Partner Issues

Earlier this week, we wrote about the lavish payments that Dewey & LeBoeuf made to its former executive director, Stephen DiCarmine, and its former chief financial officer, Joel Sanders, in the year leading up to the firm’s bankruptcy filing. Each man received almost $3 million in salary, bonuses, and expense reimbursement. (There’s additional detail and number crunching over at The Lawyer.)

Today we bring you additional interesting information from — and speculation about — the Dewey bankruptcy filings. For starters, who are the two Dewey partners who received more than $6 million each in the year leading up to the Chapter 11 petition?

double red triangle arrows Continue reading “Biglaw Blind Item: The $6 Million Men
(Plus additional tidbits about Dewey partner compensation.)

Ed. note: This is the latest column by our newest writer, Anonymous Partner. In case you missed his prior posts, they are collected here.

I did not know what to expect. Almost a month had passed since my initial invitation for a senior Biglaw personality to contact me, and someone had. After a bit of back-and-forth regarding confidentiality and logistics, we had arranged to meet. Even though I had intended to script out questions, my natural inclination to wing it took over. I had done some research on my subject (web bio, history of his firm, etc.), but was otherwise unsure of how things were going to go. My subject is not actively practicing anymore (and I would love to hear from an high-level “Insider” currently working in-house or in Biglaw), but he was able to give me both historical perspective and sagacious insight into how Biglaw has become what it is, and what it can do to meet the challenges ahead.

The setting of our meeting turned out to be very apropos of the glimpse into Biglaw history that I was going to receive. The wood paneling, uniformed attendants, and heavy furniture all but sang “elite,” and reflected the long traditions of the institution whose name was on the door. Considering I was meeting with a former leading partner at a white-shoe firm, it seemed an appropriate location. His suggestion, not mine of course. I had been there before, for a firm event back when I was an associate, but the mood this time was different, because the assumption underlying this meeting was that I, as a current Biglaw partner, belonged in some measure to this world. Debatable, but I definitely felt more comfortable than on my previous visit as a guest. I was aware throughout that we were literally sitting in the shadows of many Biglaw offices, and at the same time, that we were mere blocks from the place where my late grandfather (who came to America as a refugee) had made his living.

How did our meeting go?

double red triangle arrows Continue reading “Buying In: Meeting a Biglaw Insider”

A Biglaw football commercial?

* Dewey know whether this revised partner contribution plan will be well received? Well, from the looks of it, the firm’s executive committee members are being asked to repay a greater sum of money, so people will probably be happier. [Am Law Daily]

* Arnold & Porter’s William Baer, the man nominated to lead the DOJ Antitrust Division, received a warm reception from the Senate Judiciary Committee, and it was all because of his “if it ain’t broke, don’t fix it” attitude. [National Law Journal]

* What do you get when you cross a Biglaw patent associate from Steptoe & Johnson with an NFL Redskins quarterback? A pretty cool hobby, and a new Adidas commercial. [Capital Business Blog / Washington Post]

* Up next in this judicial gong show, Madam Justice Lori Douglas’s lawyer has asked the Canadian Judicial Council to recuse itself and terminate the legal ethics inquiry against her client. [Full Comment / National Post]

* You saw this coming: attorneys for the man identified as Victim 2 in the Jerry Sandusky trial have released voice mails allegedly left by the former coach, and plan to use them in a civil suit against Penn State. [CNN]

* A lawyer’s former mistress who attempted to kill his wife on several occasions is expected to take a plea deal today in exchange for a 20-year prison sentence. Sounds like a soap opera plot. [Houston Chronicle]

* “Don’t say another word, because you’re just pissing me off.” Former adjunct law prof Clark Calvin Griffith said some interesting things to a judge during his indecent exposure sentencing hearing. [Pioneer Press]

Equity partner! Yay!

Major law firms like to tout their dedication to furthering women’s success in the law, but if you look more closely, you’ll find that many Biglaw firm talk a big game, but have little proof back up their words. Take, for example, the fact that according to a recent survey conducted by the National Law Journal, the percentage of women lawyers in partnership positions has increased only 2.8 percent since 2003. In the meantime, the National Association of Women Lawyers says that the percentage of women in equity partnership positions has been “fixed” at just 15 percent for the past 20 years.

