Results tagged “lawyers”

The NY Times article about Skadden Arps' program allowing associates to take a year off—no strings attached (just a suggestion to do good works, but no requirement) and their jobs in tact when they get back— is attracting envy from others (perhaps those who didn't put in the hours to become an associate, whose base pay is closer to $240,000, at the competitive law firm). Skadden's strategy is to save money in these tough times—here's the memo outlining the "Sidebar" program—and Above the Law gives an assessment: "In a normal economy, mid-level and senior associates who aren't likely to make partner would be leaving the firm for less intense pastures. But because of the market meltdown, those people have been desperately trying to hang onto their jobs... Instead of forced attrition, Skadden's program starts to look like a mercy killing. Skadden is giving people who want to get out an opportunity to leave in spite of the terrible economy."

After spending thousands of dollars in legal fees trying to stop the NYPD from videotaping political demonstrations, the NYCLU was surprised and angered to learn recently that the police department had already changed its videotaping practices back in April 2007 without telling them. The Times reports that had lawyers known this, they would have dropped the lawsuit, because the NYCLU is okay with the more restrictive rules, which allow videotaping only where there is illegal activity or for crowd control. Now they're demanding that the city reimburse them for legal fees, and also give them a heads up when they make policy changes. The NYPD insists that they notified both the court and the NYCLU, but one of the lawyers tells the Times, "It reminds me of that cartoon where somebody is running at a wall over and over, and suddenly the door opens, and you realize nobody told you there was a door there."

lawyers? According to law professor Lynn LoPucki who spoke to the Daily News about corporate bankruptcies, "The lawyers and all the other professionals who work on the case get paid first. The system deliberately makes the old creditors wait - sometimes for two or three years - while payday for the new creditors comes once a month." So while the now-bankrupt Lehman Brothers is selling off assets like their corporate jet for almost $25 million, LoPucki tells the News that legal and professional fees may be as high as $1.4 billion, "with Weil Gotshal & Manges, lawyers for the debtor, snaring about $209 million, and Milbank, Tweed, Hadley & McCloy, counsel to the creditors, getting some $58 million." Lawyers, FTW?

Property owners are not holding their breath for a citywide ban on domestic smoking, like the ones barring lighting up in bars or restaurants, but non-smoking is increasingly becoming a requirement for renters in New York City.