April 21, 2004
Nobody Ever Got Fired for Hiring Skadden
In what it would be convenient to characterize as more evidence in favor of the consolidation trend mentioned in the Wilmer-Cutler/Hale & Dorr posting, this article discusses New York firms' successful invasion of Silicon Valley. They have opened new offices in the Valley and in San Francisco proper, and high-tech companies that previously used Wilson-Sonsini, [the late] Venture Law Group, et. al, are now turning to the likes of Skadden, Davis-Polk, and Simpson-Thacher.
While I would be as happy as the next New Yorker to gloat over the belated recognition of the superiority of our heavy-weight firms, I actually think the high-tech companies are simply being rational economic decision-makers. When the deal on the table (ca. 1995—1999) is a simple IPO, go with the local talent that has a proven record in that field. And, when the deal on the table (ca. 2001—2004) is a $1.8-billion acquisition, with complex antitrust, securities, tax, and financing issues built-in, go with the one-stop-shop that provides that array of expertise.
Posted by Bruce at April 21, 2004 3:46 PM | TrackBackPosted to Finance | Globalization Printer-friendly version
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)
"Adam Smith, Esq. is, and will remain, the definitive
voice on law firm strategy."
—David
Jabbari, Global Head of Know-How, Allen & Overy
"I just don't know what the profession would do without you."
—Chairman, AmLaw 25 firm
“Constantly stunning.’—Managing Partner
"I read three things: The Wall Street Journal, The Economist,
and Adam Smith, Esq.—and I tell my partners to do the same."
—Managing Partner, AmLaw 50 firm
“You have a fascinating niche which you cover ever so much better than
does the conventional legal press.”
—Walter Olson of Overlawyered
“Required reading: Amazing.”—Venture Capitalist
"You're the brand name in law firm economics. There is no one out
there—repeat, no one—who covers this business better, or thinks about
it more creatively, than you. I tell people this guy is really, really good."
—Chair/Managing Partner, AmLaw 50 firm
Business Pundit
CorporateCounsel.Net Blog
Conglomerate
BusFilm by Larry Ribstein
Business Pundit
Carnival of the Capitalists
Chicago Boyz
Ensight
Marginal Revolution
Ronald Coase Institute
Stephen Bainbridge
"Adam Smith, Esq.,"® an inquiry into the economics of law firms, and the maroon banner, are a federally registered trademark belonging to Adam Smith, Esq., LLC, which is partially owned and controlled by Bruce MacEwen.
This weblog is licensed under a Creative Commons License.
