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The Super Rich

Posted: Mon Apr 28, 2014 3:10 pm
by lawstudent_87

Re: The Super Rich

Posted: Mon Apr 28, 2014 3:21 pm
by Jsa725
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Re: The Super Rich

Posted: Mon Apr 28, 2014 3:40 pm
by Pokemon
WSJ typo... what is this world coming down to??

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:02 pm
by Law Student 2848
“ 'The Super Rich'—a group that includes white-shoe New York firms, super-profitable mega-boutiques and firms that have grown from regional roots to become leading national players" --> Which firms are what on this list?

Boies, Schiller & Flexner
Cadwalader, Wickersham & Taft
Cahill Gordon & Reindel
Cleary Gottlieb Steen & Hamilton
Cravath, Swaine & Moore
Davis Polk & Wardwell
Debevoise & Plimpton
Gibson, Dunn & Crutcher
Kirkland & Ellis
Latham & Watkins
Milbank, Tweed, Hadley & McCloy
Paul Hastings
Paul, Weiss, Rifkind, Wharton & Garrison
Quinn Emanuel Urquhart & Sullivan
Schulte Roth & Zabel
Simpson Thacher & Bartlett
Skadden, Arps, Slate, Meagher & Flom
Sullivan & Cromwell
Wachtell, Lipton, Rosen & Katz
Willkie Farr & Gallagher

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:13 pm
by 84651846190
Law Student 2848 wrote:“ 'The Super Rich'—a group that includes white-shoe New York firms, super-profitable mega-boutiques and firms that have grown from regional roots to become leading national players" --> Which firms are what on this list?
Boies, Schiller & Flexner - super-profitable lit boutique
Cadwalader, Wickersham & Taft - overrated shit firm
Cahill Gordon & Reindel - sweatshop shit firm
Cleary Gottlieb Steen & Hamilton - white shoe NYC
Cravath, Swaine & Moore - white shoe NYC
Davis Polk & Wardwell - white shoe NYC
Debevoise & Plimpton - white shoe NYC
Gibson, Dunn & Crutcher - regional LA firm that grew into a "national player" (I guess)
Kirkland & Ellis - regional Chicago firm that grew into a "national player" (I guess)
Latham & Watkins - regional LA firm that grew into a "national player" (I guess)
Milbank, Tweed, Hadley & McCloy - overrated shit firm
Paul Hastings - shit
Paul, Weiss, Rifkind, Wharton & Garrison - white shoe NYC
Quinn Emanuel Urquhart & Sullivan - overrated shit firm
Schulte Roth & Zabel - shit
Simpson Thacher & Bartlett - white shoe NYC
Skadden, Arps, Slate, Meagher & Flom - white shoe NYC
Sullivan & Cromwell - white shoe NYC
Wachtell, Lipton, Rosen & Katz - white shoe NYC
Willkie Farr & Gallagher - shit

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:14 pm
by bjsesq
Saw Cadwalader. Saw super rich. Lol'd and lol'd. Saw Cadwalader.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:15 pm
by lawstudent_87
True white-shoe:

Cadwalader, Wickersham & Taft
Cravath, Swaine & Moore
Davis Polk & Wardwell
Debevoise & Plimpton
Gibson, Dunn & Crutcher
Latham & Watkins
Milbank, Tweed, Hadley & McCloy
Simpson Thacher & Bartlett
Sullivan & Cromwell
Willkie Farr & Gallagher

"New" white-shoe:
Cahill Gordon & Reindel
Cleary Gottlieb Steen & Hamilton
Gibson, Dunn & Crutcher
Paul, Weiss, Rifkind, Wharton & Garrison
Quinn Emanuel Urquhart & Sullivan
Skadden, Arps, Slate, Meagher & Flom
Wachtell, Lipton, Rosen & Katz

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:16 pm
by lawstudent_87

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:16 pm
by 84651846190
Latham started in LA and is less of an "old" white shoe firm than Gibson Dunn.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:26 pm
by lawstudent_87
Biglaw_Associate_V20 wrote:Latham started in LA and is less of an "old" white shoe firm than Gibson Dunn.

idk, I'm pretty sure that Wikipedia page is scientifically accurate. Was Latham WASPier than Gibson Dunn back in the day?

