Size matters, and to be successful today you really have to be in that Am Law 50.
– Alan Levin, managing partner of Edwards Wildman, commenting on the importance of being viewed as a “tier 1″ law firm in the overall Biglaw hierarchy. Levin identified possible merger partners by commissioning a study to separate firms into “tier 1″ and “tier 2″ groupings. Locke Lord was considered a “tier 1″ firm, and Levin will become vice chair of Locke Lord Edwards if the merger goes through.
* Kansas Law School has been fined and censured by the ABA for recruiting violations surrounding Andrew Wiggins. Wait, no, I got that wrong. KU Law started an LL.M. program without asking, which I’m sure they did only because Wiggins is from Canada. [Topeka Capital-Journal]
* The proposed merger between Patton Boggs and Locke Lord has been called off. Fingers crossed that Bendini Lambert is the next target for Locke Lord. [Am Law Daily]
* Mayor Bloomberg swears at his last set of judges. I mean swears “in.” Man, who gets up this early? [NYC.gov]
* President Obama commutes the sentences of eight inmates convicted of crack-cocaine offenses. [New York Times]
* Did EA know Battlefield 4 would kind of suck before they released it? [Techspot]
* So evidently R. Kelly isn’t “trapped” in the closet, so much as he’s hiding there waiting for your daughter to come home. [The Root]
* Here’s your homework for today: everybody has to go find a dispirited Duck Dynasty fan and patiently explain to him or her the difference between a government infringement on free speech and a network momentarily suspending a bigot. You’re not allowed to punch the fans, you can only use words, and if necessary, hand gestures. [Huffington Post]
* An inside look at the jury deliberations in the recent insider trading trial of Michael Steinberg of SAC Capital. [New York Times]
Ed. note: Please welcome our newest columnist, Gaston Kroub of Kroub, Silbersher & Kolmykov PLLC, an intellectual property litigation boutique here in New York. He’s writing about leaving a Biglaw partnership to start his own firm.
When you work in Biglaw, you are pretty much assured you will have a nice office to go to everyday. Of course, you are also expected to spend the vast majority of your waking hours in that office, particularly as an associate.
My personal Biglaw experience when it came to offices was probably the norm. When I started at Greenberg Traurig, the IP department was located just above some of Bernie Madoff’s offices in the Lipstick Building on Third Avenue in Manhattan. A few years in, we joined the rest of the firm within the MetLife (former Pan Am) Building right over Grand Central. In the summers, and after the partners I worked with relocated more frequently depending on our case load, I would spend time working out of Greenberg’s New Jersey office. While not Manhattan, that office had nice suburban views and was easily accessible off the highway. And when I lateraled to Locke Lord, I got to enjoy a very easy commute from Brooklyn to Lower Manhattan, and some beautiful views from my office of the Hudson River and New York Harbor.
Biglaw does office space right. In some respects, though, that is changing….
Ed. note: Please welcome our newest columnist, Gaston Kroub of Kroub, Silbersher & Kolmykov PLLC, an intellectual property litigation boutique here in New York. He’ll be writing about leaving a Biglaw partnership to start his own firm.
This is a position I never thought I would be in. I am sure my partners feel the same way. If someone would have told me last Thanksgiving that within a year I would, together with two of my colleagues, give notice at my firm to start an IP boutique, I would have laughed. After all, Biglaw was all I knew, starting with my first full-time position as a first-year associate at Greenberg Traurig over a decade (and well over twenty thousand billable hours or so) ago. Leaving Biglaw to start my own boutique? I had honestly never given it a thought before this year.
Now that I am a whole week into the experience, I am happy to report that I have never been more excited for the next stage of my professional career. Even though I no longer have a large office with a view of the Statue of Liberty (and actually am working from home as we negotiate for space), there is something sweet about trying to build a business on my own terms, working together with partners that I have come to value and trust. After all, they had the courage to make the leap as well. While the decision was not an easy one, it already feels like the right one.
Let’s not mince words: Patton Boggs is stuck in the muck. In the most recent Am Law 100 rankings, the firm showed a 15 percent decline in profits per partner — one of the biggest dips in the entire survey, contrasting with the modest growth that most of Biglaw enjoyed. Gross revenue also fell, by 6.5 percent.
The Am Law 100 rankings looked at 2012 performance compared to 2011 performance. Perhaps things have improved for Patton Boggs in 2013?
Alas, no. While many firms have resorted to voluntary buyouts or layoffs of support staff this year, few have laid off lawyers (at least not openly). But Patton Boggs has already been through two significant, open and notorious rounds of layoffs in 2013 to date, affecting not just staff but lawyers as well.
How is Patton Boggs trying to save itself, and will its plan work?
It was just two weeks ago that we told you about the merger talks between Patton Boggs and Locke Lord. At the time, we wondered about redundancies between the two firms’ offices. We thought that “most jobs” would be safe, considering the fact that there were only three overlapping locations.
Well, it looks like we were dead wrong. Guess which firm just laid off both support staff and lawyers?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.
Merger season has arrived, yielding a fruitful harvest of potentially enormous mergers between Patton Boggs and Locke Lord and between Pillsbury and Orrick. Perhaps the most interesting aspect of these mergers is the potentially “super” practice groups these mergers will make.
Patton Boggs has recently undergone a period of mild strife, as we detailed several months ago. Though they lost a significant number of energy and environmental attorneys after the fallout of the Chevron litigation, this merger with Locke Lord could be effective not only as a stopgap, but could also vastly strengthen each firm’s energy department….
As reported in Morning Docket, it looks like there’s another big merger in the offing. While it might not create a new top 10 mega-firm like the proposed Pillsbury and Orrick union, if the rumored merger talks between Patton Boggs and Locke Lord come to fruition, it would join one of the major players in energy law with one of the most influential lobbying shops in D.C.
Sounds like a deal rife with “synergy” and all those other corporate buzzwords.
And this may not be the only deal Patton Boggs is looking at….
* Hot on the heels of news about Pillsbury’s talks with Orrick, we’ve got the scoop on yet another possible law firm merger. Patton Boggs has the urge to merge, and Locke Lord seems pretty receptive. [Reuters]
* Three people who were optimistic about law school graduated with three very different results. One has a job, one is unemployed, and one failed the bar. Sadly, this seems pretty standard. [National Law Journal]
* Lat’s going to be on vacation this week (lucky him), but while he’s gone you can check out his review of a new novel set in a law firm, The Partner Track (affiliate link) by Helen Wan. Enjoy! [Wall Street Journal]
* A judge denied the NCAA’s motion to dismiss Ed O’Bannon’s antitrust lawsuit, noting everyone could “suck her dicta” concerning the Supreme Court’s notion that players cannot be compensated. [ESPN]
* Jodi Arias wants to fire Kirk Nurmi, her lead attorney, claiming in a 12-page handwritten motion that he has an “utter poverty of people skills.” Her words hurt as much as her stab wounds. [Arizona Republic]
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 seven years. You can reach them by email: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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