As the Covid-19 crisis stretches on, law firms need a renewed focus on communication and culture. The managing partners of Sidley’s two Texas offices weigh in and also discuss how the pandemic has changed lateral and talent recruitment.
The Texas Middle Market – Flat or Firm, Stable or Stale?
There are seven middle market corporate law firms in The Texas Lawbook 50 in 2019 – down from nine a year earlier. They employed 721 corporate lawyers and generated $452 million in revenues. Some had record years. Others restructured. Legal industry analysts say these firms are a throwback to old-fashioned legal practices when lawyers were actually counselors for their business clients, and they might just thrive in this new crisis environment. Updated to include correction.
They Came, They Fought, They Conquered – The Facts Behind National Law Firms’ Invasion of Texas
For the first time ever, Texas lawyers for national law firms made more money – $3.48 billion – than their Texas-based competition in 2019, according to new Texas Lawbook data. The 16 fastest growing corporate law firms in Texas during the past five years are all headquartered outside of the state. “We saw the writing on the wall,” said Shearman’s Hugh Tucker.
Monica Latin: ‘Picking Your Law Firm is Like Picking Your Spouse’
Carrington Coleman has a new managing partner this week: Monica Latin, who has been the firm’s head of litigation. “We had an official passing of the torch Friday on an all-firm Zoom,” Latin told The Texas Lawbook in an interview Sunday. “We thanked Bruce [Collins] for his eight years of incredible leadership.”
Texas Legacy Firms: 2019 Was Good, 2020 May Be Make or Break
A dozen of the 17 Texas-based corporate law firms on The Texas Lawbook 50 generated more money in 2019 than they did the year before. Seven scored record high revenues. Some increased income more at their non-Texas offices. This year, however, the leaders at most of the Texas firms are just hoping they make 70-cents on last year’s dollar. The Lawbook provides an in-depth look at Texas firm finances.
Remember 2019? Texas Corporate Firms Scored Record Revenues, Profits – Why it Matters Now
The 50 largest corporate law firms operating in Texas scored record revenues and profits in 2019, added more lawyers than ever before and started the first two to three months of 2020 on pace for even loftier heights, according to exclusive new data collected by The Texas Lawbook. While 2019 seems like such a long time ago, legal analysts say the financial health of Texas law firms in the 14 months leading into the COVID-19 and crude oil price crises is a clear indicator of how they will make it through the rough times ahead.
Law Firms in Texas Beefed Up in 2019: Could They Have Picked a Worse Time?
Lawyer headcount for corporate law firms operating in Texas was stagnant for the past decade. But new Texas Lawbook 50 data shows that those same firms went on a relative hiring spree in 2019, adding more attorneys last year than they had during the previous four years combined. Analysts say the long-awaited growth occurred at exactly the wrong time. The Texas Lawbook has all the stats and comments.
Steve Susman Struggling After Freak Cycling Accident
“He’s unconscious, but there are some promising signs,” says Susman Godfrey managing partner Neal Manne. “He’s got movement on both sides of his body, to the extent there’s some movement of arms and legs on both sides. That’s a good thing when you have a brain injury, obviously.”
Updated – COVID-19 and Texas Bar Exam Options: A First-Year Lawyer’s Take
On Wednesday, the Texas Supreme Court issued an order regarding the July bar exam. As the COVID-19 situation continues to unfold, Texas should continue to evaluate all available options, including those beyond the traditional bar exam process. Jenae Ward, a first-year associate at Weil, weighs in.
SCOTX a la Mode: Rejects Emergency Challenge to Local COVID-19 Restrictions
The court rejected the effort by a group of protestors to curb the coronavirus curbs by filing directly to the state’s highest court. In rejecting
In Re Salon a La Mode, et al. the court showed sympathy for both sides, but ordered them to begin their legal protest with the lower courts.