The number of DC partners sending their rejection letters to Winston is growing tremendously.
The more time passes, the worse it becomes for Howrey's former and currently dwindling roster of current partners and the less Winston will have to show for this mess. I think Winston is also suffering serious damage to its reputation for being rejected by so many high profile attorneys. Could a law firm merger-slash-raid go any more poorly than this?
Here's a compilation of the latest news, as provided by a fabulous post at Sharktank legal and commenters on this message board. Take it for what it is: unconfirmed news. Thanks to the commenters, and please keep the information coming.
1. A growing number of significant antitrust partners in DC are rejecting Winston. As mentioned earlier, superstar Roxann Henry defected to Dewey. It now appears that many others will be following her lead, namely superstar Marc Schildkraut, Jackie Grise who works very closely with Roxann Henry, M.J. Moltenbray who was former head of DOJ's antitrust division, and Mark Schechter.
2. But probably the biggest crack in DC antitrust is Sean Boland and his group, who might be headed to Baker Botts. I am absolutely shocked by this development, and I think it is the most suggestive that something had gone seriously awry with the Winston negotiations. Boland was the lead negotiator.
3. DC IP partners are rejecting Winston as well. Matt Wolf, Ed Han, and two associates are headed to Arnold & Porter.
4. Even MORE DC defectors with Bob Abrams and unnamed others headed to Baker Hostetler or Crowell & Moring.
5. Yet EVEN MORE DC defectors, with John Nields, Jason Raofield, and Andrew Lazerow headed to Covington.
6. California has been a total mystery. A few commenters in the California offices have mentioned that the press is providing them with their only information.
7. Which leaves us with Howrey's Houston office, which has suffered no significant departures since the IP departures that plagued it in the mid-2000s. Is this all that is left for Winston in this whole fiasco? And what has kept them together? Is Winston cutting them a sweeter deal (according to Sharktank, a two-year guarantee of some amount)? But if they were being cut a sweeter deal, that suggests that they have more business and would therefore have bettter options than Winston.
Please provide any news, thoughts, commentary, etc. in the comments below.
From an outsider's perspective, it appears that Winston took a gamble and lost. They thought their hand was much stronger than it was. They overplayed their hand by assuming that the job market was so bad, most partners would come crawling to them out of desperation. Apparently the job market wasn't so bad after all.
ReplyDeleteThat was a fairly revealing article at sharktank. Is Winston & Strawn affiliated with the Aryan Brotherhood by any chance?
ReplyDeleteIt could just be that Winston's real target was the Houston office.
ReplyDelete6:39 - HAHAHAHAHAHAHAHAHAHAHAHA
ReplyDeletethat was a creepy article. i feel bad about law and america right now.
ReplyDeleteAll of the above-projected "defections" are larger in scope; you will start to see chunks of the firm splintering off this week.
ReplyDeleteWinston's management has officially outbid Howrey's in arrogance and stupidity -- no mean feat. The cowards responsible for this debacle should be ashamed, but they probably aren't.
8:33 - 6:39 here. You should get some help.
ReplyDeleteWho are the associates leaving with Han and Wolfe?
ReplyDelete4:07 is correct, these groups will get bigger.
ReplyDeleteThe shark tank legal story was incorrect in several respects.
11:52, why don't you share?
ReplyDeleteI can't tell you any more - I'm being watched by the Winston Gestapo. I'm scared. This will be my last communication to you. If the dog barks before the rooster swims you will know what happened. The cause of mankind is now in your hands - the resistance is counting on you; the power of love is the only force capable of defeating the Winston; shield the candle from their evil Chicago winds and cherish its light. I must go - the bedbugs are coming...
ReplyDeleteNooooo...! Run! Run to the shore... a boat will be waiting to take you to a secret beach on the Michigan side. There you will find a change of clothes, a new identity packet, and a plane ticket to me. I will be waiting for you... now, Run!
ReplyDeleteI'm coming... Aaagh...! They barricaded my door! I'm locked in my office! what am I going to do?! I'm in a bedbug death chamber! All is lost!
ReplyDeleteGet up on your desk and push out a ceiling panel - climb up and crawl towards the elevator shaft as quietly as possible! Keep your hands and knees on the panel frames so you don't fall through - hurry!
ReplyDeleteI'm trying - I can't reach...! The bedbugs are coming under the door!
ReplyDeleteTune in next week for the next installment of: "Escape From Winston!"
Will our beautiful heroine escape from the evil clutches of the wicked Winstalinists? Will she manage to avoid the roving bands of Strawntroopers? How long can she continue to hide her ever-multiplying bedbug bites?!
ReplyDeleteTurns out, Fiona Philip has gone to Sidley as counsel, not partner. No book?
ReplyDeleteNext time, on "Escape From Winston!" tune in when Lucy says:
ReplyDelete"Oh no.. the nest!!! They're everywhere! Aaaugh....!!!"
@5:30: Rumor has it that many large, well-respected firms in DC have stated policies in the p'ship agreement that require younger lateral partners to spend one year as Counsel, with the chance to achieve full partner status after a year or two. It seems Sidley is such a firm; Covington would be another example. Partners leaving Howrey - and rejecting Winston's offers - to join other DC firms as Counsel perhaps shows that Winston really did underestimate the market with its low-ball offers to certain partners.
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ReplyDeleteDo you sometimes feel as though your life as a corporate attorney is completely pointless and hollow? If so, try new Deludizine Gel-Caps™ They're guaranteed to restore your blind faith in convention and toil! Don't let another day go by questioning whether perhaps you are a waste of humanity - try Deludizine Gel-Caps™ and Restore the Illusion™
Sharktank Legal is down. Coincidence?
ReplyDeleteUh oh... did Winstonazi Strawntroopers hit Sharktank? Are there any casualty reports yet? We knew sooner or later this would happen, but the resistance must continue. Sharktank would have wanted us to persevere, seeking the truth, no matter how foul and despicable it may prove to be. People out there are relying on us; they need you to keep hope alive; to defend those who cannot defend themselves; and to speak out against the menace on behalf of those in society who have no voice, possibly due to a sore throat for example.
ReplyDeleteSharktank is back online! Well fought! The evil Winstonazis have been taught a lesson, but do not think they will let this go at that. As we speak they are certainly marshaling Strawntroopers and planning their next brutal blitzbug against the twin towers of Honesty and Love. The Winstonazis would like to rename the towers "Dishonesty" and "Indifference" as symbols of their intent to take over the world and rule it according to these two Winstonazi guiding principles. Our comrade, Sharktank, has been an invaluable member of the resistance against the Winstonazis and we celebrate Sharktank's survival of the Strawntrooper blitzbug.
ReplyDeleteWhen does the next episode of "Escape From Winston!" come out? Is Lucy the heroine? Who is it she is going to try to meet up with if she can escape from the building? Is the building 35 West Wacker?
ReplyDeleteHere's a radical idea: the partners should show as much willingness to talk to the staff as they do to Legal Times and tell them what the 'll is going on. Obviously the promise that staff is going to have a place at the "new firm" has been null and void for weeks, if it wasn't an out and out lie at the time.
ReplyDeleteThere has been a lot of praise for the staff by management, but no trust.
No one will ever see this, but March 5, 2011 6:39 pm called it: "It could just be that Winston's real target was the Houston office."
ReplyDeleteBig tip of the hat to you ma'am/sir.