Latham & Watkins

Latham Lathams Accrued Vacation

By

In a move that can best be described as cheap, Latham & Watkins joins a growing list of firms that will not allow associates to accrue vacation time. Why would a firm deny its associates the opportunity to get paid out for unused vacation days when they leave the firm (voluntarily or involuntarily)? Because it saves them money, of course.

I suppose Latham could have put it this way: “We’ll no longer honor accrued vacation time because we don’t want to be on the hook for extra paychecks after we s***can you.” But where’s the fun in that? Instead Latham tried to sell associates on the idea that its change in vacation policy would allow associates to take unlimited vacation days.

Latham associates weren’t fooled by the memo. Check it out and see if you would have fallen under the spell of spin …

double red triangle arrows Continue reading “Latham Lathams Accrued Vacation”

69 Comments

Associate Bonus Watch: Baker Botts – Houston
(And other Baker Botts / Houston law firm news.)

By

2009 Associate bonus watch above the law.JPGMarch is almost over (and tomorrow is the official start of spring), but law firm bonus news continues to trickle in. Yesterday, for example, we covered Mayer Brown. Today we bring you Baker Botts (Houston).

As far as associates were concerned, it was about time:

Baker Botts in Houston finally announced bonuses for 2009. People were getting very upset about how long it was taking, and the partners were very aware of that fact.
For the most part, bonuses were slightly higher than most people were expecting.

Perhaps Baker Botts can afford to be generous; work is definitely coming in the door these days. The firm is representing Dominion Resources, which is being acquired for $3.48 billion by Consol Energy, and Schlumberger LTD., which is merging with Smith International. And Baker Botts has been raking in big bucks from bankruptcy work too.

So, how big were the Baker Botts bonuses?

double red triangle arrows Continue reading “Associate Bonus Watch: Baker Botts – Houston
(And other Baker Botts / Houston law firm news.)“

50 Comments

Skadden Sets the Pace for Start Dates and Salary Advances Instead of Stipends?

By

start date 3Ls ready for Biglaw start dates.jpgClass of 2010 graduates with offers in hand want to know when they’ll have firm-issued BlackBerrys in hand too. Last week, we had an open thread on start dates for 2010 graduates.

Shortly thereafter, we heard from Skadden-bound associates. They’ll be starting in the new year, and they’ll have some money to keep them afloat til then. But it’s money from their future earnings:

[Skadden] says “start date and orientation in mid-January 2011.” No stipend — just 15k salary advance — 5K in April, rest with receipt of final law school transcript. Repaid out of first year salary.
Honestly, I was hoping for more…

Skadden is a market leader. Does this mean stipends are no longer in fashion? Sorry, 3Ls, money for doing nothing is so 2009.
UPDATE: We’ve noticed some confusion in the comments. We’re not talking about the bar stipend; we’re talking about the deferral stipend for January start dates. If you look at our 2009 round-up, you’ll see that many firms offered a $5,000 – $25,000 “deferral stipend” along with January start dates. (Last year was a different ballgame, though, with deferrals taking incoming associates by surprise. This year, offering salary advances instead of stipends might not be unreasonable.)

What’s the policy at other firms? Some firms, such as Sidley Austin and Milbank, are reportedly still offering stipends. A round-up, and more chatter from Skadden-ites, after the jump.

double red triangle arrows Continue reading “Skadden Sets the Pace for Start Dates and Salary Advances Instead of Stipends?”

48 Comments

Legal Eagle Wedding Watch: Couple of the Year! (Plus New January Couples)

By

Nyenke-Robinson.jpg
LEWW congratulates Caroline Nyenke and LaRue Robinson, who narrowly edged out Tracy Zuckerman and Ryan Van Grack in Couple of the Year voting to take the 2009 crown. Unfortunately, we have no trophy to award them, but maybe someone will be moved by this honor to buy Caroline and LaRue that cutlery set they still need.
On to our remaining January couples:

1. Chingwin Pei and Adam Pyonin
2. Emily Scharfman and David Menchel
3. Michelle Ko and Tony Wong

Read all about these lawyer newlyweds, after the jump.

double red triangle arrows Continue reading “Legal Eagle Wedding Watch: Couple of the Year! (Plus New January Couples)”

