Perkins Coie

Nationwide Salary Cut Watch: Perkins Coie Makes a Tiny Incision

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Salary Cuts.jpgMight this be the kindest cut of all? Perkins Coie just announced a salary cut for associates, but it’s rather small — and it was accompanied by good news.
Today a firm-wide voice mail from managing partner Robert Giles went out, announcing the following:

– an average 3.8 percent pay cut for Perkins Coie associates, effective September 1;
– deferred salary rollbacks in some offices — e.g., Menlo Park — until “our competitors in these markets rollback associate salaries” (hmm, sounds like an invitation to us); and
– an expression of confidence that there will be no more layoffs this year.

We reached out to Bob Giles, who confirmed the accuracy of the foregoing.
All in all, it’s on the mild side for bad news, sort of like the firm’s modest layoffs back in April (just 12 attorneys). No wonder Perkins employees seem to like the place so much.
P.S. Congratulations to Perkins Coie partner Harry Schneider, this year’s winner of the American Inns of Court’s Professionalism Award for the Ninth Circuit. We met Schneider at the Ninth Circuit Judicial Conference, where the honor was presented to him in person. Schneider successfully represented Guantanamo detainee Salim Hamdan in Hamdan v. Rumsfeld.
Earlier: Prior ATL coverage of Perkins Coie

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Legal Eagle Wedding Watch 2.15: First-Rate

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champagne glasses small.jpgThere was no LEWW last Friday because last week’s wedding pages were even bleaker than the Biglaw employment news. We’ve bounced back nicely, though, because Valentine’s Day fell on a Saturday this year, making this week’s weddings section a February feast of premium nuptial news.

We present three outstanding couples for your consideration:

1. Parisa Sabeti and Ted Zagat

2. Jessica Holzer and Hans Nichols

3. Kendall Burman and Eric Volkman

Check out these newlyweds’ résumés and pictures, after the jump.

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Updated Salary Freeze Round-up: Even More Firms on Ice

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pay freeze salary freeze pay cut law firm.jpgAs we noted in yesterday’s Morning Docket, even the New York Times has taken note of the salary freeze trend at law firms. The Times reached out to Above The Law’s own David Lat for the story:

Although many associates are angry about the freezes, others are relieved, said David Lat, founding editor of AboveTheLaw.com, a blog about law firms and the profession.

“There is this sense that firms didn’t act prudently during the boom and now they are getting religion, and that it’s better late than never,” Mr. Lat said. “Many associates we have spoken to think the freeze probably saved jobs.”

At the beginning of the month, we did a round-up of firms that have frozen 2009 salary rates at 2008 levels. That list was 16 firms long. Since then, quite a few other firms have announced freezes. Due to frequent requests, we’re updating the round-up list since the number of firms with freezes (that we know of) has more than doubled, to 33 32. Check out the as-comprehensive-as-we-can-make-it list, after the jump.

Recently announced salary freezes include “solid ice freezes” at Blank Rome and Townsend and Townsend and Crew; and “Slurpee freezes” at Bingham McCutchen, Fish & Richardson, and Texan firm Andrews Kurth.

Memorandums, as well as a new list of all firms with “solid ice” and “Slurpee” freezes, after the jump.

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Perkins Coie’s Vegas Vacation

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Perkins Coie logo.JPGYesterday, I mentioned that Fortune released a list of the Top 100 places to work. In that post I failed to note that Perkins Coie was ranked 82nd on that list.

According to Fortune:

A support staffer gave this impressive list of her benefits: $2,000 in technology flex plan allowance, $80 for wellness program participation, $475 for 20th anniversary with firm, $1,500 performance bonus, $50 Nordstrom gift card, $3,500 year-end bonus.

Well, tipsters report that Perkins Coie management is pumped about the news. Check out the firm-wide email and fun tipster responses after the jump.

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Fortune Lists Top 100 Companies to Work For

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Happy workers.JPGFortune has released its annual list of the top 100 companies to work for. Despite the general feeling of malaise in the legal industry, a few law firms made the cut.

The highest ranked law firm (number 21 overall) is Arnold & Porter. Fortune reports:

Law firm offers world-class benefits to staff and attorneys: 18 weeks’ paid leave for maternity and adoption, $5,000 for adoption fees, $30,000 for fertility services, free onsite fitness center, on- and off-site child care.

I guess a salary freeze that their peer firms in the Vault 20 are largely avoiding doesn’t trump a free gym.

Fortune also released a list of the top 20 companies that are great places to work and still hiring. No law firms made that list.

So I guess we’ll focus on other law firms in the top 100 after the jump.

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Nationwide Pay Freeze Watch: Perkins Coie And Fulbright Freeze, Schulte Does Not

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pay freeze salary freeze pay cut law firm.jpgAfter saying nice things about top Texas firms yesterday, our inbox was flooded today with news of a salary freeze at Fulbright & Jaworski.

As we understand it, the firm is only freezing salaries through the first quarter of 2009, so it’s a Slurpee freeze.

So much for Texas being the beacon of hope for the legal industry.

But, perhaps more surprisingly, Perkins Coie is also freezing salaries:

The 2009 economic picture remains extremely uncertain. Although we continue to have no debt and the firm is in excellent financial shape, we have determined to take a number of significant steps to ensure the firm’s financial health in 2009 for the benefit of all personnel.

The firm’s budget contemplates approximately a 10% reduction in average partner income in 2009, and partner draw percentages for January and February were significantly reduced in order to avoid any need to borrow funds. We have also frozen salaries for senior administrative staff who are evaluated on a calendar year basis. Most staff have salary adjustments on July 1 and no decision will be made on compensation adjustments applicable to them until that time.

