Looks like bad news for folks planning on doing corp work Forum
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- Julio_El_Chavo
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Looks like bad news for folks planning on doing corp work
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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.
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.
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Re: Looks like bad news for folks planning on doing corp work
I feel bad for the banks. All four of them.
#OWS
#OWS
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Re: Looks like bad news for folks planning on doing corp work
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
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
Different poster.Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.
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
Could be bad news for cap markets and, in turn, m&a, which really feed a lot of ny centric firms.
- Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work
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.Anonymous User wrote: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
Yep. That's what what they thought about a little V10 knows as Latham in 2007.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.Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.
- Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work
Latham is universally acknowledged as second tier when it comes to most types of corporate work.Renzo wrote:Yep. That's what what they thought about a little V10 knows as Latham in 2007.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.Anonymous User wrote: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
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.Julio_El_Chavo wrote:Latham is universally acknowledged as second tier when it comes to most types of corporate work.Renzo wrote:Yep. That's what what they thought about a little V10 knows as Latham in 2007.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.Anonymous User wrote:Not a direct correlation. I've been busy as hell all year, and so has everyone else in my group.
- Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work
LOL @ Chambers rankings.Renzo wrote: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.Julio_El_Chavo wrote:Latham is universally acknowledged as second tier when it comes to most types of corporate work.
- rayiner
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Re: Looks like bad news for folks planning on doing corp work
Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.Renzo wrote: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.Julio_El_Chavo wrote:Latham is universally acknowledged as second tier when it comes to most types of corporate work.Renzo wrote:Yep. That's what what they thought about a little V10 knows as Latham in 2007.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.
- monkey85
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Re: Looks like bad news for folks planning on doing corp work
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?
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
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.rayiner wrote:Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.
- manofjustice
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Re: Looks like bad news for folks planning on doing corp work
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.
- rayiner
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Re: Looks like bad news for folks planning on doing corp work
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.Julio_El_Chavo wrote: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.rayiner wrote:Seriously. There is a reason Latham shot back into the V10. It's an objectively great firm.
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Re: Looks like bad news for folks planning on doing corp work
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
Latham has a much broader set of practices than the V5. E.g. top-notch telecom practice in DC, highly-ranked appellate practice, etc.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
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Re: Looks like bad news for folks planning on doing corp work
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 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
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Re: Looks like bad news for folks planning on doing corp work
i thought it was obvious i was quoting chambers and not speaking from personal experience. im not going to pretend to be a securities expertDODGERS3271 wrote: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 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
- Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work
Interesting rumors about Latham: http://xoxohth.com/thread.php?thread_id ... forum_id=2
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- rayiner
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Re: Looks like bad news for folks planning on doing corp work
LOLatham, amirite?Julio_El_Chavo wrote:Interesting rumors about Latham: http://xoxohth.com/thread.php?thread_id ... forum_id=2
- swc65
- Posts: 1003
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Re: Looks like bad news for folks planning on doing corp work
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!!
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Re: Looks like bad news for folks planning on doing corp work
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.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!!
- Julio_El_Chavo
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Re: Looks like bad news for folks planning on doing corp work
M&A or finance?itbdvorm wrote: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.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!!
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