Law Firm News

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Law Firm News

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Adams & Reese LLP

International Paper Honors Adams and Reese LLP with “Lighthouse Award” for Diversity Efforts: Law Firm Selected for Its Efforts in Fostering Diversity in the Legal Profession
Adams and Reese LLP has been honored by International Paper Company’s Legal Department as recipient of its annual “Lighthouse Award.” The law firm was selected for its efforts in fostering diversity within the legal profession. The Lighthouse Award was presented to Adams and Reese at International Paper’s Legal Department Conference in Orlando, Florida on November 9, 2006.

International Paper has signed “A Call to Action: Diversity in the Legal Profession.” As one of the original signatories, International Paper’s Senior Vice President, General Counsel and Corporate Secretary, Maura A. Smith, has affirmed the Legal Department’s commitment to fostering diversity in the legal profession and to taking action to ensure that law firms, such as Adams and Reese, increase the number of women and minority attorneys hired, retained and promoted to the partnership ranks. Ms. Smith commented, in presenting the award to Ms. Jackie Rozier, a partner at Adams and Reese, “Adams and Reese deserves this recognition, based on the firm’s outstanding service to International Paper, helping us sell more than five million acres of land, for demonstrating its ongoing commitment to assigning women and minorities to International Paper matters, and for their innovative approaches to fostering diversity in the legal profession.”

Adams and Reese Managing Partner, Charles P. Adams, Jr., adds, “We are extremely proud of the diversity efforts of our firm and particularly of International Paper’s recognition of our efforts. We believe that diversity in our workforce enhances our ability to deliver services to our clients and enriches the lives of both our employees and the communities in which we work and live. We have a definite plan in place regarding our minority and women initiatives and our commitment is a top priority, however we carry no pretense that we have achieved everything that needs to be accomplished.”

Adams continued, “We are proud of our International Paper relationship attorney, partner Jackie Walters Rozier, her talent, dedication, and success.”

The firm’s recognition by International Paper is particularly timely due to the fact that the firm’s Diversity Committee launched its continuing internal “Diversity Awareness Campaign” this July.

Adams added, “Our internal diversity communications plan has proven to be a significant tool to disseminate valuable information, and to highlight the remarkable successes of members of our firm. It has been helpful in bringing our initiatives to the forefront.”

In September, Adams and Reese received two first place marketing awards at the Legal Marketing Conference held in Savannah, GA, including a first place SELMA award in the Firm Promotional Item Category for the Adams and Reese Diversity Awareness Campaign.

11-20-2006

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Womble Carlyle Sandridge & Rice, PLLC

Carmen Canales Hired as Chief Talent Officer for Womble Carlyle
Womble Carlyle Sandridge & Rice, PLLC today announced the addition of Carmen Canales to the firm's management team. Canales will serve as Womble Carlyle's Chief Talent Officer, a new position for the firm. In that role, she will have ultimate responsibility for the firm's departments of Human Resources, Professional Development, Recruiting, and Diversity and Workplace Initiatives. She will work in Womble Carlyle's Winston-Salem office.

Canales has an extensive background in human resources and employee relations. She will help Womble Carlyle win the "war for talent" by providing strategic advice to the firm’s leadership on the development of personnel and hiring policies that will bring in and retain the most talented attorneys and staff. Canales will also work with firm management to ensure that the recruiting, retention, diversity, professional development, benefits and staff administration policies and programs are integrated and aligned to support the firm's strategic agenda.

"Womble Carlyle is committed to blending talent, technology, and teamwork to achieve extraordinary levels of client service," said firm Managing Member Keith Vaughan. "Law firms succeed by bringing in the most talented people and putting them together in the best possible ways. Carmen’s background as a human resources leader and as a team builder makes her an ideal choice for this senior position."

Canales comes to Womble Carlyle from Wachovia where she most recently served as a Vice President and Senior Human Resources Business Partner for the company's Wealth Management Human Resources team. In that position, she supported senior leaders in all aspects of human resources, including executive coaching, diversity, employee relations, human capital development, recruiting and project management. From the time she joined Wachovia in 1998, Canales worked in a number of human resources roles for which she led various projects and training initiatives for the company's clients, partners and employees. While serving as a company Vice President and Project Manager in Human Resources, Canales created educational materials and a training approach that were adopted as a model for the entire company. She is also the founding member of the Wachovia Young Professionals, which is a group that seeks ways to attract and retain young professionals to Winston-Salem by sponsoring networking social activities. Additionally, Canales formerly served as the Winston-Salem site leader for the Wachovia Hispanic/Latino Employee Resource Network.

"I am looking forward to joining Womble Carlyle's management team," said Canales. "I believe that my experience in human resources, diversity, recruiting and retention and other areas, will serve me well as I work to effectively strengthen the presence of talent within the firm. I look forward to contributing to Womble Carlyle's long-standing commitment to providing outstanding service to their clients.

