Jones Day opens office in Detroit

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Jones Day opens office in Detroit

Postby Anonymous User » Thu Mar 12, 2015 2:22 pm


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reasonable person
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Re: Jones Day opens office in Detroit

Postby reasonable person » Thu Mar 12, 2015 2:23 pm

Detroit has always been and will continue to be one of the great cities of the United States...


no.

Nomo
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Re: Jones Day opens office in Detroit

Postby Nomo » Thu Mar 12, 2015 2:43 pm

reasonable person wrote:
Detroit has always been and will continue to be one of the great cities of the United States...


no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.

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Re: Jones Day opens office in Detroit

Postby Spartan_Alum_12 » Thu Mar 12, 2015 2:58 pm

Nomo wrote:
reasonable person wrote:
Detroit has always been and will continue to be one of the great cities of the United States...


no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.


It will never be the major city it once was (almost 2M people in 1950), but still has potential for some of the reasons you listed. Its downtown is improving, and there are developing areas like Midtown, however it will take generations to restore the neighborhoods and blight.

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jbiresq
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Re: Jones Day opens office in Detroit

Postby jbiresq » Thu Mar 12, 2015 4:57 pm

Is this so they keep raking in huge fees from taxpayers after being appointed by one of their own partners?

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Re: Jones Day opens office in Detroit

Postby smaug » Thu Mar 12, 2015 5:09 pm

jbiresq wrote:Is this so they keep raking in huge fees from taxpayers after being appointed by one of their own partners?

I figured it was so they could lower their costs while they kept raking in huge fees from taxpayers after being appointed by one of their own partners.

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Re: Jones Day opens office in Detroit

Postby Anonymous User » Thu Mar 12, 2015 5:13 pm

Jason Taverner wrote:
jbiresq wrote:Is this so they keep raking in huge fees from taxpayers after being appointed by one of their own partners?

I figured it was so they could lower their costs while they kept raking in huge fees from taxpayers after being appointed by one of their own partners.


^^Cruising for libel lawsuits from KO and JD: http://abovethelaw.com/2014/06/biglaw-f ... hissy-fit/

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smaug
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Re: Jones Day opens office in Detroit

Postby smaug » Thu Mar 12, 2015 5:19 pm

Anonymous User wrote:
Jason Taverner wrote:
jbiresq wrote:Is this so they keep raking in huge fees from taxpayers after being appointed by one of their own partners?

I figured it was so they could lower their costs while they kept raking in huge fees from taxpayers after being appointed by one of their own partners.


^^Cruising for libel lawsuits from KO and JD: http://abovethelaw.com/2014/06/biglaw-f ... hissy-fit/


Did you read the link you posted?

(this post brought to you by Jones Day, a worldwide firm)

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CaptainJapan
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Re: Jones Day opens office in Detroit

Postby CaptainJapan » Thu Mar 12, 2015 5:34 pm

From outside of Detroit...the city itself is a nightmare but don't kid yourself, the auto execs live a few miles away and those towns (Bloomfield Hills/Birmingham) are about as nice as it gets at a fraction of the COL you'd have in New Canaan or Montclair.

In a word, I'm pumped about this.

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Re: Jones Day opens office in Detroit

Postby Anonymous User » Thu Mar 12, 2015 5:54 pm

uhh, does anybody know if they are HIRING? 3Ls?

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Re: Jones Day opens office in Detroit

Postby dixiecupdrinking » Thu Mar 12, 2015 11:55 pm

Why is this press release so long

BeenDidThat
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Re: Jones Day opens office in Detroit

Postby BeenDidThat » Fri Mar 13, 2015 12:52 pm

Nomo wrote:
reasonable person wrote:
Detroit has always been and will continue to be one of the great cities of the United States...


no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.


He didn't write it off. He took issue with saying it's a "great city," because it's not. It has some potential and was once quite impressive, but the city proper is a shit hole right now.

