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Milbank Tweed

Correction: Milbank Didn't Fire All Its Staff Attorneys

Milbank Tweed Hadley McCloy AboveTheLaw Above the Law blog.jpgOn Tuesday, we wrote about staff attorney layoffs at Milbank Tweed Hadley & McCloy. As a commenter on our post noted, yesterday the firm sent around an email disputing our account:

From: David R. Gelfand
Sent: Thursday, April 17, 2008 3:20 PM
To: #Litigation Non Partner Attorneys US; #Litigation Partners US
Cc: Sikora, Michael; Green, Valerie
Subject: Discovery Attorney Program

Several of you have asked about rumors that we have disbanded our Discovery Attorney Program. The rumors are absolutely not true.

If you need assistance from our Discovery Attorneys, please contact [xxxx].

Thanks.

David

We would have appreciated it if Milbank had responded to the multiple inquiries we made of them prior to running the post, instead of responding indirectly and after-the-fact. But it's not the first time we've seen passive-aggressive behavior on the part of a law firm.

(We often reach out to law firms about rumors we hear -- and we often kill stories when firms explain how and why they're inaccurate. This happens almost every day around here. But if firms don't avail themselves of the opportunity to comment on a reasonably credible rumor, then we view it as fair game.)

Anyway, we ran David Gelfand's email by our original source, who responded:

"Milbank let go of all of the permanent discovery attorneys except for two. They kept on temporary discovery attorneys -- those who are working through staffing agencies and not on Milbank's payroll."

"Notice in Milbank's response [how they say] they did not dissolve the Discovery Attorney Program. That's very different from saying that they did not fire all or nearly all of the attorneys in that program."

Our earlier report, in stating that all the permanent discovery attorneys were laid off, was erroneous, since two were spared. We regret the error (and have appended a correction to the original post).

Could this latest report be erroneous as well? Quite possibly; we're honest about our fallibility. But we once again reached out to Milbank, yesterday and today, and neither David Gelfand nor a firm spokesperson responded to our inquiries.

If you have knowledge of what's really going on over there, feel free to drop us a line. Thanks.

Earlier: Nationwide Layoff Watch: Milbank Cans Staff Attorneys

Nationwide Layoff Watch: Milbank Cans Staff Attorneys

Milbank Tweed Hadley McCloy AboveTheLaw Above the Law blog.jpgLast month, we informed you about positive developments at Milbank Tweed Hadley & McCloy. These included enhanced parental leave and a promise of no associate layoffs. In a bit of positive publicity for Milbank, whenever a rival firm announces a no-layoffs policy -- e.g., Latham -- it's described as making "the Milbank promise."

But not everything is hunky-dory over at Milbank. We hear that, earlier this month, the firm laid off the entire group of staff attorneys. It appears that the "Milbank promise" protects partnership-track associates, but does not extend to staff lawyers. (Shhh, don't tell Yolanda Young....)

We wondered whether perhaps it was just a case of contract lawyers whose project was finished being dismissed because their work was done. But a source explained this was not the case:

Milbank has a staff attorney program, much like Skadden or Simpson, where they have a group of permanent employees engaged in e-discovery, doc review, etc for the litigation department. Staff attorneys are not hired to work on a specific case like a contract attorney. They get assigned to various matters, and once they finish, get assigned to new ones, much like associates.

In other Milbank news, we hear that their summer program has been capped at 12 weeks. But considering that there are only so many weeks in a summer, and that some firms -- e.g., Pillsbury Winthrop -- are going as low as 10 weeks for summer 2008, this doesn't seem like a big deal.

A Milbank spokesperson did not respond to multiple inquiries about either the staff attorney or summer program news.

Update / Correction: This post is the subject of a correction. Please see here.

Earlier: What's Up at Milbank Tweed?

Legal Eagle Wedding Watch 3.9 and 3.16: Deposing Marriage

Legal%20Eagle%20Wedding%20Watch%20NYT%20wedding%20announcements%20Above%20the%20Law.jpgFor LEWW, one of the best things about spring is the return of a reliable stream of lawyer-lawyer couples to the NYT wedding pages. Soon we'll even be seeing SCOTUS clerks! This week five out of our six newlyweds sports a JD. Here they are:

1.) Michelle Lieberman and Daniel Lubetzky

2.) Michelle Davidowitz and Jed Schwartz

3.) Jessica Zeldin and Johnston Whitman Jr.

More about our finalists, after the jump.

