Thacher Proffitt & Wood, a law firm that invested heavily in mortgage-backed securities, lost over half its attorneys to a competitor and was unable to complete a merger to stay in business, ultimately dissolving. During the financial crisis, Sonnenschein Nath & Rosenthal implemented a growth strategy by hiring 100 top attorneys from the now-defunct Thacher Proffitt & Wood. This allowed Sonnenschein to gain market share and expertise in financial services law.
(How-to Handout for AZ voters) How you can support the Plain Regulations ActKath Straub
Brief, word document describing what you can do to help move the Plain Regulations Act out of committee toward becoming a law.
Includes sample text for letters you can write to your Senators and Representatives.
There is an accompanying presentation (that you can also swipe) describing what the bill is and how you will benefit it it passes.
Self-employed people can become an important source of growth for any country: they provide new innovations and create new employment opportunities for other workers. However, we should distinguish between necessity and aspiration driven self-employment. In our presentation, we introduce the concept of talent workers as a proxy for aspiration self-employment. We show that talent workers are more related to the positive spillovers highlighted by the literature.
Inequalities in an OLG economy with heterogeneous cohorts and pension systemsGRAPE
While the inequalities of endowments are widely recognized as areas of policy intervention, the dispersion in preferences may also imply inequalities of outcomes. In this paper, we analyze the inequalities in an OLG model with obligatory pension systems. We model both policy relevant pension systems (a defined benefit system – DB – and a transition from a DB to a defined contribution system, DC). Our framework features within cohort heterogeneity of endowments (individual productivities) and heterogeneity of preferences (preference for leisure and time preference). We introduce two policy instruments, which
are widely used: a contribution cap and a minimum pension. We show four main results. First, longevity increases aggregate consumption inequalities substantially in both pension systems, whereas the effect of a pension system reform works to reinforce the consumption inequalities and reduce the
wealth inequalities. Second, the contribution cap has negligible effect on inequalities, but the role for minimum pension benefit guarantee is more pronounced. Third, the reduction in inequalities due to minimum pension benefit guarantee is achieved with virtually no effect on capital accumulation. The
fourth result and the main policy implication of our study, is demonstrating that the minimum pension benefit guarantee addresses mostly the inequalities which stem from differentiated endowments and not those that stem from differentiated preferences.
Ocena wpływu regulacji dotyczących elastycznego czasu pracy na wzrost gospoda...GRAPE
Ocena wpływu regulacji dotyczących elastycznego czasu pracy na wzrost gospodarczy oraz wzrost konkurencyjności polskich przedsiębiorców
Raport GRAPE oraz IBS dla Ministerstwa Gospodarki
Differences in Gender wage gap over life cycleGRAPE
We explore the penalties experienced by women as they age. We use the German SOEP to track their wages from the early stages in their career till retirement. We found that the GWG has step increase at the beginning of the career to become flatter after the productive age (over 45 years old). The results indicate that adequate policy action to reduce the GWG should take the age dimension into account.
We explore the changes in the gender wage gap as women age. For this, we build on the DiNardo, Fortin and Lemieux decomposition to separate age and cohort effects. Our results suggest that the differences in wages increase during the life-cycle, possibly in a non-monotonic fashion. In turn, our results imply that policies addressing this issue should also consider age effects.
Productivity and inequality effects of rapid labor market reallocationGRAPE
Periods of economic distress are usually followed by changes in the productive structure. In our paper, we explore a particularly strong shock: transition to a market economy, and analyze the short and long run effects on inequalities.
(How-to Handout for AZ voters) How you can support the Plain Regulations ActKath Straub
Brief, word document describing what you can do to help move the Plain Regulations Act out of committee toward becoming a law.
Includes sample text for letters you can write to your Senators and Representatives.
There is an accompanying presentation (that you can also swipe) describing what the bill is and how you will benefit it it passes.
Self-employed people can become an important source of growth for any country: they provide new innovations and create new employment opportunities for other workers. However, we should distinguish between necessity and aspiration driven self-employment. In our presentation, we introduce the concept of talent workers as a proxy for aspiration self-employment. We show that talent workers are more related to the positive spillovers highlighted by the literature.
