How would the COVID-19 pandemic have disrupted the legal business before laptops and the internet – an era within the living memory of some lawyers still practicing, when secretary-typed documents, wall-wired telephones and telexes or faxes were the main alternatives to face-to-face engagement. Would lawyers have taken foolish risks with their health – just to make a living? Would communications obstacles shut down legal practices and squeeze revenues enough to cause some firms to fail? The Texas Lawbook takes a look.
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NDTX Judge Starr: A Famous Uncle, a Ragtop Beetle and a Career of Public Service
U.S. District Judge Brantley Starr has a penchant for public service, fond memories of growing up in West Texas and is a proud owner of a 1962 VW Ragtop Beetle. Judge Starr recently took time out of his busy schedule to share some insights about his background, his career and his experiences so far on the bench.
CDT Roundup: 18 Deals, 9 Firms, 182 Lawyers, $9.5B
SPAC deals have become a phenomenon during the last few months. That’s because they offer a path to going public that is easier than traditional routes. That said, there may be a downside to the new tool. Caroline Evans discusses along with last week’s deals in the CDT Roundup.
Future of Pipeline Projects at Stake in New Case Before U.S. Supreme Court
Invoking the seldom-cited Eleventh Amendment, the U.S. Third Circuit ruled that a law allowing the use of federal powers of eminent domain could not be used against property owned by state governments. The ruling will likely disrupt a number of natural gas pipeline projects aimed at bolstering the nation’s energy infrastructure. Tony Mauro explains the stakes.
Pandemic Finances – From Fear to Confidence (Part 2)The Saving Grace: Technology and Firm Culture
Texas corporate law firms salvaged their 2020 revenues because of strong demand from clients trying to navigate a perplexing business environment and a surprising capacity, heretofore hidden or rarely called upon, to supply those services remotely. Even though firms leapt into it literally overnight with no time to plan and prepare, remote working proved effective and efficient last year.
“The pandemic impacted how we did business much more than the business we did,” said King & Spalding’s Houston office leader Tracie Renfroe.
Pandemic Finances: The Charts
2020 Revenues v. 2019 More or Less Than Expected? Pandemic or Oil? Revenues per Lawyer Above $1 Million Revenues per Lawyer Below $1 Million Profits Per Partner: Top 13 Profits
Fertitta Empire to Go Public via $1.4 Billion SPAC Deal
In his third SPAC transactions in a matter of weeks, Houston entertainment entrepreneur Tilman Fertitta is taking his restaurant and gaming assets public. Caroline Evans has the names of those involved in the merger of his $6.6B company with a $200 million special acquisition entity known as FAST.
Sheppard Mullin, Kirkland Advise on $1.6 Billion Blackstone Deal to Acquire Interior Logic Group
The Carrollton-based company offers broader visualization of construction projects. Caroline Evans has details of the deal.
Legal Departments: Doing More with Less
For any industry, what goes up must come down. We see this in the airline industry on a minute-by-minute basis as planes take off and land as scheduled. In 2020, COVID-19 brought radical and immediate changes to businesses and their legal departments. Like airlines, the key is to agree on a flight plan and bring everyone in for a soft landing.
Fifth Circuit Blasts Federal Judge Lynn Hughes for Bias — Again
Federal appellate courts almost never remove an Article III judge from a case, but the U.S. Court of Appeals for the Fifth Circuit did so Friday for the third time in three years to U.S. District Judge Lynn Hughes of Houston. As a result, a professor’s employment discriminatiuon case against Sam Houston State University gets new life.