Law Firm News

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Law Firm News

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Vinson & Elkins L.L.P.

Vinson & Elkins First Large Texas Firm to Raise Associate Salaries
Associate salaries are on the way up in Texas.

The executive committee at Houston-based Vinson & Elkins voted on Wednesday to raise associate salaries, moving first-year base salaries to $135,000 in Texas. The firm increased the first-year base in Washington, D.C., and New York City to $145,000, says managing partner Joe Dilg.

The raises are effective as of March 1, Dilg says.

With firms around the country raising associate salaries, Texas firms have largely stayed out of the fray -- until V&E made a move.

"We feel like we need to be able to ... compensate our attorneys based on the market that's there, not just the Texas market but the national market," says Dilg. "The national market had moved, starting with California, and moving across to New York and Washington. We have recruited and hired people on a national basis."

Dilg says V&E made adjustments in total compensation all the way up the associate salary scale.

He says first-years in Texas will be paid a $135,000 base salary plus a guaranteed bonus of $5,000.

Second-years will now earn $145,000 plus up to a $10,000 bonus. Third-year associates will get $150,000 plus a potential bonus of $20,000. It's $160,000 plus a potential $25,000 bonus for fourth-years; $170,000 plus a potential $35,000 bonus for fifth-years; $180,000 plus a potential $35,000 bonus for sixth-years; $185,000 plus a potential $40,000 bonus for seventh-years; and $190,000 plus a potential $45,000 bonus for eighth-year associates, Dilg says.

The productivity bonuses for third-year associates and up have three levels. The lowest is at 1,950 hours. The highest is at 2,300 hours, where associates would earn the full bonus, Dilg says. There are only two levels for second-year associates, he says.

Dilg says the firm's management met with associates last fall and promised to evaluate the salary market. These raises are a result of that evaluation, he says. An evaluation of salary levels for associates working in international offices is continuing, he says.

Dilg says the raises will cost the partners some money, "but everyone thinks it will be worthwhile." He declines to put a dollar figure on the raises for 2006.

The last time large Texas firms made a salary jump was in 2000, when most of the big Texas firms moved to a salary package of $115,000 for Texas associates.

03-10-2006

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Allen, Matkins, Leck, Gamble, Mallory & Natsis, LLP

MARK J. GRUSHKIN AND SAMUEL H. STEIN RETURN TO ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP
Allen Matkins Leck Gamble Mallory & Natsis LLP, a leading California business and real estate law firm, announced the return of Mark Grushkin and Sam Stein from Greenberg Traurig, both leaders in employee benefit and tax law with 47 years combined experience representing large public corporations, small and mid market companies, healthcare systems, nonprofit organizations, corporate trustees, and single employer plans.

“We are extremely happy to welcome Mark and Sam back to Allen Matkins,” said Brian Leck, Allen Matkins' Managing Partner. “Their experience as premier employee benefits lawyers in the Western United States is a valued component in our firm’s expanding plan for the future.”

Mark graduated from California State University, Los Angeles in 1975 and Southwestern University School of Law in 1978, and has established a career as a writer, speaker, lecturer and practitioner of law. He has spoken at numerous national and regional symposiums including the American Society of Pension Actuaries, the California Bar Association, Practicing Law Institute, and the University of Southern California Tax Institute, and served as a past president of the Employee Benefits Committee Subsection of the Los Angeles County Bar Association and the Beverly Hills Bar Association.

Mark Grushkin and Sam Stein first came to Allen Matkins in 1997, Mark as a partner and Sam as an associate, and both served in the firm’s Tax Department, with Mark serving as Chair of the firm's Employee Benefits Department for seven years. In 2004, both accepted a position as shareholders with Greenberg Traurig; however they decided to make a return to Allen Matkins this past month.

“We are very pleased to return home to Allen Matkins” says Grushkin.

Sam graduated with high honors from University of Illinois in 1984, and in 1989 from the University of Texas School of Law. Throughout his career, he has specialized in employee benefits and tax law, having written extensively on these subjects and served as a member of the Labor and Employment and Taxation Sections of the Los Angeles County Bar Association.