Inequalities in an OLG economy with heterogeneous cohorts and pension systemsGRAPE
While the inequalities of endowments are widely recognized as areas of policy intervention, the dispersion in preferences may also imply inequalities of outcomes. In this paper, we analyze the inequalities in an OLG model with obligatory pension systems. We model both policy relevant pension systems (a defined benefit system – DB – and a transition from a DB to a defined contribution system, DC). Our framework features within cohort heterogeneity of endowments (individual productivities) and heterogeneity of preferences (preference for leisure and time preference). We introduce two policy instruments, which
are widely used: a contribution cap and a minimum pension. We show four main results. First, longevity increases aggregate consumption inequalities substantially in both pension systems, whereas the effect of a pension system reform works to reinforce the consumption inequalities and reduce the
wealth inequalities. Second, the contribution cap has negligible effect on inequalities, but the role for minimum pension benefit guarantee is more pronounced. Third, the reduction in inequalities due to minimum pension benefit guarantee is achieved with virtually no effect on capital accumulation. The
fourth result and the main policy implication of our study, is demonstrating that the minimum pension benefit guarantee addresses mostly the inequalities which stem from differentiated endowments and not those that stem from differentiated preferences.
Ocena wpływu regulacji dotyczących elastycznego czasu pracy na wzrost gospoda...GRAPE
Ocena wpływu regulacji dotyczących elastycznego czasu pracy na wzrost gospodarczy oraz wzrost konkurencyjności polskich przedsiębiorców
Raport GRAPE oraz IBS dla Ministerstwa Gospodarki
Differences in Gender wage gap over life cycleGRAPE
We explore the penalties experienced by women as they age. We use the German SOEP to track their wages from the early stages in their career till retirement. We found that the GWG has step increase at the beginning of the career to become flatter after the productive age (over 45 years old). The results indicate that adequate policy action to reduce the GWG should take the age dimension into account.
We explore the changes in the gender wage gap as women age. For this, we build on the DiNardo, Fortin and Lemieux decomposition to separate age and cohort effects. Our results suggest that the differences in wages increase during the life-cycle, possibly in a non-monotonic fashion. In turn, our results imply that policies addressing this issue should also consider age effects.
Productivity and inequality effects of rapid labor market reallocationGRAPE
Periods of economic distress are usually followed by changes in the productive structure. In our paper, we explore a particularly strong shock: transition to a market economy, and analyze the short and long run effects on inequalities.
Job Trends for a Recovering Economy: A Recruiter\'s PerspectiveLynn Hazan
The economic downturn has radically altered the job market with increasing competition for fewer positions. Yet, there are still great jobs and emerging opportunities that point to a growing job market. Find out where the hot jobs are and how you can prepare for the economic uptick.
Essay On I Have A Dream Speech.pdfEssay On I Have A Dream Speech. Martin lut...Jennifer Johnson
Martin Luther King - Essay on his speech quot;I have a dreamquot; - GCSE .... I Have A Dream Speech Summary Essay Telegraph. Importance of I Have a Dream speech Essay Example Topics and Well .... Martin Luther King Jr.s I Have A Dream speech excerpt.. I have a dream speech rhetorical analysis. I Have a Dream: Rhetoric .... A dream essay writing. Hello and Welcome to Dream Quest One Poetry and .... Analysis of the speech I Have a Dream by Martin Luther King .... Martin Luther Kings quot;I Have a Dreamquot; speech analysis report - GCSE .... Essay On I Have A Dream Speech. Martin luther king jr i have a dream speech essay. Essay on Martin .... I have a dream speech full text - mazpak. I Have A Dream Speech Essay Introduction. quot;I Have A Dreamquot; Speech Analysis Free Essay Sample on Samploon.com. Martin Luther King, Jr. quot;I Have a Dreamquot; Speech Aug. 28, 1963 .... I Have A Dream. ️ I have a dream speech summary essay. FREE I Have A Dream Essay. 2019 .... I have a dream speech summary essay - hoolilisting. Analyse Martin Luther Kings quot;I Have A Dreamquot; Speech - GCSE English .... Martin luther king i have a dream speech analysis. I Have A Dream .... A Dream Come True Essay - CarleykruwWright. I HAVE A DREAM Excerpt from speech by Martin Luther King, Jr. Speech i have a dream summary. I Have a Dream Speech Analysis free .... Martin Luther King Jr.s quot;I Have A Dreamquot; Speech Martin luther king .... Martin luther king jr i have a dream speech essay - training4thefuture .... Martin luther king i have a dream speech analysis essay - Dissertations .... Stylistic Analysis of Martin Luther Kings I Have A Dream Speech .... Martin Luther Kings I Have a Dream speech Essay. I HAVE A DREAM-SPEECH BY MARTIN LUTHER KING JR. Teaching Resources. Final Essay I have a dream speech Martin Luther King Jr. Metaphor. Descriptive Essay: I have a dream speech analysis essay. i have a dream speech worksheet - Google Search Paragraph Essay .... I have a dream essay - The infamous speech that transformed history quot;I ... Essay On I Have A Dream Speech Essay On I Have A Dream Speech. Martin luther king jr i have a dream speech essay. Essay on Martin ...
