How to handle Dewey (or similar firms)

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

Postby xcountryjunkie » Fri Apr 27, 2012 10:10 am

Anyone else surprised by how ATL's articles this morning seem to trivialize the allegations?

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

Postby Guchster » Fri Apr 27, 2012 10:13 am

Anonymous User wrote:
I am not innocent in all this. I regret claiming that I was a homosexual during my callback in the LA office, where I just assumed everyone else was gay, gay all the way. I did it purely for diversity points. Lot of good that did me. Shannon, if you are listening out there --- I am sorry you are no longer the LA recruiting director, and I am even sorrier that I told you I liked men. You were a nice lady who did not deserve my lies or the implosion of the firm you so cheerily shilled for. The frappuccino you bought for me was fabulous, even if the $7.49 you spent on it only hastened Dewey's insolvency. I hope you have found a more stable gig and would like to take you out to a heterosexual dinner sometime, assuming you are still alive and in the LA area. You have my number.


I don't even......

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

Postby DrGuano » Fri Apr 27, 2012 10:27 am

Anonymous User wrote:
I am not innocent in all this. I regret claiming that I was a homosexual during my callback in the LA office, where I just assumed everyone else was gay, gay all the way. I did it purely for diversity points. Lot of good that did me. Shannon, if you are listening out there --- I am sorry you are no longer the LA recruiting director, and I am even sorrier that I told you I liked men. You were a nice lady who did not deserve my lies or the implosion of the firm you so cheerily shilled for. The frappuccino you bought for me was fabulous, even if the $7.49 you spent on it only hastened Dewey's insolvency. I hope you have found a more stable gig and would like to take you out to a heterosexual dinner sometime, assuming you are still alive and in the LA area. You have my number.


And I got flamed in this thread... Wooo! Someone else to take the heat!

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

Postby Guchster » Fri Apr 27, 2012 10:27 am

Image

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

Postby dooood » Fri Apr 27, 2012 10:49 am

xcountryjunkie wrote:Anyone else surprised by how ATL's articles this morning seem to trivialize the allegations?

Yeah that surprised me a lot. I guess the 360 article was sensationalizing things somewhat, but this is also objectively a very big deal.

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

Postby IAFG » Fri Apr 27, 2012 11:07 am

dooood wrote:
xcountryjunkie wrote:Anyone else surprised by how ATL's articles this morning seem to trivialize the allegations?

Yeah that surprised me a lot. I guess the 360 article was sensationalizing things somewhat, but this is also objectively a very big deal.

Or maybe ATL didn't see it. They only seem to reference older pieces on it. It was behind a pay wall, I guess.

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

Postby xcountryjunkie » Fri Apr 27, 2012 11:10 am

IAFG wrote:
dooood wrote:
xcountryjunkie wrote:Anyone else surprised by how ATL's articles this morning seem to trivialize the allegations?

Yeah that surprised me a lot. I guess the 360 article was sensationalizing things somewhat, but this is also objectively a very big deal.

Or maybe ATL didn't see it. They only seem to reference older pieces on it. It was behind a pay wall, I guess.


Nah, they link directly to it in the Morning Docket.

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Re: How to handle Dewey (or similar firms)

Postby dooood » Fri Apr 27, 2012 11:12 am

IAFG wrote:Or maybe ATL didn't see it. They only seem to reference older pieces on it. It was behind a pay wall, I guess.

No, the alarming part is that they did see it and couched it in their morning docket thing: http://abovethelaw.com/2012/04/morning-docket-04-27-12/

Maybe they just don't have the deets yet, but it's hard to understand why 360 is the only news outlet w/ the info

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

Postby IAFG » Fri Apr 27, 2012 11:13 am

dooood wrote:
IAFG wrote:Or maybe ATL didn't see it. They only seem to reference older pieces on it. It was behind a pay wall, I guess.

No, the alarming part is that they did see it and couched it in their morning docket thing: http://abovethelaw.com/2012/04/morning-docket-04-27-12/

Maybe they just don't have the deets yet, but it's hard to understand why 360 is the only news outlet w/ the info

Thanks for the clarification.

