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October 15, 2008 |

Reverse leverage of mark-to-market wrecks banks

The world's banking system is caught in a vicious trap, with a forced sale of assets at one institution wiping out capital at others holding similar assets. Think of it as extraordinarily high reverse leverage. You can blame mark-to-market accounting, the advent of new indexes that supposedly track values of a wide range of assets, or a market mind-set that assumes every asset is part of a bank's trading book.
5 minute read
September 12, 2012 |

Donald Curry

In the three years since Donald Curry, a partner at 175-lawyer Fitzpatrick, Cella, Harper & Scinto in Manhattan, has been running the firm's pro bono committee, the average per-lawyer commitment increased from one hour annually to 39 while the percentage of attorneys devoting more than 20 hours a year jumped from 0.8 percent to nearly 35 percent.
6 minute read
May 04, 2007 |

Consider These Alternatives to H-1B Visas for Foreign Workers

Since 2004, businesses have found that H-1B visas for highly skilled foreign workers have become unavailable at an earlier date every year. That visa's shrinking availability makes it imperative for employers and their attorneys to consider other options. James D. Mills, an associate at McElroy, Deutsch, Mulvaney & Carpenter, provides a rundown of some alternative visas. While most are not direct replacements for H-1B visas, it might help to keep them in mind in case an H-1B visa proves too elusive.
7 minute read
November 17, 2010 |

Gide Firm Diversifies With Launch of London Funds Practice

France's Gide Loyrette Nouel has launched a London funds practice as it attempts to diversify a finance-focused practice that left the office brutally exposed during the downturn. A transactional work decline saw gross revenue in London drop by 51 percent to $12 million in 2009. Net income for the office fell by 70 percent to $5.8 million. "We've always been aware that having all our eggs in one basket as a finance boutique was perhaps not the safest business model in the world," says London managing partner Colin Mercer.
4 minute read
July 20, 2010 |

SEC Settlement Carves Out Special Duties for Goldman's In-House Lawyers

In the Securities and Exchange Commission's July 15 settlement with Goldman Sachs, federal regulators have some marching orders for the bank's in-house counsel and compliance folks.
3 minute read
February 24, 2012 |

Want to boost growth Cut U.S. corporate tax rates

Payroll-tax cut equals growth. Consumer spending equals growth. Consumer spending is 70 percent of the economy. All growth is equal.These are the axioms that motivated lawmakers to secure an extension of a payroll-tax cut this month. They felt like heroes for passing and signing a temporary break allowing citizens to skip Social Security payments.
5 minute read
February 04, 2011 |

Dechert's Revenue Drops 9 Percent, Profits Rise 2.6 Percent

Dechert saw a 9 percent drop in gross revenue in 2010, bringing in $65 million less than it had in 2009.
5 minute read
October 16, 2012 |

Reed Smith, K&L Gates Double Down on Veteran Leaders

For two very different guys, Reed Smith's Greg Jordan and K&L Gates' Pete Kalis have a lot in common. The two West Virginia natives rose to lead their respective Pittsburgh-based law firms well more than a decade ago and both have recently won unopposed elections to additional terms for the next three and five years, respectively.
9 minute read

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