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Conn. Firms: No Rush to Raise Associate Pay
Compared with metropolitan areas, Connecticut is slow to embrace law firm management trends. It's no different with the latest round of first-year associate wage hikes. Privately, Connecticut-anchored law firms may curse the decision by top-tier New York firms to raise their entry-level salaries to $160,000. But publicly, their attitude is: Why rush to act? Several firm leaders, such as Cummings & Lockwood's Jonathan Mills, have said they'll reassess associate salaries midyear to see if they're competitive.Local Firms: No Rush To Raise Associate Pay
Compared to major metropolitan areas, Connecticut is typically slow to embrace trends whether they involve fashion or law firm management. It's no different with the latest round of first-year associate wage hikes, which started in New York a few weeks ago and now are causing panic among law firm leaders across the country.Firms' Revenue Per Lawyer Not the Measure of Success
If one assumes that the job of most associates is to toil under the supervision of a partner and not to originate lots of business, consultant Peter Giuliani says it should be a foregone conclusion that it is the job of equity partners to originate sufficient business to keep themselves and one or more associates (or possibly nonequity partners) busy. If that is happening and if the firm is collecting nearly full rates, the phenomenon of leverage takes over and drives higher profits to the equity partners.They've Got Esprit, Yes They Do
Dale Freeman of Reed Smith, that is. He represented a group of VCs in a $90 million financing round to Esprit Pharma.Large Firms Hike Pay For First-Years
Things are looking brighter for first-year associates at Connecticut's largest law firms. Their paychecks are up — in some cases way up — over base salaries for 2005's incoming class.Conn. Jury Awards $19 Mil. in Patent Fight
Entrepreneurs Michael Finney and his brother, John, founded MJ Research 17 years ago in a Massachusetts attic. Today it commands a 30 percent share of the worldwide market for machines that separate DNA molecules with precision heating and cooling for sequencing and medical research.Former GC can sue over discharge
Hartford, conn.-In a case that cuts to the heart of what it means to be a company's lawyer, the Greenwich, Conn.-based liquid chemical shipping line, Stolt-Nielsen Transportation Group Ltd. (SNTG), contends former general counsel Paul E. O'Brien can't sue it for wrongful discharge due to the secrecy and loyalty duties of the attorney-client relationship.Am Law Firms Grab Roles on Latest Batch of Insider-Trading Indictments
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