Howrey to dissolve

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Wholigan
Posts: 763
Joined: Sat Jan 29, 2011 4:51 pm

Howrey to dissolve

Postby Wholigan » Thu Mar 10, 2011 4:01 pm


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Kohinoor
Posts: 2756
Joined: Sat Oct 25, 2008 5:51 pm

Re: Howrey to dissolve

Postby Kohinoor » Thu Mar 10, 2011 5:26 pm

Wholigan wrote:http://amlawdaily.typepad.com/amlawdaily/2011/03/howrey-partners-vote.html

No big shocker, but it's official.

Missed a clutch opportunity for 'Howrey going to dissolve'

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Grizz
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Joined: Mon Jan 04, 2010 6:31 pm

Re: Howrey to dissolve

Postby Grizz » Thu Mar 10, 2011 5:29 pm

Howrey gonna keep this meme going?

truevines
Posts: 198
Joined: Fri Jun 20, 2008 6:16 pm

Re: Howrey to dissolve

Postby truevines » Thu Mar 10, 2011 5:43 pm

And it came to our 2010 OCIP.
I hope my friends who were headed for Howrey this summer could find alternatives.

rose711
Posts: 287
Joined: Tue Jan 11, 2011 11:57 pm

Re: Howrey to dissolve

Postby rose711 » Fri Mar 11, 2011 5:35 pm

Ruyak attributed Howrey's problems in part to an over reliance on contingency fees and the outsourcing of discovery work to third-party vendors.


I have heard different explanations of why Howrey fell apart. Most of them focus on over rapid expansion, too much expensive office space (maybe same as the first one) and conflicts preventing some of the acquired european offices from taking on clients they wanted to have.

I do wonder about the outsourcing of doc review as a partial reason a biglaw firm collapses.
Once doc review moved to India, the firm couldn't charge as much and couldn't keep its cash flow? Does that make sense? Is this just an excuse for the real problem of terrible leadership at the top of the firm (which I think it is) or could this income issue be something all biglaw firms have to address?




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