Willkie Farr & Gallagher

Earlier this month, we asked: What’s Going On At Kirkland & Ellis? Some observers wondered whether K&E, arguably the nation’s best overall law firm, was experiencing an unusually high number of prominent partner departures.

We received some interesting responses from Kirkland sources, some defending the firm and some more critical. Let’s hear what these readers had to share with us….

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Back in December, some associates at Kirkland & Ellis expressed some displeasure about their bonuses. Now, make no mistake, the K&E bonuses still beat the market by a healthy amount; they just didn’t beat the market by as much as they usually do (at least according to some sources; under an individualized bonus system, reactions will vary).

In our bonus post, we wondered about K&E’s financial performance in 2013. Could the firm — which could very well be the nation’s finest law firm — have had a less than stellar year?

Associates might not be the only ones dissatisfied with their compensation. Sources point to a fair number of prominent partner departures over the past few months, in one of K&E’s top practice areas….

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Is it our imagination, or is the 2013 bonus season unfolding at a glacial pace? Maybe because these bonuses are just the reheated bonuses from last year, they feel like they’re coming out of the fridge.

Cravath announced on Monday. Skadden announced on Tuesday. Cleary announced on Wednesday. Nobody announced on Thursday (as far as we know; if we missed your firm’s announcement, please email us or text us (646-820-8477)).

Today we got the Friday afternoon bonus news dump. We have announcements from Willkie Farr and Shearman & Sterling. What are these two firms doing?

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In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.

Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.

Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.

We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?

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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.

Near the entrance of the Calyon Building, the previous headquarters of Dewey & LeBoeuf, lies Jim Dine’s “Looking Toward the Avenue,” a triumvirate of headless statues inspired by the Venus De Milo. Where lie the visages of this homage to the prototypical form of Venus and furthermore, in the aftermath of Dewey, where have the pieces of this former empire landed?

Since May of 2012, there have been numerous articles inciting gossip and foretelling the troubles of Biglaw, but few have offered a retrospective of the overall trends in lateral moves from Dewey since the closure of the firm. The “largest winner” of the Dewey sweepstakes was Winston & Strawn, which added 23 partners (about 11% of those who moved in the final month), including Jeffrey Kessler, a titan of antitrust law who has represented every players’ union in the “big four” sports in the United States. Approximately seventy lawyers followed Kessler’s group.

Which other firms fared well in picking up Dewey lawyers?

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It’s hard out here for a big-busted woman. Although being a well-endowed woman has its advantages, it can present problems as well. For example, if you are a large-breasted but not plus-size woman, finding an appropriately sized bra isn’t easy (or so I’m told).

That brings us to the latest profile subject in Bloomberg Law’s excellent series on “stealth lawyers” — attorneys who have left the law to pursue other passions. Today’s stealth lawyer is a big-busted woman who encountered difficulty in locating lingerie for herself.

So she launched her own business to cater to this market, trading Biglaw for big breasts. Let’s meet her….

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Beneath the skin of many a suit-sporting lawyer beats the heart of a writer. Law offices across the land are stocked with aspiring novelists, poets, journalists, and others who long to write things other than credit agreements or motions to dismiss.

Perhaps you’re a literary type who went to law school on a lark but long to return to the world of arts and letters. If so, keep reading to learn about how to make that dream a reality….

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So you think you’re pretty funny? If you have an excellent sense of humor that you feel is going unappreciated within the stuffy legal profession, you should apply to work for us here at ATL.

But there are other avenues that comedically inclined counselors can explore. For example, you can ditch your Biglaw job to try and make it as a comedian.

Check out the latest installment of the Career Alternatives video series being produced by our friends at Bloomberg Law. It features a prominent comedian, one you may recognize from his many television appearances, who in a prior life worked as a lawyer….

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* Now that Barack Obama has secured his seat as a two-term president, in-house counsel in the financial sector can kiss their dreams of Dodd-Frank being repealed goodbye. Here are some issues to think about in light of its new footing. [Corporate Counsel]

* “We’re in the early innings of adjusting what value means.” And these days, it looks like “value” is synonymous with “making less money.” Given the results of this third quarter analysis, it’s quite clear that flat is still the new up for Biglaw. [WSJ Law Blog]

* Blow my whistle, baby? A DLA Piper partner filed a $4M suit against the Office of the Comptroller of the Currency on claims he was maliciously prosecuted as revenge for whistleblowing. [Daily Business Review]

* After being arrested on domestic violence charges, it seems that Steven Guynn of King & Spalding has left the firm. He doesn’t need to sweat his unemployment, because his house is for sale for $3.3M. [Am Law Daily]

* From Biglaw to Midlaw: Morrison Cohen, a midsize firm, managed to poach a partner from Willkie Farr. But how? Apparently this guy was no longer interested in billing “$900-plus” per hour. [New York Law Journal]

* Former Congresswoman Gabrielle Giffords will be present at Jared Lee Loughner’s sentencing hearing today, though it is unknown if she herself will speak. His expected sentence is life without parole. [ABC News]

He got an offer. Did you?

Truth be told, I’m not a fan of law firms giving offers to 100 percent of their summer associates. Whatever happened to selectivity? Given how perfunctory the hiring process is, there has to be at least one mistake in any summer class of decent size, right?

A commenter on our last post about offer rates put it well: “[A] 100% offer rate is not always a good thing. If we don’t want to work with the little weirdo who managed to slip through by pretending he was normal in 20-minute increments in callbacks, there’s a good chance the other SAs don’t either. Firms shouldn’t be so captured by the desire to have 100% offer rates that they give offers to people with serious social issues or work product problems, particularly in small offices where their general offensiveness will really have an opportunity to shine.”

Another reason I don’t like 100 percent offer rates is that I enjoy hearing funny stories of summer associate misbehavior, which often culminate in a no offer or a cold offer. You can share such stories with us by email or by text message (646-820-8477; texts only, not a voice line).

Alas, Biglaw firms are not obliging me. Let’s find out which firms are indiscriminately doling out offers to their summers….

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