Filter This View

  • September 3, 2008 |

    Everyone's favourite target

    When it costs almost $100 (£55) to fill the gas tank of the average American's SUV, something's got to change. Conscientious consumers are downsizing their cars to improve gas mileage and conserve energy. But some lawmakers are advocating a more American way: sue the oil producers.In May, the House of Representatives passed a Bill that would amend federal law to allow the US Government to sue the Organisation of the Petroleum-Exporting Countries, or OPEC, for price-fixing. President Bush has vowed to veto the Bill, known as NOPEC, if it passes the Senate.

    1 minute read

  • September 3, 2008 |

    The single solution

    On a crisp sunny day in late March, fee earners from 39 law firms gathered at the corporate headquarters of pharmaceuticals giant Pfizer, a nondescript office building a couple of blocks east of Grand Central Station in New York. The collective mood was cheerful. After all, each of the firms still had a piece of Pfizer's US litigation work. Two years earlier, the company had dumped 80% of its hundreds of outside counsel in a convergence project called P3 - the Pfizer Partnering Programme. Now, representatives from the survivors had been convened to receive an update.There was nothing surprising in what the first speaker, Sandra Phillips, head of the company's product litigation group, had to say. But the second speaker had some unexpected news to deliver. Margaret Madden (pictured right), head of Pfizer's employment law group, explained how her staff had slashed its roster of 50 outside law firms in the first phase of P3 to 10. A quick look around the room, however, revealed that just one of those employment firms was present. What happened to the other nine?

    1 minute read

  • August 8, 2008 |

    Links tops Euro equity capital markets rankings

    Linklaters has retained the top spot in the European equity capital markets deal rankings, with the firm advising on double the amount of deals as its competitors. New research by Thomson Reuters shows the magic circle giant advised on 20 equity capital market deals totalling $14.6bn (£7.2bn) during the first half of 2008, keeping it above Freshfields Bruckhaus Deringer, which advised on 11 deals worth $29.8bn (£15.3bn).

    1 minute read

  • August 6, 2008 | International Edition

    Commentary: Cadwalader's tough guy image to face a punishing test

    Cadwalader Wickersham & Taft does not have a reputation for being the cuddliest law firm in the world but, even by its standards, last week's announcement that it is to lay off 96 fee earners was uncompromising stuff. Combined with the 35 job losses announced in January, Cadwalader predicts it will have 580 lawyers in September 2008 compared with around 720 at the end of 2007 - a drop of almost 20%. The only obvious recent precedent for such drastic action at a major law firm is the series of savage cuts that were seen at some of California's tech-focused firms, which had ridden the dotcom wave only to suffer badly during the slump of 2002 and 2003.

    1 minute read

  • August 6, 2008 |

    Commentary: Cadwalader's tough guy image to face a punishing test

    Cadwalader Wickersham & Taft does not have a reputation for being the cuddliest law firm in the world but, even by its standards, last week's announcement that it is to lay off 96 fee earners was uncompromising stuff. Combined with the 35 job losses announced in January, Cadwalader predicts it will have 580 lawyers in September 2008 compared with around 720 at the end of 2007 - a drop of almost 20%. The only obvious recent precedent for such drastic action at a major law firm is the series of savage cuts that were seen at some of California's tech-focused firms, which had ridden the dotcom wave only to suffer badly during the slump of 2002 and 2003.

    1 minute read

  • July 30, 2008 |

    Sidley Austin recruits UK hedge funds counsel

    Sidley Austin has hired Barry Breen as a counsel for its London investment funds, advisers and derivatives practice. Breen's practice will focus on hedge funds. Breen has joined from US law firm Tannenbaum Helpern Syracuse & Hirschtritt.

    1 minute read

  • July 23, 2008 |

    GlaxoSmithKline signs up Sidley partner as new GC

    Pharmaceutical giant GlaxoSmithKline (GSK) has completed its hunt for a new general counsel with Sidley Austin life science partner Daniel Troy set to take the role. Troy, who will also take up the position of senior vice president, is set to join the company on 2 September.

    1 minute read

  • July 23, 2008 |

    ...Legal Week Lunchbox: 23/07/08...

    The five most popular articles on legalweek.com today; plus the pick of the day's posts

    1 minute read

  • July 10, 2008 |

    Magic circle trio break into profits top 10 as City firms move up Global 100

    Profits per equity partner (PEP) at top US law firms still narrowly exceed key UK rivals - despite the significant increases the magic circle have achieved in turnover and profitability in recent years. Figures compiled by Legal Week and The American Lawyer show that just three UK firms make it into the global top 10 by PEP - Slaughter and May, Linklaters and Freshfields Bruckhaus Deringer. In contrast, seven US firms make the grade - headed by elite firm Wachtell Lipton Rosen & Katz.

    1 minute read

  • July 10, 2008 | International Edition

    Magic circle trio break into profits top 10 as City firms move up Global 100

    Profits per equity partner (PEP) at top US law firms still narrowly exceed key UK rivals - despite the significant increases the magic circle have achieved in turnover and profitability in recent years. Figures compiled by Legal Week and The American Lawyer show that just three UK firms make it into the global top 10 by PEP - Slaughter and May, Linklaters and Freshfields Bruckhaus Deringer. In contrast, seven US firms make the grade - headed by elite firm Wachtell Lipton Rosen & Katz.

    1 minute read