Continue reading "Legal Eagle Wedding Watch 3.9 and 3.16: Deposing Marriage"

What's Up at Milbank Tweed?
(Parental leave, for one thing.)

Milbank Tweed Hadley McCloy AboveTheLaw Above the Law blog.jpgDespite the recent turmoil in the economy and the stock market, all appears to be well at Milbank Tweed Hadley McCloy. A tipster provided us with the highlights of chairman Mel Immergut's "State of the Firm" address from last week:

1. Primary caregiver leave is now 18 weeks paid.

2. Blackberries will get replaced every two years instead of three.

3. "We're not getting fired."

It appears that Milbank has effectively made a "no layoffs" promise. It learned that lesson the hard way:

Mel stressed that in the last downturn, they had slowed hiring, and then found themselves at a loss for mid-level associates when things picked up later. So the plan is to continue to hire new people (our summer program is the largest to date at 100+) and retain, but not really hire laterals.

Will other firms make a similar pledge? We'll see.

Update: Do the Cadwalader Shuffle

Cadwlader Official.JPGHere's the most comprehensive bit we've heard from a tipster:

[N]o longer at CWT anymore (thankfully), but I did hear that Chris White (the Partner who deposed Link) is attempting a major realignment of practice groups. Apparently he wants to move the Corporate department into the Real Estate and somehow make it a sub group. As expected, this is not going over well with the Corporate partners (imagine Dennis Block being told he needs to move?) and there's all kinds of infighting and threats from the Corporate partners in regards to this.

Is this the source of the rumblings we've been hearing? We'll update you as we find out more information.

UPDATE #2: This tip just came in the comments from someone in the office at Cadwalader today:

I'm in the office today and something is definitely going on. There is absolutely no work going around. I asked a partner if everything was OK and he told me to mind my own business. This is not a joke. I also have some friends at other firms (Milbank) who say that they are also extremely slow.

So, we have confirmation that "something" is going down. Could this be just another slow Friday, or are we on the verge of a serious scandal?

Associate Bonus Watch: Milbank Matches

associate bonus watch 2007 law firm Above the Law blog.jpgWe've had this news for a while, but technical difficulties prevented us from posting on the main page. We did note it in the comments.

Milbank has matched. Memo after the jump.

Due to the aforementioned technical difficulties -- we're switching to new servers later this month, thankfully -- we're signing off for the day. If any more bonus news surfaces while we're gone, feel free to discuss it in the comments (and also please email us, since we don't read every last comment). Thanks.

Continue reading "Associate Bonus Watch: Milbank Matches"

Fall Recruiting Open Thread: Vault 21-25

Morrison Foerster 425 Market Street San Francisco Above the Law blog.jpgOkay, folks, you know what to do. Here are the next five law firms up for discussion (in Vault 100 order, with prestige scores in parentheses):

21. Arnold & Porter LLP (7.012)
22. Jones Day (6.932)
23. Morrison & Foerster LLP (6.898)
24. Milbank, Tweed, Hadley & McCloy (6.752)
25. Clifford Chance LLP (6.747)

The virgin territory of the comments is yearning for your touch.

The Vault Top 100 Law Firms [Vault]

Earlier: Vault 1-5; Vault 6-10; Vault 11-15; Vault 16-20

Skaddenfreude: The Milbank Memo

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGApologies for the delay -- server problems. Trust us, they're frustrating us ten times more than they're frustrating you.

With thanks to the various tipsters who sent it to us (including "Goose"), here's the memo from Milbank Tweed announcing pay raises for their associates:

MILBANK TWEED HADLEY & McCLOY LLP

From: Wagner, Christine
Sent: Tuesday, January 23, 2007 5:12 PM
To: #Asia Associates All; #DC Associates; #LA Associates; #NY Associates; #LN Associates
Subject: Sent On Behalf Of The Executive Committee

MEMORANDUM TO ASSOCIATES - CLASSES 2006-1999 AND SPECIALS

Re: 2007 Salaries

We are pleased to announce salary adjustments as listed below:

Class of 2006 - $160,000
Class of 2005 - $170,000
Class of 2004 - $185,000
Class of 2003 - $210,000
Class of 2002 - $230,000
Class of 2001 - $250,000
Class of 2000 - $265,000
Class of 1999 - $280,000

These increases are retroactive to January 1, 2007 and will be reflected in February 15 paychecks for those who are in good standing and with us on that date.

2007 salary increases for Specials will be determined on an individual basis this quarter as usual.