Well, whoop-dee-doo at all of these wonderful statistics that we’ve been choking down for the past decade. Women are apparently supposed to be happy about this kind of painfully slow progress. But what about the firms that have actually honored their commitments to women lawyers?

Let’s take a look at the numbers….

double red triangle arrows Continue reading “Which Biglaw Firms Actually Make Women Equity Partners?”

Ed. note: This is the latest column by our newest writer, Anonymous Partner. In case you missed his prior posts, they are collected here.

With summer in full swing, and my column approaching its two-month anniversary, I thought it might be a good time to go through the mailbag. One of the main reasons I wanted to do this column was the opportunity to discuss the practice of law in Biglaw with people other than immediate colleagues and friends. Expand my horizons and all that.

Well, on that front, the readership has obliged, and I am grateful. So please continue sending me emails with column ideas and questions. I am pretty prompt in responding to email-based questions, even as I wish there was more time to talk through issues. (Reader comments, while at times helpful, frightening, and funny, will have to be a one-way interaction — mostly because of time constraints.)

Anyway, let’s take a look at some of the messages I have gotten so far (with identifying information masked to protect the senders), and my general thoughts regarding the issues raised within….

double red triangle arrows Continue reading “Buying In: A Mid-Summer Mailbag”

* Presidential campaigns for Election 2012 are focusing in on the Supreme Court and future appointments to the high court, and Vice President Joe Biden is really not a fan of Justice Scalia. [POLITICO]

* Dewey know what the ramifications of D&L’s $50M insurance policy will mean for the resolution of the failed firm’s bankruptcy proceedings? Well, Steve Davis is probably happy. [Thomson Reuters News & Insight]

* Howrey going to pay off all of our creditors? Probably by dipping into the coffers of the 70 other law firms that took on our defectors. Have fun with all of those subpoenas. [Capital Business / Washington Post]

* The percentage of women in Biglaw partnership positions is up 2.8% since 2003, but the equity gender gap remains. At least some progress is being made. [National Law Journal]

* “I thought your papers were terrific, I just disagreed with them.” Kleiner Perkins isn’t a fan of backhanded compliments, so the firm is appealing a judge’s decision to keep Ellen Pao’s case out of arbitration. [Reuters]

* James Holmes, the alleged shooter in the Aurora movie-theater massacre, is scheduled to make his first court appearance today for an initial advisement. Thus far, he’s facing at least 71 charges. [Denver Post]

* The class action suit filed against Cooley Law over its allegedly deceptive employment statistics has been dismissed, much like the NYLS lawsuit before it. More on the dismissal to come later today. [WSJ Law Blog]

* “Sex isn’t going to buy me dinner.” Michael Winner, the attorney accused of offering “pro boner” assistance to female inmates, claims in an interview that the allegations against him are “just plain false.” [WSB-TV Atlanta]

D&L's former partner settlement.

* Our thoughts and prayers go out to the people of Aurora, Colorado. [CNN]

* Dewey know why the deadline for agreeing to a proposed $103.6M settlement for former D&L partners has been pushed back? It looks like these people are still unhappy with the very thought of parting with their money. [Am Law Daily]

* Four judicial nominees were approved by the Senate Judiciary Committee to fill federal district court positions in California, New York, and Pennsylvania. Now it’s time to hurry up and wait for a final vote on the Senate floor. [National Law Journal]

* “This is a garden variety sex harassment case.” That may be true, but when you’re dealing with a high-profile venture capital firm, and the plaintiff is an ex-Biglaw associate, you’re probably going to get some really bad press. [Washington Post]

* Opening statements in Sheriff Joe Arpaio’s racial discrimination trial were heard yesterday. Even “America’s Toughest Sheriff” might cower in light of plaintiff representation by Covington & Burling and the ACLU. [CNN]

* Washburn University School of Law is planning to build a new facility for $40M. Unfortunately, the school will never be able to amass the funds needed to kill all the gunners, but we can still dream. [Kansas City Star]

Ed. note: This is the latest column by our newest writer, Anonymous Partner. In case you missed his prior posts, they are collected here.

