Profits Per Partner

  • What's happening to the compensation of top partners at one major firm.

    Biglaw, Money, Partner Issues, Partner Profits

    A Biglaw Firm Plays With Its Partner Pay Scale

    Top partners are getting their pay cut at one leading law firm. Why?

    14 Comments / / Apr 10, 2013 at 11:08 AM
  • Lawyer Bubble RF Steven Harper Steven J Harper

    Bankruptcy, Biglaw, Billable Hours, Books, Job Searches, Lateral Moves, Law Schools, Money, Partner Issues, Partner Profits

    An Interview with Steven Harper, Former Kirkland Partner and Author of ‘The Lawyer Bubble’

    Should you go to law school? Is working in Biglaw still worth it? A former Kirkland & Ellis partner shares his thoughts.

    24 Comments / / Apr 9, 2013 at 6:04 PM
  • dislike button

    Attorney Misconduct, Bankruptcy, Biglaw, Constitutional Law, Facebook, Federal Judges, Guns / Firearms, Insider Trading, Morning Docket, Partner Issues, Partner Profits, SCOTUS, Supreme Court

    Morning Docket: 03.22.13

    * If you’re looking for an easy résumé line, then consider joining the Supreme Court bar, an elite organization that doesn’t check to see if its members are still alive. All you need is three years of practice, two signatures, and $200. [Associated Press]

    * Stanley Chesley, the master of disaster himself, was disbarred for his “shocking and reprehensible” conduct in a fen-phen case. His wife, U.S. District Court Judge Susan Dlott of the Southern District of Ohio, must be oh so pleased. [Courier-Journal]

    * Howrey like dem apples now? Some of Howrey’s former partners, including ex-chairman Robert Ryuak, all lined up to make deals to delay lawsuits from firm’s bankruptcy trustee, Allan Diamond. [WSJ Law Blog (sub. req.)]

    * This Biglaw firm’s future was just a little bit dimmer in 2012, with a 4.9 percent dip in profits per equity partner. This is unexpected from Milbank, a number 3 seed in our March Madness competition. [Am Law Daily]

    * The NRA’s New York affiliate filed suit challenging the state’s new gun laws, claiming that ban on assault weapons violates the Second Amendment — because this is clearly what the founders intended. [Reuters]

    * Raj Rajaratnam’s younger brother, Rengan Rajaratnam, was indicted yesterday in a federal insider-trading scheme tied to the Galleon case. You can’t fault the guy, he was just trying to keep it in the family. [Bloomberg]

    * Sorry, Dean Boland, but you’re not going anywhere. A judge denied the attorney’s request to withdraw from Paul Ceglia’s Facebook case. He must be wishing there were a dislike button now. [Law 360 (sub. req.)]

    8 Comments / / Mar 22, 2013 at 9:08 AM
  • Uhh... thanks for the bonus?

    American Bar Association / ABA, Biglaw, Law Schools, Money, Morning Docket, Murder, Partner Issues, Partner Profits

    Morning Docket: 02.22.13

    * Law School Transparency? Nay, Biglaw Transparency! Peter Kalis, global managing partner of K&L Gates, just opened the kimono wide on his firm’s financial performance in an “unusually detailed” fashion. [Wall Street Journal (sub. req.)]

    * Talk about a pain in the pocketbook: according to American Lawyer, profits per partner and revenues are slowly swirling down the drain at several Biglaw firms, with shrinkage of 16 percent in PPP at one firm. [Thomson Reuters News & Insight]

    * The ABA is just now thinking of trying to find someone who will audit the graduate employment data that law schools release each year. Gee, it only took 15 fraud lawsuits to get the ball rolling. [National Law Journal]

    * Oh my God, you guys, carrying six figures of law school debt on your shoulders is “unsustainable” in the long run, especially when your salary sucks. This is new information that no one’s heard before. [News-Gazette]

    * Former U.S. Attorney Jim Letten is now Tulane Law’s new assistant dean for experiential learning. For the school’s sake, hopefully he’ll be able to control his students better than he did his AUSAs. [Tulane Hullabaloo]