We appreciate all your contributions and look forward to another great year.

THE EXECUTIVE COMMITTEE
Milbank
Christine Wagner
Director of Legal Personnel

Earlier: Previous announcements of law firm associate salary increases (scroll down through "Skaddenfreude" archives)

Associate Bonus Watch: Wednesday Open Comment Thread

stack of bills cash money.jpgAs you can see from the time of our first post of the day, we've been in front of our computer for about twelve hours. Our eyes hurt. And we're hungry.

We need to stand up. Maybe we'll be really daring and leave our apartment.

Hence this open comment thread. Some of the biggest Biglaws -- Cravath, Sullivan & Cromwell, Paul Weiss -- have already announced their bonuses. But if Skadden comes along and blows the top off the bonus market while we're gone, please post it in the comments (along with a link to your source).

We'll follow up when we return. Thanks.

P.S. We realize this is unlikely. First, Skadden will probably do what everybody else has done, and match the market bonuses (as set last week by Milbank). Second, based on the buzz over at Greedy NY, it seems that a Skadden announcement will probably come tomorrow.

Earlier: Prior ATL coverage of bonuses (scroll down)

ATL Week in Review: December 4 - 8

Christmas tree.jpg* The holiday season is here, and you know what that means: year-end bonuses for law firm associates. On Friday, Milbank Tweed made the first big bonus announcement. And this time it wasn't fake.

* They talk a lot about "due process" over at Yale Law School. But questions have been raised concerning the process by which Linda Greenhouse, SCOTUS reporter for the New York Times, was selected over Justice Samuel Alito for the school's prestigious Award of Merit.

* If Greenhouse benefited from preferential treatment from YLS Dean Harold Koh, it wouldn't have been the first time.

* Justices Antonin Scalia and Stephen Breyer: not just geniuses, but also an inspired comedic duo.

* Speaking of great legal minds, Professor Noah Feldman is leaving NYU for Harvard Law School.

* And speaking of NYU Law School, if you haven't already voted in the 3L hotties contest, there's still some time left. Polls close tomorrow at 3PM (Eastern time).

* Finally, we have a new little sibling. Please extend a warm welcome to Supermogul: The View From the Top.

Associate Bonus Watch: A Real Milbank Bonus Announcement

stack of bills cash money.jpgWe're away from the internet for a few hours -- to attend a friend's art opening, followed by drinks and dinner -- and lo and behold, the first big bonus announcement comes in.

That's what we get for stepping away from our computer on a Friday night. We had a feeling that today might be the day.

Anyway, thanks to everyone who brought the news to our attention. With apologies for the ridiculous and inexcusable delay -- go ahead, rank on us, we deserve it -- here's the (real) Milbank Tweed bonus memo:

MEMORANDUM TO ASSOCIATES

In The Classes of 2006 - 1998

The Firm is very pleased to announce that we will again be paying special year-end bonuses this year to all associates in the classes of 2006 to 1998. Bonuses will be paid on or before January 16, 2007 to associates who are in good standing and actively employed with us on the date the bonuses are paid. Bonuses will be prorated to reflect 2006 start dates, part-time schedules and unpaid leaves of absence. Bonuses will range between $30,000 and $65,000 depending on class year as follows (and will be paid in local currency equivalents where appropriate at the then current exchange rate):

Class of 2006 - $30,000
Class of 2005 - $35,000
Class of 2004 - $40,000
Class of 2003 - $45,000
Class of 2002 - $50,000
Class of 2001 - $55,000
Class of 2000 - $60,000
Class of 1999 - $65,000
Class of 1998 - $65,000

The Firm sincerely thanks you for your many contributions and extends best wishes for a very happy and healthy holiday season.

THE EXECUTIVE COMMITTEE

The memorandum's authenticity has been confirmed to us by multiple sources. Furthermore, Milbank chairman Mel Immergut even made on-the-record comments about the firm's bonuses to the WSJ Law Blog.

So this is news you can take to the bank. Happy Holidays, Milbank Tweed associates!

Milbank's Bonus...The Real Deal [Infirmation/Greedy NY]
Memorandum to Associates [AutoAdmit.com]
Get Ready to Celebrate — Bonus News Is In [WSJ Law Blog]

Earlier: Associate Bonus Watch: The Milbank Memo Is Fake
Associate Bonus Watch: The Milbank Memo Is REALLY Fake
Prior ATL coverage of bonuses (scroll down)

Associate Bonus Watch: An Explanatory Note

stack of bills cash money.jpgStill no news. The message boards are quiet (aside from complaints about the "trolls," and admonitions not to "feed" them).