The real estate market there proves it. People are selling houses for a few thousand dollars (or less); demand for real estate is abysmal. Given the hilariously bubbilicious real estate situation in the U.S., prices that low are proof positive that anybody with something to lose (like $) doesn't want to touch Detroit.

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Re: Jones Day opens office in Detroit

Postby Nomo » Fri Mar 13, 2015 1:00 pm

BeenDidThat wrote:
Nomo wrote:
reasonable person wrote:
Detroit has always been and will continue to be one of the great cities of the United States...


no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.


He didn't write it off. He took issue with saying it's a "great city," because it's not. It has some potential and was once quite impressive, but the city proper is a shit hole right now.

The real estate market there proves it. People are selling houses for a few thousand dollars (or less); demand for real estate is abysmal. Given the hilariously bubbilicious real estate situation in the U.S., prices that low are proof positive that anybody with something to lose (like $) doesn't want to touch Detroit.


I think when most people refer to Detroit they are referring to more than the city proper. The Detroit Pistons don't play in Detroit, but they are still the Detroit Pistons.

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Re: Jones Day opens office in Detroit

Postby XxSpyKEx » Fri Mar 13, 2015 1:06 pm

Is the office actually going to be located in the city of Detroit? Detroit is an epic shithole, and, if it is going to be located in the city of Detroit, that kind of sucks for anyone who winds up working out of that office... Especially given the fact that Jones Day will be the only truly national law firm in the Detroit metro area (AFAIK).

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Re: Jones Day opens office in Detroit

Postby Anonymous User » Fri Mar 13, 2015 1:15 pm

XxSpyKEx wrote:Is the office actually going to be located in the city of Detroit? Detroit is an epic shithole, and, if it is going to be located in the city of Detroit, that kind of sucks for anyone who winds up working out of that office... Especially given the fact that Jones Day will be the only truly national law firm in the Detroit metro area (AFAIK).


From what i would expect it would be located in the City Center/Downtown area. Which, much to what you probably know is actually nice and unfortunately getting expensive - a lot of the rents in the downtown area are starting to reach Chicago prices - but still has a way to go.

Foley and Lardner has had an office in Detroit for about 10 years. Otherwise the midsize regional firms are it - ClarkHill, Dykema, and DW might claim national but it's not to the same degree as JD or Foley. When JD comes they'd clearly become the top, then Foley, then Honigman, etc.

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Re: Jones Day opens office in Detroit

Postby Anonymous User » Fri Mar 13, 2015 1:18 pm

BeenDidThat wrote:
Nomo wrote:
reasonable person wrote:
Detroit has always been and will continue to be one of the great cities of the United States...


no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.


He didn't write it off. He took issue with saying it's a "great city," because it's not. It has some potential and was once quite impressive, but the city proper is a shit hole right now.

The real estate market there proves it. People are selling houses for a few thousand dollars (or less); demand for real estate is abysmal. Given the hilariously bubbilicious real estate situation in the U.S., prices that low are proof positive that anybody with something to lose (like $) doesn't want to touch Detroit.


for blighted houses, sure the prices are through the floor - but houses are still selling in Detroit Proper (not Grosse Pointe, Bloomfield, etc) for over 750k+ - some apartments on the riverfront are listed for 450k+ and selling quick -As a budding lawyer you should make sure to check your facts.

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Re: Jones Day opens office in Detroit

Postby XxSpyKEx » Fri Mar 13, 2015 2:13 pm

Anonymous User wrote:
XxSpyKEx wrote:Is the office actually going to be located in the city of Detroit? Detroit is an epic shithole, and, if it is going to be located in the city of Detroit, that kind of sucks for anyone who winds up working out of that office... Especially given the fact that Jones Day will be the only truly national law firm in the Detroit metro area (AFAIK).


From what i would expect it would be located in the City Center/Downtown area. Which, much to what you probably know is actually nice and unfortunately getting expensive - a lot of the rents in the downtown area are starting to reach Chicago prices - but still has a way to go.

