What is happening with Bingham Associates?

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Anonymous User
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What is happening with Bingham Associates?

Postby Anonymous User » Tue Nov 18, 2014 1:50 pm

The partners fled to MoLew. Are the associates all going with, or is it everyman for himself.

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jbiresq
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Re: What is happening with Bingham Associates?

Postby jbiresq » Tue Nov 18, 2014 1:53 pm

Morgan partners will vote this month on the exact number of Bingham associates who will get offers.


http://www.philly.com/philly/business/2 ... 3RuWbAB.99

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fats provolone
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Re: What is happening with Bingham Associates?

Postby fats provolone » Tue Nov 18, 2014 1:56 pm

how are your knife skills, anon?

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ExBiglawAssociate
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Re: What is happening with Bingham Associates?

Postby ExBiglawAssociate » Tue Nov 18, 2014 2:04 pm

first prize is an associate position at MoLew
second prize is a set of steak knives
third prize is you're fired

Anonymous User
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Re: What is happening with Bingham Associates?

Postby Anonymous User » Tue Nov 18, 2014 3:28 pm

Apparently about 300-400 will go to Morgan. The rest are probably mostly fired, though some will stay with the other partners who are leaving for other firms or forming their own small firms.

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Desert Fox
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Re: What is happening with Bingham Associates?

Postby Desert Fox » Tue Nov 18, 2014 3:36 pm

Anonymous User wrote:Apparently about 300-400 will go to Morgan. The rest are probably mostly fired, though some will stay with the other partners who are leaving for other firms or forming their own small firms.


How many associates are there now?

Anonymous User
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Re: What is happening with Bingham Associates?

Postby Anonymous User » Tue Nov 18, 2014 3:57 pm

One of my good friends just accepted an SA offer from Bingham NY over other offers based on the Hiring Partner's repeated and earnest assurances that he'd be totally fine and safe.

Is this bro completely fucked?

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Desert Fox
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Re: What is happening with Bingham Associates?

Postby Desert Fox » Tue Nov 18, 2014 4:02 pm

Anonymous User wrote:One of my good friends just accepted an SA offer from Bingham NY over other offers based on the Hiring Partner's repeated and earnest assurances that he'd be totally fine and safe.

Is this bro completely fucked?


He better start looking.

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FSK
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Re: What is happening with Bingham Associates?

Postby FSK » Tue Nov 18, 2014 4:08 pm

This "mass lateral" just shows how little value any single law firm has. They're only worth their partners books of business. Culture, history, tradition, associates, support staff, mean nothing to the modern bigflaw firm.

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mmelittlechicken
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Re: What is happening with Bingham Associates?

Postby mmelittlechicken » Tue Nov 18, 2014 4:09 pm

if you have to get assurances from the hiring partner that a firm isn't going under probably don't work there

dstars823
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Re: What is happening with Bingham Associates?

Postby dstars823 » Tue Nov 18, 2014 4:10 pm

Desert Fox wrote:
Anonymous User wrote:Apparently about 300-400 will go to Morgan. The rest are probably mostly fired, though some will stay with the other partners who are leaving for other firms or forming their own small firms.


How many associates are there now?


Based on the NALP form looks like 360 Associates currently

Anonymous User
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Re: What is happening with Bingham Associates?

Postby Anonymous User » Tue Nov 18, 2014 4:12 pm

Anonymous User wrote:The partners fled to MoLew. Are the associates all going with, or is it everyman for himself.


"Morgan partners will vote this month on the exact number of Bingham associates who will get offers."

Sounds Promising

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Manhattan
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Re: What is happening with Bingham Associates?

Postby Manhattan » Tue Nov 18, 2014 4:43 pm

Anonymous User wrote:One of my good friends just accepted an SA offer from Bingham NY over other offers based on the Hiring Partner's repeated and earnest assurances that he'd be totally fine and safe.

Is this bro completely fucked?
Your friend doesn't sound like the sharpest tool in the shed...

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Icculus
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Re: What is happening with Bingham Associates?

Postby Icculus » Tue Nov 18, 2014 4:53 pm

Manhattan wrote:
Anonymous User wrote:One of my good friends just accepted an SA offer from Bingham NY over other offers based on the Hiring Partner's repeated and earnest assurances that he'd be totally fine and safe.

Is this bro completely fucked?
Your friend doesn't sound like the sharpest tool in the shed...


Yeah, this has been coming down the pipe for awhile now.

Anonymous User
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Re: What is happening with Bingham Associates?

Postby Anonymous User » Tue Nov 18, 2014 5:13 pm

There was an associates meeting today.

1. Some associates will receive permanent offers tomorrow.
2. Some associates will receive offers through December 31st tomorrow.
3. Some associates will receive no offer.
4. The deal should close Friday.
5. Bingham will pay bonuses.
6. Bingham will continue providing benefits through December 31st. After that, moving associates will have to enroll in Morgan Lewis' plans.
7. Staff will be kept on or let go in stages.
8. All summer offers and new hire offers will be honored by Morgan Lewis.