Musical Chairs: White & Case Regroups After Latham Raid

By

White and Case logo.JPGEarlier this month, we wrote about the departure of over a dozen partners from White & Case to Latham & Watkins (which is once again in expansion mode). These defections took place mainly in London and the Middle East, outside our usual geographic focus; but they were sizable and dramatic, and therefore worth covering.
Am Law Daily described Latham’s poaching of White & Case lawyers as “among the more spectacular lateral raids of recent years.” As reporter Richard Lloyd breathlessly wrote, the moves “raise[] serious questions about White & Case’s London finance practice, its position in the Middle East market, and its relationships with such important clients as Deutsche Bank and Saudi Aramco, Saudi Arabia’s national oil company.” In other words: the ship be sinking?
Well, not so fast. White & Case is rearranging the deck chairs taking decisive steps to beef up the offices that lost all that talent.

double red triangle arrows Continue reading “Musical Chairs: White & Case Regroups After Latham Raid”

29 Comments

Musical Chairs: White & Case Loses Lawyers to Latham in London

By

White and Case logo.JPGOur coverage of the London legal market tends to be episodic. We tried offering more regular coverage for a while, with our Letter from London column, but we put the feature on hold to focus on domestic developments. (We might revive the London column if we can find a sponsor for it.)
We will, however, cover major news out of London — such as last week’s massive defections from White & Case to Latham & Watkins.

double red triangle arrows Continue reading “Musical Chairs: White & Case Loses Lawyers to Latham in London”

17 Comments

Associate Bonus Watch: Latham & Watkins
(Great bonuses — as long as you hit your hours.)

By

2009 Associate bonus watch above the law.JPGAs we’ve discussed before, Latham & Watkins can be a bit bipolar. Sometimes the firm is in manic mode, expanding and hiring and paying very generous bonuses. Then it sinks into depression, replete with freezing salaries and large-scale layoffs.
Right now L&W seems to be in happy mode. In recent weeks, it has announced true-up salary raises and opened new offices (in Houston and Beijing).
And today, fulfilling the hopes of many associates, it announced bonuses. Very generous bonuses — big enough to induce survivors’ guilt.
So, how big are the Latham & Watkins payouts?

double red triangle arrows Continue reading “Associate Bonus Watch: Latham & Watkins
(Great bonuses — as long as you hit your hours.)“

155 Comments

Update: More Law Firms Help Out Haiti

By

Haiti earthquake January 2010.jpgOn Wednesday, we commended the firm of Paul Hastings for moving so quickly to support Haiti earthquake relief efforts. Since then, a number of other top law firms have pledged their support to this worthy cause.
(Okay, Rush Limbaugh questions the worthiness of the cause. But we suspect that Limbaugh’s position — like that of Pat Robertson, who blames the earthquake on Haiti’s supposed pact with the devil — is a minority view.)
The WSJ Law Blog and Am Law Daily have gathered information about what various law firms are doing to help Haiti. We’ve combined their reports with information we’ve received from our own sources, to create a more comprehensive list.
Check it out, after the jump.

double red triangle arrows Continue reading “Update: More Law Firms Help Out Haiti”

85 Comments

Latham is Expanding. Where Have I Seen This Movie Before?

By

Latham Watkins LLP lw logo.jpgLast week, we reported that Latham & Watkins officially raised salaries, all the way back to where they would have been had the firm not frozen salaries in the first place.
Today, we have news that Latham is opening up new offices: one in Houston and one in Beijing.
Ahh, ah, AHHH, ah. Don’t call it a comeback:

Latham continues to rock peers and put suckas in fear, after the jump.

double red triangle arrows Continue reading “Latham is Expanding. Where Have I Seen This Movie Before?”

79 Comments

Legal Eagle Wedding Watch: Rabbit, Rabbit

By

Ferrell.jpgHoly crap.
We did not Photoshop this picture. It actually appeared in a New York Times wedding announcement. Chuckle at it, if you must. But know that when you do, you’re fiddling while a venerable institution goes up in flames.
December isn’t a great month to get married, and this December was particularly bad. Still, our final Legal Eagle Wedding Watch couples for 2009 have some surprisingly strong Biglaw credentials. Here they are:

1. Nicole Schreier and Matthew Kaplan
2. Rachel Lu and Jimmy Gao
3. Elizabeth Cronise and Joe McLaughlin

Check out these couples’ bios, after the jump.

double red triangle arrows Continue reading “Legal Eagle Wedding Watch: Rabbit, Rabbit”

Page 7 of 141...34567891011...14