The November Employment Report was disappointing. The stock market had set its sights high, anticipating stronger growth in nonfarm payrolls and a steady unemployment rate. Moreover, market participants seemed to be hoping for an upside surprise relative to the consensus forecast. The holiday shopping season apparently got off to a strong start, but that failed to translate into a corresponding jump in retail employment (at least, on a seasonally adjusted basis). Manufacturing jobs were soft. State and local government continued to shed jobs, reflecting budget strains. What’s in store for 2011? The November jobs data aren’t encouraging, but the recovery is likely to remain on track.
A panel of key thought leaders delve into an in-depth analysis of the current trends and recent court rulings involving determination of Patent Venue in light of the TC Heartland decision. Program will also provide the audience with practical strategies in bringing out the best in these lawsuits in a rapidly evolving legal climate.
Job Trends for a Recovering Economy: A Recruiter\'s PerspectiveLynn Hazan
The economic downturn has radically altered the job market with increasing competition for fewer positions. Yet, there are still great jobs and emerging opportunities that point to a growing job market. Find out where the hot jobs are and how you can prepare for the economic uptick.
Essay On I Have A Dream Speech.pdfEssay On I Have A Dream Speech. Martin lut...Jennifer Johnson
Martin Luther King - Essay on his speech quot;I have a dreamquot; - GCSE .... I Have A Dream Speech Summary Essay Telegraph. Importance of I Have a Dream speech Essay Example Topics and Well .... Martin Luther King Jr.s I Have A Dream speech excerpt.. I have a dream speech rhetorical analysis. I Have a Dream: Rhetoric .... A dream essay writing. Hello and Welcome to Dream Quest One Poetry and .... Analysis of the speech I Have a Dream by Martin Luther King .... Martin Luther Kings quot;I Have a Dreamquot; speech analysis report - GCSE .... Essay On I Have A Dream Speech. Martin luther king jr i have a dream speech essay. Essay on Martin .... I have a dream speech full text - mazpak. I Have A Dream Speech Essay Introduction. quot;I Have A Dreamquot; Speech Analysis Free Essay Sample on Samploon.com. Martin Luther King, Jr. quot;I Have a Dreamquot; Speech Aug. 28, 1963 .... I Have A Dream. ️ I have a dream speech summary essay. FREE I Have A Dream Essay. 2019 .... I have a dream speech summary essay - hoolilisting. Analyse Martin Luther Kings quot;I Have A Dreamquot; Speech - GCSE English .... Martin luther king i have a dream speech analysis. I Have A Dream .... A Dream Come True Essay - CarleykruwWright. I HAVE A DREAM Excerpt from speech by Martin Luther King, Jr. Speech i have a dream summary. I Have a Dream Speech Analysis free .... Martin Luther King Jr.s quot;I Have A Dreamquot; Speech Martin luther king .... Martin luther king jr i have a dream speech essay - training4thefuture .... Martin luther king i have a dream speech analysis essay - Dissertations .... Stylistic Analysis of Martin Luther Kings I Have A Dream Speech .... Martin Luther Kings I Have a Dream speech Essay. I HAVE A DREAM-SPEECH BY MARTIN LUTHER KING JR. Teaching Resources. Final Essay I have a dream speech Martin Luther King Jr. Metaphor. Descriptive Essay: I have a dream speech analysis essay. i have a dream speech worksheet - Google Search Paragraph Essay .... I have a dream essay - The infamous speech that transformed history quot;I ... Essay On I Have A Dream Speech Essay On I Have A Dream Speech. Martin luther king jr i have a dream speech essay. Essay on Martin ...
The November Employment Report was disappointing. The stock market had set its sights high, anticipating stronger growth in nonfarm payrolls and a steady unemployment rate. Moreover, market participants seemed to be hoping for an upside surprise relative to the consensus forecast. The holiday shopping season apparently got off to a strong start, but that failed to translate into a corresponding jump in retail employment (at least, on a seasonally adjusted basis). Manufacturing jobs were soft. State and local government continued to shed jobs, reflecting budget strains. What’s in store for 2011? The November jobs data aren’t encouraging, but the recovery is likely to remain on track.
