Orrick

We’re midway through Biglaw’s second quarter, and this will be the third week in a row we’re covering law firm layoffs or buyouts of some variety. This just goes to show that no matter how well a firm does, it’s always looking to do better, and the easiest way to do so is by managing human expenses.

Sometimes the firms attempting to trim their ranks are members of the “Super Rich,” with high revenues per lawyer (at least $1 million) and even higher profits per partner (at least $2 million). Other times, these firms are rich but not super-rich — firms that generally saw “modest, hard-won gains” last year, according to the American Lawyer.

The firm we’re writing about today falls into the latter group, with relatively small financial gains in 2013. Despite this, it’s still offering “very generous” packages to inspire employees to walk away….

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Woody Allen

* Woody Allen’s lawyer, Elkan Abramowitz, responds to Dylan Farrow’s account of alleged sexual abuse at the hands of her famous father. [Gawker; Gothamist]

* Sound advice from Professor Glenn Reynolds on how not to increase applications to your law school. [Instapundit]

* What is a “nitro dump,” and will it provide information about who (or what) killed Philip Seymour Hoffman? [ATL Redline]

* “Is Elena Kagan a ‘paranoid libertarian?’ Judging by [Cass] Sunstein’s definition, the answer is yes.” [Reason via Althouse]

* A petition of possible interest to debt-laden law school graduates: “Increase the student loan interest deduction from $2,500 to the interest actually paid.” [WhiteHouse.gov]

* Vivia Chen wonders: Is Amy Chua, co-author of The Triple Package (affiliate link), being attacked as racist in a way that it itself racist? [Time]

* Yikes — journalists around the country have been receiving “a flurry of subpoenas in recent months,” according to Jeff Kosseff of Covington & Burling. [InsideTechMedia]

* Congratulations to Orrick’s 15 new partners — an impressively diverse group, from a wide range of practice areas and from offices around the world. [Orrick Herrington & Sutcliffe]

One of the most noteworthy deals of the new year is Google’s recently announced $3.2 billion acquisition of Nest Labs, a maker of Internet-connected devices like thermostats and smoke alarms that was founded by former Apple engineers. Orrick, a firm known for its strong roster of tech clients, is advising Nest. The Orrick team is led by the firm’s chairman, Mitchell Zuklie.

That’s not the only noteworthy news out of Orrick this week. Yesterday the firm announced its 2013 associate bonuses. How are they looking?

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There’s once a dream that was OrrickPillsbury.

It was exactly a month ago that we first heard that Orrick was looking to join up with (read: bail out) Pillsbury. Today, the thrill is gone. Orrick and Pillsbury announced they were calling off the mega-merger saving us, our planned Very Special Episode of Legal Eagle Wedding Watch.

So what happened?

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The ruins of a house on the outskirts of Tacloban, capital of Leyte.

Law firms and the legal profession have a long and distinguished tradition of contributing to the public interest. Earlier today, we highlighted five Biglaw firms that are pro bono all-stars.

Most pro bono cases involve clients and causes here in the United States. But in today’s increasingly global world, law firms look beyond borders when it comes to helping the needy.

Yesterday we commended Skadden for its generous support of Typhoon Haiyan relief efforts in my ancestral homeland of the Philippines. And today we recognize several other law firms that have joined in this worthy cause….

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Biglaw firms have a problem. They can’t get their senior partners to retire. Or to pass along their clients to younger partners fast enough.

The reasons for this unwelcome phenomenon are straightforward. First, today’s Biglaw senior partners are making too much money. Would you retire if you were making seven figures and billing 1200 to 1500 hours a year? Of course not. Especially if you are helping to support your children. Or in this age of the 70-year-old rainmaker, a grandchild’s “education” as a communications major at the top party school in this year’s rankings.

Kidding aside, I know that many senior partners have very valid reasons for continuing to maintain their Biglaw practices. But that does not mean that what works for them at an individual level is what is good for Biglaw as a whole. In fact, I think the “sticky senior” issue is the greatest long-term threat to the continued viability of many Biglaw firms….

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Would you rather be a great lawyer or be perceived as being a great lawyer?

For many people, I think the answer to that question varies over time: At age 30, you’d rather be a great lawyer. At age 60, you’d rather be perceived as being a great lawyer.

Why?

Because, over time, your reputation may come to track reality. If you’re perceived as great when you’re 30, but you’re actually no good, that truth may out over time. As you age, your reputation may catch up with you.

By the time you’re 60, your professional horizon will have shortened, and it’s less likely that the world will unearth your incompetence. If you’re perceived as being a great lawyer when you’re 60, you may well make it to retirement unscathed.

What of law firms? Would you rather that your firm be great or be perceived as being great?

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Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

Merger season has arrived, yielding a fruitful harvest of potentially enormous mergers between Patton Boggs and Locke Lord and between Pillsbury and Orrick. Perhaps the most interesting aspect of these mergers is the potentially “super” practice groups these mergers will make.

Patton Boggs has recently undergone a period of mild strife, as we detailed several months ago. Though they lost a significant number of energy and environmental attorneys after the fallout of the Chevron litigation, this merger with Locke Lord could be effective not only as a stopgap, but could also vastly strengthen each firm’s energy department….

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There’s good news, and there’s bad news. Or maybe good news with a catch, as we mentioned in Morning Docket.

The good news: Greenberg Traurig is hiring. The catch: the positions don’t pay $160,000 a year (or even $145,000, the new starting salary in GT’s Miami and Fort Lauderdale offices).

Following the lead of Kilpatrick Stockton, Orrick, and other Biglaw firms, Greenberg Traurig has created some new non-partnership-track attorney positions. They pay less than traditional partnership-track — or, in GT parlance, shareholder-track — positions, but the billable-hour requirements are lower and the training is better.

What do these positions look like? Let’s find out….

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Lana Landis: Give her all your money.

* It’s Alito time, bitch! If you were wondering about any of the cases in which the justice recused himself last year, his latest financial disclosure report is quite telling. [Blog of Legal Times]

* Yet another appellate court has ruled that Obama’s recess appointments to the NLRB were unconstitutional. Alright, we get it, just wait for the Supreme Court to rule. [TPM LiveWire]

* Hey baby, nice package: With stock awards soaring, general counsel at some of the world’s largest companies had a great year in 2012 in terms of compensation. [Corporate Counsel]

* NYU professors want Martin Lipton of Wachtell Lipton to swallow a poison pill and step down from the school’s board of trustees over his ties to the University’s unpopular president. [Am Law Daily]

* Now that they’ve stopped acting like the doll they were arguing about in court, MGA has put aside its differences with Orrick to amicably settle a fee dispute in the Bratz case. [National Law Journal]

* Who needs to go on a post-bar vacation when you can take a vacation while you’re studying for the bar? This is apparently a trend right now among recent law school graduates. Lucky! [New York Times]

* A man puts assets into his pin-up wife’s name on advice of counsel, she files for divorce, and the firm allegedly takes her as a client. This obviously happened in Florida. [Daily Business Review (sub. req.)]

* David Schubert, the deputy DA who prosecuted Paris Hilton and Bruno Mars, RIP. [Las Vegas Sun]

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