Isn’t Jewel v. Boxer a great case name? Doesn’t it sound like one of the classics of the 1L curriculum, right up there with Pierson v. Post, Hawkins v. McGee, and International Shoe?
It is definitely a case that lawyers ought to know. This appellate decision, handed down by a California court in 1984, remains the leading case on how to divvy up attorneys’ fees generated by cases that were still in progress at the time of a law firm’s dissolution. Dewey care about this case? Absolutely.
But Jewel might not maintain its status as the key precedent on so-called “unfinished business,” at least if one judge has anything to say about it. Check out an interesting ruling that just came down from the Southern District of New York, arising out of one of the biggest Biglaw bankruptcies of recent years….
The list of firms cutting associate salaries keeps growing. Yesterday, the Connecticut-based firm Robinson & Cole reduced all associate and counsel salaries by $10,000. According to the Connecticut Law Tribune:
On Wednesday, Hartford-based Robinson & Cole, which has about 240 attorneys, confirmed that it has decided to cut associates’ and counsel’s annual salaries by $10,000. The pay cuts are effective immediately and affect incoming and current associates and counsel in all nine offices in the Northeast and Florida.
Discussions about salary cuts began last month, according to Anne Elvgren, chief marketing officer at Robinson & Cole.
First years at Robinson are getting dangerously close to losing the six figure dream:
Starting salaries vary by office, according to law firm officials, but entry-level attorneys earn $115,000 at Robinson & Cole, according to information the firm provided to NALP, the association for legal career professionals.
After the jump, we wonder how Robinson’s managing partner is enjoying his new gig.
Let’s start with the good news. Robinson & Cole, a well known Connecticut-based firm, has named a new managing partner. John B. Lynch (Holy Cross undergrad, UVA law school) was elected managing partner of the firm yesterday. Congratulations.
Sadly, it appears that one of his first acts was to layoff associates and staff. Thirty people are out today at Robinson & Cole. Above the Law just obtained the following press release:
Robinson & Cole has eliminated 11 counsel and associate attorneys, and 19 support staff positions. These cutbacks are taking place among the firm’s seven offices in the Northeast. Other prudent expense reductions will be made across the firm.
“Meet the new boss. Same as the old boss.”
On the bright side, all systems are a “go” for Robinson in terms of incoming first years and the 2009 summer program. That’s pretty good news in today’s market.
Read the full statement from Robinson & Cole after the jump. Good luck to our brothers in UCONN territory.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.