Davis Polk

ATL March Madness: The Coolest Law Firm Elite Eight

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We will have a new winner in this year’s Coolest Law Firm contest. When Above the Law first ran this bracket back in 2008, you picked Latham & Watkins as the victor. This time around, they got… Lathamed, in the first round. Cravath crushed Latham by a 60% – 40% margin. That was the second-highest margin of victory among all of the first-round match-ups.

So, for those playing along at home, paying a spring bonus is “more cool” than not paying a spring bonus.

As we move into the Elite Eight, some of our readers are asking us to give a more clear definition of what is “cool.” We respectfully decline to do so. It’s up to you to tell us what makes a top law firm cool. Is it job security, making maximum bank, prestige points? It’s really up to you. Personally I think the coolest law firm would be the one most likely to represent bad-ass clients on the correct side of moral issues, but… eeek, that’s not really what Biglaw is all about.

So bring your own prejudices to the table when you vote in the next round of the Coolest Law Firm Tournament. Use whatever reasoning makes sense to you. Just don’t go with chalk because you can’t be bothered to actually form an opinion — don’t be boring, son….

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Morning Docket: 03.09.11

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Gov. Pat Quinn

* The opening of the RaJabba Rajaratnam trial will be gripping, apparently. [Reuters]

* The S.E.C. is being attacked again about its ethical standards. It’s not like these problems started with Cam Newton. I mean, the S.E… what’s that? The Securities and Exchange Commission? What? No, I don’t even know what that is. What does that have to do with football? [New York Times]

* Horrifying syphilis experiments keep coming back to haunt the United States government. That’s so syphilis. [Charlotte Observer]

* Illinois Governor Pat Quinn is expected to sign legislation today ending capital punishment. I couldn’t think of a joke here, but this cat thinks it’s a frog. [Chicago Tribune]

* In Buffalo, a fight over attorney pay. I blame Norwood. [Buffalo News]

* A judge helped cut an attorney out of his father’s will and claimed he was still able to act impartially on a case the attorney was handling. That sh*t-eating grin on the judge’s face every time the attorney spoke? Oh, that was just a joke he remembered. [WSJ Law Blog]

* Former U.S. attorney (S.D.N.Y.) and Davis Polk litigator S. Hazard Gillespie, R.I.P. [New York Times]

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Associate Bonus Watch: Skadden Matches the Cravath Spring Bonuses!

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This shouldn’t come as a shock: Skadden is paying spring bonuses. And it’s doing so on the top-of-the-market Cravath scale. Yay!

According to a memorandum sent to the Skadden Arps partnership by email this morning — before 8 a.m., so prior to the Davis Polk announcement — the firm was originally planning to match market for the most junior ($2,500) and most senior ($20,000) associate classes. As for mid-level associates, it was going to split the difference between the Cravath scale and the Sullivan & Cromwell scale: “We are planning a mid-level associate bonus range which is somewhat higher than the general pack, but not the highest levels currently announced.”

But then came the Davis Polk announcement, at around 10:30 a.m., in which DPW went with the Cravath scale. And now Skadden has too.

Did the Davis decision change the thinking at Four Times Square? Let’s look at the memos….

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Associate Bonus Watch: Davis Polk Matches the Cravath Spring Bonuses!

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The venerable and aesthetically pleasing law firm of Davis Polk has decided to join in the springtime bonus party. They’ve just announced their spring bonuses — and they’re matching the generous Cravath scale, not the Sullivan & Cromwell scale (which is slightly lower for more-senior associates).

Congratulations, DPW associates. It may have taken a while — perhaps the firm’s management reshuffle news delayed the announcement? — but good things come to those who wait.

Memo after jump.

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Kirsten Gillibrand: ‘This One Time, at Band Camp Davis Polk…’

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In today’s New York Times, there’s an interesting profile of Senator Kirsten Gillibrand, who replaced Senatrix Hillary Clinton in the U.S. Senate. To be honest, despite my weakness for high-powered women with gold-plated credentials — Gillibrand’s résumé features Dartmouth, UCLA Law, a Second Circuit clerkship, Davis Polk, and Boies Schiller (where she was a partner) — I’m not a huge Gillibrand fan.

If you’ve ever heard Gillibrand speak, you can understand why her congressional peers nicknamed her Tracy Flick. She sounds like a super-perky high school president, not a United States Senator. She has no gravitas. She occupies the Senate seat once held by Secretary of State Hillary Clinton, but Kirsten Gillibrand is not fit to kneel down and remove Hillary’s kitten heels.

