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D.C. Firms Assess Price of Keeping Up With Next Round of Associate Raises
Eight months after Simpson Thacher raised starting salaries for first-year associates to $160,000, salaries for first-years at most of the 200 largest firms nationwide remain bunched at that rate. What New York firms had hoped was a raise too rich for out-of-town competitors with more pedestrian profits instead looks to be a failed attempt to segment the market. And now firms are bracing for another round of raises, probably ignited by a New York corporate firm looking to up the bidding war for talent.
Law Firms' Diversity Goals Could Face Legal Attack
An American Enterprise Institute program last week addressed the latest firestorm over law firm diversity, stemming from research by law professor Richard Sander that posits a credentials gap between minority associates and their white counterparts. Akin Gump partner Michele Roberts gave rebuttal arguments, protesting the idea that minorities in large firms are unqualified for the intense workload. She said: "We pay [associates] too much already. It doesn't make sense to bring in people who can't compete."Hunton & Williams Launches Office in Los Angeles
Richmond, Va.-based Hunton & Williams is launching a Los Angeles office by swallowing the majority of what was formerly trial boutique O'Donnell & Mortimer, a union spurred by shared client Pfizer Inc. "You cannot be a truly national firm unless you have a significant presence in California," said managing partner Walfrido Martinez. "Our hope is to build a strong presence in California, starting in Los Angeles and hopefully moving up the state." The L.A. location is the 850-lawyer firm's 18th office.Former Shaw Pittman Partners Press Complaint Against Merged Firm
Last week six former Shaw Pittman partners who left the firm at the time of its merger with Pillsbury Winthrop filed an amended complaint in their lawsuit against the merged entity, claiming the firm owes them millions in unreturned capital contributions and for work they did in the first quarter of 2005. Now partners at Morrison & Foerster, the six have asked a Virginia judge to compel arbitration, citing clauses in the partnership agreement in effect when the partners left the firm.
Broad Impact Seen in AT&T Calling-Card Ruling
In a decision that could cost AT&T Corp. millions and trigger more litigation in the telecom industry, the FCC has denied a request to waive unpaid fees accrued through prepaid calling-card services. At the crux of the ruling is the FCC's struggle to distinguish between "information services" and "telecommunication services" -- definitions blurred by new Internet technologies. The FCC order set a clear standard, ruling that "enhanced" phone calling cards are no different from regular calling cards.Trending Stories
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