Anonymous User wrote:I had to respond because the rationale being offered about OMM being "shaky" is so lulzy. OMM is not on shaky ground. Now, if you want to do corporate work, I wouldn't advise going to the NY office, but it's otherwise just fine. The NY office merged with another firm back in the early 2000s (I believe) in order to obtain one of their clients, Apollo. That was basically all the transactional work in the NY office. The merger was, by all accounts, a terrible idea, save the massive client. The partners who came in with the client left to go to Paul Weiss and took some associates with them with whom they'd worked at OMM. That was the vast majority of the departures and to be expected when the O'Sullivan folks bounced to PW. If you look at the list from ATL, most of the partners who left are NY partners.
Beyond the NY office, some partners have left for different reasons. Mark Easton (a partner in LA) left to become general counsel at Warner Brothers. Another LA partner, Steve Olson, left to become the president of Aletheia Management, an investment advising company.
All this is to say that one should do more than just read ATL for some surface level information. Go ask friends and classmates for information about firms.
I have a friend at OMM (full time) and she is terrified/considering her options.
Listen, it's true that some of the partners left on amicable terms, and that many of the partners left as a result of the merger not working out. But 22 partners is roughly 10% of the O'Melveny partnership leaving in half a year (not to mention, many of the partners were very prominent, which means probably well more than 10% of the revenue walked out the door).
I agree that OMM isn't necessarily doomed, but it means one of two things: (1) Either they cut expenses (read: associates/SA hiring) to get in line with their reduced revenue base, or (2) they take a hit to PPP and start losing more partners. Either scenario should worry you if you are considering working at the firm.
I'm at OMM and I haven't seen a cut to expenses that is out of line with the adjusted ITE levels (still hire the same number of summers, etc.). From what I know, they are also hiring associates for some offices. And, as mentioned on ATL lately, they recently moved up the start date for the Class of 2011 because there is a lot of work to go around. I don't know about the NYC office, but by all accounts, the DC, LA, and CC offices have been very busy.
I also haven't seen anything to suggest that all the partners who worked on Apollo were bringing in profit above the costs of managing the client. You also haven't mentioned what office and practice area your friend is in. If she's NYC corporate, then as mentioned above, it's probably not the best career choice right now.
But, you know, thanks for schooling me on OMM.