We all know how difficult to stay at a healthy weight while living the Biglaw lifestyle. Too many hours sitting down, with desk drawers nicely stocked for a quick bite in between phone calls. Sitting inside office buildings all day, with easy access to vending machines stocked with soda and junk food. Carb-heavy breakfasts for client meetings and lateral interview sessions. Food orgies masquerading as CLE sessions and firm meetings. Business development lunches and dinners at fancy restaurants with comprehensive wine and scotch lists. Seamless Web. Two cities, three depositions, one week — equaling plane snacks, room service, and more restaurants. Year in, year out, for a decade or two or three. No wonder your typical Biglaw partner has seen better days waistline-wise.

I know firsthand that it is not easy to drop those Biglaw pounds. But the effort is worth it. In my case, it took some real discipline to arrest what threatened to be a constant addition of one or two pounds a year. I was getting chunky, and as I noted in my first column, I only saw extremes in my older colleagues. I am not a runner, and while working out at home added on some muscle, there was no way I was going to see real results without changing my eating (and drinking) habits.

Everyone has their favorite weight loss tips. Here’s what has worked for me, in terms of keeping the extra pounds away….

double red triangle arrows Continue reading “Buying In: Biglaw Beach Bodies?
(Or: Avoiding excessive PPP — poundage per partner.)

As we noted in Morning Docket, many former partners of Dewey & LeBoeuf are less than pleased with the proposed settlement between the D&L bankruptcy estate and ex-partners of the firm. Preliminary reactions “rang[e] from skepticism to anger,” according to Am Law Daily.

In the words of Mark Zauderer, counsel to almost 60 former Dewey partners, “I’m not seeing overwhelming enthusiasm for the proposal.” A former D&L partner was even more blunt: “I think this is destined to fail. Let the trustee [of a Chapter 7 liquidation] go for it.”

But not everyone holds such negative views. One ex-partner — who claims that he’s being asked to pay more than he thought he owed, and that he’ll have to postpone his retirement by several years due to Dewey’s downfall — told Thomson Reuters that he will vote for the deal anyway. “My view is there’s nothing less desirable than having this drag out for years,” he said. “I’m willing to pay a lot of money to have this go away.”

Dewey have other issues besides how to deal with former partners? Most certainly. There are pressing problems regarding the disposition of client files, as well as issues regarding retirement benefits for former Dewey & LeBoeuf employees….

double red triangle arrows Continue reading “What Dewey Do With Thousands of Boxes of Client Files?
(And bad news for D&L 401(k) participants.)

* “I think this is destined to fail.” People are not happy with the proposed settlement plan for former Dewey partners, but who are they kidding? These people don’t exactly like to part with money — not even to hand out bonuses. [Am Law Daily (sub. req.)]

* Andrew Levander, a partner at Dechert LLP, is representing ex-Barclays chief executive Bob Diamond. Diamond hasn’t been charged with anything, but this white-collar defense lawyer’s apparently been on his side since 2010. [WSJ Law Blog]

* Money talks: lawyers and law firms are the top donors by industry to presidential campaign funds, with Kirkland & Ellis leading for Romney, and DLA Piper for Obama. [Capital Business Blog / Washington Post]

* Escándalo! Louis Freeh’s report revealed that PSU’s “seriously deficient” counsel billed a whopping 2.9 hours on an incident involving Jerry Sandusky’s locker room shower with a young boy. [Centre Daily Times]

* But here’s where the football chatter comes in (not that I know a lot about football): legal experts say Freeh threw an “incomplete” with this report, because it didn’t go far back enough in time. [New York Daily News]

* Sorry, lady, but you didn’t need to attend a Justin Bieber concert for his music to allegedly cause permanent damage to your ears to the tune of $9M. All you really needed to do was turn on the radio. [Chicago Tribune]

Page 75 of 1181...717273747576777879...118