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Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Bingham considering Bankruptcy
Last edited by Desert Fox on Sat Jan 27, 2018 5:51 am, edited 1 time in total.
- Tiago Splitter
- Posts: 17148
- Joined: Tue Jun 28, 2011 1:20 am
Re: Bingham considering Bankruptcy
I feel like once you've mentioned the remote possibility of bankruptcy you've moved the chances of bankruptcy to much higher than remote.
- Johann
- Posts: 19704
- Joined: Wed Mar 12, 2014 4:25 pm
Re: Bingham considering Bankruptcy
yeah ill go ahead and start taking any action if anyone wants
declare bk: -200 (you lay $2 to profit $1)
not declare bk: +160 (laying $1 yields $1.60 of profit)
declare bk: -200 (you lay $2 to profit $1)
not declare bk: +160 (laying $1 yields $1.60 of profit)
-
- Posts: 375
- Joined: Thu Nov 01, 2012 4:33 pm
Re: Bingham considering Bankruptcy
Sounds like posturing to make sure the merger with MLB goes through.
- jbiresq
- Posts: 221
- Joined: Wed Sep 08, 2010 1:52 pm
Re: Bingham considering Bankruptcy
In before the rampant speculation about the financial health of other firms
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- Johann
- Posts: 19704
- Joined: Wed Mar 12, 2014 4:25 pm
Re: Bingham considering Bankruptcy
The general rule right now is firms are crushing. So I doubt the thread turns into that.
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- Posts: 67
- Joined: Thu May 02, 2013 7:03 pm
Re: Bingham considering Bankruptcy
big-law firms are on the way out in the near future save for the top 4 or 5 big law firms
Source: Google Search, basic economics
Source: Google Search, basic economics
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- Posts: 8058
- Joined: Tue Oct 15, 2013 2:47 pm
Re: Bingham considering Bankruptcy
I think the fundamental model is def. chaning, but come on, 5? There's clearly more demand for top tier legal work than the even the top 20 law firms can handle. Maybe we don't need 250 nationalish law firms, but 5 is ridiculous.
Last edited by FSK on Sat Jan 27, 2018 5:32 pm, edited 1 time in total.
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- Posts: 428475
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bingham considering Bankruptcy
LockeLord+EdwardsWildman; Dickstein Shapiro are having issues as well.
Dickstein's office on 18th street in Washington is WAY MORE than they can afford.
When Edwards tried to buy my father's boutique they asked my dad to bill $900k and he'd keep $300k. My dad should keep all he bills, and these firms don't see it that way.
Also, when my dad was at an overseas conference... a Howrey partner interrupted the conversation my father was having a potential client. When the client asked how many office Howrey had, the Howrey partner replied condescendingly "I lost count".
My neighbor down the street was another arrogant partner at Howrey and he had to sell his home he lived in for over 15 years the year Howrey collapsed.
This biglaw arrogance comes with a price. that price is being kicked out before the end of your 4th year as an associate as well as the firm just collapsing because no one can treat a client nicely.
I got tons of these sorts of stories... My father's mentor was one of the founders of opening US patent law to the Japanese market.
Dickstein's office on 18th street in Washington is WAY MORE than they can afford.
When Edwards tried to buy my father's boutique they asked my dad to bill $900k and he'd keep $300k. My dad should keep all he bills, and these firms don't see it that way.
Also, when my dad was at an overseas conference... a Howrey partner interrupted the conversation my father was having a potential client. When the client asked how many office Howrey had, the Howrey partner replied condescendingly "I lost count".
My neighbor down the street was another arrogant partner at Howrey and he had to sell his home he lived in for over 15 years the year Howrey collapsed.
This biglaw arrogance comes with a price. that price is being kicked out before the end of your 4th year as an associate as well as the firm just collapsing because no one can treat a client nicely.
I got tons of these sorts of stories... My father's mentor was one of the founders of opening US patent law to the Japanese market.
- sinfiery
- Posts: 3310
- Joined: Thu Jul 14, 2011 2:55 am
Re: Bingham considering Bankruptcy
basic economics turns PPP historical highs into bankruptcyAnonymous User wrote:big-law firms are on the way out in the near future save for the top 4 or 5 big law firms
Source: Google Search, basic economics
solid
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- Posts: 1027
- Joined: Thu Jul 01, 2010 1:35 am
Re: Bingham considering Bankruptcy
The managing partner sounds like he is saying that to influence the vote. Those people typically don't say anything like the firm is in trouble.
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- Posts: 428475
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bingham considering Bankruptcy
There's no reason the firms should stay together, outside of their meager back office infrastructure. Its not like they have a cohesive & business generating culture, or real physical assets. They're all just a collection of rainmakers who string together the resources to make their books of business work. For much legal work, you can do that in a boutique setting.
Sure, the largest M&A and corporate defense work probably will necessarily go to the best few, but the rest of the work? Just a result of the old boys club.
Sure, the largest M&A and corporate defense work probably will necessarily go to the best few, but the rest of the work? Just a result of the old boys club.
- Pokemon
- Posts: 3528
- Joined: Thu Jan 12, 2012 11:58 pm
Re: Bingham considering Bankruptcy
Anonymous User wrote:big-law firms are on the way out in the near future save for the top 4 or 5 big law firms
Source: Google Search, basic economics
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- Posts: 207
- Joined: Sun Nov 17, 2013 3:03 pm
Re: Bingham considering Bankruptcy
http://www.americanlawyer.com/top-stori ... al-Mergers
Where is the thread with that guy who really wanted to go to Bingham and thought they might bulk up because of the merger?
Where is the thread with that guy who really wanted to go to Bingham and thought they might bulk up because of the merger?
- lacrossebrother
- Posts: 7150
- Joined: Wed Jul 30, 2014 11:15 pm
Re: Bingham considering Bankruptcy
Can I ask if there's any precedent of a successful reorganization of a law firm in the past? Do law firms really have issues with the typical causes of the need to reorganize like shitty employment contracts and leases? Did they get screwed on too big of a new computer order or something? It doesn't seem like the type of case that bankruptcy makes sense.
And as for chapter 7...wouldn't the associates be paid out first?
And as for chapter 7...wouldn't the associates be paid out first?
- lacrossebrother
- Posts: 7150
- Joined: Wed Jul 30, 2014 11:15 pm
Re: Bingham considering Bankruptcy
OK, I'll take "not declare bankruptcy" for $100JohannDeMann wrote:yeah ill go ahead and start taking any action if anyone wants
declare bk: -200 (you lay $2 to profit $1)
not declare bk: +160 (laying $1 yields $1.60 of profit)
I win upon merger, sale, or one year from today.
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- Posts: 73
- Joined: Tue Mar 15, 2011 11:22 am
Re: Bingham considering Bankruptcy
Are you seriously taking a vig on TLS?JohannDeMann wrote:yeah ill go ahead and start taking any action if anyone wants
declare bk: -200 (you lay $2 to profit $1)
not declare bk: +160 (laying $1 yields $1.60 of profit)
- lacrossebrother
- Posts: 7150
- Joined: Wed Jul 30, 2014 11:15 pm
Re: Bingham considering Bankruptcy
No one else is offering a linelameslice57 wrote:Are you seriously taking a vig on TLS?JohannDeMann wrote:yeah ill go ahead and start taking any action if anyone wants
declare bk: -200 (you lay $2 to profit $1)
not declare bk: +160 (laying $1 yields $1.60 of profit)
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