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http://www.abajournal.com/news/article/ ... remote_po/

Eye corumba!

I feel like once you've mentioned the remote possibility of bankruptcy you've moved the chances of bankruptcy to much higher than remote.

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)

Sounds like posturing to make sure the merger with MLB goes through.

In before the rampant speculation about the financial health of other firms

The general rule right now is firms are crushing. So I doubt the thread turns into that.

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

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.

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.

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

basic economics turns PPP historical highs into bankruptcy

solid

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.

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.

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

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?

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?

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)

OK, I'll take "not declare bankruptcy" for $100
I win upon merger, sale, or one year from today.

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)

Are you seriously taking a vig on TLS?

lameslice57 wrote:

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)

Are you seriously taking a vig on TLS?

No one else is offering a line