Foley and Lardner has had an office in Detroit for about 10 years. Otherwise the midsize regional firms are it - ClarkHill, Dykema, and DW might claim national but it's not to the same degree as JD or Foley. When JD comes they'd clearly become the top, then Foley, then Honigman, etc.


I was actually in Detroit last month (unfortunately). The rent is up there for super nice downtown Detroit apartments (but still cheaper than the same properties in Chicago), but the area is pretty epically horrendous. I mean it's a straight up ghost town (especially after 5pm or 6pm), and everything is very, very run down, relative to other major cities like Chicago. Spend a day in downtown Chicago, NYC, etc., and then spend a day in Detroit. There's a pretty big difference. I'm not trying to bash on anyone's hometown, so don't take it personally, but Detroit is objectively shitty relative to other major cities.

Anonymous User wrote:
BeenDidThat wrote:
Nomo wrote:
reasonable person wrote:
no.


Its the 14th largest metro area in the country (bigger than Seattle). It is the home of the US auto industry, which while declining in importance, is still a huge industry. Its the busiest trade crossing point in North America, and its hard to see how that could ever change. And while the city itself is a mess, the metro has a fairly large population of affluent, educated people. I wouldn't write it off that quickly.


He didn't write it off. He took issue with saying it's a "great city," because it's not. It has some potential and was once quite impressive, but the city proper is a shit hole right now.

The real estate market there proves it. People are selling houses for a few thousand dollars (or less); demand for real estate is abysmal. Given the hilariously bubbilicious real estate situation in the U.S., prices that low are proof positive that anybody with something to lose (like $) doesn't want to touch Detroit.


for blighted houses, sure the prices are through the floor - but houses are still selling in Detroit Proper (not Grosse Pointe, Bloomfield, etc) for over 750k+ - some apartments on the riverfront are listed for 450k+ and selling quick -As a budding lawyer you should make sure to check your facts.


In all fairness, for every one of those $750k houses in Detroit, there are at least 100 "blighted houses" that Detroit will pay you to take. And, frankly, I don't think the downtown/midtown areas of Detroit are very nice, despite what people say. Spend a day in downtown Chicago, NYC, etc., and then spend a day in Detroit. There's a pretty big difference. Detroit is a very rough area, which is why most people don't actually live in Detroit (it's pretty much a ghost town after 5 or 6pm).

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Re: Jones Day opens office in Detroit

Postby Anonymous User » Wed Apr 29, 2015 11:41 am

Any thoughts on how JD will recruit to go the office: lateral, summer associate -> new hire, etc? Or what the size of their office will be? Foley is around 40 but looking to double in size over the next few years. All other major firms are between 75-150ish in Detroit.

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Re: Jones Day opens office in Detroit

Postby krads153 » Wed Apr 29, 2015 2:44 pm

Interesting. Maybe rent is dirt cheap in Detroit proper? Gotta say - Detroit proper is kind of crappy, but there are parts around it (Grosse Ile Township, etc.) that are expensive and really nice and have a ton of rich auto execs. Some of the richest places in the country (highest income per capita) are in Michigan.

Maybe I'm unusual, but I didn't like Chicago at all when I visited...

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Re: Jones Day opens office in Detroit

Postby Mozart Lacrimosa » Wed Apr 29, 2015 3:09 pm

I read theres gonna be like 10 total staff so i don't think SA will be realistic in the near future.

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Re: Jones Day opens office in Detroit

Postby XxSpyKEx » Wed Apr 29, 2015 6:42 pm

krads153 wrote:Interesting. Maybe rent is dirt cheap in Detroit proper? Gotta say - Detroit proper is kind of crappy, but there are parts around it (Grosse Ile Township, etc.) that are expensive and really nice and have a ton of rich auto execs. Some of the richest places in the country (highest income per capita) are in Michigan.