“Sam and Mark have a broad range of corporate tax and employee benefit law knowledge that will serve Allen Matkins' client needs well,” said Leck. “The diverse capabilities of the firm will also greatly benefit their existing client base as well as those who have worked with them in the past.

03-09-2006

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Orrick, Herrington & Sutcliffe LLP

Orrick Chairman Ralph Baxter Chaired 11th Annual Law Firm Leaders Forum
Ralph Baxter, chairman and CEO of Orrick, Herrington & Sutcliffe LLP, was chairman of the nation's largest and longest-running conference for law firm leaders, the Law Firm Leaders Forum, for the 11th consecutive year. Baxter, one of the founders of the forum, has played a pivotal role in making the conference a much-anticipated annual gathering for senior law firm leaders in large- or medium-sized law firms to discuss the changing landscape for the legal business. Panelists at the conference, held March 9 and 10 in San Francisco, included more than 20 law firm leaders who are recognized for their innovative approaches to management issues.

This year's program included a keynote address by Dan Abrams, host of MSNBC's ""The Abrams Report"" and NBC News Chief Legal Correspondent. The agenda tackled some of the most important issues faced by law firms today. Guest speakers at the forum included Thomas J. DeLong, professor at the Harvard Business School, Brad Hildebrandt, chairman of Hildebrandt International and Aric Press, editor-in-chief of The American Lawyer.

03-09-2006

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Paul, Hastings, Janofsky & Walker LLP

Paul Hastings’ Japan-China Group Completes a Landmark Onshore Acquisition of a PRC State-owned Listed Company
Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, has represented Sumitomo Corporation and Sumitomo Corporation (China) Holding Ltd. (Sumitomo), Japan’s third largest trading company, in the ground-breaking acquisition of shares in Henan Topfond Pharmaceutical Co., Ltd., one of China’s largest State-owned pharmaceutical companies.

This landmark transaction posed a unique set of legal challenges because it is the first time that a foreign strategic investor has acquired equity interest in a PRC State-owned listed company using an onshore structure and involving share reform (the requirement to convert untradeable or illiquid shares into tradable shares). Sumitomo’s innovative deal is expected to open the door to similar onshore transactions for foreign strategic investors in future.

Taking over sixteen months to complete, the Paul Hastings transaction team handled a broad range of PRC (based on US transactional experience) and Japanese legal issues such as public disclosure, shareholder compensation, compliance, valuation and foreign exchange issues as well as successfully securing the approval of the relevant PRC provincial and national regulatory authorities, including the Henan government, MOFCOM, SAFE and SASAC.

A team of Mandarin, Japanese and English-speaking U.S. and Japan qualified corporate lawyers from Paul Hastings’ Shanghai and Beijing offices, led by partner Toshiyuki Arai advised on the transaction.

Toshiyuki Arai, a U.S. and Japan qualified partner in the firm’s Shanghai office, commented: “Paul Hastings has a lot of experience in representing Japanese, American and other foreign strategic investors in their acquisitions in China, both onshore and offshore. This particular transaction is one of the most complex onshore foreign acquisitions ever to be completed in China and our team used cutting edge U.S. legal technology to structure this deal. We believe it will create a template allowing other foreign investors to acquire State-owned assets involving listed shares or even share reform.”

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm with nearly 1000 lawyers located in 17 offices in Asia, Europe and the United States. In Greater China, Paul Hastings is among the largest international law firms with a broad range of practices and over 130 lawyers in Hong Kong, Beijing, Shanghai and Tokyo qualified to practice law in Hong Kong, China, Japan, Singapore, Australia, England & Wales and the United States.

Paul Hastings’ Japan-China Group, comprising Japanese, Chinese and American lawyers based in Shanghai, Beijing and Tokyo, is involved in representing a broad range of Japanese and other foreign companies in their investments into China.

03-09-2006

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Parker & McCay, Attorneys At Law

Parker McCay Announces Expansion Into Atlantic City
West Atlantic City, NJ, March 9, 2006 — Regional business law firm Parker McCay announced today their expansion further into South Jersey with the planned opening of a new office in Atlantic City. The firm will lease space in nearby West Atlantic City beginning in mid-March, while work is completed on permanent space in Atlantic City proper.

