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Confidence Dips at U.K. Firms as Credit Squeeze Hits, but Partners Predict Growth
The summer's credit market turmoil has put a noticeable dent in business confidence at the top U.K. law firms, but a clear majority of partners believe their businesses will maintain robust growth. Results of a quarterly business confidence poll show that the aftermath of the credit squeeze has left partners tentative over sustained deal flow, with those expecting growth of any kind dropping by 12 percent.M&A deals double up for first half of current year
The volume of U.S. mergers and acquisitions activity doubled in the first half of 2004, according to Thomson Financial, the business research and information group.Firms Balance Lateral Hires Versus 'Culture'
For decades, the only way to become a partner at an elite law firm was to become an associate at that firm first, preferably straight out of law school. That's no longer the case at most of the nation's major firms, who now poach partners with remarkable frequency. Top New York firms have resisted the trend, regarding lateral hiring as anathema to firm "culture" -- but even they are starting to find it irresistible.Atlanta Firms Slow Flow of M&A Deals to New York
It used to be that an Atlanta company preparing for a big deal would shun its local counsel for a Manhattan law firm. Now, mergers and acquisitions practices at Atlanta firms routinely handle multibillion-dollar transactions. Case in point: Smith, Gambrell & Russell partner Robert Paller, who represented AirTran Airways when the discount airline raised $4.5 billion to buy 114 planes from Boeing. The rise of Atlanta firms comes as the national value of M&A deals rose to $1.1 trillion last year.The Hits Keep Coming: Proskauer Goes Gaga, McDermott Helps Pitbull Tame Lohan, MoFo Up Against Beats
An Am Law Daily round up of entertainment-related legal news finds Proskauer Rose representing the promoters of a canceled Lady Gaga concert, McDermott, Will & Emery taking a copyright case thanks to a local connection, and Morrison & Foerster defending Yamaha against infringement claims brought by Dr. Dre.State AI Legislation Is on the Move in 2024
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