Tuesday, August 26, 2003

7:55:55 PM    comment []

UNCONFIRMED GOSSIP REGARDING LAYOFFS OF 20-40 MID-LEVEL AND SENIOR ASSOCIATES AT HAYNES & BOONE: Word on the street is that Haynes and Boone is going to fire 20-40 mid-level and senior-level associates firm wide. In fact, such lay-offs could come as early as September 12, 2003. As a matter of fact, one of the main items to be discussed at the partner's retreat in San Antonio on September 5th-6th is a reduction in the number of associates. Apparently the Board of Directors has asked Section Heads and Practice Group Leaders to offer up associates to be sacrificed. In addition, at least 3 members of the Board of Directors (R.W., T.C., and A.N.) are working behind the scenes to eliminate jobs. It appears that most 1st, 2nd, and 3rd year associate jobs are safe for now as Hayboo wants to spin the lay-offs as performance based rather than a true RIF. I guess the old Hayboo motto that was told to numerous recruits by partners that one good thing about Hayboo was that they stuck together in the hard times and did not lay-off people during the down times is no longer true. I know that some partners and maybe some over zealous associates are going to quickly respond to this posting, denying its truthfulness; however, I will not respond to defend this post as I know this information to be true as it came from a very reliable source within Haynes and Boone. The lay-offs will speak for themselves. 7:45:42 PM    comment []

7:30:20 PM    comment []

HOLLAND & KNIGHT HAS BIG PLANS FOR SEATTLE: Holland & Knight plans exponential expansion Law firm plans Puget Sound area growth mainly through mergers and acquisitions Eric Engleman Staff Writer Holland & Knight LLP is planning an ambitious expansion of its Seattle office, saying it wants to grow from 17 to 150 lawyers over the next 30 months. The expansion would make it the fourth-largest law firm in the city.  "My plans are to significantly grow this office," said managing partner Howell Melton Jr., who visited Seattle last week on a swing through Holland & Knight's Western offices. The Florida-based law firm is seeking to build its presence in the West and expand its group practices in technology law, admiralty, maritime and aircraft law, and Indian tribal law, he said. The firm aims to have a minimum of 75 lawyers on board in Seattle by January 2005 and double that number, or 150, by January 2006, Melton said. Holland & Knight plans to achieve this primarily by hiring lawyers away from other firms and acquiring smaller firms in the Seattle area, he said. If Holland & Knight achieves its growth targets, it would become the fourth-largest law firm in terms of number of lawyers in Seattle behind Perkins Coie LLP, Preston Gates & Ellis LLP and Davis Wright Tremaine LLP, according to industry data compiled in Puget Sound Business Journal's 2003 Book of Lists. "That is an aggressive expansion strategy," said Carl Peters, a Seattle-based legal consultant who has worked with Holland & Knight in the past. "If it happens, they would be a major competitor in this market." Holland & Knight describes itself as one of the world's largest law firms, with more than 1,200 lawyers. However, its profitability ranks toward the bottom of American Lawyer magazine's list of top 100 law firms. The magazine ranks it 92nd in revenue per lawyer at $445,000 and 93rd in profits per partner at $435,000. The firm ranks 95th in equity and nonequity compensation for all partners, according to the list. One of Holland & Knight's senior partners is moving to Seattle to oversee the expansion and has already flown by helicopter over the city, scouting new office locations, Melton said. The firm currently occupies one floor of the 520 Pike Tower downtown. Holland & Knight is developing a national "footprint" with certain specialties, Melton said. The firm is developing technology law in its offices in Boston, Northern Virginia, Florida and San Francisco, and would like to add Seattle to the mix, he said. The firm has already waded into the Seattle market, acquiring Weiss Jensen Ellis & Howard, a 22-lawyer firm with offices in Portland and Seattle, in October 2001, as well as Seattle-based Van Valkenberg Furber Law Group PLLC and its five lawyers last June. "This market fits in well with what we do in other markets," Melton said, noting he expects recent organizational changes will make it easier to attract lawyers to the firm. Holland & Knight now gives group practice leaders more autonomy and control over hiring and firing within their divisions, as well as more responsibility for profit margins. That autonomy, combined with Holland & Knight's national platform and resources, have become a key recruitment tool as the firm seeks to build its staff in Seattle. However, Melton acknowledged the firm won't be able to achieve rapid growth simply by "cherry-picking" groups of lawyers from other firms. It will have to acquire entire firms with large numbers of lawyers. "The quantum leap comes with a firm that is headquartered here or is headquartered somewhere else but has a significant presence here," he said. Melton said he had spoken with at least one senior partner at a rival law firm, but would not name the firm or any others Holland & Knight may be eyeing. Officials at Perkins Coie, Preston Gates & Ellis, and Davis Wright Tremaine all declined to comment. Reach Eric Engleman at 206-447-8505 ext. 117 or eengleman@bizjournals.com. 7:25:13 PM    comment []

CHECK THIS OUT: MIT OPEN SOURCE CLASSES, ONLINE DEGREE PROGRAM: http://ocw.mit.edu/index.html 3:58:28 AM    comment []