How to handle Dewey (or similar firms)

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LawIdiot86
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Re: How to handle Dewey (or similar firms)

Postby LawIdiot86 » Wed Apr 04, 2012 10:29 am

Anonymous User wrote:
Anonymous User wrote:Hypothetically, if a 2012 SA had the chance to go to another firm for the summer, should he or she do it at this point? What would the ramifications be? Did SAs sign any sort of contract with Dewey?

They'd probably be happy to see you go. Your departure will save them tens of thousands of dollars and will improve their offer rate (since I can't imagine it will be even close to 100%).


It could be close to 100% if they do some creative re-arranging. Like a two year deferral, plus a salary reduction to 145 that isn't announced until a year into the deferral and maybe some major practice group re-assignments.

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Old Gregg
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Re: How to handle Dewey (or similar firms)

Postby Old Gregg » Wed Apr 04, 2012 11:30 am

Dewey can easily afford to absorb all summer associates on time at a market salary. The reason they won't is that the partners don't want to make less. But don't think for a second that they can't afford it.

xcountryjunkie
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Re: How to handle Dewey (or similar firms)

Postby xcountryjunkie » Wed Apr 04, 2012 1:47 pm

Four more gone today. (see WSJ Law Blog)

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IrwinM.Fletcher
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Re: How to handle Dewey (or similar firms)

Postby IrwinM.Fletcher » Wed Apr 04, 2012 3:13 pm

xcountryjunkie wrote:Four more gone today. (see WSJ Law Blog)


Wow, make that 6 today. Looks like the lifeboats are filling quickly.

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TTTLS
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Re: How to handle Dewey (or similar firms)

Postby TTTLS » Wed Apr 04, 2012 3:30 pm

The four who left are now going to work for...

DLA PIPER!

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stratocophic
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Re: How to handle Dewey (or similar firms)

Postby stratocophic » Wed Apr 04, 2012 3:36 pm

TTTLS wrote:The four who left are now going to work for...

DLA PIPER!
Sounds ENJOYABLE.

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Big Shrimpin
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Re: How to handle Dewey (or similar firms)

Postby Big Shrimpin » Wed Apr 04, 2012 3:50 pm

stratocophic wrote:
TTTLS wrote:The four who left are now going to work for...

DLA PIPER!
Sounds ENJOYABLE.


Ran here to poast this.

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Wed Apr 04, 2012 5:20 pm

Any DL SAs out there that have already jumped to something else?

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Indifferent
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Re: How to handle Dewey (or similar firms)

Postby Indifferent » Wed Apr 04, 2012 9:20 pm

46 partners in barely more than a quarter. Yep, I think that's bad.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Wed Apr 04, 2012 10:02 pm

I'd say 80% chance the firm goes under by the end of the summer.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Wed Apr 04, 2012 10:24 pm

Anonymous User wrote:Any DL SAs out there that have already jumped to something else?


yes.

46 partners is very serious. however, today's departures do not seem like much of a loss. previous activity indicates that dewey is shedding its insurance practice (i expect all remaining insurance partners will follow suit), which they do not see as being in line with their 'global firm' ambitions (meaning multinational, not bigger).

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Wed Apr 04, 2012 10:49 pm

Anonymous User wrote:
Anonymous User wrote:Any DL SAs out there that have already jumped to something else?


yes.

46 partners is very serious. however, today's departures do not seem like much of a loss. previous activity indicates that dewey is shedding its insurance practice (i expect all remaining insurance partners will follow suit), which they do not see as being in line with their 'global firm' ambitions (meaning multinational, not bigger).


I can imagine that you wouldn't want to give too many details, but how did you go about jumping ship this late in the game?

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Old Gregg
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Re: How to handle Dewey (or similar firms)

Postby Old Gregg » Wed Apr 04, 2012 10:57 pm

Anonymous User wrote:
Anonymous User wrote:Any DL SAs out there that have already jumped to something else?


yes.

46 partners is very serious. however, today's departures do not seem like much of a loss. previous activity indicates that dewey is shedding its insurance practice (i expect all remaining insurance partners will follow suit), which they do not see as being in line with their 'global firm' ambitions (meaning multinational, not bigger).


Why on earth would a firm shed one of its most lucrative and pre-eminent practices? I strongly doubt these lawyers are being pushed out...