At this point in time, we're guessing that no major bonus news will break this week. But we're happy to be proven wrong. As soon as you hear something, please email us.

Last night, a fake Willkie Farr bonus memo was making the rounds (just like the fake Milbank Tweed bonus memo). We posted the memo quickly, in the interest of timeliness, but papered it up and down with disclaimers: unconfirmed, not verified, do not rely, etc. An hour or two later, after conferring with our Willkie sources, we came back and declared it to be fake.

Some folks were annoyed that we posted the fake memo to begin with. So we'd like to explain how we operate around here, by quoting from two reader comments. Comment 1:

ATL posts them immediately because these things are time-sensitive. No one should rely on this info before it gets confirmed, but the easiest way to confirm it is to get it out to a wide audience quickly and let it be debunked. I for one don't care whether it's initially accurate or not, I just appreciate the effort to shed light on one of the many mysterious aspects of big firm life -- compensation.

And comment 2:

The blogosphere way of doing things is to publish stuff ASAP, then to correct or modify as the story develops. The mainstream media way of doing things is to hold a story - sometimes for a long time - until it's all confirmed. It is not surprising that ATL takes the blogosphere approach.

Also, when ATL originally posted the memo, there were boldface, all-caps disclaimers all over the post. You'd have to be a moron to rely upon anything posted with all those caveats.

So this is how we're going to operate around here. We'll put up purported "bonus memos" ASAP, but with disclaimers, while we work on confirming and fact-checking them. But please don't treat such memos as authentic until we append a confirmation (or remove the disclaimers).

Striking a balance between speed and accuracy is a constant struggle, in both the blogosphere and the mainstream media. This is our explanation of how we strike the balance; we hope you find it helpful. Thanks for reading.

Earlier: Prior ATL coverage of bonuses (scroll down)

Associate Bonus Watch: All Quiet on the Eastern Front

stack of bills cash money.jpgIt looks like we'll have to wait until next week for any major associate bonus announcements. Nothing exciting has happened since the brouhaha over the supposed Milbank Tweed bonus memo, which turned out to be fake.

As soon as you hear anything, please let us know ASAP, by email (subject line: "Associate Bonus Watch"). As always, anonymity is guaranteed -- unless you want to be fired from your Biglaw job so badly that you WANT public credit for leaking your firm's bonus memo.

We need your tips because we don't want to be entirely dependent upon the different message boards (Greedy Associates, Infirmation, AutoAdmit.com, etc.). While we do check them from time to time, we don't do so as much as we should. Why? They annoy the crap out of us. You have to wade through so much juvenile junk to find anything that's borderline interesting. And once you do find something, you can't even be sure that it's true (e.g., the Milbank memo).

So no big bonus announcements yet. But we have gathered a few tidbits from sources that we know and trust (as opposed to anonymous posters on message boards).

Check 'em out, after the jump.

Continue reading "Associate Bonus Watch: All Quiet on the Eastern Front"

Associate Bonus Watch: The Milbank Memo Is REALLY Fake

stack of bills cash money.jpgYesterday we requested tips from you about associate bonuses: leaked bonus memos, juicy rumors, etc. Please send this information to us by email, to tips AT abovethelaw DOT com (subject line: "Associate Bonus Watch").

Please send us tips that you believe in good faith to be true. Because if you send us stuff that's fake, we'll find that out when we do our fact-checking.

Take the supposed "bonus memo" of Milbank Tweed. It was purportedly sent out by Christine Wagner, Milbank's director of legal personnel.

We contacted Ms. Wagner by email. Here's her response:

From: Wagner, Christine
Sent: Wednesday, November 29, 2006 10:27 PM
To: David Lat
Subject: RE: Milbank "bonus memo"

It is not authentic. No such memo has been issued.

Don't f*** with us, fellas. This ain't our first time at the rodeo.

Update: Looking for the REAL Milbank Tweed bonus memo, issued on Friday, December 8? To view it, click here.

Memorable Quotes from Mommie Dearest [IMDb]

Earlier: Associate Bonus Watch: The Milbank Memo Is Fake
Welcome to ATL Associate Bonus Watch

Associate Bonus Watch: The Milbank Memo Is Fake

stack of bills cash money.jpgWe tend to think that fact-checking is overrated. But sometimes it pays dividends.