    * “You’re a cold-blooded murderer and I’ll stare you down until I die.” Drew Peterson was sentenced to 38 years in prison for the murder of his third wife. A sequel to the Lifetime movie is likely forthcoming. [Reuters]

    2 Comments / / Feb 22, 2013 at 9:02 AM
  • USPS-post-office

    Biglaw, Defamation, Education / Schools, Gender, Job Searches, Law Schools, Money, Morning Docket, Murder, Partner Issues, Partner Profits, Ridiculousness, SCOTUS, Sexism, Sonia Sotomayor, Supreme Court, Texas, Women's Issues

    Morning Docket: 02.04.13

    * Aside from writing powerful opinions that will last the ages, being a mentor “is the most valuable thing” this Supreme Court justice can do. Sonia Sotomayor: motivational speaker? [New York Times]

    * Aww, poor Biglaw partners. You want bigger cuts of your firm’s profits, but according to the latest Peer Monitor report, expectations like that are incredibly “unrealistic.” [WSJ Law Blog (sub. req.)]

    * This actually isn’t something women like to shop for: the $200 million class action suit over the Greenberg Traurig “boys club” is currently being held up in two federal courts by arbitration and forum shopping issues. [Am Law Daily]

    * With news that the legal industry is shedding jobs faster than the ABA can accredit more unnecessary law schools, career services officers must be hanging their heads in shame. [Thomson Reuters News & Insight]

    * Dear law schools, your crappy business model is making us take a look at all crappy higher education business models, and we don’t like what we’re seeing here. Pls hndle thx. XOXO, Moody’s. [Washington Post]

    * This is justice, Texas style: District Attorney Mike McLelland says the reward fund for tips in the brutal slaying of ADA Mark Hasse will grow to an “astronomical amount” until the killers are found. [Dallas Morning News]

    * This lawyer allegedly had a fling with his sister-in-law out of the goodness of his heart, and in return, she accused him of sexual assault. Now he’s suing her for $7 million. You can’t make this sh*t up. [New York Post]

    * In trying to get $700 in tickets dismissed, this lawyer says the U.S. Postal Service is immune from state and local traffic regulations. Other USPS immunities include not losing my mail on a regular basis. [USA Today]

    0 Comments / / Feb 4, 2013 at 9:08 AM
  • 'Jail? No thank you.'

    Biglaw, Deaths, Law School Deans, Law Schools, Lindsay Lohan, Money, Morning Docket, Partner Profits, Securities Law

    Morning Docket: 02.01.13

    * Congratulations to Cadwalader Wickersham & Taft! The firm saw its first revenue increase in three years, with profits per partner jumping up 11.6 percent, yet they didn’t top Cravath’s bonuses. Rude. [Am Law Daily]

    * Thanks to the firm’s association with Ponzi schemer Nevin Shapiro, Shook Hardy & Bacon was accused of aiding and abetting in securities law violations and is facing a multimillion-dollar suit. [Miami Herald]

    * Lawyer glut? What lawyer glut? Let’s open some new law schools, yayyyy!!! Despite the fact that applications are at their lowest in a decade, new schools are still throwing their doors open wide. [Wall Street Journal]

    * With the dean of Seattle University School of Law stepping down, Annette Clark, she of the most epic St. Louis University Law resignation letter, may get a second bite at the proverbial deanship apple. [National Law Journal]

    * “Flattery doesn’t get you anywhere in this court.” Wooing the judge won’t work, so Lindsay Lohan’s new lawyer has a tough row to hoe — he had to pick up Shawn Holley’s pieces AND deal with his client. [Fox News]

    * Ed Koch, former mayor of New York City and judge of “The People’s Court,” RIP. [New York Times]

    0 Comments / / Feb 1, 2013 at 9:05 AM
  • Casey Anthony: Paralegal?

    Biglaw, Drugs, Immigration, Law School Deans, Law Schools, Marijuana, Money, Morning Docket, Murder, Paralegals, Partner Profits, Technology

    Morning Docket: 01.29.13

    * “[W]e cannot continue as a nation with 11 million people residing in the shadows.” And we especially can’t have all those people in the shadows without hundreds and hundreds of drones in place. Civil liberties be damned! [Huffington Post]

    * According to this Wells Fargo survey, Biglaw did quite well in terms of revenues last year. Given that PPP was up nearly five percent, it’s now appropriate to bitch about why your bonuses weren’t even bigger than they were. [WSJ Law Blog (sub. req.)]