11-20-2006

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Womble Carlyle Sandridge & Rice, PLLC

Top Hill Aide Mashburn Joins Government Relations Team
John Mashburn, a longtime Capitol Hill staffer who served as deputy administrative assistant, policy director, and general counsel to Sen. Judd Gregg (R-N.H.) and before that as general counsel to then Senate Majority Leader Trent Lott (R-Miss.), has joined the government affairs practice of Womble Carlyle Sandridge & Rice in its Washington, D.C., office, as a legislative specialist.

Mashburn has worked for Republicans on Capitol Hill in both the majority and the minority, as well as in and out of leadership offices on both sides of the Hill for almost 20 years. During that time Mashburn has gained a reputation as expert on the U.S. Senate’s rules and procedures.

As policy director and general counsel to Gregg from 2003 until last week, Mashburn advised the senator on Senate floor management, legislative strategy, and policy development. As Lott’s general counsel from 2000 until 2003, Mashburn built support for the leadership agenda inside and outside of Congress, worked closely with the White House on Presidential initiatives and priorities, and advised Lott on floor strategy and management. He was directly involved in the passage of the No Child Left Behind Act, the Patriot Act, the Terrorism Risk Insurance Act as well as the Use of Military Force Resolution for Iraq.

"We are delighted to bring in yet another savvy longtime Hill aide for our legislative team," said Mark Poovey, a Womble Carlyle member who heads the firm’s Antitrust, Federal and State Regulation and Government Affairs Practice Group. "Our clients will benefit from John Mashburn’s long experience and knowledge of the players and the rules in the Senate. With the Senate divided 49-49-2, it is all the more important for clients to be able to turn to someone who really knows his way around the chamber."

As a member of Womble Carlyle’s D.C. legislative team, Mashburn joins Jimmy Broughton, former chief of staff for then-Sen. Jesse Helms (R-N.C.); Jeff Lane, former chief of staff for then-Sen. John Edwards (D-N.C.); Kevin Jones, a former aide to then-Sen. Lloyd Bentsen (D-Tex.); and Robert Cohen, a former counsel to the Senate Small Business Committee.

"I am delighted to join Womble Carlyle," said Mashburn. "I look forward to working with the other members of the legislative team and with attorneys from all of the firm’s offices to promote our clients’ interests."

Before working for Gregg and Lott, Mashburn held legislative and policy positions on the staffs of then-Sens. Paul Coverdell (R-Ga.), John Ashcroft (R-Mo.), and Jesse Helms (R-N.C.) and then-Rep. Tom DeLay (R-Texas). He began working on the Hill in 1987.

11-20-2006

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Womble Carlyle Sandridge & Rice, PLLC

Wachovia Completes Largest Syndicated Loan for Homebuilder in U.S. History
In 2005, Wachovia needed to put together the largest syndicated loan to a homebuilder in U.S. history—a $2.15 billion loan to D.R. Horton, the country’s largest homebuilder. So the banking giant turned to Womble Carlyle to assist it in putting the deal together.

Jim Lilly and Tricia Snyder of the firm’s Capital Markets Practice Group handled the complex transaction, successfully completing it to the satisfaction of both the bank and the borrower.

D.R. Horton wanted a more than $2 billion loan to finance homebuilding projects across the country. Wachovia, a long-time Womble Carlyle client, was selected as the principal lender for the facility.

Because of the size of the loan, other lending institutions—38 in all—were brought in to participate in the syndicate of lenders. Womble Carlyle has extensive experience with these types of syndicated loans and that experience led Wachovia to choose Womble Carlyle to handle the transaction.

The sheer scope of the transaction created challenges for Lilly and Snyder. The D.R. Horton loan was larger and far more complex than the typical homebuilder loan. Lilly and Snyder had to coordinate and communicate with all 38 lenders. Another unusual aspect of the case is that Snyder and Lilly had to write the legal opinion for the transaction, a task normally completed by the borrower’s counsel.

Wachovia completed a $2.15 billion loan for D.R. Horton—the largest loan syndication ever completed for a homebuilder. In addition, D.R. Horton could qualify for as much as $750 million in additional loans.

Lilly and Snyder began working on the loan in October, 2005; by December, the primary transaction was completed—well within the schedule set forth by the bank and the borrower. In addition, Womble Carlyle completed the deal for less than the firm’s original fee quote.

While Wachovia wanted to negotiate the best possible deal, bank officials also wanted to make sure D.R. Horton, a valued customer of the bank, received excellent service during the loan process. Snyder and Lilly were mindful of those concerns and in the end, reached an agreement that satisfied all parties.

11-20-2006

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Wolf Block Schorr & Solis

WolfBlock Joins Forces with Women's MBA Network of Philadelphia
Room Eight, the influential and well read New York political blog, has a new contributor: WolfBlock partner and former city councilman Ken Fisher.

Cofounded by New York Daily News columnist Ben Smith and Democratic activist Gur Tsabar, Room Eight includes the insights of anonymous commentators as well as well known figures such as Fisher. The site has become a must-read for the mainstream media and anyone else with an interest in the ins and outs of New York politics.

