Local success story and Greenberg Traurig partner Mark J. McCombs has been charged with stealing more than $1 million in tax increment funds by billing Calumet Park, a suburb in the Chicago area, for work he never did. McComb grew up in Calumet Park and residents were so proud of his accomplishments a street in [...]
Continue reading...Wednesday, January 13, 2010
The non-profit Practising Law Institute (PLI) will launch its newest state-of-the-art legal education seminar Feb 1 in New York City. The symposium, which will be hosted by leading consultants and academics, will focus on “hot button” issues such as the future of “big law,” billable hours, alternative billing options, and delivering the highest quality of [...]
Continue reading...Monday, January 4, 2010
At the start of 2009 Arnold & Porter announced that it was freezing salaries but held out the hope that some or all of the difference might be paid out later if economic situations warranted. At the end of December a firm wide memo went out in which Arnold & Porter announced that all [...]
Continue reading...Tuesday, December 29, 2009
Kramer Levin is paying bonuses mid February and they are based on the Cravath scale. To be eligible for a Cravath sized bonus, an associate must have met certain billable hour targets. Anyone that falls short may be eligible for a smaller bonus and those that joined the firm mid year will receive [...]
Continue reading...Tuesday, December 22, 2009
Quin Emanuel is making its naughty and nice list. Those who were naughty are getting a lump of coal, and those that were nice are getting a bonus – in some cases a very nice bonus. Bonuses are being paid by class depending on the number of hours billed. To qualify for the smallest [...]
Continue reading...Tuesday, December 22, 2009
First a little background: Hogan & Hartson pays associates on a two tier system, where associates can choose to receive higher base salary but with a higher billable hours requirement, or take a lower base salary with lower expectations. This year, salaries were frozen at 2008 levels and in the spring, Hogan & Hartson [...]
Continue reading...Thursday, December 3, 2009
I have a mental image of two giants staring each other down inside a locked steel cage before charging at one another, swinging leather briefcases and throwing blackberrys. In this corner, wearing a charcoal suit and a red power tie we have BigLaw, who wants to raise billing rates by 5%, and in this [...]
Continue reading...Friday, October 23, 2009
Allen Matkins is having a rough year. Back at the end of March the firm let some attorneys go. First year associate salaries were cut, along with the salaries of some additional associates. Now it appears they are finishing the job with additional layoffs and more salary cuts. Tipsters at Above the Law [...]
Continue reading...Friday, September 18, 2009
The blawgosphere is buzzing with reports that the billable hour is dying, but as Mark Twain once quipped, “The report of my death was an exaggeration”. It all started where most trends start – Los Angeles. The Southern California stalwart O’Melveny & Myers updated its vision with a five year plan that called for, among [...]
Continue reading...Thursday, August 6, 2009
Boston’s Mintz Levin, which just laid off an undisclosed number of attorneys and staff, has cut associate salaries. The salary reductions are based on hours billed over the last 12 months — associates on track for 1,635 hours will see a 5% cut. Fewer hours mean a larger cut, up to 35%. The cuts are firmwide. Mintz Levin [...]
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Monday, March 8, 2010
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