Linklaters

Lawyerly Lairs: Three Partners’ Palatial Pads

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500 West End Avenue: former home of Tina Fey, until she sold - to a law firm partner.

After suffering through a brutal recession that was fueled, in part, by the collapse of the real estate market, you’d think that nobody would want to read about real estate ever again. But that’s not what’s happening in the blogosphere, where real estate is hotter than ever.

For example, consider Lockhart Steele’s Curbed, an excellent network of sites focused on real estate and interior design. Curbed is thriving, and it recently launched a national edition.

Above the Law readers are similarly obsessed with real estate. Is it because everyone had to take Property as 1Ls? For whatever reason, Lawyerly Lairs is one of our most popular and well-trafficked features. The last installment, a visit to the $4.7 million Chicago townhouse of outgoing Northwestern Law dean David Van Zandt, continues to be a top post (even though it dates back to before Thanksgiving).

So let’s give you more of the real estate porn you want and deserve. In today’s Lawyerly Lairs, focused on ATL’s home city of New York, we look at the recently acquired, envy-inducing residences of partners at three leading law firms: White & Case, Sullivan & Cromwell, and Linklaters.

The first featured residence even has a celebrity connection: the seller was Tina Fey, fabulous television and movie star (and Sarah Palin impersonator)….

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Fall Recruiting Open Threads: Vault 21 – 30 (2011)

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We’re rolling through the Vault 2011 list of the “prestigiest” firms in the land, so that you can comment on what it’s like to actually live, work, and breathe those firms (when you’re not choking on all the prestige in the air).

We’ve covered #1-10 and #11-20. Here’s the next round-up. Now it’s time for the London-based Magic Circle firms to join in the elite fun:

21. Arnold & Porter
22. Shearman & Sterling
23. Boies, Schiller & Flexner
24. O’Melveny & Myers
25. Ropes & Gray
26. Morrison & Foerster
27. Munger, Tolles & Olson
28. Hogan Lovells
29. Clifford Chance
30. Linklaters

What do associates have to say about the ups and downs of life at these firms? Here are some excerpts from their Vault listings…

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My Job Is Murder: Of Beetles and Batrachotoxin

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My Job Is Murder.jpgEd. note: Welcome to ATL’s first foray into serial fiction. “My Job Is Murder,” a mystery set in a D.C. appellate boutique, will appear one chapter at a time, M-W-F, over the next few weeks. Prior installments appear here; please read them first.
Susanna Dokupil can be reached by email at sdokupil@sbcglobal.net or on Facebook.
Tyler slowly awoke to the sounds of the drones coming to work in the hive. He dragged himself to the men’s room, looked at the closed ceiling tiles with a smile, and straightened himself up. He planned to read his draft again, give it to Carol, and go home to get some sleep.
On the way back to his office, he saw Mark.
“Have you heard? Thrax was poisoned!” he said.
“Poisoned? How?”
“The medical examiner found batrachotoxin in his bloodstream.”
“Batracho-what?” Tyler asked.
“Batrachotoxin. The stuff in the skin of poison dart frogs that makes them poisonous.”
“Weird. Was there a frog in his office?”
“They’re in there now, checking everything for traces of the poison,” Mark replied.
“Hmm. . .” Tyler said sleepily and staggered back to his desk. He had to send that draft.

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Fall Recruiting Open Thread: Vault 21 – 30 (2010)

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comparing.jpgYou can still call yourself prestigious if you work at the firms that make up today’s fall recruiting open thread. But once you are outside of the Vault top 20, people start talking about “firm culture” at least as much as they talk about prestige.
Here’s the next batch:

21. Shearman & Sterling
22. O’Melveny & Myers
23. Quinn Emanuel
24. Ropes & Gray
25. Hogan & Hartson
26. Clifford Chance
27. Morrison & Foerster
28. Mayer Brown
29. Linklaters
30. Boies Schiller & Flexner

The slide continues for Shearman & Sterling. The firm was ranked #19 last year, and is down two spots this year. Is there any specific reason for the fall?
After the jump, let’s look at the firms rising up through the rankings.

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Morning Docket 08.10.09

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yawn gets six months in prison.jpg* An Illinois judge sentenced Clifton Williams to six months in prison for yawning. Good thing Williams didn’t set off a yawn waterfall. [Chicago Tribune]
* Second Circuit reverses Judge Jed Rakoff’s decision to grant New York Times access to the Emperor’s Club wiretaps. Further embarrassment of Eliot Spitzer is not sufficient “good cause.” Here’s the decision. [Courthouse News Service]
* Layoff litigation for Linklaters? [Legal Week]
* Where the work is: practice areas that are still booming. [ABA Journal]
* Lawsuits say smartphones force hourly employees to work off the clock. [Wall Street Journal (subscription)]
* Hot recession trend: Pro se. [Los Angeles Times]

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Welcome to Linklaters!

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Earlier today, we welcomed summer associates to Above the Law. It looks like Linklaters had the same idea. Here is today’s welcome memo from the firm.
linklaters sa questions.jpg
We offer some more “frequently asked questions” after the jump.

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International Layoff Watch: Linklaters? More like ‘See You Later’

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london.gifLast week, we mentioned that Linklaters was gearing up to conduct massive layoffs.

Today, The Lawyer is reporting that 270 Linklaters employees are out of a job:

Magic circle firm Linklaters has confirmed that between 100 and 120 of its City lawyers will lose their jobs as part of its so-called New World strategy, while 130 to 150 members of business services staff will also be affected.

“New World Strategy” indeed.

