Firm Information - Mid-Atlantic - Page 6

Alex_de_Large · 10-08-2003, 08:20 PM

Quote:

Originally posted by Ex_post_Festo Not to mention that I think going $100k in debt is a bad way to respond to a down economy...

Damn straight. It is so easy to fill out the little applications: it's not so easy when writing the check for the $800 monthly payments!

sebastian_dangerfield · 10-09-2003, 10:48 AM

Quote:

Originally posted by Alex_de_Large
the Biz Journal (subscription required) reports that applications to Philadelphia-area law schools has remained high. No doubt this is a reaction to the abismal job market. For the sake of those in school (as well as everyone else, really)I hope it improves soon.

Here is wisdom you can take to the bank and cash... PHILLY'S ECONOMY IS NEVER COMING BACK. IF YOU INTEND TO WORK HERE AND DON'T HAVE A HUGE BOOK OF BUSINESS, YOU'D BETTER LIKE PLAINTIFF'S WORK, BECAUSE THAT IS THE ONLY REASONABLE LEGAL JOB (Note: Reasonable jobs exclude being a slave at Morgan/Dechert) WHICH WILL PAY YOU OVER $150K AS A YOUNG LAWYER IN THIS TOWN.

Don't believe me? Fine. Go get yer fucking degree from Villanova, assjack. See how much you'll make in 8 years.

And if certain firms in town collapse in the next two years, which is looking more and more probable every day, Philly will be the worst associates' market in the country.

Pennsylvania is dead and I would not hire a young lawyer coming to work in Philly because anyone who does his due diligence should recognize THIS TOWN IS A FUCKING CORPSE.

S(I'd wager my family on the veracity of the above comments)D

baltassoc · 10-09-2003, 11:53 AM

A faithful reader reports that Schnader Harrison is definately imploding. Em asserts that while this has been reported here before as rumor, it's really happening. So it's still rumor, but an annonymous source is telling you that it's a really real rumor.

I trust the source. If em says it's true, I'd bet on it. It's about to be a bad time to be looking to lateral in Philly.

sebastian_dangerfield · 10-09-2003, 03:59 PM

Quote:

Originally posted by learnedmano
"Skeleton crew"? Having just seen "Pirates of the Caribbean," that image conjures up a pretty amusing picture. My reaction was the same as yours -- who knew they were in SF? Schnader's office here in the 'Burgh seems to be holding up fairly well -- a few departures, but also a few recent arrivals -- but in light of the problems elsewhere, I keep wondering when Schnader is going to join some of other recently departed firms in the Great BigLaw Beyond (although once SF is closed, it'll be down to five East Coast offices -- four, really, if you count Cherry Hill as pasrt of the Philly office -- and maybe that'll be focused enough to let the firm recover).

P.S. What's the deal with the Philly firms going with one name? "Dechert", "Schnader" -- soon it'll be "Morgan," "Drinker", "Duane" (OK, that makes the firm sound like your cousin from West Virginia, so maybe not), etc. Once that happens, I predict that Dechert will jump ahead of the pack once again by changing its name to "D" -- or maybe an unpronounceable glyph.

1. As to the name game, firms are like 14 year old girls. "Mary got a clit ring, Mom! I HAVE to have one." If Dechert decided to sacrifice one secretary a week to Zeus on a conference room table, a whole slew of lemmings all over town would do the same. Insecure males with small dicks and egos run amuck, trying to prove who has the biggest share of a dwindling market in a city with an economy that's been dead since before Reagan. Watching these helplessly fucked people jockey around each other is like watching the Larry Holmes v. Butterbean fight. Its as ugly and embarrassing as it is pointless and you just wish someone would stop it, but you can't help looking. Its addictive...

Alex_de_Large · 10-14-2003, 12:08 PM

A new article (subscription required) in today's Legal discusses the results of recent mid-level surveys. Apparently associates at Reed Smith are REALLy unhappy... Buchannan Ingersoll associates, on the other hand, seem to be very satisfied.

baltassoc · 10-14-2003, 12:55 PM

Quote:

Originally posted by Alex_de_Large
A new article (subscription required) in today's Legal discusses the results of recent mid-level surveys. Apparently associates at Reed Smith are REALLy unhappy... Buchannan Ingersoll associates, on the other hand, seem to be very satisfied.

Interesting. Veeeeeery interesting.
The BI thin surprises me because of the rumors flying around here. The Reed Smith part doesn't. At all. Man I hate that firm.

leagleaze · 10-15-2003, 01:07 AM

Didn't Reed have practically its entire estate group up and leave a while back?

learnedmano · 10-15-2003, 10:03 AM

True. All (or almost all) of Reed Smith's Pittsburgh E & T lawyers decamped to start their own firm about a year ago (I think they may have one or two guys left). If there's a connection between that and the associate dissatisfaction, it's probably that Reed Smith has been desperately trying to increase its profit per partner (after years of lagging profits), and that's likely why the estates guys decided to leave (before being pushed, since E & T is not usually a big profit center), and also why the junior associates are unhappy (layoffs and reduced hiring leads to thin staffing and long hours; fewer partners being made, and existing partners being de-equitized, means there's no brass ring to keep you going during those long hours; etc.)

baltassoc · 10-27-2003, 10:33 AM

Wave of the future or unspeakable evil: you decide.

Countrywide prepaid legal services article

Okay, so how much of a threat is a company with less than a $million in revenue, really?

Alex_de_Large · 11-05-2003, 12:38 PM

By all accounts, yesterday's election in Philadelphia was full of intimidation, voting impropriety and violence. No, there's nothing wrong with the system in this city...

11-06-2003, 12:06 PM

Quote:

Originally posted by Alex_de_Large
By all accounts, yesterday's election in Philadelphia was full of intimidation, voting impropriety and violence. No, there's nothing wrong with the system in this city...

In other words, the Democrats won. I understand the graveyard vote broke sharply Democratic again this year...

baltassoc · 11-10-2003, 07:25 PM

I don't know whether to post this here or on the sports thread, but whatever:

Big East legal fees add up for Pitt, others: First four months total about $2.1 million
http://www.bizjournals.com/ct/c/623917
(free registration may be required)

Alex_de_Large · 11-13-2003, 10:36 AM

Any more news on this place? My sources have dried up and I haven't heard anything new...

AdL

baltassoc · 11-24-2003, 12:13 PM

Reed Smith is bumping Pittsburgh starting salaries to $110,000.

http://www.bizjournals.com/industrie...8.html?f=et153

(free registration may be required)

baltassoc · 11-24-2003, 12:14 PM

Quote:

Originally posted by Alex_de_Large
Any more news on this place? My sources have dried up and I haven't heard anything new...

AdL

In an interesting move, Schnader DC is apparently moving to new digs.

http://www.bizjournals.com/industrie...2.html?f=et153

(free reg may be required)