blow” — a name we would have had a field day with — to simply “Patton Boggs.”
(Yes, Patton Boggs has some pun potential. But there are only so many “bogs down” and swamp-related plays on words to be had. Yes, even for us.)
Luckily, for the time being we can use some “Dewey” puns. Because Patton Boggs, for whatever reason, is using all of Dewey & LeBoeuf’s old advisers….
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.