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For Lawyers in Oracle Fight, Time to Put Down Pencils
PeopleSoft's capitulation to Oracle Corp.'s hostile takeover brings to an end 18 months of bitter drama -- and a feast of work for area law firms. For lawyers involved in the saga -- which started with PeopleSoft's acquisition of J.D. Edwards in 2003 -- the work leading up to Monday's $10.3 billion deal has been all consuming. And as this legal juggernaut came to a grinding halt Monday, partners and associates talked of taking some much needed time off.ABA Weighs Ethics of Confidentiality
Delegates to this week's ABA convention will debate three proposals that could allow lawyers to get around attorney-client privilege. It should be a lively confrontation between lawyers who believe the profession has a duty to reveal crimes and those who say clients deserve their counsel's silence no matter what. Among those questioning the proposals is Jeffrey Bleich, president of the Bar Association of San Francisco, who says the measures are apt to discourage open communications.Latham and Gibson Dunn Raise N.Y. Salaries to $160,000
California associates still dreaming of New York-sized salaries are in for a rude awakening. West Coast standard bearers Latham & Watkins and Gibson, Dunn & Crutcher announced that they're increasing first-year associate pay to $160,000 in New York, but only to $145,000 in California and elsewhere. Orrick, Herrington & Sutcliffe, Heller Ehrman and Paul, Hastings, Janofsky & Walker also announced the same increase -- except that Orrick will also raise Washington, D.C., first-years to the $160,000 scale.Associate Salaries: The War is Over
It goes without saying that the associate salary wars are over. Firms have responded to a drop in business and a glut of talent with salary freezes and cuts, or even a wholesale revamping of pay scales. And some industry experts predict that market rates will blur further as more firms shift from lockstep models to merit-based compensation. But the retrenching effort so far hasn't affected first-years nearly so much as midlevel associates, according to The Recorder's annual survey of associate salaries.Trending Stories
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