Looks like bad news for folks planning on doing corp work

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Julio_El_Chavo
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Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Thu Jun 21, 2012 10:07 pm

--LinkRemoved--

I think it's safe to say that this year's OCI will be the same at best and probably slightly worse than last year's OCI, given the economic climate we're in, deal volume, etc.

SchopenhauerFTW
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Re: Looks like bad news for folks planning on doing corp work

Postby SchopenhauerFTW » Thu Jun 21, 2012 10:31 pm

I feel bad for the banks. All four of them.

#OWS

Anonymous User
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Re: Looks like bad news for folks planning on doing corp work

Postby Anonymous User » Thu Jun 21, 2012 10:48 pm

Partner at my NYC firm said that he thought next year's summer hiring will be the same or slightly worse than for summer '12. Not directly involved in hiring so, FWIW, but yeah, I think that class of 2012 and 2013 are going to be the new normal for BigLaw hiring, and we may be looking at a temporary backslide depending on the markets.

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Re: Looks like bad news for folks planning on doing corp work

Postby Anonymous User » Thu Jun 21, 2012 10:51 pm

Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.

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Re: Looks like bad news for folks planning on doing corp work

Postby Anonymous User » Thu Jun 21, 2012 10:58 pm

Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.


Different poster.

And, depends on what kind of corp work you do. You could just be doing Debt Finance and revolving loans, or doing workouts if a company is doing bad. Not all corp work has to come to a standstill in a downturn.

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Royal
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Re: Looks like bad news for folks planning on doing corp work

Postby Royal » Thu Jun 21, 2012 11:30 pm

Could be bad news for cap markets and, in turn, m&a, which really feed a lot of ny centric firms.

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Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Thu Jun 21, 2012 11:33 pm

Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.


This means nothing if you're at a tippy-top firm. A high level of business should be expected in a V5 corporate practice, even in a recession.

Renzo
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Re: Looks like bad news for folks planning on doing corp work

Postby Renzo » Fri Jun 22, 2012 12:31 am

Julio_El_Chavo wrote:
Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.


This means nothing if you're at a tippy-top firm. A high level of business should be expected in a V5 corporate practice, even in a recession.


Yep. That's what what they thought about a little V10 knows as Latham in 2007.

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Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Fri Jun 22, 2012 12:38 am

Renzo wrote:
Julio_El_Chavo wrote:
Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.


This means nothing if you're at a tippy-top firm. A high level of business should be expected in a V5 corporate practice, even in a recession.


Yep. That's what what they thought about a little V10 knows as Latham in 2007.


Latham is universally acknowledged as second tier when it comes to most types of corporate work.

Renzo
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Re: Looks like bad news for folks planning on doing corp work

Postby Renzo » Fri Jun 22, 2012 12:45 am

Julio_El_Chavo wrote:
Renzo wrote:
Julio_El_Chavo wrote:
Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.


This means nothing if you're at a tippy-top firm. A high level of business should be expected in a V5 corporate practice, even in a recession.


Yep. That's what what they thought about a little V10 knows as Latham in 2007.


Latham is universally acknowledged as second tier when it comes to most types of corporate work.


Oh. You should write a letter to the editor of Chambers, and let them know. They still mistakenly have them listed as one of only six firms in band one of the elite firms nationwide for corporate/M&A work.

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Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Fri Jun 22, 2012 12:51 am

Renzo wrote:
Julio_El_Chavo wrote:Latham is universally acknowledged as second tier when it comes to most types of corporate work.


Oh. You should write a letter to the editor of Chambers, and let them know. They still mistakenly have them listed as one of only six firms in band one of the elite firms nationwide for corporate/M&A work.


LOL @ Chambers rankings.

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rayiner
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Re: Looks like bad news for folks planning on doing corp work

Postby rayiner » Fri Jun 22, 2012 12:54 am

Renzo wrote:
Julio_El_Chavo wrote:
Renzo wrote:
Julio_El_Chavo wrote:
This means nothing if you're at a tippy-top firm. A high level of business should be expected in a V5 corporate practice, even in a recession.


Yep. That's what what they thought about a little V10 knows as Latham in 2007.


Latham is universally acknowledged as second tier when it comes to most types of corporate work.


Oh. You should write a letter to the editor of Chambers, and let them know. They still mistakenly have them listed as one of only six firms in band one of the elite firms nationwide for corporate/M&A work.


Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.

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monkey85
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Re: Looks like bad news for folks planning on doing corp work

Postby monkey85 » Fri Jun 22, 2012 1:02 am

So what are the "dependable" places for corporate work in NYC?

Is it just any NYC office of the V10? At what point in the rankings do things start to get really crappy?

