Here’s a real shocker for you: When a partner leaves a healthy law firm, he and his or her new firm can be required to return to his or her old law firm the profits made the cases he or she brings along. These obligations do…more
Dewey & LeBoeuf’s inglorious galactic implosion changes all of the rules; it was not too big to fail, it was, however, far too big and corroded to fail in the relatively orderly way others before it failed.
Gosh, I could have had a V – 8.
Trial lawyers often say that when they try a case, they always wind up trying three cases: The case they plan on trying, the case they actually try and the case they should have tried.
Good Lord! Please make it stop.
We can’t take witnessing any more carnage or scandal from the Dewy & LeBoeuf front! The worst part, in some respects, is that clients, laterals and law firm lenders are now looking past the…more
We are still sitting and gawking unabashedly at the awful train wreck that is now the fate of Dewey & LeBoeuf. The human carnage is unspeakable, yet we can’t stop staring.
The pundits are rapidly offering their own…more
Dewey & LeBoeuf continues to be daily battered in the media. Too many of the slings and arrows now being shot Dewey’s way are self inflicted.
Those with the most to lose seem to be trying to get this ship of state back on…more
Dewey & LeBoeuf continue to flounder in stormy seas. In this Internet era, we are all bolted to our deck chairs in calmer adjacent seas glued to this spectacle as it unfolds before us. The bolt to the exits by some important…more
In these challenging times, a noted and venerated law firm seems, at the very zenith of the profession, seems to be deconstructing before our eyes. While some of us watch transfixed as a major pillar of the legal community goes…more
The numbers for 2011 for law firms are dribbling out as they inevitably do at this time of year. The reports are fairly consistent all across the board: Gross revenues up at about 3 or 4%; net profits increased at double that…more
Ever wonder what your law firm is worth? Here’s a shocker: Nothing, zero, zilch, nada.
While law firms around the world are scrambling for cash and the folks across the pond are counting money they will never receive under…more
In the second half of the last century, BigLaw developed and then fine tuned its pyramided business model. The name of the game was leverage: put an increasingly large cadre of associates at the base of the pyramid, have them…more
Citibank’s 2012 year-end report on law firm profitability tells us that 2012 was the Dickensian best of times and the worst of times. Only more worst than best.
It was the best of times because law firms reported a marginally…more
With the advent of the Tesco laws (Alternative Business Structure) across the pond, investors flocked across the pond last year in the same mad dash for riches as the hordes moved to Northern California in the gold rush of 1849…more
With law firm expenses rising at a rate three times higher than revenues, law firms have been working feverishly to cut the expense side and maximize revenues, to rather good effect, thus far. This has resulted in a perfect…more
Desperate people do desperate things. This basic maxim applies in spades to lawyers.
Recent press disclosures concerning high profile law firms and, in at least several instances, of seven and eight figure thefts from client…more
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