Philip A. Norcross, managing shareholder and chief executive officer of Parker McCay, says the expansion validates the firm’s continued commitment to the South Jersey region, where the firm was established in Burlington County in 1915. “We are committed to meeting the needs of the South Jersey community, and our move into the Atlantic City market signifies our formal recognition of Atlantic City and its surrounding areas as integral members of that community,” stated Norcross.

Damon Tyner, formerly an attorney in Fox Rothschild’s Atlantic City office, is joining Parker McCay as the attorney-in-charge of the new office. “Damon brings to the firm not only tremendous experience, but will also complement our ability to better service clients and prospective clients in the Atlantic City area,” said Stephen J. Mushinski, Parker McCay’s administrative shareholder and chief operating officer. Mushinski said the firm plans on aggressively expanding the number of attorneys in their Atlantic City office.

“This is an exciting opportunity, not only for me, but for Atlantic City,” said Tyner. Atlantic City is in the midst of a rebirth, and I am pleased to continue to work in the City through my association with Parker McCay.”

Tyner’s practice consists of real estate development, zoning and planning issues and land use matters. He is a former solicitor to the Pleasantville Board of Education and has extensive experience working with municipalities and state agencies. He was named to the 2004 New Jersey Law Journal “40 Under 40” list, and was awarded the Hon. Benjamin A. Rimm Award by the Atlantic County Bar Association for his commitment to the legal profession and the community. For his service to the Atlantic County community, Mr. Tyner received the Judge Herbert Jacobs Award from the African-American Male Conference.

03-09-2006

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Brinks, Hofer, Gilson & Lione, P.C.

Former Motorola Executive Joins Brinks Hofer Gilson & Lione
CHICAGO – Brinks Hofer Gilson & Lione, one of the largest intellectual property law firms in the United States, recently announced that Michael Stolarski, 52, has joined the firm as counsel. “Mike will expand our capabilities in the area of intellectual property licensing, asset and risk management, and patent portfolio valuation,” said Brinks’ president, Gary M Ropski. “Mike’s substantial business background and industry experience make him a valuable addition to our firm.”

Stolarski previously worked at Motorola, Inc. where he was Vice President and Director of Intellectual Property Licensing from 2000 until he joined Brinks. He has significant experience in the licensing of intellectual property in the semiconductor, telecommunications and consumer electronics industries and in complex commercial and IP litigation. While at Motorola, he negotiated settlement and license agreements generating substantial royalty revenues and freedom of action with numerous companies, including, among others, Nokia, Samsung, Sony Philips, Matsushita, Intel, Mitsubishi, NEC, Sanyo, Sharp, Hitachi, Ricoh, Siemens, Ericsson, Toshiba, Kyocera and Yamaha. Prior to working at Motorola, Stolarski was a partner at Kirkland & Ellis from 1998 – 2000, after previously working as an IP licensing counsel and a trial counsel at Motorola from 1984 – 1998.

“I am extremely pleased to have the opportunity to work with Brinks Hofer Gilson & Lione,” said Stolarski. “As the IP marketplace continues to place significant demands on businesses throughout the world, it is vital that we assist our clients in protecting and extracting value from their intellectual property rights. Brinks’ considerable technical and legal expertise provides an invaluable resource in addressing these escalating demands.”

He received his J.D. from Boston University School of Law in 1979 and his undergraduate degree from Northwestern University in 1976.

03-09-2006

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Nutter McClennen & Fish LLP

Jesse Redlener teaches course on financial literacy to high school students with the Bankruptcy Cour
Jesse Redlener, attorney in the Bankruptcy and Creditor Rights practice, is a volunteer instructor for the Joint Bankruptcy Court/Boston Bar Association Task Force on Financial Literacy for Students. Jesse is teaching Dorchester High School students on how to finance a car on March 9.

The financial literacy educational program focuses on personal finances, covering budgeting, managing bank accounts, taxes, and responsible use of credit cards. The five bankruptcy judges in Massachusetts have volunteered to teach a round-up course with volunteer lawyers recruited by the Boston Bar Association at the end of the series.

03-09-2006

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