Posted in Administration.
By lawshucks
– November 20, 2009
We’ve all had our moments of despair and frustration as we try to wade through the morass of the Securities Act of 1933 (as amended, of course).
Hopefully, none ever felt so bad as lawyer Phelan Beale did 75 years ago.
After the jump, his tale of woe in a letter from the dawn of the Securities Act, courtesy of Letters of Note.
Continued…
Posted in Lawyers.
By lawshucks
– November 18, 2009
Posted in Administration.
By lawshucks
– November 17, 2009
Image: Papa Mike's
We’re far too poor to afford the full report, so we have to rely on Law360’s excerpt of BTI Consulting’s ranking of the most arrogant firms.
The eight firms topping the list are regulars on this site.
After the jump, we summarize them and cross-reference to some other interesting data.
Continued…
Posted in Lawyers.
Tagged with baker & mckenzie, cravath, king & spalding, kirkland, latham & watkins, skadden, sullivan & cromwell, vinson & elkins.
By lawshucks
– November 17, 2009
Posted in Administration.
By lawshucks
– November 16, 2009
Pic: U. Chicago
This week, economists missed on the good side – initial jobless claims fell by more than expected. The 502,000 applicants are the fewest since January 3, and the four-month rolling average is at the lowest level since November 2008.
It’s tough to grasp half a million people filing for first-time benefits as good news, but these are troubled times, so we have to cheer where we can. Don’t get too excited, though. Even news that looks good at first glance probably isn’t. The 139,000 people who came off the continuing-claims roster more likely did so as a result of benefits running out or giving up the search than actually finding work.
But don’t be surprised if that number starts creeping back up. A bill was passed last week that will extend benefits by 14 weeks in all states, and six additional weeks in states where the unemployment rate is greater than 8.5%.
All in all, it was a relatively good week in BigLaw with no layoffs reported. Nonetheless, firms continue to flail about trying to fix their economic models, and we document the efforts after the jump.
Continued…
Posted in Business of Law.
Tagged with bonuses, covington, freshfields, jones day, katten muchin, layoffs, reed smith, sidley & austin, this week in layoffs.
By lawshucks
– November 13, 2009
Intel and AMD agreed to bury the hatchet this week, with a surprise settlement pursuant to which Intel will pay AMD $1.25 billion and AMD will drop the various antitrust and infringement claims it has filed around the world.
AMD had accused Intel of a host of anticompetitive practices in their fight for share of the PC CPU market (Intel has around 70%, AMD the balance – there’s no real third option). The US suit was scheduled to go to trial in Delaware next spring. That case had already produced 25 million pages of filings and more than 300 depositions, so you know there’s plenty of legal work to go around.
The firms (eight and counting), the lawyers (at least thirty), and an obsessive analysis of a press release after the jump.
Continued…
Posted in Suits.
Tagged with amd, antitrust, bingham mccutchen, duane morris, gibson dunn, howrey, intel, o'melveny & myers, perkins coie, skadden.
By lawshucks
– November 13, 2009
Posted in Administration.
By lawshucks
– November 12, 2009
Steven Davidoff has analyzed a headscratcher of a deal that has had M&A lawyers scratching their heads for years: Tilman Fertitta’s $1.3 billion management buyout of Landry’s Restaurants, which he called a “Deal from Hell” earlier this year. Fertitta made a no-premium offer for the company, then bought some stock on the open market, ended up with control, and somehow got the company to terminate, which meant he got to walk away without even paying the breakup fee. The board ended up in all sorts of hot water, and the deal is still in the middle of a mess of litigation, as one of former Chancellor Lamb’s last acts before joining Paul Weiss.
Fertitta has decided to make another run at the restaurant chain, but this time the company has switched lawyers and bankers. More on that, after the jump.
Continued…
Posted in Deals.
Tagged with cadwalader, haynes & boone, king & spalding, M&A, wachtell.
By lawshucks
– November 12, 2009
Around her hair she wore a yellow ribbon
She wore it in the spring time, in the early month of May
And if you asked her why the heck she wore it
She’d say she wore it for her soldier who was far, far away
Far away
Far away
She wore it for her soldier who was far, far away
Around the block she pushed a baby carriage
She pushed it in the spring time, in the merry month of May
And if you asked her why the heck she pushed it
She’d say she pushed it for her soldier who was far, far away
Far away
Far away
She pushed it for her soldier who was far, far away
Behind the door, her daddy kept a shotgun
He kept it in the spring time, in the merry month of May
And if you asked her why the heck he kept it
He’d say he kept it for that soldier who was far, far away
Far away
Far away
He kept it for that soldier who was far, far away
Around his grave she laid the pretty flowers
She laid them in the spring time, in the merry month of May
And if you asked her why the heck she laid them
She’d say she laid them for her soldier who was far, far away
Far away
Far away
She laid them for her soldier who was far, far away
-Army Cadence
[To our non-US (and forgetful US) readers, today is Veteran's Day]
Posted in Administration.
By lawshucks
– November 11, 2009
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