Posts on ‘January 20th, 2009’

Neal, Gerber & Eisenberg, a 200-lawyer Chicago firm, has cut a handful of attorneys after annual performance reviews that have taken on a harder edge amid the economic downturn. Managing partner Jerry Biederman said the cuts weren’t that different from those made in past years, though evaluations are naturally tougher in a downturn when work is scarce. Biederman left open the possibility of additional cost reductions if the economy continues to sour and negatively affect law firm work.

Money market fund Reserve Management has accused Dechert and K&L Gates of failing to advise it four years ago that two members of its board weren’t independent, opening the fund up to scrutiny from the Securities and Exchange Commission. Reserve says it spent $4 million in professional and other fees trying to avoid an SEC action over having an improperly composed board. Such an action could have cost Reserve “hundreds of millions of dollars” in disgorged profits and fines, the complaint says.

Post-holiday layoffs seem to be continuing as Philadelphia-area firms make staff and associate cuts. On the heels of Ballard Spahr’s reductions in support staff, Blank Rome has confirmed it has laid off 20 associates and 40 staff members. In a statement, Blank Rome said the cuts were needed to adjust the 500-lawyer firm’s attorney and staff headcounts to bring them in line with clients’ current and projected needs.

Attorney Elena Park says the outdated immigration system causing business and individuals undue financial, legal and emotional hardship needs repair. Employers are competing furiously to sponsor foreign specialized workers for the few temporary visas allotted each year. Many companies are unable to employ foreign workers for years. But, it looks as though the new president is up to the challenge, says Park, who examines possible upcoming changes and offers tips for what companies can do in preparation.

When a mail server is down, “you don’t know what you’ve got till it’s gone.” And when you are at that point, you obviously need that message. With that in mind, Legal Technology editor Sean Doherty reviews a high availability solution for Microsoft Exchange from Teneros.

David E. Danovitch of Gersten Savage says he and other small firm attorneys who seem to be sailing through the worst economic crisis in decades would be “foolish not to ask” the question: “Why is my practice growing while everything around me implodes?” One reason is that they can offer more bang for a client’s buck. Havona Madama says her three-lawyer boutique intends to “basically go out and poach the smaller clients from the bigger firms and remind them that they can save a lot of money.”

Dozens of New York lawyers have reached into their pockets to help
Barack Obama defray the cost of an inauguration that many think will be,
in the words of one, “for the ages.” Another lawyer said it was
“important to be a part of an unbelievable first in American history.”
Altogether, Obama’s inaugural committee has collected about $42.1
million from private donors, according to a committee spokesman and a
compilation prepared by the group Public Citizen.

Statements before Congress aren’t always the best signal of what a Cabinet official will do in office. Yet, at Eric Holder Jr.’s confirmation hearings, while he broke with the Bush administration on issues related to the treatment of terrorism suspects, the AG nominee embraced many of the national security tools of the last eight years, including the Patriot Act, revisions to the Foreign Intelligence Surveillance Act and DOJ guidelines that enhance FBI powers to open criminal and national security investigations.