Anyway, enough ranting. The NYT profile of Gillibrand, despite its occasionally fawning tone, is worth reading, due to some fun tidbits about Gilliband’s stint as an associate at Davis Polk….

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Associate Bonus Watch: Davis Polk Matches Cravath

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Bonuses have just been announced at Davis Polk. The firm has decided to match the Cravath scale.

This may be disappointing, but it honestly shouldn’t be shocking. Davis Polk may be a market leader when it comes to beautiful offices or beautiful associates, but historically it has been cheap hasn’t led the way on associate compensation.

Despite the lack of surprise, early reactions to the DPW bonus news seem… unfavorable. It’s not normal to see a Davis Polk lawyer use his or her temper, but some associates are clearly upset.

Let’s check out what they have to say, shall we?

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A Look at New Partner Classes at Ten Top Firms (and an Open Thread)

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Partnership: the proverbial brass ring.

‘Tis the season — for new partner elections at large law firms. Although there are some exceptions, most firms pick and announce their new partner classes around November and December, with partnership effective on January 1 of the following year.

These partnership announcements sometimes contain interesting information, if you read between the lines. As we’ve previously observed, “Partnership decisions often shed light on the current state of a firm, its prospects for the future, and its priorities. How many new partners did a firm make? How does the number of new partners this year compare to past years? In which practice areas did it make new partners? How many of the new partners are women or minorities?”

After the jump, we look at new partner news from ten top firms — perhaps you know some of these law firm superstars (and soon-to-be millionaires)? — and we invite you to discuss the new partners at your firm….

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Legal Eagle Wedding Watch: Green Day

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First, a couple of notable non-legal nuptials: Kelly McGillis (of Top Gun and Witness) married her long-time girlfriend. Short ceremony, long write-up.

There’s also perhaps the most painfully stylish wedding we’ve ever come across. The bride is the daughter of modernist architect Richard Meier, who keeps his homes “very relaxed and casual but everything has to be perfect” — “[e]ven the Snapple bottles are lined up perfectly in the pantry.” (Oh . . . so not really relaxed and casual at all.) Watch the slideshow of the uber-posh wedding, and take note of those origami flowers; you’ll be seeing poorly executed versions in weddings near you for the next few years.

Now, our legal eagle couples. Here are the finalists:

1. Nicole Moen and Michael Skoglund

2. Jennifer Ain and Russell Lippman

3. Anne Green and Leonard Braman

Marvel at these couples’ résumés, after the jump.

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Pls Hndle Thx: Family Friendly, Lesbian, Liberal – Is There a Firm for That?

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Ed. note: Have a question for next week? Send it in to advice@abovethelaw.com

ATL:

I am a 2L at Columbia and I am deciding amongst Cravath, Davis Polk, Debevoise (Elie should chime in now), Paul Weiss, and Sullivan & Cromwell.

I am getting married in December so I would love to work at a family-friendly firm. Like Elie, I’m a raging liberal, and I heard Paul Weiss seems to fit that bill. On the other hand, I want to be at a firm with plenty of lovely women. I am bi and my soon-to-be hubby doesn’t mind if I taste a woman’s sweet nectar. Plus I simply cannot live without a pair of supple breasts in my life. (My man is ripped so no manboobs for me.) I met many cute associates at Davis Polk too and I remember an ATL article that mentions the great number of hotties at DPW.

So many choices! Can you help me out?

– Paradox of Choice

Dear Paradox of Choice,

Nice try, but this question’s a flame because nobody uses the term “sweet nectar” unless they’re (1) referring to the drink Odysseus used to get the Cyclops drunk and poke his eye out, or (2) a copywriter at Cosmo. Nevertheless, we’ll answer it because it’s slim pickings around here this week, and it’s better than another snooze-alert “should I quit law school?” question.  Of course you should quit law school. Don’t be ridiculous.

Let’s break down these firms…

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Who Represents Corporate America?

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Now this is a list that matters. Corporate Counsel (an American Lawyer publication) has complied its annual list of the firms that Fortune 100 companies use as outside counsel. This is a list of which firms are getting work from clients with deep pockets. If you care at all about the business end of the law, then you care about this list.

And while the firms that are tapped for this kind of work won’t surprise anybody, it’s always good to take a look at who clients want to be with.

For general corporate law, these are the firms that were mentioned most by clients reporting to the magazine:

Cleary: 12 mentions
Davis Polk: 11 mentions
Cravath: 10 mentions
Simpson Thacher: 10 mentions

Yep, no real surprises there.

But what about some other practice areas? Well, the names start to change…

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