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Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Fri Jun 22, 2012 3:17 am

rayiner wrote:Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.


It obviously had a lot more work dry up relative to other (better) firms. Many of Latham's layoffs involved NYC corporate associates. Latham has a bunch of opportunistic, cut-throat partners who chase after the big bucks more aggressively than Latham's peer firms during good times and slash expenses more aggressively during down times. This leads to high PPP and the appearance that they're as good as better firms during good times. They're not, as shown by how dramatically their work dried up during the downturn.

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manofjustice
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Re: Looks like bad news for folks planning on doing corp work

Postby manofjustice » Fri Jun 22, 2012 9:16 am

What are reports for OCI this year? Over at the NU thread, reports are OCI ticked up this year over last: median class sizes and GPA threasholds improved.

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rayiner
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Re: Looks like bad news for folks planning on doing corp work

Postby rayiner » Fri Jun 22, 2012 10:20 am

Julio_El_Chavo wrote:
rayiner wrote:Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.


It obviously had a lot more work dry up relative to other (better) firms. Many of Latham's layoffs involved NYC corporate associates. Latham has a bunch of opportunistic, cut-throat partners who chase after the big bucks more aggressively than Latham's peer firms during good times and slash expenses more aggressively during down times. This leads to high PPP and the appearance that they're as good as better firms during good times. They're not, as shown by how dramatically their work dried up during the downturn.


Latham's work dried up because they aggressively pursue cyclical practices. And they may very well have opportunistic partners, etc. That doesn't change the fact that they get first-rate work.

ruski
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Re: Looks like bad news for folks planning on doing corp work

Postby ruski » Fri Jun 22, 2012 10:40 am

The other v5 dominate several cirp groups. Latham is only part of the elite for m&a. Theyre bumped down for cap markets while the other v5 aren't

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rayiner
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Re: Looks like bad news for folks planning on doing corp work

Postby rayiner » Fri Jun 22, 2012 10:53 am

ruski wrote:The other v5 dominate several cirp groups. Latham is only part of the elite for m&a. Theyre bumped down for cap markets while the other v5 aren't


Latham has a much broader set of practices than the V5. E.g. top-notch telecom practice in DC, highly-ranked appellate practice, etc.

DODGERS3271
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Re: Looks like bad news for folks planning on doing corp work

Postby DODGERS3271 » Fri Jun 22, 2012 11:03 am

ruski wrote:The other v5 dominate several cirp groups. Latham is only part of the elite for m&a. Theyre bumped down for cap markets while the other v5 aren't


You clearly are a law student and not in practice. Latham is clearly top-5 in capital markets and consistently leads the IPO tables. Shoot, that's specifically what Latham is known for since the days of Michael Milken.

ruski
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Re: Looks like bad news for folks planning on doing corp work

Postby ruski » Fri Jun 22, 2012 1:48 pm

DODGERS3271 wrote:
ruski wrote:The other v5 dominate several cirp groups. Latham is only part of the elite for m&a. Theyre bumped down for cap markets while the other v5 aren't


You clearly are a law student and not in practice. Latham is clearly top-5 in capital markets and consistently leads the IPO tables. Shoot, that's specifically what Latham is known for since the days of Michael Milken.


i thought it was obvious i was quoting chambers and not speaking from personal experience. im not going to pretend to be a securities expert


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rayiner
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Re: Looks like bad news for folks planning on doing corp work

Postby rayiner » Mon Jun 25, 2012 5:05 pm

Julio_El_Chavo wrote:Interesting rumors about Latham: http://xoxohth.com/thread.php?thread_id ... forum_id=2


LOLatham, amirite?

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swc65
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Re: Looks like bad news for folks planning on doing corp work

Postby swc65 » Mon Jun 25, 2012 5:23 pm

M&A volume is notoriously volatile. Also, this is why it is good to go to a place that allows you to have a diversified practice!!

itbdvorm
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Re: Looks like bad news for folks planning on doing corp work

Postby itbdvorm » Mon Jun 25, 2012 9:08 pm

swc65 wrote:M&A volume is notoriously volatile. Also, this is why it is good to go to a place that allows you to have a diversified practice!!


FWIW, my law school roommate is at Latham in NY corporate and he says they've been "on fire" for the first half of the year. But then you have this stuff. So who knows.

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Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work

Postby Julio_El_Chavo » Mon Jun 25, 2012 9:09 pm

itbdvorm wrote:
swc65 wrote:M&A volume is notoriously volatile. Also, this is why it is good to go to a place that allows you to have a diversified practice!!


FWIW, my law school roommate is at Latham in NY corporate and he says they've been "on fire" for the first half of the year. But then you have this stuff. So who knows.


M&A or finance?




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