Cahill Gordon & Reindel

Musical Chairs: A Cahill Gordon Partner’s Mysterious Departure

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Recent news about Cahill Gordon has been very positive. In December, the firm announced year-end bonuses that made Cravth’s widely-adopted year-end bonus scale look paltry by comparison. Cahill can afford to be generous: last month, Am Law reported that the firm enjoyed record profits and revenue in 2010, with profits per partner last year of $3.23 million.

(This has caused some to wonder whether Cahill will be paying spring bonuses, like Cravath and many other firms. In light of the spring bonus phenomenon, how does Cahill compensation compare to Cravath et al.? One Cahill source suggests Cahill is still ahead, but we’d love to see the numbers run by someone who knows the full Cahill scale. Feel free to send us an email, or comment on this post.)

The most recent news out of Cahill, though, is strange rather than glowing. Last week, a prominent partner was escorted out of the building by security and removed from the Cahill website. A firm-wide email then went out informing all staff that he was no longer a member of the partnership. (We haven’t seen this email, but feel free to send our way.)

So who’s the Cahill Gordon partner in question?

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Associate Bonus Watch: Cahill Gordon DESTROYS the Cravath Bonus

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Hey now, this is just coming into our tips box, but we’ve now got two sources reporting that Cahill Gordon will be giving between $15,000 and $20,000 in bonuses to all associate classes this month.

And then giving bonuses according to the standard 2010 Cravath scale in January — “at least” the Cravath scale, according to our tipsters.

UPDATE: We’re up to more sources than I can count. This is solid; Cahill is blowing up the bonus market.

So, some Cahill Gordon associates are going to take home total bonus money that’s $20,000 $35,000 (see the UPDATES after the jump) more than Cravath associates and associates at firms that blindly followed Cravath.

Cahill Gordon, the new definition of competitive market salary in New York City!

But wait, there’s more. Because of the mid-year bonuses that Cahill associates already received, they’re actually making even more money than most of their Biglaw peers (there are UPDATES after the jump)…

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Associate Bonus Speculation: Will Cahill Double the Market In Secret?

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Bonus season is in full swing, and it appears that most Biglaw firms are falling in line behind Cravath. The chances of a firm besting the Cravath scale in any meaningful way grow slimmer everyday.

But according to one tipster, there is still hope for associates, and it’s coming from an unlikely place. A tipster believes that Cahill Gordon intends to double the Cravath bonus. But not all at once. Cahill doesn’t want to look like it’s breaking the market.

Now it might sound weird for Cahill to be willing to pay more but not wanting to get credit for it — but let’s check out what this tipster has to say…

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Quote of the Day: She’s No Miss Congeniality

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At a big law firm you are doing so much mindless work and so much suck-uppery. And I am not a suck-up kind of person.

– Ann Coulter, conservative pundit and former Cahill Gordon & Reindel associate.

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Fall Recruiting Open Threads: Vault 61 – 80 (2011)

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With fall recruiting gearing up, and the lateral market warming up, we continue our annual series of open threads about the law firms featured in the Vault prestige rankings. These threads provide ATL readers with a forum to discuss the different firms and their various strengths and weaknesses.

The end of the Vault 100 is in sight. We’re covering the firms in batches of 20 now. Here are the firms ranked #61 to #80, which will provide today’s discussion fodder:

61. Greenberg Traurig, LLP
62. Holland & Knight LLP
63. Fish & Richardson P.C.
64. Sonnenschein Nath & Rosenthal LLP
65. Cahill Gordon & Reindel LLP
66. Foley & Lardner LLP
67. Perkins Coie LLP
68. Nixon Peabody LLP
69. Patton Boggs LLP
70. Kaye Scholer LLP
71. Hunton & Williams LLP
72. Reed Smith LLP
73. Steptoe & Johnson LLP
74. Chadbourne & Parke LLP
75. Howrey LLP
76. Bryan Cave LLP
77. Lovells (US) [now part of Hogan Lovells]
78. Katten Muchin Rosenman LLP
79. Crowell & Moring LLP
80. Schulte Roth & Zabel LLP

This is a very eclectic group, including a few New York-centric firms, some D.C.-dominated places, and a bunch of national and even international giants.

Let’s take a closer look at some of these shops….

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Morning Docket: 08.17.10

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Orly Taitz, Queen of the Birthers

* Former House majority leader Tom DeLay (R-TX) celebrates the Justice Department’s decision to drop its six-year investigation of his dealings with ex-lobbyist Jack Abramoff. [Washington Post]

* Speaking of money and politics, state judicial elections are being flooded with cash. [How Appealing]

* Two Stanford Law students strike a blow against California’s three-strikes law. [Los Angeles Times]

* Davis Polk, which has long had a soft spot for Asia (see first blockquote), launches a Hong Kong law practice. [Am Law Daily]

* The latest law firm to get work out of the BP oil spill: Cozen O’Connor. [Philadelphia Inquirer]

* Shocker: The Supreme Court won’t stay $20,000 in sanctions against Orly Taitz, “Queen of the Birthers.” [The BLT: The Blog of Legal Times]

* Musical chairs: Charles “Chuck” Greenberg — former head of Pepper Hamilton’s sports law practice, and the new managing partner and CEO of the Texas Rangers — is taking his team of sports lawyers to Reed Smith. [Am Law Daily]

* Crowell & Moring gets embroiled in litigation over legal fees and settlement money from a lawsuit arising out of the 1986 hijacking of Pan Am Flight 73 in Pakistan. [ABA Journal]

* Last week was a record week for Cahill. No wonder they paid out mid-year bonuses. [Cahill Gordon & Reindel]

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Associate Bonus Watch: Cahill Gordon Gives Out Mid-Year Bonuses

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Yes, you read that headline correctly. Out of nowhere, Cahill Gordon & Reindel has decided to give out a mid-year bonus. Not Cravath, not S&C, but Cahill Gordon. The same Cahill Gordon that is one of the few firms to have significant layoffs in 2010. This is the firm that could push the market towards mid-year bonuses?

Apparently so. A tipster reported the bonus scale to Above the Law. It’s not a huge amount of money, but it’s something….

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Quote of the Day: You Can’t Handle the Truth

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I’d rather not get into it. You’d fall off your chair.

– Leading First Amendment lawyer Floyd Abrams, declining to discuss with the New York Times what he and Cahill Gordon are charging the ratings agency S.& P.

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