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:32 pm
by Blindmelon
Wow, didn't know a single person cared about the white shoe designation. The more you know.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:34 pm
by 84651846190
lawstudent_87 wrote:
Biglaw_Associate_V20 wrote:Latham started in LA and is less of an "old" white shoe firm than Gibson Dunn.

idk, I'm pretty sure that Wikipedia page is scientifically accurate. Was Latham WASPier than Gibson Dunn back in the day?
There must be some way we can empirically test this. Let's survey surviving relatives to see how many salmon colored polos and pairs of boat shoes each firm's founders owned.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:35 pm
by 84651846190
Blindmelon wrote:Wow, didn't know a single person cared about the white shoe designation. The more you know.
According to OP's article, people who are willing to pay lots of money for legal services care about this to some extent.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:35 pm
by Blindmelon
Biglaw_Associate_V20 wrote:
lawstudent_87 wrote:
Biglaw_Associate_V20 wrote:Latham started in LA and is less of an "old" white shoe firm than Gibson Dunn.

idk, I'm pretty sure that Wikipedia page is scientifically accurate. Was Latham WASPier than Gibson Dunn back in the day?
There must be some way we can empirically test this. Let's survey surviving relatives to see how many salmon colored polos and pairs of boat shoes each firm's founders owned.
That would make Ropes a whiteshoe firm wouldn't it?

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:43 pm
by lawstudent_87
Blindmelon wrote:
Biglaw_Associate_V20 wrote:
lawstudent_87 wrote:
Biglaw_Associate_V20 wrote:Latham started in LA and is less of an "old" white shoe firm than Gibson Dunn.

idk, I'm pretty sure that Wikipedia page is scientifically accurate. Was Latham WASPier than Gibson Dunn back in the day?
There must be some way we can empirically test this. Let's survey surviving relatives to see how many salmon colored polos and pairs of boat shoes each firm's founders owned.
That would make Ropes a whiteshoe firm wouldn't it?

Ropes is white-shoe but not Super Rich.

Re: The Super Rich

Posted: Mon Apr 28, 2014 5:54 pm
by lawstudent_87
bjsesq wrote:Saw Cadwalader. Saw super rich. Lol'd and lol'd. Saw Cadwalader.
lol? I don't get it...? Cadwalader had profits per equity partner of $2,610,000 and revenue per lawyer of $1,100,000. Cadwalader ranked 9th in profitability... Seems pretty legitimate to me.


By the way, this is a pretty cool graph for anyone that is interested in seeing how all the firms compare:

http://www.americanlawyer.com/id=1202652364056

Re: The Super Rich

Posted: Mon Apr 28, 2014 6:48 pm
by OneMoreLawHopeful
Biglaw_Associate_V20 wrote:
Law Student 2848 wrote:“ 'The Super Rich'—a group that includes white-shoe New York firms, super-profitable mega-boutiques and firms that have grown from regional roots to become leading national players" --> Which firms are what on this list?
Boies, Schiller & Flexner - super-profitable lit boutique
Cadwalader, Wickersham & Taft - overrated shit firm
Cahill Gordon & Reindel - sweatshop shit firm
Cleary Gottlieb Steen & Hamilton - white shoe NYC
Cravath, Swaine & Moore - white shoe NYC
Davis Polk & Wardwell - white shoe NYC
Debevoise & Plimpton - white shoe NYC
Gibson, Dunn & Crutcher - regional LA firm that grew into a "national player" (I guess)
Kirkland & Ellis - regional Chicago firm that grew into a "national player" (I guess)
Latham & Watkins - regional LA firm that grew into a "national player" (I guess)
Milbank, Tweed, Hadley & McCloy - overrated shit firm
Paul Hastings - shit
Paul, Weiss, Rifkind, Wharton & Garrison - white shoe NYC
Quinn Emanuel Urquhart & Sullivan - overrated shit firm
Schulte Roth & Zabel - shit
Simpson Thacher & Bartlett - white shoe NYC
Skadden, Arps, Slate, Meagher & Flom - white shoe NYC
Sullivan & Cromwell - white shoe NYC
Wachtell, Lipton, Rosen & Katz - white shoe NYC
Willkie Farr & Gallagher - shit
This is some pretty egregious pro-NYC trolling.

