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United Technologies Takes a Stand, Puts Billable Hour 'on Life Support'
Corporate Counsel
How badly do you want to score the legal work? To truly impress UTC, firms have to do more than propose working off the clock. They have to explain exactly how they came up with their flat fee, and how they'll make money, something many can't do.
Ditching the Billable Hour: 'Everyone Wants to Do It'
Corporate Counsel
More companies are paying their outside counsel off the clock—and they're getting law firms to freeze or cut their hourly rates—according to the Hildebrandt 2009 Law Department Survey.
Yearly Fee System Helped Tyco's Legal Department Put It All Together
Corporate Counsel
About five years ago, Tyco manufactured a plan to switch almost all of its outside legal work over to an alternative fee structure. And a schematic to bundle together all work of a certain type helped the builder save a bundle on legal costs.
New Barnes Foundation GC Has Longtime Ties to Art World
The Legal Intelligencer
Less than a week after the Barnes Foundation broke ground for its new home in Philadelphia, it brings something else to the city -- a new general counsel. Brett I. Miller is leaving his position as a partner in Morgan Lewis & Bockius' Washington, D.C., office to serve as general counsel to the foundation.
Dems, Republicans Trade Shots Over Bank of America, Merrill Deal
The Associated Press
Senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but Republicans charge that a committee inquiry was covering up the role of an Obama administration official.
Bank of America Execs Grilled on Firing of GC During Crucial Deal
Corporate Counsel
Three bank officials insist before a House panel that the firing of its general counsel in the middle of a giant merger was just ordinary corporate 'downsizing.' The panel's chairman, however, says 'it sounds like someone didn't like his legal advice.'
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From The Web
Goldman Holders Miffed at Bonuses
The Wall Street Journal
Cadbury's Carr Rehearsed Kraft Resistance by Thwarting Goldman in Pub Bid
Bloomberg
Car Czar Says GM IPO Could Happen in 2010
The Deal
Microsoft Lawyer Skids and Squeals Tesla for Xbox Sound Team
seattletimes.com
Justice Dept. Recovers $2.4B in False Claims Cases in '09; More Than $24B Since '86
justice.gov
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Total Disclosure: Fired Ex-Bank of America GC Tells His Story
Corporate Counsel
After months of silence on the bank's controversial merger with Merrill Lynch, former general counsel Tim Mayopoulos tells Congress what legal advice the bank received—and says he still has no idea why he was fired.
Intel Names New General Counsel After $1.25B Settlement With AMD
Corporate Counsel
On the same day that the semiconductor maker announced that it's paying rival Advanced Micro Devices $1.25 billion to settle antitrust and patent disputes, Intel said antitrust expert Douglas Melamed will soon head their embattled legal department.
Facebook GC Cleans Up Nice, Talks About Online Privacy
The Recorder
Relatively new Facebook GC Ted Ullyot tells famous general counsel gathered to discuss the issues of the day at GC West in San Francisco that non-Internet companies are more likely to get in trouble with privacy these days.
Top Lawyer 'Ceases' to Ride the Friendly Skies
Corporate Counsel
General counsel Paul Lovejoy decides to leave United Airlines' Chicago-based parent corporation—and the company's tersely worded one-sentence statement on the matter has many wondering what led to his one-way ticket out the door.
