Who's Next???

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Anonymous User
Posts: 273599
Joined: Tue Aug 11, 2009 9:32 am

Who's Next???

Postby Anonymous User » Mon Jun 25, 2012 5:27 pm

So when Dewey went down in flames, I saw an ex-partner on Bloomberg Law predict that 4 or 5 of the other biggest firms are going to crash, too.

Who will they be??

And how would this affect those who had accepted offers there when it eventually happens?

anonymcoffee
Posts: 188
Joined: Fri Jan 28, 2011 8:31 pm

Re: Who's Next???

Postby anonymcoffee » Mon Jun 25, 2012 5:30 pm

Lanthan or Ropes? ...based on lack of start dates, SA class...who knows, the whole economy is so shitty it doesn't even matter anymore. we're used to the new normal of no jobs.

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sunynp
Posts: 1899
Joined: Tue May 24, 2011 2:06 pm

Re: Who's Next???

Postby sunynp » Mon Jun 25, 2012 5:30 pm

Anonymous User wrote:So when Dewey went down in flames, I saw an ex-partner on Bloomberg Law predict that 4 or 5 of the other biggest firms are going to crash, too.

Who will they be??

And how would this affect those who had accepted offers there when it eventually happens?


Here is a newsflash - if your firm collapses, you no longer have a job. You have to find another one.

I don't think anyone knows which firm is likely to collapse. Possibly if you were a lender to biglaw firms you would have an idea of their financial state. Even the partners didn't know what was going on at Dewey. Dewey was unique in that they had issued bonds. I haven't seen any other firm take on debt by issuing bonds.

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Julio_El_Chavo
Posts: 803
Joined: Mon Jan 31, 2011 11:09 pm

Re: Who's Next???

Postby Julio_El_Chavo » Mon Jun 25, 2012 5:32 pm

Look for firms with large, unfunded retirement obligations for equity partners. I'm looking at you, GDC.

http://online.wsj.com/article/SB1000142 ... 98056.html

abc12345675
Posts: 373
Joined: Tue Jun 05, 2012 11:27 am

Re: Who's Next???

Postby abc12345675 » Mon Jun 25, 2012 5:36 pm

Bottom line, no one saw Dewey coming 9 months ago. So there's no way to know what will happen 9 months from now.




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