EDIT: (White & Case is the only "traditional white shoe" NYC-based v20 firm that didn't make the list; outed as White & Case associate)

Re: The Super Rich

Posted: Mon Apr 28, 2014 9:39 pm
by MikeJD
Does it mean that firms like melveny, which saw a 10% decline in revenue, might tell their SA's they need to look elsewhere??

Re: The Super Rich

Posted: Mon Apr 28, 2014 9:46 pm
by patogordo
yea OMM probably won't exist in 5 years

Re: The Super Rich

Posted: Mon Apr 28, 2014 10:06 pm
by goldeneye
patogordo wrote:yea OMM probably won't exist in 5 years
because of this there are going to be 50 more pages of the firms to avoid because people freak out. That said, I give it 3 years.

Re: The Super Rich

Posted: Mon Apr 28, 2014 11:40 pm
by jd20132013
wasn't O'Melveny allegedly "on the brink" in 2011?

Re: The Super Rich

Posted: Mon Apr 28, 2014 11:46 pm
by thirtyandseven
The largest revenue gains in 2013 went to another group: the six megafirms that are structured as so-called vereins . . .

The verins charted a 24.9% increase in revenue . . .
Really, WSJ?

Re: The Super Rich

Posted: Mon Apr 28, 2014 11:57 pm
by 09042014
Biglaw_Associate_V20 wrote:
Law Student 2848 wrote:“ 'The Super Rich'—a group that includes white-shoe New York firms, super-profitable mega-boutiques and firms that have grown from regional roots to become leading national players" --> Which firms are what on this list?
Boies, Schiller & Flexner - super-profitable lit boutique
Cadwalader, Wickersham & Taft - overrated shit firm
Cahill Gordon & Reindel - sweatshop shit firm
Cleary Gottlieb Steen & Hamilton - white shoe NYC
Cravath, Swaine & Moore - white shoe NYC
Davis Polk & Wardwell - white shoe NYC
Debevoise & Plimpton - white shoe NYC
Gibson, Dunn & Crutcher - regional LA firm that grew into a "national player" (I guess)
Kirkland & Ellis - regional Chicago firm that grew into a "national player" (I guess)
Latham & Watkins - regional LA firm that grew into a "national player" (I guess)
Milbank, Tweed, Hadley & McCloy - overrated shit firm
Paul Hastings - shit
Paul, Weiss, Rifkind, Wharton & Garrison - white shoe NYC
Quinn Emanuel Urquhart & Sullivan - overrated shit firm
Schulte Roth & Zabel - shit
Simpson Thacher & Bartlett - white shoe NYC
Skadden, Arps, Slate, Meagher & Flom - white shoe NYC
Sullivan & Cromwell - white shoe NYC
Wachtell, Lipton, Rosen & Katz - white shoe NYC
Willkie Farr & Gallagher - shit
Pretty sure you just outed your firm here brah.

Re: The Super Rich

Posted: Tue Apr 29, 2014 5:17 pm
by MikeJD
Wow if Melveny dumps their incoming class(2013 SA's).

Re: The Super Rich

Posted: Tue Apr 29, 2014 6:57 pm
by 09042014
MikeJD wrote:Wow if Melveny dumps their incoming class(2013 SA's).
Not sure why'd they do that. Their SA salaries aren't that much. You'd have to worry more about no offers.

But OMM has been declining for a while. It's not sudden. It would shock me if they overhired.