Latham & Watkins

The new Vault Rankings are out. It’s a fun day for large law firms — a day when their prestige is matched against that of their peers.

The day is even more significant this year, since it appears that so-called “top” Biglaw firms are now paying bonuses largely in “prestige points.”

Vault ranks the prestige of firms based on nearly 17,000 surveys sent to law firm associates all across the country. Just by looking at the top ten firms, I think we can agree that associates who fill out these surveys have no memory and have really enjoyed this period of salary stagnation.

As I mentioned last week when talking about associate hours, it seems Biglaw partners really know what they’re doing. Whether we’re talking about prestige or associate hours, partners have figured out that associates will take less money and like it….

double red triangle arrows Continue reading “2013 Vault Law Firm Rankings: Prestige Can’t Buy You Money”

The National Football League seems to be an unstoppable force of nature, led by a commissioner, Roger Goodell, who has managed to collectively bargain his way into being judge, jury, and executioner of league policy. NFL players often have to go outside of league offices and to United States courts to have their grievances heard, except that the NFL is just as indomitable in court as it is everywhere else.

But if you are going to defeat the NFL in court, claiming collusion is a better bet than most. The NFL has been busted for it before. And it’s really not that hard to infer when 32 or so owners get together to make a market crushing deal….

double red triangle arrows Continue reading “Collusion And The Latest Attempt To See If The NFL Is Subject To Laws”

In our last full post on Dewey & LeBoeuf, the fast-fading New York law firm, we tried to find some moments of humor in this generally depressing story. Now we’ll return to the hard — and gloomy — Dewey news. (We mentioned several D&L items in today’s Morning Docket.)

Without further ado, let’s find out what’s going on….

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Or at least that’s what one Biglaw firm seems to think.

Over the weekend, lady lawyers got a serious case of the vapors when word got out that a firm that’s had its fair share of bad press was busy promoting a cooking class for one of its women’s initiatives programs.

Yes, a cooking class — because nothing says “I’m a successful attorney” quite like the ability to serve masterfully prepared hors d’oeuvres (bonus points if the cooking is done while barefoot and/or pregnant).

It’s almost enough to make these women wish they were Lathamed….

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... to take a survey.

The ATL School and Firm Insiders Survey continues to roll along at a nice clip: we expect our 3,000th respondent any minute now. While we’re pleased with this response, of course we encourage all of you who haven’t yet to take 3-5 minutes and head over here to take our absolutely confidential survey. Thanks in advance.

Last week, we shared a few broad trends we’re seeing, and today, we’ll get a little more specific and name some names.

Among other things, the survey asks law students for their perceptions of a select group of firms as potential employers. In our analysis, we’ll look at which firms are considered the most (and least) attractive by law students. We’ll also consider how these perceptions jibe with what lawyers at these firms are telling us….

double red triangle arrows Continue reading “ATL Survey Update: Student Favorites and the Ghosts of Layoffs Past”

Touchdown Biglaw!

* New York is considering allowing nonlawyer ownership of equity in law firms. If that somehow means we’ll see less Jacoby & Meyers commercials on television, then I’m definitely all for it. [Thomson Reuters News & Insight]

* Football’s labor lockout legal fees: which Biglaw firms scored huge touchdowns thanks to their collective bargaining work? The three top billers included Latham, Dewey & LeBoeuf, and Patton Boggs. [Am Law Daily]

* The sanctions for filing a 9/11 conspiracy claim cost $15K, but forever being remembered as the lawyers who got benchslapped for drafting “a product of cynical delusion and fantasy” is priceless. [Reuters]

* Jared Loughner is still incompetent to stand trial, and he’ll remain in the loony bin for another four months. You know what that means? Time to make this kid swallow some more pills. [Arizona Republic]

* A panel of law professors over at Harvard thinks that while law schools have problems, but they’re certainly not in crisis mode yet. Not yet? You hear that Team Strauss/Anziska? Needs moar lawsuits! [Harvard Crimson]

* Well, that was a short-lived victory. Heather Peters, the former lawyer who beat Honda in small claims court, is preparing to do battle with the car company in Superior Court. [Los Angeles Times]

Well, spring bonuses are officially late. Last year, Sullivan & Cromwell announced spring bonuses on January 21. Here we are on January 23rd, and we’re still waiting.

It’s too early to worry. Cravath essentially check-raised S&C with spring bonuses last year. There’s a good chance S&C is just trying to figure out how to avoid having that happen again.

I still think spring bonuses will be coming. There are just too many firms paying out more than Cravath in terms of bonus. Cravath partners might be getting high fives from partners around Biglaw for helping to keep bonuses low. But there are so many firms blowing past Cravath (and Cravath followers) that, eventually, the very smart people Cravath hires will wake up and realize they can make more money elsewhere.

The latest firm to make Cravath bonuses look small is Latham & Watkins. Their median bonus is especially more generous than CSM’s as people become midlevel or senior associates….

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The next few State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.

In general, lateral hiring activity in Texas has increased substantially in the past 12 months, with even greater momentum as we head into 2012. Corporate/securities and IP are the busiest major practice areas across the state; however, there are differences between the Dallas, Houston and Austin markets. Overall, the Houston market is the strongest, followed by Dallas, with Austin a distant third. In all markets, partners with solid books of portable business are viable and firms are always on the hunt for new partner-level talent….

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SCOTUS has spoken on S&C's screw-up.

We’ve previously written about the mailroom of death at Sullivan & Cromwell. To make a long story short (read our prior posts for the full background), a mailroom mix-up at 125 Broad Street caused an Alabama death-row inmate to miss a deadline for filing an appeal. The Eleventh Circuit rejected the condemned man’s attempt to reopen his case.

Presumably feeling bad for what had happened, S&C appealed to the Supreme Court. The firm hired a leading SCOTUS advocate — former Solicitor General Gregory Garre, now a partner at Latham & Watkins — to argue that prisoner Cory Maples shouldn’t forfeit his life because of S&C’s screw-up.

This morning, the Supreme Court handed down its ruling in Maples v. Thomas. What did the high court have to say?

double red triangle arrows Continue reading “Supreme Court Rules on Sullivan & Cromwell’s Mailroom of Death”

We hope you’ve enjoyed following the Career Center’s Top Partners series through which we’ve recognized Biglaw partners from around the country who exemplify what it means to be an exceptional partner who associates are actually happy to work for. Thanks to all the readers who took the time to submit such glowing nominations and give some well-deserved recognition to the 60 partners highlighted in this series.

Today we conclude with the best partners in the smaller legal markets of Chicago, Dallas, and London. While the markets in which they work may be smaller, their firms are some of the biggest names in Biglaw: Winston & Strawn, Sidley Austin, Katten Muchin, K&L Gates, SNR Denton, and Latham & Watkins.

Let’s see who the final six partners are….

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