They seemed to only have one source "familiar with the matter." If that guy is credible, I'm not surprised he's not talking to every outlet.

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

Postby sunynp » Fri Apr 27, 2012 11:29 am

dooood wrote:
IAFG wrote:Or maybe ATL didn't see it. They only seem to reference older pieces on it. It was behind a pay wall, I guess.

No, the alarming part is that they did see it and couched it in their morning docket thing: http://abovethelaw.com/2012/04/morning-docket-04-27-12/

Maybe they just don't have the deets yet, but it's hard to understand why 360 is the only news outlet w/ the info


I think that no one else wants to report it until the DA actually decides to do something about the complaint. I am sure they have to investigate. If the DA doesn't proceed, then it really isn't that much of a story. Right now it is a story to us because it shows an insider saying Dewey is not going to pull out of this situation.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 27, 2012 11:44 am

Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 27, 2012 11:47 am

Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.


You're being a bit too optimistic though as well. Don't hold tight - START FINDING OTHER POSITIONS ASAP. If Dewey is acquired and Greenberg is willing to take on all of Dewey's incoming associates and SAs (unlikely) than great, but otherwise, c'mon folks. CYAs and put this behind you. You did it once...it will be tough, but you obviously have the credentials. Get on it!

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

Postby dixiecupdrinking » Fri Apr 27, 2012 11:48 am

Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.

I agree except on point (3). I don't see any plausible scenario where GT merges instead of just picking off lawyers it wants.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 27, 2012 11:48 am

Anonymous User wrote:
Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.


You're being a bit too optimistic though as well. Don't hold tight - START FINDING OTHER POSITIONS ASAP. If Dewey is acquired and Greenberg is willing to take on all of Dewey's incoming associates and SAs (unlikely) than great, but otherwise, c'mon folks. CYAs and put this behind you. You did it once...it will be tough, but you obviously have the credentials. Get on it!


I didn't mean don't explore other options. I just meant that all this talk about careers being ruined and "it ending like this" and reference to Don Henley's 1983(?) hit song are all a bit dramatic at this point.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 27, 2012 11:53 am

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.


You're being a bit too optimistic though as well. Don't hold tight - START FINDING OTHER POSITIONS ASAP. If Dewey is acquired and Greenberg is willing to take on all of Dewey's incoming associates and SAs (unlikely) than great, but otherwise, c'mon folks. CYAs and put this behind you. You did it once...it will be tough, but you obviously have the credentials. Get on it!


I didn't mean don't explore other options. I just meant that all this talk about careers being ruined and "it ending like this" and reference to Don Henley's 1983(?) hit song are all a bit dramatic at this point.


Oh for sure. Agreed. Careers are not ruined, but it is a shitty way to start. Most Dewey SAs/incoming associates I imagine will land on their feet and be better for the experience in the long run. It's a shame for this to happen after you think you've landed the first job, but there's no reason people with the qualifications for Dewey can't land a job at another similarly selective firm.

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

Postby sunynp » Fri Apr 27, 2012 12:02 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.[/quote]

You're being a bit too optimistic though as well. Don't hold tight - START FINDING OTHER POSITIONS ASAP. If Dewey is acquired and Greenberg is willing to take on all of Dewey's incoming associates and SAs (unlikely) than great, but otherwise, c'mon folks. CYAs and put this behind you. You did it once...it will be tough, but you obviously have the credentials. Get on it!


I didn't mean don't explore other options. I just meant that all this talk about careers being ruined and "it ending like this" and reference to Don Henley's 1983(?) hit song are all a bit dramatic at this point.


So what does "hold tight" mean, then? I'm curious, do either of you anonymous posters think the summer program will run? The only way I see it running is if the lenders work out something with Dewey outside of bankruptcy. Once they hit re-org, I wonder if they will keep the program. I have great confidence in Bienenstock, but I am not sure he can keep it together.

