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Cahill Gordon logo.jpgWe are now ready to confirm some of the reports flying around the internet about layoffs at Cahill Gordon. We now have multiple tipsters who work at Cahill who can confirm that there were significant layoffs at the firm last Thursday.

Our tipsters don’t know the numbers of cuts — and the firm has rebuffed our repeated requests for comment on the story — but some tipsters report that as many as ten percent of associates were let go.

The timing of last week’s cuts seemed to rankle some of our sources. On Wednesday, Cahill announced Half-Skadden bonuses. But on Thursday associates were called in for their “annual review” and told that they were being let go … and that they would not be receiving the 2008 bonuses the firm announced the day before.

As we understand it, first and second years were spared. But everybody else was fair game.

Working all of 2008 and still not getting a 2008 bonus has to sting. But the firm did give a 3 month severance package.

Still, the firm apparently doesn’t want to talk very much about their decision to fire people without giving them their bonuses. Tipsters weigh in after the jump.

double red triangle arrows Continue reading “Nationwide Layoff Watch: Cahill Gordon”

Texas flag over bonus money.jpgThe outlook for Texas based law firms is … bright? Texas Lawyer today reports that most top Texas firms are paying associates 2008 bonuses on par with what they received in 2007:

Lawyers with most of the firms say the 2008 associate bonuses are similar, or at the same level, as the bonuses the firms paid to their associates for 2007.

Vinson & Elkins is one of the firms that could be paying Texas associates a bigger bonus than New York associates.

In fact, Texas lawyers seem positive about the future of the Texas market:

[T. Michael] Wilson’s prediction for 2009 echoes that of the other managing partners. “We are guardedly optimistic,” he says. “Who knows what the next six months will bring in terms of the economy and the practice of law?”

That’s a lot different than what is coming out of New York. Remember this nugget from the Cravath bonus memo:

Given the uncertainty of the economy and the business climate going forward, we will not be able to address the issue of whether there will be any year-end bonuses in 2009 until this time next year. However, associates should be prepared for the likelihood that the economy and the Firm’s financial performance next year will not show a significant improvement over this year and they may receive significantly reduced or no year-end bonuses next year.

Better bonuses, lower cost of living, and great barbeque … Texas is looking very competitive isn’t it?

2008 Associate Bonuses at Large Firms in Texas on Par With 2007 [Texas Lawyer]

Earlier: Prior ATL coverage of associate bonuses

Really, it brings a new definition to the phrase “gilded cage.” The judge today denied a prosecutor’s request to revoke Madoff’s bail.

It’s pretty hard to convince a judge that a 70 year old man whose apartment is guarded by a phalanx of news reporters that jail is the only way to “protect the community.”

For more coverage on Madoff’s “genius” ponzi shenanigans, check Dealbreaker.

Madoff: Bail, No Jail [Dealbreaker]

ATL 2008 in review.jpgThis is the last in our series of Top Law School Stories of 2008. We gave you law students of the year, the most important law school trends, and best law school listservs of 2008. To round out the series, we’re declaring three schools our Law Schools of the Year.

This is not a U.S. News and World Report ranking. We chose these three schools based on their conduct as institutions in 2008 and the actions taken by their administrators. One school is down South, another is in the windy midwest, and the last is in New England. Check them out, after the jump.

double red triangle arrows Continue reading “Top Law School Stories of 2008 (Part 4): Law Schools of the Year”

funny-pictures-your-cat-totally-has-too-much-free-time2.jpgBack in November, we asked you to predict what your hours would look like for 2008, and we reported some worrisome results:

This year, the mighty have fallen, and so have their hours. While roughly 56% of associates still expect to hit at least 2000 hours in 2008, the number reaching 2200 is expected to fall from 35% to about 21%.

Meanwhile, the number of associates who won’t even make 1800 hours has roughly doubled, rising from 9.86% to 19.54%. Almost one in twelve associates don’t even expect to make 1600 hours, way up from 3.29% a year ago. (Remember, these numbers exclude stub years.)

But as gloomy as those results were, many commenters expected a much more dire view:

These reported hours seem WAAAAAAYYY high. People here are averaging maybe 80-110 hours per month. I myself would be happy to hit 1200 or 1300 by year-end.


These numbers are still too high. Everyone I talk to at my firm and others is super slow in corporate. The fact that only signle digits are below 1600 for almost all class years is suspicious. People hitting 1400 are having an above average year at many firms.


If I hit 1100, it’ll be a miracle (and a shitty Christmas).