    * “Being a lawyer is a damn good profession.” To be fair, it could be an even better profession if things in legal education were subjected to some serious change, and Hofstra Law’s new dean seems to understand that. [New York Law Journal]

    * Stoners everywhere would like to know when the federal government is going to legalize marijuana, but to be frank, they should thank their Lucky Charms they’re not getting prosecuted in states where it is legal. [TIME]

    * Russia is officially trying to prosecute a dead man — a dead lawyer, no less. That said, we’re pretty sure it’s safe to say that not even Yakov Smirnoff himself could come up with a reversal for this one. [New York Times]

    * Oh my god, some of Lat’s pop culture prophecies are coming true: Casey Anthony wants to become a paralegal. Nancy Grace is in the process of birthing a herd of cows over Tot Mom’s ambitions. [ABC News]

    * The grand jury in the JonBenet Ramsey murder case thought there was enough evidence to indict the Ramseys on child abuse charges. This would’ve been a great thing to be outraged about in 1999. [CBS News]

    * I’ll be tweeting from the LegalTech show today. Follow me on Twitter to get all the latest updates. [Twitter]

    8 Comments / / Jan 29, 2013 at 9:19 AM
  • layoffs RF

    Biglaw, Layoffs, Partner Issues, Partner Profits

    Nationwide Layoff Watch: Partners in Peril

    Associates and staff have borne the brunt of law firm layoffs over the past few years. But, according to some recent surveys, partners are far from immune….

    13 Comments / / Jan 7, 2013 at 2:06 PM
  • 'Should I stay or should I go now?'

    Biglaw, Eric Holder, Facebook, Health Care / Medicine, Insurance, Midsize Firms / Regional Firms, Money, Morning Docket, Partner Issues, Partner Profits

    Morning Docket: 11.09.12

    * Since Obamacare’s here to stay, states are scurrying to meet the health care law’s deadlines. Better hurry up, they’ve only got a week left to make a decision on insurance exchanges. [New York Times]

    * “It’s been an interesting and tough four years. I just really don’t know. I don’t know at this point.” Two days after the election, it looks like Barack Obama may have to replace Eric Holder after all. [Blog of Legal Times]

    * Managing partners at midsize firms are feeling good about about business in the coming fiscal year, and they’re even projecting higher profits per partner. And unicorns, too! [National Law Journal (reg. req.)]

    * Where did a portion of the money behind Harvard Law professor and Senator-elect Elizabeth Warren’s Massachusetts race come from? Biglaw firms like Nixon Peabody and Mintz Levin. [Corporate Counsel]

    * Apparently a convicted abortion doctor killer is trying to intervene in Paul Ceglia’s ownership case against Facebook via kooky letter. Sorry pal, but there can be only one Jonathan Lee Riches. [Wall Street Journal]

    2 Comments / / Nov 9, 2012 at 9:06 AM
  • Baby with Rainbow Flag

    Biglaw, Crime, Department of Justice, Election 2012, Election Law, Gay Marriage, Law School Deans, Morning Docket, Partner Issues, Partner Profits, SCOTUS, Supreme Court, Violence

    Morning Docket: 09.25.12

    * Will the members of the Supreme Court announce which gay marriage issues they’ll be hearing this term any time soon? With Proppsition 8 appeal and several DOMA appeals on hand, there’s certainly a lot for them to choose from. [CNN]

    * It’s beginning to look a lot like Biglaw, everywhere you go: lawyers are miserable, clients are unhappy, and apparently profits per partner are all to blame. Gee, thanks for those rankings, Am Law, they were really helpful. [DealBook / New York Times]