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North
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Re: What is happening with Bingham Associates?

Postby North » Tue Nov 18, 2014 5:24 pm

Anonymous User wrote:There was an associates meeting today.

1. Some associates will receive permanent offers tomorrow.
2. Some associates will receive offers through December 31st tomorrow.
3. Some associates will receive no offer.
4. The deal should close Friday.
5. Bingham will pay bonuses.
6. Bingham will continue providing benefits through December 31st. After that, moving associates will have to enroll in Morgan Lewis' plans.
7. Staff will be kept on or let go in stages.
8. All summer offers and new hire offers will be honored by Morgan Lewis.

QFP. Surprised by #8. I guess Morgan figured it wasn't worth the ATL articles?

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shifty_eyed
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Re: What is happening with Bingham Associates?

Postby shifty_eyed » Tue Nov 18, 2014 5:26 pm

North wrote:
Anonymous User wrote:There was an associates meeting today.

1. Some associates will receive permanent offers tomorrow.
2. Some associates will receive offers through December 31st tomorrow.
3. Some associates will receive no offer.
4. The deal should close Friday.
5. Bingham will pay bonuses.
6. Bingham will continue providing benefits through December 31st. After that, moving associates will have to enroll in Morgan Lewis' plans.
7. Staff will be kept on or let go in stages.
8. All summer offers and new hire offers will be honored by Morgan Lewis.

QFP. Surprised by #8. I guess Morgan figured it wasn't worth the ATL articles?

I wonder what their offer rate will be though.

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Desert Fox
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Re: What is happening with Bingham Associates?

Postby Desert Fox » Tue Nov 18, 2014 5:27 pm

shifty_eyed wrote:
North wrote:
Anonymous User wrote:There was an associates meeting today.

1. Some associates will receive permanent offers tomorrow.
2. Some associates will receive offers through December 31st tomorrow.
3. Some associates will receive no offer.
4. The deal should close Friday.
5. Bingham will pay bonuses.
6. Bingham will continue providing benefits through December 31st. After that, moving associates will have to enroll in Morgan Lewis' plans.
7. Staff will be kept on or let go in stages.
8. All summer offers and new hire offers will be honored by Morgan Lewis.

QFP. Surprised by #8. I guess Morgan figured it wasn't worth the ATL articles?

I wonder what their offer rate will be though.


Bingham has been hurting for a while. I'd be surprised if they were recruiting large classes.

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mmelittlechicken
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Re: What is happening with Bingham Associates?

Postby mmelittlechicken » Tue Nov 18, 2014 5:28 pm

shifty_eyed wrote:
North wrote:
Anonymous User wrote:There was an associates meeting today.

1. Some associates will receive permanent offers tomorrow.
2. Some associates will receive offers through December 31st tomorrow.
3. Some associates will receive no offer.
4. The deal should close Friday.
5. Bingham will pay bonuses.
6. Bingham will continue providing benefits through December 31st. After that, moving associates will have to enroll in Morgan Lewis' plans.
7. Staff will be kept on or let go in stages.
8. All summer offers and new hire offers will be honored by Morgan Lewis.

QFP. Surprised by #8. I guess Morgan figured it wasn't worth the ATL articles?

I wonder what their offer rate will be though.

Did Bingham take that many summers? You'd think they'd keep the class pretty small given the looming shitshow.

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FSK
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Re: What is happening with Bingham Associates?

Postby FSK » Tue Nov 18, 2014 5:29 pm

Morgan just copped like $100M in Bingham's liabilities. They don't give a shit about 50 new hire salaries, who will eventually generate revenue anyway.

Cogburn87
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Re: What is happening with Bingham Associates?

Postby Cogburn87 » Tue Nov 18, 2014 5:54 pm

flawschoolkid wrote:Morgan just copped like $100M in Bingham's liabilities. They don't give a shit about 50 new hire salaries, who will eventually generate revenue anyway they will stealth after a year anyway.

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Desert Fox
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Re: What is happening with Bingham Associates?

Postby Desert Fox » Tue Nov 18, 2014 6:00 pm

Cogburn87 wrote:
flawschoolkid wrote:Morgan just copped like $100M in Bingham's liabilities. They don't give a shit about 50 new hire salaries, who will eventually generate revenue anyway they will stealth after a year anyway.


There are only 34 associates starting next year. That is roughly 1.5 associates for every 10 new partners. That isn't a high ratio at all.

Cogburn87
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Re: What is happening with Bingham Associates?

Postby Cogburn87 » Tue Nov 18, 2014 6:04 pm

Chaff is chaff

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Desert Fox
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Re: What is happening with Bingham Associates?

Postby Desert Fox » Tue Nov 18, 2014 6:05 pm

Cogburn87 wrote:Chaff is chaff


Why are you assuming they are chaff?

Cogburn87
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Re: What is happening with Bingham Associates?

Postby Cogburn87 » Tue Nov 18, 2014 6:07 pm

Bored mostly




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