Oh, and my small corporate group at a satellite office is looking at a range of approximately 700 – 1200. I think the group will likely be getting smaller…


Um, some of us are padding our hours and are still coming in at under 1600. There was literally no work for months, though things have picked up somewhat in the past couple of months.

And, let’s face it, you know last year’s billable hours must have been awful if the presiding partner of Cravath wants to scrap the system.

So, now that 2008 has come to an end, let’s see if last year’s predictions hold true. Today’s ATL / Lateral Link survey will focus on what your billable hours actually were.

Update: This survey is now closed. Click here to see the results.

Justin Bernold is a Director at Lateral Link, the sponsor of this Associate Life Survey.

Sports and the law Edelman.jpg[Ed Note: ATL is happy to welcome back Marc Edelman, sports-law professor/sports-law blogger. Marc will be giving ATL readers his take on the sports-law issues of the day on an ad-hoc basis.]

Sports executives are supposed to be shrewd. They are supposed to be savvy. They are supposed to follow sound legal advice, and they are not expected to write smoking gun emails.

Some big-name sports executives, however, keep fouling this up.

Last Thursday, Portland Trailblazers president Larry Miller sent an email to the other 29 NBA teams, asking them not to sign free agent forward Darius Miles. Miller sent this email because he did not want to incur the salary cap hit that would have been triggered if Miles plays in two more games this season. (For more details, see here).

According to various sources, Miller’s email was filled with legal banter such as claims that if any NBA team signed Miles, it would breach a “fiduciary duty as an NBA joint venturer,” and “tortiously interfer[e] with the Portland Trail Blazers’ contract.”

As a matter of law, however, Miller’s claims are bizarre, if not outright bogus. There is no fiduciary duty amongst NBA teams that forbids them from competing vigorously in the free agent market. In addition, there is no active player contract between a free agent player such as Miles and his former team.

Even more disturbing than these outlandish legal claims, however, is that Miller’s email seems to invite NBA teams to boycott Miles’s services. This reading of Miller’s email places the Blazers at risk of facing an antitrust lawsuit under Section 1 of the Sherman Act or a labor grievance under the anti-collusion provisions in the NBA collective bargaining agreement (Major League Baseball owners got into trouble for similar misconduct in the late 1980s) (pdf).

After the jump, more sports executives behaving badly.

double red triangle arrows Continue reading “Sports and the Law: Sports Executives Say The Darndest Things”


* Law firm Thompson Wigdor & Gilly has moved in to a loft that looks more like a start-up than a law firm. Their light, spacious, white leather studded office doesn’t fool anyone….or does it? [The New York Times]

* SCOTUS will hear a major reverse discrimination case brought by white fire-fighters who say they were not promoted because of their race. [The Christian Science Monitor]

* A South African appellate court reinstated corruption charges against Jacob Zuma, the leader of the ruling party and probable next president. [The New York Times]

* U.S. government regulators are urging Citigroup to replace chairman Winfried Bischof in hopes that it will restore investor confidence in the bank. [International Herald Tribune]

* Los Angeles litigator William W. Vaughn, who defended Dan Rather against slander in 1983, died last week. [Los Angeles Times]

* New York judge Ronald Ellis will decide today whether to revoke Madoff’s bail and send him to prison. Ellis has made thousands of bail rulings including a case involving a French acrobat whose paraglider got caught on the Statue of Liberty’s torch. []

* Thanks to ATL’s night and weekend readers, we’re making a surge in the 2008 Weblog Awards. It’s time to get the morning voters involved. Remember you can vote once every 24 hours. [2008 Weblog Awards]

2008 Weblog Awards finalist badge Best Law Blog.jpgThanks to our readers, we won the ABA Journal’s Blawg 100 News & Politics catagory, but things aren’t looking so hot for ATL right now in the Best Law Blog contest of the Weblog Awards. Our friends at the Volokh Conspiracy, a most excellent legal blog, are killing us (and everyone else).

Alas, we didn’t focus on the contest until it was well underway. Because you can vote multiple times — once every 24 hours, until the contest ends on Tuesday, January 13, at 5 p.m. (EST) — we probably should have launched a “get out the vote” effort earlier.

Based on the voting so far, it looks like many of you haven’t noticed the contest yet. But there are still a few days left before the voting closes. If you’re the kind of person who likes to vote on things over the internet, please send the Weblog Awards crew our kind regards. Happy Friday!