    * Instead of arguing over font size, the Department of Justice argued law yesterday during closing arguments in its attempts to convince a three-judge panel to strike down South Carolina’s voter ID statute. [National Law Journal]

    * Unlike Elizabeth Warren, he’s no “Fauxcahontas”: Kevin Washburn, the dean of the University of New Mexico Law School, has been confirmed by the Senate to oversee the Bureau of Indian Affairs. [Washington Post]

    * If you’re going to allegedly slash someone’s face in an attempt to defend your honor, at least do it with class like this Columbia Law grad, and use a broken champagne flute as your weapon of choice. [New York Post]

    5 Comments / / Sep 25, 2012 at 9:08 AM
  • Dewey LeBoeuf LLP new logo DL

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Money, Partner Issues, Partner Profits

    Dewey Know Which Partners Signed On To The Partnership Contribution Plan? Yes — And How Much They’ll Pay, Too

    Which high-profile ex-partners of Dewey & LeBoeuf have signed up for the global settlement, and how much are they paying?

    12 Comments / / Sep 21, 2012 at 6:05 PM
  • Dewey LeBoeuf LLP new logo DL

    Biglaw, Citigroup, Dewey & LeBoeuf, Dissolution, Partner Issues, Partner Profits, Wells Fargo

    Dewey Know Who’s Next? (Reprise)

    Which major law firm might follow in the footsteps of Dewey and LeBoeuf? Let’s discuss….

    38 Comments / / Sep 17, 2012 at 6:20 PM
  • Dewey LeBoeuf LLP new logo DL

    Biglaw, Citigroup, Dewey & LeBoeuf, Money, Partner Issues, Partner Profits

    Dewey Collude With Citi To Screw Individual Partners?

    A former Dewey partner alleges that the firm and Citibank worked together to improve the firm’s cash position at the expense of individual partners.

    9 Comments / / Sep 4, 2012 at 1:32 PM
  • dartboard pen on target inside straight

    Biglaw, In-House Counsel, Partner Issues, Partner Profits

    Inside Straight: Do Law Firms Undervalue Good Lawyering?

    A partner at a major law firm shares his thoughts on business development with one of our in-house columnists, Mark Herrmann.

    24 Comments / / Aug 23, 2012 at 10:11 AM
  • Greenberg Traurig small logo

    Biglaw, Heller Ehrman, Jack Abramoff, Money, Partner Issues, Partner Profits

    Commendable Candor from Greenberg Traurig

    Greenberg Traurig’s CEO opens up on a variety of subjects, ranging from the firm’s recent capital call to the measures it has taken to respond to prior scandals.

    15 Comments / / Aug 21, 2012 at 2:26 PM
  • Dewey LeBoeuf logo large

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Money, Partner Issues, Partner Profits

    Dewey Have Data on How Much Partners Got Paid? Yes — Thanks to the Partner Contribution Plan

    Here are spreadsheets showing how much Dewey’s 109 most highly compensated partners earned in 2011 and 2012, along with how much they are being asked to contribute in “clawbacks” under the “Partnership Contribution Plan.” Enjoy!

    31 Comments / / Aug 16, 2012 at 1:07 PM
  • dartboard pen on target inside straight

    Biglaw, In-House Counsel, Minority Issues, Money, Partner Issues, Partner Profits, Women's Issues

    Inside Straight: Analyzing ‘Black-Box’ Compensation

    What are the advantages and disadvantages of a “black box” compensation system, in which nobody knows how much anyone else is earning?

    21 Comments / / Aug 16, 2012 at 11:04 AM
  • David Bernick

    Biglaw, David Boies, General Counsel, In-House Counsel, Lateral Moves, Litigators, Musical Chairs, Partner Issues, Partner Profits

    Musical Chairs: Star Litigator David Bernick Joins Boies Schiller

    A closer look at Boies Schiller’s hiring of David Bernick, former general counsel of Philip Morris and former Kirkland & Ellis partner.

    13 Comments / / Aug 15, 2012 at 7:49 PM