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Wed Apr 04, 2012 11:20 pm

Fresh Prince wrote:Why on earth would a firm shed one of its most lucrative and pre-eminent practices? I strongly doubt these lawyers are being pushed out...



This. The only way I see this remotely happening is if that whole group seriously didn't get along with the rest of the partnership, but even then....

Also very interested to hear how the poster above went about finding something else/where they ended up (generally speaking)

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romothesavior
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Re: How to handle Dewey (or similar firms)

Postby romothesavior » Thu Apr 05, 2012 12:14 am

Indifferent wrote:46 partners in barely more than a quarter. Yep, I think that's bad.

No no guys, that anon said things are fine. Nothing to be alarmed about.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Thu Apr 05, 2012 10:53 am

Fresh Prince wrote:
Anonymous User wrote:
Anonymous User wrote:Any DL SAs out there that have already jumped to something else?


yes.

46 partners is very serious. however, today's departures do not seem like much of a loss. previous activity indicates that dewey is shedding its insurance practice (i expect all remaining insurance partners will follow suit), which they do not see as being in line with their 'global firm' ambitions (meaning multinational, not bigger).


Why on earth would a firm shed one of its most lucrative and pre-eminent practices? I strongly doubt these lawyers are being pushed out...


Insurance was one of their most lucrative practices? False.

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Thu Apr 05, 2012 10:54 am

Anonymous User wrote:
Fresh Prince wrote:Why on earth would a firm shed one of its most lucrative and pre-eminent practices? I strongly doubt these lawyers are being pushed out...



This. The only way I see this remotely happening is if that whole group seriously didn't get along with the rest of the partnership, but even then....

Also very interested to hear how the poster above went about finding something else/where they ended up (generally speaking)


V50

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FlightoftheEarls
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Re: How to handle Dewey (or similar firms)

Postby FlightoftheEarls » Thu Apr 05, 2012 3:19 pm

Anonymous User wrote:
Anonymous User wrote:
Fresh Prince wrote:Why on earth would a firm shed one of its most lucrative and pre-eminent practices? I strongly doubt these lawyers are being pushed out...



This. The only way I see this remotely happening is if that whole group seriously didn't get along with the rest of the partnership, but even then....

Also very interested to hear how the poster above went about finding something else/where they ended up (generally speaking)


V50

:roll:

http://www.chambersandpartners.com/USA/Editorial/42669#org_3521

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Thu Apr 05, 2012 11:08 pm

I have it on good authority that some partners are not fielding calls from headhunters as a show of confidence in the firm.

--ImageRemoved--

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TTTLS
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Re: How to handle Dewey (or similar firms)

Postby TTTLS » Thu Apr 05, 2012 11:09 pm

Anonymous User wrote:I have it on good authority that some partners are not fielding calls from headhunters as a show of confidence in the firm.

--ImageRemoved--

180

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NinerFan
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Re: How to handle Dewey (or similar firms)

Postby NinerFan » Fri Apr 06, 2012 1:46 pm

Head of structured finance? No big deal.

http://blogs.wsj.com/law/2012/04/06/ano ... yer-brown/

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Old Gregg
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Re: How to handle Dewey (or similar firms)

Postby Old Gregg » Fri Apr 06, 2012 1:51 pm

Dewey summer associates should be looking for new jobs yesterday.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 06, 2012 3:12 pm

Fresh Prince wrote:Dewey summer associates should be looking for new jobs yesterday.


And how would you recommend doing that? It's April -- every summer program has been full for months. There are going to be dozens of summer associates who will have their careers wrecked through no fault of their own. Simply bad luck on their part when choosing a summer associateship.

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Indifferent
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Re: How to handle Dewey (or similar firms)

Postby Indifferent » Fri Apr 06, 2012 3:52 pm

Fresh Prince wrote:Dewey summer associates should be looking for new jobs yesterday.

Eh, Dewey will probably still have a summer program. SAs can still do 3L OCI/apply for clerkships. It sucks, but life goes on.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Sat Apr 07, 2012 3:18 pm

Indifferent wrote:
Fresh Prince wrote:Dewey summer associates should be looking for new jobs yesterday.

Eh, Dewey will probably still have a summer program. SAs can still do 3L OCI/apply for clerkships. It sucks, but life goes on.


This.

Every firm I have spoken with about the situation has been very empathetic.




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