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12/7/04

Former California Governor joins firm


Gray Davis, who was ousted from office and replaced by Arnold Schwarzenegger in a recall election, has joined the firm of Loeb & Loeb and will specialize in corporate law. It was reported that Davis will mostly work in the firm's Los Angeles office but will spend time in New York as well. Associated Press

Sullivan & Cromwell announces bonuses
Law firm Sullivan & Cromwell, based in New York, announced year-end bonuses for associates from $20,000 to $30,000, compared with last year's $17,500 to $27,500. Bonuses will be paid to almost all associates, reflecting the improved economy. Associates also received bonuses in October. Last year, no such bonus was paid. The two bonuses will push total compensation to $155,000 for first-year associates, the highest level since 2000. New York Law Journal, Legal Week

Survey reports effectiveness of in-licensing
The practice licensing or purchasing IP and related assets from external organizations can increase a company's performance and growth as much as internal R&D, according to a cross-industry international benchmarking survey by McKinsey. In addition, companies can raise their overall licensing revenues by using in-licensing specifically to generate out-licensing revenues. The McKinsey Quarterly, 2004 Number 4

Firm names new managing partner
Lovells has elected David Harris, a finance partner since 1986, as its new managing partner beginning in May 2005. Current managing partner Lesley MacDonagh will carry on in an advisory role until the formal end of her 10-year term in April 2006. Legal Week

Baker & Hostetler increases staff in Florida
Cleveland-based Baker & Hostetler has added eight labor and employment attorneys to its Orlando office, increasing that office's staff to more than 50 attorneys. It also has more than 70 total employees in its national labor and employment practice. Firm Press Release

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