Maybe I'm unusual, but I didn't like Chicago at all when I visited...


Some of the Detroit suburbs are exceptionally nice. And relative to most of the country, they are really cheap (you're talking about what would probably be $100 million+ dollar houses in NYC going for around a million or two in the Detroit suburbs). The negative is that you're still in a suburb and there's no real city anywhere around. Not bad if you're older and have kids or something like that though.

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Re: Jones Day opens office in Detroit

Postby krads153 » Thu Apr 30, 2015 10:56 am

XxSpyKEx wrote:
krads153 wrote:Interesting. Maybe rent is dirt cheap in Detroit proper? Gotta say - Detroit proper is kind of crappy, but there are parts around it (Grosse Ile Township, etc.) that are expensive and really nice and have a ton of rich auto execs. Some of the richest places in the country (highest income per capita) are in Michigan.

Maybe I'm unusual, but I didn't like Chicago at all when I visited...


Some of the Detroit suburbs are exceptionally nice. And relative to most of the country, they are really cheap (you're talking about what would probably be $100 million+ dollar houses in NYC going for around a million or two in the Detroit suburbs). The negative is that you're still in a suburb and there's no real city anywhere around. Not bad if you're older and have kids or something like that though.


Yeah, I dunno. I'd take suburbs right now over NYC. I work too much to do anything in NYC and everything is SUPER DUPER expensive. I think I'm literally throwing away money for no reason. There's no point in a living in a big city when you never have the time to do anything. I think I'd only feel like it was worth staying in NYC if I saved up $10 million and had investment income so I didn't have to work.

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Re: Jones Day opens office in Detroit

Postby RareExports » Thu Apr 30, 2015 11:47 am

Detroit to 190

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Re: Jones Day opens office in Detroit

Postby Desert Fox » Thu Apr 30, 2015 11:55 am

My firm has two Baltimore offices. lol. I used to think about transferring for dat savings. But I don't wanna have to buy a street sweeper.

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Re: Jones Day opens office in Detroit

Postby XxSpyKEx » Thu Apr 30, 2015 12:59 pm

Desert Fox wrote:My firm has two Baltimore offices. lol. I used to think about transferring for dat savings. But I don't wanna have to buy a street sweeper.


But you could RIOT!! :lol:

krads153 wrote:
XxSpyKEx wrote:
krads153 wrote:Interesting. Maybe rent is dirt cheap in Detroit proper? Gotta say - Detroit proper is kind of crappy, but there are parts around it (Grosse Ile Township, etc.) that are expensive and really nice and have a ton of rich auto execs. Some of the richest places in the country (highest income per capita) are in Michigan.

Maybe I'm unusual, but I didn't like Chicago at all when I visited...


Some of the Detroit suburbs are exceptionally nice. And relative to most of the country, they are really cheap (you're talking about what would probably be $100 million+ dollar houses in NYC going for around a million or two in the Detroit suburbs). The negative is that you're still in a suburb and there's no real city anywhere around. Not bad if you're older and have kids or something like that though.


Yeah, I dunno. I'd take suburbs right now over NYC. I work too much to do anything in NYC and everything is SUPER DUPER expensive. I think I'm literally throwing away money for no reason. There's no point in a living in a big city when you never have the time to do anything. I think I'd only feel like it was worth staying in NYC if I saved up $10 million and had investment income so I didn't have to work.


Problem is Detroit salaries are so much lower. I'm sure it's awesome if you can get NYC market in Detroit, but pretty much all major firms in Detroit pay a lot less. It still works out really well relative to living in NYC. But I think the best balance anywhere is Texas (Dallas/Houston), assuming you don't really care about being in NYC (I don't). Think cost of living is actually cheaper in TX than it is in Detroit, and you at least get somewhat of a city (albeit, there's not much in Dallas--haven't been to Houston). Not to mention no state income tax means you're already taking home like another $10k /year relative to NYC. But you need ties to TX to get there (similar to Detroit).




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