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WHAT WE'RE WATCHING

REACH OUT AND TOUCH SOMEONE - Most of us have spent our whole lives believing the only way to collaborate with someone in real time was to travel by land, air or sea to meet with them in person. But recently, some corners of the legal industry have begun experimenting with devices that allow for communication to be accomplished across great physical distances, without any need for relocation or even postage costs. As Law.com's Jacob Polacheck reports, while in-person meetings among lawyers in the same law firm office may have plummeted during the pandemic, some firm leaders say one perk from the time period was increased communication between lawyers in different offices. And now there's an effort among some firms to keep up that inter-office collaboration, using instruments such as telephones and personal computers equipped with "Internet." This may all sound like some kind of science fiction novel, but those who have participated in these strange long-distance experiments say the results are very real. And curiosity is growing. In fact, Carlos Pauling, the executive director for Major, Lindsey & Africa's partner practice group, told Polacheck that he's having one to three conversations weekly with managing partners at large law firms who are interested in learning more about how technology can aid in cross-office collaboration.

PLAYING SOFTBALL? -  As Law.com's Hugo Guzman reports, a new study from Wolters Kluwer found that many legal departments do a pitiful job negotiating outside counsel rates—with companies in the financial and banking industries being the big exception. In fact, report author Nathan Cemenska said many legal departments "do not even attempt to exercise any central control, but decentralize rate negotiations out to in-house counsel, many of whom lack the skills, gumption, desire and/or temperament to take an arm's-length tone in rate negotiations—with results that are all too predictable." But wait—aren't a lot of in-house lawyers specifically trained in the art of negotiation? Yes, but as Jason Winmill, managing partner of the legal department consulting firm Argopoint, pointed out: "[N]egotiation takes on a different tenor when you're sitting across from an external partner whose collaboration you rely on for critical support."

ON THE RADAR  - Simpson Thacher & Bartlett counseled the Royal Bank of Canada, Mizuho Bank Ltd. and PNC Bank NA, acting as joint lead arrangers and underwriters, in connection with EQT Corp.'s $2.5 billion unsecured bridge and term loan facility. Concurrently, Simpson Thacher also represented, RBC Capital Markets, Mizuho Securities USA and PNC Capital Markets, acting as underwriters, in connection with EQT's $500 million in aggregate note offering. The Simpson Thacher team included partners Jonathan Ozner and Brandan Still. Counsel information for EQT Corp., which is based Pittsburg, was not immediately available. Stay up on the latest deals and litigation with the new Law.com.   

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