Best Law Blog [2008 Weblog Awards]

Alex Kozinski David Lat.jpg* Law students across the country are struggling to find jobs, so what are law deans doing about it? They’re spending more time calling up kids trying to convince them to matriculate to law school. Pedagogical excellence, one tuition check at a time. [TaxProf Blog]

* Do you want to see what happens when judges start a rock band? I mean a real one and not the more common definition that involves a Playstation or an Xbox. If your interest is piqued, check out Deaf Dog and the Indictments at the Kennedy Center this Sunday. [Kennedy Center]

* Ignoring people really does work sometimes. [What About Clients?]

* Did you know there was a blog for Mormon lawyers? [Mormon Lawyers]

* A Jamie Lynn Spears lookalike wants $2 million from LAX for being used as a Jamie Lynn Spears decoy. I think we’ve just come up with the plot of “Dave II.” [Popsquire]

* Don’t forget, David Lat is out there on the West Coast right now. Stop by at one of his various events and talk about what you’d like to see on ATL in 2009. [Above the Law]

pay freeze salary freeze pay cut law firm.jpgWe’ve been reporting on the Biglaw salary freeze heavily over the past month. Earlier this week, we did a round-up of firms that had announced their intention to keep 2009 salaries at 2008 levels.

At that point, we knew of sixteen firms that had sent memos to their associates notifying them that raises were not forthcoming. While certainly unpleasant, everyone acknowledges that it’s more welcome than layoff news.

Today, we’re getting e-mails from several associates who are freaking out that the freeze is on at their firms, based on their first paychecks of 2009. Their paychecks came in last night at 12:01 a.m. and they are the same amount as paychecks last month. Here are the unconfirmed freeze reports we’ve received so far…

Mayer Brown:

Mayer brown checks just popped at last years levels. So apparently there is a freeze, maybe, but no memos on it yet. Please investigate.

Today was the first pay day in 2009 for Mayer Brown NY. In the past, our first pay check of the year automatically reflected salary increases. No such increase today. Smells like a pay freeze?!? With the added courtesy of letting ADP announce it instead of management.

(UPDATE (6:05 p.m.): Mayer Brown spokesman Bob Harris says the firm “has not yet announced its plans for lawyer compensation in 2009″ and that it usually makes the decision in February.)

Steptoe & Johnson:

Steptoe & Johnson froze salaries. What stands out about this is that they did not send a memo or anything telling associates salaries would be frozen, or saying when/if the position would be reconsidered. Today was our first payday, and they just issued everyone the same checks they were getting last year. No comment. No memo. No explanation. Typical douche-baggery.


They haven’t made any announcements of a salary freeze. They just haven’t announced any salary increases and continue paying the old salary. When I looked at the employee system to check the amount of tomorrow’s paycheck, it shows that I will be paid the same salary as last year.

Not everyone is freaking out. A reassuring voice, after the jump. Also, Ballard Spahr and RatnerPrestia have officially put the freeze on, with a memo and a press release, after the jump.

double red triangle arrows Continue reading “Biglaw to Associates: ‘Surprise! Your salary is frozen’?”

champagne glasses small.jpg

The winter wedding announcements are often a prestige wasteland, but we’re actually quite pleased with the caliber of the couples we’ve been able to round up for the first 2009 edition of Legal Eagle Wedding Watch (which admittedly includes some entries from late 2008).

Here are your contestant couples:

1. Bella Sewall and David Wolitz

2. Daniela Jampel and Matthew Schneid

3. Jaime Teitelman and Howard Wachtel

Click on the link below to read more about these newlyweds.

double red triangle arrows Continue reading “Legal Eagle Wedding Watch 12.21-1.4: Winter Thrill”

William and Mary Marshall Wythe School of Law Above the Law blog.jpgMaybe William & Mary School of Law administrators were checking in on the ATL Idol competition over the summer. The Law School Dean Search Committee’s methods for choosing a new dean sure sound familiar:

Hi. After vetting well over 100 candidates and conducting ‘airport’ interviews over two weekends (one in DC, the other here in Williamsburg), the Law School dean search committee has chosen 5 finalists who will be coming to campus for interviews over the next 6 weeks. There may be a 6th candidate, but that has not yet been determined.

Hey, ATL Idol turned out well enough (didn’t it?). Why shouldn’t William & Mary law students have a more active role in choosing the new dean? They at least deserve a chance to meet the candidates.

Students will have the opportunity to meet each candidate in a ‘town hall’ (large group, question & answer) setting. We will provide dates and times as schedules crystallize.

Check out the list of W&M Law Dean finalists after the jump.

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