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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Fri Apr 27, 2012 12:03 pm

sunynp wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Whoa whoa whoa. Let's not get ahead of ourselves here: (1) the SA program hasn't been cancelled, (2) no criminal charges have actually been filed, this may turn out to be some partners who are "sour grapes," (3) the merger with Greenberg may still work out, (4) and it's possible Dewey will renegotiate the terms of its credit contract. SA's and 3L incoming associates, hold tight.[/quote]

You're being a bit too optimistic though as well. Don't hold tight - START FINDING OTHER POSITIONS ASAP. If Dewey is acquired and Greenberg is willing to take on all of Dewey's incoming associates and SAs (unlikely) than great, but otherwise, c'mon folks. CYAs and put this behind you. You did it once...it will be tough, but you obviously have the credentials. Get on it!


I didn't mean don't explore other options. I just meant that all this talk about careers being ruined and "it ending like this" and reference to Don Henley's 1983(?) hit song are all a bit dramatic at this point.


So what does "hold tight" mean, then? I'm curious, do either of you anonymous posters think the summer program will run? The only way I see it running is if the lenders work out something with Dewey outside of bankruptcy. Once they hit re-org, I wonder if they will keep the program. I have great confidence in Bienenstock, but I am not sure he can keep it together.


But by the tone of the responses on the last few pages of the thread, you'd think the entire Dewey summer class were killed in a tragic accident...

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

Postby sunynp » Fri Apr 27, 2012 12:07 pm

So what does "hold tight" mean, then? I'm curious, do either of you anonymous posters think the summer program will run? The only way I see it running is if the lenders work out something with Dewey outside of bankruptcy. Once they hit re-org, I wonder if they will keep the program. I have great confidence in Bienenstock, but I am not sure he can keep it together.


But by the responses on the last few pages of the thread, you'd think the entire Dewey summer class were killed in a tragic accident...



LOL. I think people were expressing condolences for the people who are totally screwed this summer. Not making the summer salary is a huge deal if you are a student. Plus some people have already rented places to live.
I think that if there had been a tragic accident there would be more concern than shown in this thread.

So do you think there is a chance at all the summer program will run? I think they aren't going to announce anything about the SAs until the whole plan is released, SAs are the least of their concerns now.

edit: is Bienenstock teaching at Harvard this semester? http://www.law.harvard.edu/faculty/dire ... tml?id=459

Additional Information

Mr. Bienenstock will teach the course Corporate Reorganization in the Spring Term 2012.
Biographical Statement

Martin J. Bienenstock is Chair of Dewey & LeBoeuf's Business Solutions & Governance Department and a member of its Executive Committee. He also teaches Corporate Reorganization as Lecturer in law at Harvard Law School and as an adjunct professor at University of Michigan Law School. At Dewey & LeBoeuf LLP, Mr. Bienenstock has created a unique, next generation, multidisciplinary group providing clients solutions that combine necessary expertise from corporate law, governance, chapter 11 reorganization, and litigation. The National Law Journal ranks Mr. Bienenstock as one of the "100 Most Influential Lawyers in America." Mr. Bienenstock provides legal and strategic advice to directors, businesses, private equity firms, investors, and creditors. Currently, Mr. Bienenstock is representing NewPage Corp. and the MF Global Holdings Ltd statutory creditors' committee in chapter 11 cases and a number of debtors in out-of-court workouts, while counseling directors, creditors, and investors in other situations.


Corporate Reorganization
Mr. Martin Bienenstock
Spring 2013 Course , Section 1
Meets: M 5:00pm - 7:00pm
1 classroom credits

Corporate Reorganization identifies the dominant causes of business failure or distress, and analyzes how (a) corporate governance can mitigate or avoid failure and (b) chapter 11 resolves failure/distress. We do this in the context of case histories, jurisprudence, and articles about failures in the auto, steel, financial, manufacturing, and industries subject to mass tort liability. In formulating resolutions of distressed situations, we apply chapter 11 resolutions as a baseline against which other resolutions are compared. The course is designed to show that optimal restructuring is a multidisciplinary undertaking, even within its legal framework where emphasis is put on governance jurisprudence, statutory interpretation, the constitutional limits of the bankruptcy power, the bankruptcy court’s jurisdiction, and the use of litigation. This is a one-credit course that meets for 7 two-hour sessions. Grades are determined by 10-page papers on approved topics. Some students may earn two credits by writing more extensive papers.