"The New York political process is on the cusp of change," said Fisher. "We have a new governor, and in 2008 term limits will result in a new mayor and other changes in local government. This portends well for businesses with interests in New York."

Room Eight is at http://www.r8ny.com; Fisher's posts are at http://www.r8ny.com/user/ken_fisher/track.

Fisher is a partner in WolfBlock's Real Estate and Environmental & Land Use practice groups and is resident in the firm's New York office. His practice concentrates on the civic fabric of the metropolitan New York area: real estate development, zoning and land use matters; administrative and regulatory law; government contracting; and counseling clients on strategic business and legal matters including negotiations and litigation. He represents a number of not-for-profit organizations in employment, governance and real estate matters. Fisher has written often on public policy and is host of Citywide, a monthly public affairs television program produced by the CUNY-TV.

11-20-2006

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Wilmer, Cutler, Pickering, Hale & Dorr, L.L.P.

Fourth Edition Of Gary Born's International Civil Litigation In United States Courts Published By Aspen Publishers
The fourth edition of Gary Born’s International Civil Litigation in United States Courts has been published by Aspen Publishers. Co-authored by Professor Peter B. Rutledge of the Columbus School of Law, Catholic University of America, the fourth edition is an essential resource for all practitioners and students of international litigation. In previous editions, the book has been lauded by critics as the leading US commentary and casebook on international civil litigation in US courts:

“The bible for litigation lawyers.”
“An excellent work….A felicitous combination of theory and practice.”
“The best available approach….”
“The most comprehensive work in the field”
“A remarkable work…No practitioner should be without it….”

Mr. Born is one of the world’s preeminent authorities on international commercial arbitration and international litigation. In 2006, he was ranked “World’s Best International Litigator” by Legal Media’s Expert Guides to the World’s Leading Lawyers – Best of the Best 2006. He is also consistently ranked as one of the world’s leading experts on international arbitration. Mr. Born is also the author of International Commercial Arbitration (3rd ed. Kluwer forthcoming 2007) and International Arbitration and Forum Selection Agreements: Drafting and Enforcing (2nd ed. Kluwer 2006).

11-20-2006

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Wilmer, Cutler, Pickering, Hale & Dorr, L.L.P.

Ernst & Young and WilmerHale Release 2006 Compensation & Entrepreneurship Report For Information Technology and Health Sciences Industries
According to the 2006 Compensation and Entrepreneurship Reports in IT and Life Sciences, total cash compensation for CEOs in both these industries showed robust growth in 2006. CEOs in the IT sector enjoyed a 4.3% increase in base salary and an overall 17% increase in total cash compensation, and Health Sciences CEOs reported a 16% rise in their total cash compensation with base salary accounting for 5.1% of that increase.

The report, co-sponsored by Ernst & Young LLP Strategic Growth Markets Practice, J. Robert Scott Executive Search, and Wilmer Cutler Pickering Hale and Dorr LLP collects data on the top executive positions in privately held, primarily venture-backed companies and presents a correlation between executive compensation and a number of other variables including financing stage, company size in terms of revenue and headcount, founder/non-founder status, industry segment, product stage and geography.

Identified trends in the IT sector include:

Incentive stock options remain the most common form of equity granted, accounting for 62% of the aggregate equity given.
Equity holdings for the founding CEO, President/COO and Chief Technology Officer drop significantly after the first round of financing.
Average CEO salaries increased from $211,000 in 2005 to $220,000 in 2006.
The average target bonus for the CEO is $93,000 in 2006 versus $57,000 in 2005.
With the increasing headcount, total cash compensation for the CEO generally rises from $260,000 in companies with 20 full-time employees (FTEs) to $397,000 at the largest companies surveyed with greater than 75 FTEs.

Identified trends in the Health Sciences sector include:

The average target bonus for the CEO in 2006 is $94,000, a rise of $39,000 from the 2005 actual.
Average equity holdings across the 13 executive positions surveyed totaled 16.2%, an increase from 14.5% in 2005.
There was an increase in the use of stock options in 2006. Approximately 82% of the companies surveyed utilized options while just 4% used restricted or common stock only.
Approximately 66% of the non-founding CEOs in the survey have a severance package with a median of 12 months. Forty-four percent (44%) of non-founding CSOs (Head of Research and Development) had a severance package.
A non-founding CEO commands a 22% premium in total cash compensation over the founding CEO.
Dilution of equity for the founding CEO is consistent across rounds of financing raised, moving from an average of 18.10% at companies with one or fewer rounds raised, to 7% at companies with four or more rounds of financing.

The 2006 survey marks the annual Compensation and Entrepreneurship Report in Information Technology with the largest participation in the history of the survey with more than 2,000 executives responses.

Ernst & Young is a global leader in professional services committed to restoring the public’s trust in professional services firms and in the quality of financial reporting.

J. Robert Scott is a retainer-based executive search firm specializing in the recruitment and selection of senior executives across a broad range of selected industries.

11-20-2006

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