Steven Davis

Dewey Bonuses Are Going to Be Late This Year

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If this were a nature show, Dewey & LeBoeuf would be a prey animal that looks normal to the naked human eye, but you can deduce that it’s seriously wounded because of the vultures circling around overhead. Everybody seems to be waiting for things to go from bad to worse.

Of course, according to Dewey management, everything is going just fine. I mean, what do you expect them to say? It’s Dewey, not Gondor. The managing partner isn’t going to have press conference where he screams, “Abandon your posts! Flee! Flee for your lives!”

Instead, we have this quote from Dewey Chairman Steven Davis in the Wall Street Journal (subscription): “We are producing the best work in the history of the firm and producing some of its strongest ever results… The overwhelming majority of our partners are excited about our future.”

Uh huh.

Well, apparently those “strongest ever results” aren’t translating into “cash money” for people who work at the firm….

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Dewey Owe Too Much to Certain Partners?

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On Friday, we broke the news of lawyer and staff layoffs at Dewey & LeBoeuf. There have been reports of the firm experiencing financial issues, and these cost-cutting measures appear to be part of a larger plan of attack. According to the memo sent out by chairman Steven H. Davis, Dewey plans to “reduc[e] the number of lawyers and administrative staff globally by approximately 5% and 6% respectively.”

But associates and support staff aren’t the only ones who will be feeling the pain. It appears that Dewey is seeking sacrifices from certain partners as well….

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Dewey Have Comment on Recent Developments?
Yes — Firm Is Cutting 5 to 6 Percent of Personnel

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The rumor mill has been churning nonstop over the past week about Dewey & LeBoeuf. In our recent stories about the firm, we’ve discussed reports of financial difficulties, partner departures, and possible layoffs of lawyers and staff.

During this time, firm management has remained fairly tight-lipped. But earlier this evening — a Friday evening, of course — the firm broke its silence. Chairman Steven H. Davis sent out a firm-wide memo, acknowledging the rumors and confirming that yes, Dewey will be conducting some layoffs and engaging in other cost-cutting measures.

Let’s take a look at the memo….

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Yes — Firm Is Cutting 5 to 6 Percent of Personnel“

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Where’s LeBoeuf? An Update on Doings at Dewey

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Over the past few weeks, we’ve been receiving interesting reports about Dewey & LeBoeuf. They were nothing but vague rumblings for a while, but they’ve now reached the point where we have enough to write about.

So let’s check in and ask: How do things stand at this major, top-tier law firm? In other words, “Where’s LeBoeuf?”

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Associate Bonus Watch: Dewey Get Bonuses? Why Yes, You Do!

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This actually happened last Wednesday — but, due to the less-than-exciting nature of the news, we doubt anyone has been prejudiced by our delay in reporting it. The law firm of Dewey & LeBoeuf announced associate and counsel bonuses, on the Sullivan & Cromwell scale (i.e., the Cravath scale, but topping out at $42,500 instead of $37,500).

Even if not surprising, it is nice that Dewey is matching market. As you may recall, Dewey made our list of the top ten most generous law firms — i.e., ten firms that generally match Cravath-level bonuses, despite having significantly lower profits per partner than Cravath. Partners at these firms take a financial hit to keep their associates happy.

Just like last year, there are a few footnotes to the Dewey bonus news that merit comment. And there’s some positive news for top performers, too….

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Biglaw Firms Poised To Help Japanese Relief Efforts

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After the Haitian earthquake last year, we saw law firms step up in a big way to support relief efforts down there. Hopefully we will see the same reaction to the ever-increasing tragedy unfolding in Japan. Given an 8.9 a 9.0-magnitude earthquake, a massive tsunami, and a nuclear disaster that is already the second-worst nuclear accident in history, you hope that Japan will get all the help that the world can provide.

If anything, the nuclear meltdown angle is obscuring the humanitarian crisis currently happening in Japan. We know that Americans can’t focus on something unless there is some tangential relationship to something bad that could happen here, but you’d think that the possibility of 10,000 deaths would be enough to trigger our humanitarian concern without obsessing about apocalyptic scenarios.

Thankfully, a couple of law firms aren’t waiting for Japan to start glowing before making efforts to help…

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Associate Bonus Watch: Dewey & LeBoeuf Matches
(With footnotes, one good.)

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This shouldn’t come as any great surprise, but Dewey & LeBoeuf has announced bonuses for its U.S. counsel and associates. And — shocker — they are following the 2010 Cravath bonus scale.

For the most part; there are some caveats and prerequisites. And there’s also some extra upside, for selected top performers.

You know you’re getting deeper into bonus season when the announcements start getting complicated. The early memos — generally straight Cravath matches, with very few qualifiers — are simple and straightforward.

So let’s look at the Dewey & LeBoeuf memo, shall we?

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(With footnotes, one good.)”

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Dewey & LeBoeuf: A Bunch of Nazis?

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The firm of Dewey Ballantine was never known for being particularly PC. From a 2004 article by Anthony Lin, for the New York Law Journal:

Nearly one year after lawyers at Dewey Ballantine infuriated members of the Asian-American community by performing a stereotype-laden parody song at their annual dinner, the law firm is again dealing with allegations of racial insensitivity….

On Monday, an employee sent a firmwide e-mail advertising the availability of some puppies for adoption. Douglas Getter, a London-based American who heads Dewey Ballantine’s European mergers and acquisitions practice then sent a firmwide reply.

“Please don’t let these puppies go to a Chinese restaurant!” Getter wrote in his e-mail.

Adolf Hitler Dewey LeBoeuf Zieg Heil Sieg Heil Above the Law blog.jpgNow Dewey has merged with LeBoeuf Lamb. Happily, it appears their firm cultures are a good match. Check out this email exchange appearing below — and note that Partner X came from the LeBoeuf Lamb side of the marriage….

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