This afternoon, a document purporting to be a Milbank Tweed bonus memo appeared on the oh-so-reliable message board of AutoAdmit.com, aka xoxohth. It sparked frenzied discussion at both AutoAdmit and Greedy Associates.

We checked with our sources at Milbank. The "bonus memo" is phony. But we give the prankster credit for decent execution.

Update: Looking for the REAL Milbank Tweed bonus memo, issued on Friday, December 8? To view it, click here.

In case you'd like to see the fake "bonus memo," in all of its fraudulent glory, we reprint it for you after the jump.

Continue reading "Associate Bonus Watch: The Milbank Memo Is Fake"

Musical Chairs: 11.06.06

musical chairs above the law legal blog above the law legal tabloid above the law legal gossip site.GIFA few moves within the legal profession worth noting:

Legal Academia:

* Tax law professor Neil Buchanan, to GW, from Rutgers-Newark, effective January 2007. (Gavel Bang: TaxProf Blog.)

Lateral Law Firm Moves:

* Corporate lawyer Carey Schreiber, to Winston & Strawn, from Dewey Ballantine.

* Corporate lawyer Jeffrey Katz, to Dechert (as a partner), from Milbank Tweed (where he was a senior attorney).

New Partners:

* King & Spalding has named twelve new partners. Have a friend who was up this year? See if they made it by reviewing the firm's press release.

Although they don't involve moves, while we're on the subject of law firm employment (and King & Spalding), here are two interesting items from the WSJ Law Blog:

1. Power Brothers Ascend to the Top of Hotlanta’s Legal Scene: Two brothers, Robert Hays and Richard Hays, will be heading Atlanta's two largest law firms, King & Spalding and Alston & Bird.

This will take effect as of 2008, when Richard Hays takes over as Alston & Bird's managing partner. Robert Hays is currently chair of King & Spalding. See also here.

2. Spurned Orrick Associate Sues Firm: "At the same time that it’s talking merger with Dewey Ballantine, west-coast powerhouse Orrick, Herrington & Sutcliffe is defending a suit by a former associate who claims the firm fraudulently promised to make him a partner."

Buchanan to Leave Rutgers for GW [TaxProf Blog]
NY Partners Switching Firms [NYLawyer.com]
NY Associates Making Partner [NYLawyer.com]
King & Spalding Announces Twelve New Partners [King & Spalding]

Musical Chairs: 10.31.06

musical chairs above the law legal blog above the law legal tabloid above the law legal gossip site.GIFTons of moves to report today -- and these are just the highlights:

New Partners:

* Latham & Watkins -- which, as discussed yesterday, is very popular with Supreme Court clerks -- has elected 26 new partners, in offices around the country. That's enough lawyers to start a whole new law firm.

You can check out their names here. If you graduated from law school around 1998, you probably know some of them.

"Magic Circle" Hiring Spree:

The top British law firms -- aka the "Magic Circle" firms -- continue to cast spells over U.S. practitioners, who have been flocking to their American offices in droves.

* Louis Kimmelman, former co-chair of O'Melveny & Myers's international arbitration practice, is heading to Allen & Overy's rapidly growing New York office. Kimmelman regularly appears before the International Court of Arbitration of the International Chamber of Commerce, the American Arbitration Association, and other tribunals.

* Finance lawyers Zarrar Sehgal and Anthony Lopez III, to Clifford Chance (NY), from Milbank Tweed and Cahill Gordon, respectively.

Lateral Moves:

* Corporate and securities lawyer Michael Student, to Brown Rudnick, from Holland & Knight.

* Tax lawyer James Tander, corporate lawyer Patrick de Carbuccia, and real estate lawyer Michael Pollack, to Reed Smith (NY). They come from, respectively, Skadden Arps, Willkie Farr, and Withers Bergman of (New Haven, CT).

Government to Private Sector:

* Sharon McCarthy, a former deputy chief of the U.S. Attorney's Office for the Southern District, to litigation and tax boutique Kostelanetz & Fink, as a partner.

Internal Promotions:

* Paul Tvetenstrand, a partner in the structured finance practice group, has been elected chairman and managing partner of Thacher Proffitt & Wood.

Latham & Watkins Elects 26 New Partners [Latham & Watkins]
NY Partners Switching Firms, NY Lawyers On the Move [NYLawyer.com]
More NY Partners Switching Firms [NYLawyer.com]
Firm Promotes 26 to Partnership [NYLawyer.com]
NY Practice Leader Switches Firms [NYLawyer.com]