Monday, February 28, 2011

The Howrey Name = $20 MILLION?!?!

The Recorder's blog recently ran a bit about Howrey's internal voting on the "merger" and what bits and pieces are likely to go to Winston.  Supposedly, the Winston partners voted on the merger over the weekend.  Maybe.

What I find SHOCKING is that an anonymous former Howrey lawyer believes that the Howrey name and its associated goodwill are worth $20 MILLION dollars.  Goodwill?  Really?

You know, it's been a long time since clients simply hired firms to handle their problems.  Clients hire individual attorneys to hire their problems and follow those same attorneys when they move to another firm.  I don't think too many clients are "firm loyal" these days.

The post also mentions that Ruyak is trying to peddle CapAnalysis for $6M.

10 comments:

  1. This picture is almost as interesting as the one WaPo ran Sunday, which Howrey Doody ought to post here. I am sure there will be many explanations about what it means.

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  2. Your wish is my command. I added that picture to the post about the WaPo story.

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  3. Partner Meeting: 1 p.m. EST.

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  4. Not all the antitrust partners in DC are going to Winston. At least one senior partner of high reputation is going elsewhere, Dewey it is rumored. The London antitrust partners are not going either. Any chance Winston will back out and just pick off a handful of people but take no space or liabilities?

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  5. Someone seriously thinks the Howrey name is worth $20 million? Has Charlie Sheen been put in charge of the firm?

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  6. A law firm name is only worth the value of the people who are behind the name, and Howrey has lost a lot of its A-List talent over the last couple of years. If anything, the value of the Howrey name has been dragged through the mud during this excruciating cycle of defections.

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  7. "Partner Meeting: 1 p.m. EST."

    I can't believe no one's live-tweeting that sucker.

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  8. Lying through our teethFebruary 28, 2011 at 3:34 PM

    yeah.. well no one mentioned in that "Partner Meeting" that when they got back to their desks there would be an email waiting that informed them they would only be receiving half their paycheck. MWHAHAHAHA ... laughs Ruyak. MWHAHAHHA.. "how I love to screw people over" ... Yeah. 1/2 a paycheck. The "other half will be paid on the 15th" by Winston Strawn or Howrey, depending on how things play out.

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  9. CapAnalysis for 6M? You gotta be kidding. Howrey should pay money for someone to take over CapAnalysis.

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  10. $20 million for the Howrey name?

    In an article on Law360, some people opine that the name now has negative value.

    Howrey Name Could Tarnish Winston & Strawn: Experts.

    "'Nobody wants to associate themselves with a brand that is perceived as not being a strong and attractive brand,' said Jack Zaremski, founder and president of Hanover Legal Personnel Services Inc. 'It's not just a matter of declining profits and revenue ... Howrey is being perceived as being on its way out.'"

    http://www.law360.com/topnews/articles/228496/howrey-name-could-tarnish-winston-strawn-experts

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