A panel of key thought leaders delve into an in-depth analysis of the current trends and recent court rulings involving determination of Patent Venue in light of the TC Heartland decision. Program will also provide the audience with practical strategies in bringing out the best in these lawsuits in a rapidly evolving legal climate.
1. Hang the Recession A Case Update Sharvon Benjamin Luciano Furuti Rose Pompey Anthony Puente Mari Saucedo Kelly Schoenherr
2. Agenda Introduction/Case Overview Struggles of Thacher Proffitt & Wood Employee Update Sonnenschein Nath & Rosenthal today Current unemployment political debate Job creation Conclusion Questions
3. Thacher Proffitt & Wood’s growth was mainly due to mortgage-backed securities. Thacher Proffitt & Wood loses 100 attorneys to a competitor. Thacher Proffitt & Wood pursues a merger with another firm to keep its doors open. Thacher Proffitt & Wood law firm goes out of business. During the collapse of the housing market Sonnenchein Nath & Rosenthal implemented a growth plan. Sonnenchein Nath & Rosenthal hired attorneys from a failed rival. Introduction
4. The Struggle Sub-prime crisis strikes More than half of Thacher Proffitt & Wood’s attorneys join a competitor’s firm Plans for a merger fall through Thacher Proffitt & Wood closes it doors Thacher Proffitt & Wood Dissolves: Sonnenschein Rescues
13. How does this create a competitive advantage for firms? Sonnenschein Nath & Rosenthal saw the downturn as a chance to gain market share. Hired 100 of rival Thacher’s top attorneys as Thacher dissolved due to the economy Thacher’s financial-services lawyers would pair with Sonnenschein’s regulatory and lobbying practices in Washington Sonnenschein would hire the Thatcher attorneys at lower salaries than what the market had typically been offering before the economic crunch.
16. Salary Reductions & Lay-offs Sonnenschein Nath & Rosenthal plans to cut associate salaries, beginning June 1st. Sonnenschein Nath & Rosenthal recently laid off an undisclosed amount of associates. Sonnenschein Nath & Rosenthal reduces the salaries of their associates.
17. Current Unemployment Unemployment rate is 9.7% Payroll employment rose 431,000 in May Obama Administration strongly encourages job creation in the private sector
18. Job Creation Senate passed a $15 million job-creation bill Policy makers predict unemployment rate below 9% by the end of 2011. Banks are stabilizing but not improving rapidly.
21. Agency Group. (n.d.). The Employment Situation in May. Retrieved June 07, 2010, from FDCH Regulatory Intelligence Database: Business Source Premier database American City Business Journal. (2009, September 2). Sonnenschein lays off lawyers. Retrieved June 07, 2010, from Business Journals: http://www.bizjournals.com/sanjose/stories/2009/08/31/daily54.html Bario, D., & Staff. (2009). Proffitt and Loss. Legal Week. Fortado, L. (2008, December 23). Thacher Proffitt, 160-Year-Old Law Firm, to close. Retrieved June 09, 2010, from Bloomberg.com: http://www.bloomberg.com/apps/news?pid=email_en&sid=a9Oe4mPmsSkg Matthews, S. (2010, June 04). Lockhart Says Job Creation Too Weak for Big Cut in Unemployment. Retrieved June 07, 2010, from Bloomberg.com: http://www.bloomberg.com/apps/news?pid=email_en&sid=ap9vBhX95PvA Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2010). Human Resource Management: Gaining A Competitive Advantage. New York: McGraw-Hill/Irwin. Sonnenschein Nath & Rosenthal Profits Drop 3%. (2010). JD Journal. Weiss, D. C. (2008). Thacher Proffitt Announces Expected Dissolution. ABA Journal . References
Editor's Notes
Laid-off Associates -- This comes on top of the companies decision back in May to reduce base salaries for associates and move toward a performance based compensation plan.The longer a lawyer has been with the firm, the more their pay will be reduced.First year salaries, previously a Biglaw standard $160,000, will be reduced to $145,000. If an associate started in 2004 or earlier, the pay cut is 15%. Those who started in 2005/6 take a 14% cut. And the 2008 class is taking a 10% cut.