Sonnenschein opens office in Charlotte with team of 18 partners

05/02/07

Sonnenschein opens office in Charlotte with team of 18 partners

Sonnenschein Nath & Rosenthal has opened an office in Charlotte with nearly 18 capital markets attorneys joining the firm as partners. All of the attorneys were formerly working at Kilpatrick Stockton, LLP.

The office presently occupies a temporary space with plans to move to a permanent place later this year. With the new team in place, the firm plans to turn the local office into one providing multiple-practice groups.

Some of the attorneys, including Jay Suhr Jr., James Tucker, and Jonathan Nugent have worked in the areas of real estate finance and equity investment by traditional and capital market lenders. They will focus on the capital markets practice at Sonnenschein. The team also has in-depth knowledge of traditional commercial mortgage-backed securities finance and floating rate and equity transactions, among other areas.

Sonnenschein Nath & Rosenthal is a 700-lawyer firm based in Chicago. The firm provides legal and counseling services. Clients of the firm include nonprofit organizations, businesses, as well as individuals.

Freshfields raises lawyers' salary, bonus
In tune with increasing salaries in the U.S., U.K.-based international law firms have also raised their lawyers' salaries.

Clifford Chance , Linklaters , and Allen & Overy were among the first and now Freshfields Bruckhaus Deringer joins the race.

Beginning May 1st, newly-qualified lawyers at Freshfields will receive £65,000 ($130,296), which is an 18% increase from last year. According to the announcement, associates at the end of the one year post-qualification experience (PQE) can expect to get £71,500 ($143,308), £84,000 ($168,368) for those with two years PQE, and three years PQE will get a lawyer at Freshfields £90,000 ($180,394).

Apart from the rise in salaries, Freshfields is also offering increased bonuses. According to the new bonus structure, the firm will pay a yearly performance-related pay-out of £20,000 ($40,091) to all newly-qualified lawyers after six months with the firm. The new bonus format will allow lawyers with two and half years PQE to potentially collect up to £35,000 ($70,152) as a bonus.

Under the new salary structure, trainees are also expected to get a raise in pay of 23%.

BIZARRE NEWS

Toilet paper cuts at Hutchinson Correctional Facility
Inmate I: Can I have some more toilet paper?
Inmate II: Sorry, we already maxed out our quota of one roll a week!
Inmate I: Shit!!!

Pop Diva Sheryl Crow wrote in her tour blog that one way to save trees might be to limit the amount of toilet paper one uses to one sheet per sitting. The Hutchinson Correctional Facility took her statement seriously. However, it's not to save trees but rather to save cash. According to a new prison policy, the prisoners will be provided only four rolls of toilet paper per month, or on an "as-needed'' basis. The policy is one of the cost-cutting measures implemented by the correctional facility. This will save the prison nearly $600 per month. The 1,600 plus inmates at the facility are understandably angered by the newly enforced policy. According to a letter from an inmate to the Hutchinson News, aside from the obvious, inmates use toilet paper for a variety of other sanitary uses, including blowing their noses and cleaning the furniture in their cells. This policy is expected to make toilet paper a new form of currency among inmates. But seriously, four rolls per month? That's inhumane. The Judge would take this to court on the grounds of cruel and unusual punishment.