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Texas boutiques join rush to raise associate salaries

Reid Collins is raising comp, too
Big Law promising bigger paychecks in hot market for junior talent
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(Reuters) - The race to raise associate salaries has hit Texas, giving lawyers at some Lone Star boutiques an even bigger pay boost than their counterparts at elite New York firms.
Houston-based Susman Godfrey confirmed Wednesday that it s upping salaries for its current first-year associates from $195,000 to $210,000. For the class of 2013, salaries will grow by $25,000 to $370,000. Overall, associate salaries at the litigation boutique will be $5,000 higher than those at firms that have matched a scale New York law firm Davis, Polk & Wardwell set earlier this month. ....

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Hertz's Chapter 11 restructuring plan has been confirmed by a bankruptcy court, paving the way for a $1 billion shareholder payout

The car rental giant said on Thursday its restructuring plan has been confirmed by a bankruptcy court and it is on target to exit Chapter 11 on June 30. ....

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A Closer Look At The 2021 Am Law 200 Rankings

May 25, 2021 at 12:08 PM
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(image via Getty Images)
Ed. note: A version of this column originally appeared on Original Jurisdiction, the latest Substack publication from David Lat. You can learn more about Original Jurisdiction on its About page, and you can subscribe through this signup page.
By now we all know the story of how the Am Law 100 fared in 2020. Contrary to what many of us predicted, the Am Law 100, the nation’s 100 largest law firms by revenue, hit new highs in terms of gross revenue, revenue per lawyer, and profits per equity partner. For Biglaw, last year was a very, very good year. ....

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Kasowitz raises $6.5 million in its first big capital call in decades

The law firm of Marc Kasowitz, a longtime lawyer for Donald Trump, has been shrinking for years.
The firm raised $6.5 million from partners last month in a rare capital call, even as it doles out generous bonuses to some associates.
Kasowitz said the firm is in good shape and said the fundraise was prudent.
A law firm known for representing Donald Trump that has been shrinking in recent years started the year off by making partners pony up a collective $6.5 million, a rare event for the firm.
Kasowitz Benson Torres, led by Marc Kasowitz, had a capital call for the first time in decades last month. Kasowitz told Insider the amount raised was $6.5 million. In 2019, the total pay for the firm s 85 partners was about $95 million, according to the American Lawyer. ....

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Judicial Notice: February 6, 2021

March 8, 2021 at 3:17 PM
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A courtroom in the Pioneer Courthouse in Portland, Oregon (photo by David Lat).
Ed. note: This column originally appeared on Original Jurisdiction, the new Substack publication from David Lat. Judicial Notice is a weekly review of notable legal news that appears each Saturday. You can register to receive Judicial Notice and other updates from Original Jurisdiction through this signup page.
As Original Jurisdiction hits the two-month mark, I’m happy to report that I’m just a few readers shy of 2,000 subscribers. Thanks to all of you for subscribing and helping to spread the word.
Now, on to the news. ....

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