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Senior associates are an endangered species, declares humor columnist The Snark, who found that the common denominator among them is inspiration. Because, after all, something makes them buck the trend of hanging up the billable time clock in exchange for that in-house gig. And something persuades them to resist the urge to jump off the grid and start training dogs instead of drafting proxy statements. Read on to find out what The Snark thinks makes senior associates stick around the large law firm.
The legal tabloid AbovetheLaw.com sparked a firestorm of rumors when it reported Friday that Sutherland Asbill & Brennan was laying off 30 to 40 associates firmwide. Sutherland's managing partner, Mark D. Wasserman, acknowledged that the 480-lawyer firm has cut its associate ranks. But he said the firm has asked fewer than 15 associates to leave. He said the firm's summer associate class is "absolutely not" affected by the cuts, nor are next fall's incoming associates.
Two years ago, a Virginia judge tore Rambus to pieces for allegedly shredding documents while preparing to sue rivals for infringement. On Tuesday, the Federal Circuit discarded Judge Robert Payne's order written during a patent fight between the chip licensing company and Samsung. The panel wrote that Payne didn't have the jurisdiction to issue the order criticizing the company's tactics. That's because Rambus had already offered to pay Samsung's attorney fees, effectively ending the district court case.
It was fun while it lasted. In 2007, The Am Law 100, the top-grossing law firms in the U.S., finished the best sustained growth spurt since began tracking firm financials in 1984. For the first time, firms showed five consecutive years of better-than-average growth in revenue per lawyer and profits per partner. This Golden Age for law firms has been fueled by surging demand for high-end legal services and unrelenting rate hikes. But now, there are signs the great run may be over.
China's increased openness to the global economy means more opportunities for U.S. companies, says Greenberg Traurig's new Shanghai-based partner, Peter Neumann, who spoke last week at a Georgia Tech conference on doing business in China. But he warned that it's important for companies to enter the Chinese market well-informed, because the rules continue to change rapidly. China is still "a work in progress," said Neumann, who has worked in China since 1993. The most common pitfall? Taking shortcuts.
After 26 years at Fox Rothschild, attorney Louis W. Fryman is leaving to join Conrad O'Brien Gellman & Rohn, a 35-lawyer litigation boutique, saying he decided to make the move because he was facing the prospect of mandatory retirement. When Fryman became managing partner of Fox Rothschild in 1985, the firm had 50 lawyers in one office. Fryman oversaw a period of significant growth, through mergers and acquisitions, and the firm now has 425 lawyers in 14 offices spread across seven states.
Morrison & Foerster has closed its beleaguered Orange County office after being dealt a final blow: the departure of its office leader and another partner to Manatt, Phelps & Phillips. Dean Zipser and Thomas Umberg will start at Manatt in early May. MoFo confirmed the closure in a press release, saying its scale of practice in that market no longer justified a full-service office. Its Orange County clients will be served from other markets, including Los Angeles and San Diego, the release said.
Wolf Block is starting down the merger path with the acquisition of a small Delaware firm, Oberly Jennings & Rhodunda. Name partners Charles M. Oberly III and Kathleen M. Jennings will join as partners in the firm's business litigation practice and name partner William J. Rhodunda will join as a partner in Wolf Block's real estate and environmental land use practices. The addition brings a substantial white-collar and corporate investigations practice to Wolf Block's Wilmington office.
The Supreme Court has upheld Indiana's controversial voter ID law, which critics say will discourage the poor, the elderly and minorities from casting ballots. The law requires voters to present current government-issued photo ID, and for those who cannot, it establishes a procedure for validating votes after election day. The Court found that the state's interest in protecting the integrity of the voting process outweighed the insufficiently proven burdens the law imposes on voters.
Houston-based Vinson & Elkins announced Monday a realignment that will strengthen its presence in New York and abroad. Seven partners will relocate to New York to focus on capital markets and M&A while others will move to London, the Middle East and Asia. The firm also is bringing on a new hire in Hong Kong, former Linklaters partner Christopher Walker. Growth at Vinson & Elkins has only recently become feasible, as aftershocks from its ties to the Enron debacle subside.
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