I must be tired because I find this amusing. (Prof. Bienenstock can't be here today because he has to re-org his firm.) I think I need to stay out of this forum for a while.
Last edited by sunynp on Fri Apr 27, 2012 12:16 pm, edited 2 times in total.

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

Postby dixiecupdrinking » Fri Apr 27, 2012 12:15 pm

sunynp wrote:
So what does "hold tight" mean, then? I'm curious, do either of you anonymous posters think the summer program will run? The only way I see it running is if the lenders work out something with Dewey outside of bankruptcy. Once they hit re-org, I wonder if they will keep the program. I have great confidence in Bienenstock, but I am not sure he can keep it together.


But by the responses on the last few pages of the thread, you'd think the entire Dewey summer class were killed in a tragic accident...



LOL. I think people were expressing condolences for the people who are totally screwed this summer. Not making the summer salary is a huge deal if you are a student. Plus some people have already rented places to live.
I think that if there had been a tragic accident there would be more concern than shown in this thread.

So do you think there is a chance at all the summer program will run? I think they aren't going to announce anything about the SAs until the whole plan is released, SAs are the least of their concerns now.

edit: is Bienenstock teaching at Harvard this semester? http://www.law.harvard.edu/faculty/dire ... tml?id=459

Additional Information

Mr. Bienenstock will teach the course Corporate Reorganization in the Spring Term 2012.
Biographical Statement

Martin J. Bienenstock is Chair of Dewey & LeBoeuf's Business Solutions & Governance Department and a member of its Executive Committee. He also teaches Corporate Reorganization as Lecturer in law at Harvard Law School and as an adjunct professor at University of Michigan Law School. At Dewey & LeBoeuf LLP, Mr. Bienenstock has created a unique, next generation, multidisciplinary group providing clients solutions that combine necessary expertise from corporate law, governance, chapter 11 reorganization, and litigation. The National Law Journal ranks Mr. Bienenstock as one of the "100 Most Influential Lawyers in America." Mr. Bienenstock provides legal and strategic advice to directors, businesses, private equity firms, investors, and creditors. Currently, Mr. Bienenstock is representing NewPage Corp. and the MF Global Holdings Ltd statutory creditors' committee in chapter 11 cases and a number of debtors in out-of-court workouts, while counseling directors, creditors, and investors in other situations.


Corporate Reorganization
Mr. Martin Bienenstock
Spring 2013 Course , Section 1
Meets: M 5:00pm - 7:00pm
1 classroom credits

Corporate Reorganization identifies the dominant causes of business failure or distress, and analyzes how (a) corporate governance can mitigate or avoid failure and (b) chapter 11 resolves failure/distress. We do this in the context of case histories, jurisprudence, and articles about failures in the auto, steel, financial, manufacturing, and industries subject to mass tort liability. In formulating resolutions of distressed situations, we apply chapter 11 resolutions as a baseline against which other resolutions are compared. The course is designed to show that optimal restructuring is a multidisciplinary undertaking, even within its legal framework where emphasis is put on governance jurisprudence, statutory interpretation, the constitutional limits of the bankruptcy power, the bankruptcy court’s jurisdiction, and the use of litigation. This is a one-credit course that meets for 7 two-hour sessions. Grades are determined by 10-page papers on approved topics. Some students may earn two credits by writing more extensive papers.


I must be tired because I find this amusing. I think I need to stay out of this forum for a while.

No, this is the height of irony.

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

Postby DrGuano » Fri Apr 27, 2012 12:18 pm

If I were a gambling man, I'd say that the summer program is not going to run. You run a summer program to lure talent. I doubt they are capable of doing that given their situation. Their reputation alone right now compromises that, not to mention if they're in bankruptcy, it's unlikely any creditor is willing to finance their summer outings.

I know NYU has helped out students with Dewey SAs find other jobs. Reach out to your Career Services Center ASAP. Get moving.

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

Postby starchinkilt » Fri Apr 27, 2012 12:26 pm

sunynp wrote:edit: is Bienenstock teaching at Harvard this semester? http://www.law.harvard.edu/faculty/dire ... tml?id=459



he teaches at michigan in the fall and harvard in the spring every year - the same course.