Linklaters is a large firm, but 270 people represent deep cuts:

The London cuts will translate to 4.8 per cent of the firm’s total workforce while 4.2 per cent of its lawyer headcount will be slashed.

Is there a country where the legal industry is thriving? Have Rosetta Stone, will travel.

Linklaters: 270 London jobs to go [The Lawyer]

Earlier: Magic Circle Meltdown: Layoffs at Allen & Overy, Linklaters, and Clifford Chance

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Magic Circle Meltdown: Layoffs at Allen & Overy, Linklaters, and Clifford Chance

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london.gifThe London-based “Magic Circle” firms may have had a strong presence on the 2008 global law firm rankings, but a few of them are off to a rough start in 2009. Earlier this month, we reported, “having already laid off 20 New York litigators, Clifford Chance today let go of 70 – 80 London lawyers.”

The layoff disease has spread to two other Magic Circle firms. Layoffs were announced in the New York office of Allen & Overy yesterday. Our sources says:

Allen & Overy just fired two paralegals and three attorneys in the NY office. These firings are said to be “performance based.” Word on the street is that there will be more, but they will come in bits and pieces to avoid bad press. Rumors have already started about other attorneys being let go in offices abroad.

[UPDATE (Jan. 26, 10:34 a.m.]: In response to our inquiry about layoffs, A&O spokesperson Jaime Bruck says, “This is nothing more than the normal management of our business. We don’t comment on the reasons for individual departures. The total # of attorneys in NY is 171.”]

And Linklaters plans layoffs soon. The Old World firm is going “New World” by axing 70 partners and 10 percent of its associates, reports The Lawyer:

Linklaters’ top management is to drastically overhaul the firm’s structure, slashing up to 70 partners and 10 per cent of associates in a bid to become a smaller, more profitable operation.

The programme, understood to be called Linklaters New World, will also see redundancies among support staff. The firm’s offices in Western Europe are thought to be most vulnerable to cuts.

Those layoffs could start as soon as February.

With the Guardian reporting that “Britain has officially entered recession for the first time since 1991,” the layoff news from London seems inevitable. But some of the firms in the circle– Freshfields and Slaughter & May– are still feeling magical. Good news from those firms, after the jump.

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Associate Bonus Watch: A Post-Holiday Round-Up

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law firm associate bonus watch 2008 biglaw bonuses small.jpgA few bonus announcements trickled in over the holidays. Here’s a round-up of recent bonus announcements that have not yet been covered in these pages. If you have new news, e-mail us at tips@abovethelaw.com.

1. Sheppard Mullin (New York): Sheppard Mullin is paying above market rate for attorneys who racked up the hours this year. Baseline hours are 2000 in New York (and 2100 outside of New York, see below). Bonuses range from $20,000 to $70,000, plus discretionary bonuses of $20,000 to $50,000. Reaction at the firm, after the jump.

2. Sheppard Mullin (outside New York): Associates in California and D.C. had to rack up a few more hours than their NY brethren to qualify for bonuses, with 2,100 as their baseline. And their lockstep bonuses for additional hours are not as generous. Details after the jump.

3. Akin Gump (outside New York): We posted on the New York market/ half-Skadden bonuses for Akin New York associates, announced on New Year’s Eve. Associates outside of New York received an e-mail saying that “merit bonuses” will be given based on “productivity, quality of work and Firm citizenship.” Check out the e-mail, and news of a freeze watch there, after the jump.

4. Linklaters (all U.S. offices): This Magic Circle firm announced bonuses and salary increases for U.S. associates right before Christmas. The London-based firm is following Cravath’s lead, paying half-Skadden bonuses to all U.S. associates, with no hours requirement. The firm will have normal class-year raises. Per our tipster, “the firm had a good first half, including in NY, so a Latham-style salary freeze would have been pretty shocking.”

5. Arnold & Porter (New York): Associates outside of New York got individualized bonus memos last week. New Yorkers got their bonus announcement on Jan. 2. Per our tipster, “the scale was as expected, the half-Skadden, which is significantly less than the bonus in non-NY offices, but at least is “market,” unlike our salaries.” Our tipster says the first A&P paycheck of the year remains at 2008 levels.

Bonus memos galore, after the jump.

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Morning Docket 1.2.09

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hamster.jpg

* London-based law firm Linklaters was the leading law firm in mergers and acquisitions this year, taking the number 1 title from Sullivan and Cromwell. [Bloomberg]

* Former UK attorney general Lord Goldsmith says the UK should take in prisoners from the Guantanamo Bay prison camp if it will help the U.S. close the prison. [BBC News] Australia is not likely to take any prisoners says prime minister Kevin Rudd. The U.S. has asked a 100 countries to help clear the prison. [BBC News]

* Guinea pigs may smell bad but should you go to jail for owning one? Probationers in California could end up in jail for failing to report owning harmless pets like hamsters or goldfish thanks to a ruling by the California Supreme Court. [San Francisco Chronicle]

* A chinese court convicted 11 people for running a counterfeiting ring that “manufactured and distributed pirated Microsoft software throughout the world.” [The New York Times]

* Associates were not the only people in the legal community that were displeased with compensation this year. Federal judges lost their request to Congress for a pay raise to account for inflation. Chief Justice John Roberts says the frightfully low pay for judges threatens the quality of the court. [The Los Angeles Times]

* Life at law firms is not looking good for 2009, sorry to say. Lay-offs and lower bonuses will likely continue in the New Year. On the bright side–less work could help you meet that New Year’s resolution to go to the gym. [The Chicago Tribune]

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