We have also decided to hold associates at their current base salary levels. Associates will remain at their 2008 base salary for 2009, subject to two limited exceptions. Adjustments will be made to productivity build-ins for affected associates in the Bellevue, Seattle and Washington, DC offices, and changes will be made to address a few unique compensation arrangements previously scheduled for adjustment in 2009. New compensation memos will be distributed within the next few weeks.

I guess having partners that are tight with Obama isn’t enough to stave off a “solid ice” freeze. So much for unicorns.

But, after the jump, some positive news to report.

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Perkins Coie/Obama Fight McCain Over ACORNs

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Perkins Coie logo.JPGApparently, the activities of the Association of Community Organizations for Reform Now (ACORN) are now a matter of national import. The group, best known for absolutely nothing prior to a month ago, is now poised to “threaten the fabric of democracy,” according to Senator John McCain.

One might have expected the Obama campaign to take the knuckleball in the dirt, but there is only one October. Last Friday, the Obama campaign called in lawyers from Perkins Coie to harass USAG Michael Mukasey into harassing McCain to stop harassing Obama.

Perkins Coie partner Robert Bauer asked Mukasey to instruct special prosecutor Nora Dannehy to add McCain’s recent conduct to allegations of partisan misconduct within the Justice Department. According to The Blog of the LegalTimes:

[The letter] alleges that Sen. John McCain’s presidential campaign and the Republican Party made false claims of voting fraud as part of a Republican effort to influence the presidential election. The letter accuses Republican officeholders of calling on the Justice Department to investigate allegations of fraud, and Justice Department officials of spurring what he called “baseless” investigations.

The McCain camp responds after the jump.

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Anatomy of a Dissolution: So Much For 60 Days WARNing

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“Non-essential” Heller Ehrman people, it’s time to pack it up:

Heller Ehrman LLP Above the Law blog.JPGIt is with a great deal of regret that we write to inform you that we will not be able to pay you for work performed after today, Friday October 10 and, as a result, that your employment with the firm will be terminated today. We also expect that we will need to inform other employees over the following two weeks that we are unable to pay them any further and will need to terminate their employment. We do expect that we will be able to continue to pay some people for a longer period of time. Regular paychecks will be provided today but because of the volume of final paychecks we will need to prepare, it may take a few days to get your final paycheck to you. We know this is important to you but please be assured your colleagues in the Payroll Department will be working as hard and as quickly as they can to get you your paycheck.

These actions have been forced upon us by the two banks — Citibank and Bank of America — that control our ability to make any payments. Generally, they have refused to pay employees who we cannot convince them are necessary (as they define it) for the wind down efforts. We understand how upsetting this news is. You should continue your activities to serve clients, including, where applicable, to bill your time. Time billing and client service are two of the criteria the banks are examining in our continuing negotiations with them to maintain an orderly transition.

We want to thank you for your professionalism and forbearance to date and ask you to continue to proceed with the same degree of professionalism you have demonstrated during your valuable service to the firm and to its clients.

The Dissolution Committee

The rest of the bad news, after the jump.

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Fall Recruiting Open Thread: Vault 71-80 (2009)

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comparing.jpgThe Vault 100 march continues! In this series of open threads, we list the firms, and you all discuss their upsides and downsides. We’ll be wrapping this puppy up this week.
Here are the next ten (with prestige scores in parentheses):

71. Nixon Peabody LLP (5.218)
72. Hunton & Williams LLP (5.208)
73. Perkins Coie LLP (5.119)
74. Reed Smith LLP (5.057)
75. Patton Boggs LLP (5.050)
76. Chadbourne & Parke LLP (4.997)
77. Bryan Cave LLP (4.969)
78. Thacher Proffitt & Wood LLP (4.967)
79. Howrey LLP (4.926)
80. Schulte Roth & Zabel LLP (4.910)

Usually, we have fun with the “notable perks” chosen by Vault. But as we move down the list, the perks are becoming distinctly less notable — e.g., gym membership discounts, free parking, and “good views.” Oh well.
You know what to do! Have at it in the comments.
Earlier: Vault 100 Open Threads – 2009

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Everyone’s a Winner at These Five Law Firms

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Best Companies To Work For Fortune CNN Money Above the Law blog.jpgCongratulations to this quintet of five law firms, which just made Fortune magazine’s annual list of the 100 Best Companies To Work For (listed below in rank order):

19. Arnold & Porter: “Staffers get 12 weeks paid maternity leave and profit sharing of 7.5% of salary. The less you make, the less you pay for health-insurance premiums.”

Actually, a correction: 18 weeks (as of January 1, 2008).

31. Alston & Bird: “Both the legal and nonlegal staff get super benefits, including 90 days of paid maternity leave, coverage of fertility treatments, and concierge services.”

Concierge services? Fabulous. Atlantans, stop yer whining!

41. Bingham McCutchen: “They’re proud of their elite grads: 72 from nearby Harvard Law, 24 from Yale, and 20 from Stanford. They all start at $160,000 a year.”

55. Perkins Coie: “They value fun at this law firm. At 2007′s Lawyerpalooza battle of the bands, the Perkins Coie rock & rollers brought down the house (and took home the top prize).”

See also Nixon Peabody: “Fun is not prohibited here.” Speaking of which…

66. Nixon Peabody: “The law firm excels on policies for GLBT employees (a 100% rating from the Human Rights Campaign); it targets 3% of billable hours annually for pro bono work.”

Please send us any theme songs that are composed to commemorate these honors. Thank you.
100 Best Companies To Work For (2008) [Fortune]
Earlier: Bingham McCutchen: Land of the Amazons?

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