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January 24, 2006 |

Long Wait, Big Payday

There can be hidden costs associated with taking on contingency fee cases, but Townsend and Townsend and Crew Chairman James Gilliland Jr., for one, believes they're worth it.
6 minute read
January 26, 2006 |

Contingency Work: Long Wait, Big Payday

Townsend and Townsend and Crew's contingency work has paid handsomely of late, with two cases garnering in the ballpark of $30 million each for the firm. Townsend isn't the only firm trying to weigh the risks of contingency with the potential tremendous rewards. At medium-sized firms, contingency provides an opportunity to juice revenues and attract the attention of potential lateral partners. Even large firms, traditionally more conservative, are starting to take on more risk in their fee arrangements.
6 minute read
May 19, 2003 |

Quinn's Quest

Quinn Emanuel has a reputation for tackling high-stakes litigation, particularly when a case is headed to trial. The Los Angeles-based firm has built a record of significant wins that has attracted clients and prominent laterals. The firm also has gained a toehold in the Bay Area market. Charles Verhoeven, managing partner of the S.F. and Redwood Shores offices, said the firm has taken the same approach it did when it first started in L.A., building up its business by winning cases.
13 minute read
March 12, 2001 |

New York Firms Sit Out 'Salary War'

Call it the salary war that wasn't. When San Francisco-based Brobeck, Phleger & Harrison boosted its first-year associate salary to $135,000 in January, New York's big firm associates waited for what had become a predictable response. But with the economy now struggling and legal business slowing, the reaction from New York law firms so far is silence.
4 minute read
December 06, 2001 |

VLG Slashes Salaries for Associates

Grappling with a double-digit decline in revenues, Venture Law Group has slashed base salaries for associates and will attempt to make up the slack by giving junior lawyers a greater share of the firm's profits. The Menlo Park, Calif.-based corporate boutique reduced first-year salaries to $100,000 from $125,000 and cut base pay for third-years to $115,000 from $150,000.
4 minute read
February 13, 2003 |

A Daring Venture

Conventional wisdom would say this is the worst time for Reed Smith Crosby Heafey to roll out a venture capital and technology group. But to Gregory Beattie, an Oakland partner who heads Reed Smith's recently formed 20-attorney group, it's all a matter of perspective. The firm is attempting to take advantage of the glut of available talent caused by recent layoffs and expand despite the economic lull.
4 minute read
December 16, 2004 |

'Relationships are what is important in Menlo Park'

Don't let the "neo" fool you. Latham & Watkins partner Alan Mendelson drew on longtime ties in Silicon Valley to land the job of handling funding for pharmaceutical venture Neosil Inc. And in a deal that involved nearly 130,000 employees and $70 million of annual revenue, the parties in a merger created the second largest local union in the country.
4 minute read
May 09, 2000 |

Sidebar

Newspapers like truth, but lawyer Joseph M. Alioto believes that the Hearst Co. retaliates against witnesses who speak it. This comes in the nervy antitrust case that Alioto filed, challenging the Hearst handover of the low-circulation San Francisco Examiner (with a $66 million sweetener) to a local publisher connected to mayor Willie Brown.
3 minute read
November 07, 2001 |

Time to Pay Up

At law firms across the United States, the calls are going out. Some lawyers adopt a pleading tone on the phone, others play on a sense of camaraderie. But the underlying message is always the same: time to pay up. It's the time of year when law firms gently remind their corporate clients that payment is due. But this year's collection drive has partners nervously eyeing their stacks of outstanding receipts.
5 minute read
October 02, 2007 |

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.
10 minute read

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