Thank you for sharing!

Your article was successfully shared with the contacts you provided.
There was virtually no change in profits per partner between 2001 and 2002 at the D.C. office of Skadden, Arps, Slate, Meagher & Flom. That doesn’t mean the 251-lawyer office had a bad year. With profits averaging $1.6 million per partner, Skadden’s D.C. shop still ranks ahead of its competition as the richest partnership in the District. Skadden, which remained in the No. 5 spot in the D.C. 20 survey, posted a 12 percent increase in gross revenue, from $180.5 million in 2001 to $202 million last year. Revenue per lawyer was also up 5 percent, from $765,000 to $803,000. Firmwide, Skadden’s gross revenue topped $1.3 billion. Skadden’s D.C. managing partner Michael Rogan says its work on behalf of the Enron Corp. kept the D.C. office busy, particularly the litigation section and partner Robert Bennett. The firm also represented Allied Irish Banks when federal authorities investigated how nearly $700 million was lost by its then-U.S. subsidiary, Allfirst Financial Inc. In addition, Skadden represented the Kmart Corp. and US Airways in those companies’ high-profile bankruptcy filings. Rogan says the D.C. office gained a lot of business advising company boards on how to comply with the Sarbanes-Oxley Act, which expanded the enforcement powers of the Securities and Exchange Commission. The firm’s antitrust and tax sections remained active despite the fact that mergers and acquisitions business was down. “There weren’t as many transactions, but we had the Washington portion of the big ones,” says Rogan. For example, Skadden’s D.C. office worked on IBM’s $3.5 billion acquisition of PricewaterhouseCoopers’ consulting and technology services. The firm also represented Citicorp in its purchase of San Francisco’s Golden State Bancorp Inc.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.