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

Postby romothesavior » Fri Apr 27, 2012 12:29 pm

Anonymous User wrote:But by the tone of the responses on the last few pages of the thread, you'd think the entire Dewey summer class were killed in a tragic accident...

There is a very, very high probability that the Dewey SAs 1) don't have any current post-grad job prospects on the table at this point, whereas they did just a few months ago, and 2) there is a slightly lower, but still very high probability they don't even have a 2L firm gig this summer. Things are getting worst every single day. I don't think expressing condolences are at all out of order.

This "sit tight" and "don't panic" schtick might have been reasonable a month or two ago. We're past that point. Impending insolvency? Reports that the firm could shutter up soon? Reports that the firm is merging with another firm? (and sorry, I highly doubt GT would take on most of the Dewey SA class. They don't have any reason to care.) Lawsuits alleging fraud against the head of the firm?

None of us want this to happen to you guys (well except maybe this Dr. Guano dude, he seems to be getting perverse pleasure out of this). But I think the time for reserved optimism is over. All signs point to things hitting the fan real soon, so I'm not sure why you think expressing our sympathies to the SAs is out of place.

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Re: How to handle Dewey (or similar firms)

Postby Morgan12Oak » Fri Apr 27, 2012 12:37 pm

DrGuano wrote:
Anonymous User wrote:
I am not innocent in all this. I regret claiming that I was a homosexual during my callback in the LA office, where I just assumed everyone else was gay, gay all the way. I did it purely for diversity points. Lot of good that did me. Shannon, if you are listening out there --- I am sorry you are no longer the LA recruiting director, and I am even sorrier that I told you I liked men. You were a nice lady who did not deserve my lies or the implosion of the firm you so cheerily shilled for. The frappuccino you bought for me was fabulous, even if the $7.49 you spent on it only hastened Dewey's insolvency. I hope you have found a more stable gig and would like to take you out to a heterosexual dinner sometime, assuming you are still alive and in the LA area. You have my number.


And I got flamed in this thread... Wooo! Someone else to take the heat!


What is this I don't even only goes like 10% of the way to my what the fuck level on this one. So many what the fucks going on here. This contributes to Dewey's collapse and how?

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

Postby DrGuano » Fri Apr 27, 2012 12:41 pm

romothesavior wrote:
Anonymous User wrote:But by the tone of the responses on the last few pages of the thread, you'd think the entire Dewey summer class were killed in a tragic accident...

There is a very, very high probability that the Dewey SAs 1) don't have any current post-grad job prospects on the table at this point, whereas they did just a few months ago, and 2) there is a slightly lower, but still very high probability they don't even have a 2L firm gig this summer. Things are getting worst every single day. I don't think expressing condolences are at all out of order.

This "sit tight" and "don't panic" schtick might have been reasonable a month or two ago. We're past that point. Impending insolvency? Reports that the firm could shutter up soon? Reports that the firm is merging with another firm? (and sorry, I highly doubt GT would take on most of the Dewey SA class. They don't have any reason to care.) Lawsuits alleging fraud against the head of the firm?

None of us want this to happen to you guys (well except maybe this Dr. Guano dude, he seems to be getting perverse pleasure out of this). But I think the time for reserved optimism is over. All signs point to things hitting the fan real soon, so I'm not sure why you think expressing our sympathies to the SAs is out of place.


Not true Tony Homo. Dr. Guano has no perverse pleasure. Simply made a point that there were reasons to avoid Dewey, even if they weren't the same reasons that may ultimately bring their demise. It's the same argument with the NYLS/Cooley lawsuits. I feel bad for people in this situation and don't wish it upon anyone (except for maybe the kid at my school), however, an informed decision would have at least raised some red flags about Dewey. Plain and simple.

All that aside, we're all following closely - for whatever your reasons, your interest is clearly piqued because it is fascinating. It's not perverse pleasure that I take interest.

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

Postby dooood » Fri Apr 27, 2012 12:47 pm

Lol stop dude. "Sorry bro. Looks like you'll summer associating with the unemployment office" is the definition of schadenfreude.




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