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Why Do Mergers Die? It's Like Dating
The rash of failed law firm mergers is cultural as well as economic.Some law firms reach out to gay attorneys
Gay lawyers always have made important contributions in the legal profession. In today's cutthroat recruiting environment for legal talent, however, more large firms are aggressively reaching out to talented gay lawyers. According to Holland & Knight partner Gregory Baldwin, that's a positive sign for all minority groups. "If a law firm or a business is willing to have and protect openly gay people from discrimination, then it's certainly going to do that for racial and ethnic discrimination," he says.Parallel proceedings put certain rights at risk
The recent rash of investigations and indictments brought against corporations and their officers highlights the need for corporate officers and their general counsel to become sensitive to the inherent risks associated with the growing number of parallel proceedings.Two sides in stalemate over RRA assets
How much of what remains of Scott Rothstein's $1.2 billion fraud can prosecutors seize under federal law, and how much can the bankruptcy trustee lay claim to?Why do mergers die? It's like dating.
Failed law firm mergers are common, but reports of unsuccessful pairings have been particularly prominent in recent weeks. Firms point to conflicts of interests, cumbersome retirement plans and incompatible business structures as recent deal-breakers. But while money and ethical matters can present significant relationship baggage, the reasons for scrapped plans tend to run much deeper, say those who have gone through the process and come out on the other side. "It's like dating," said Michael LoVallo, whose former firm Sachnoff & Weaver merged with Reed Smith last year. "You identify somebody as a possibility and you try to imagine what it's going to be like living with that person."Law Firm Downsizing: Who's Next?
With plenty of lawyers but relatively low partner profits, Mayer, Brown, Rowe & Maw found itself earlier this month in the uncomfortable position of having to downsize its equity partner ranks in what it said was a push to stay competitive in the war for talent. But a look at other big law firms shows that many are in the same situation as the Chicago firm, raising questions about whether they, too, will want to do some significant trimming at the top.Trending Stories
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