BigTex


SCOTUS superlawyer Tom Goldstein posted this hilarious sendup of the classic personal injury lawyer TV ad, only this time aimed at clients needing SCOTUS bar appellate counsel.

Thx to Tom Goldstein and AbovetheLaw

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A poster over at Greedy Texas got me thinking about what the best qualitative metric of a BigTex vs. a MidTex firm is. They posit that “no one gives a crap” about gross revenue, and that Profits Per Partner (PPP) and Revenue Per Lawyer (RPL) are all that really matter.

Having examined the gross revenues numbers previously lets compare the PPP and RPL of the firms that matter most to this discussion (i.e., the firms compared last time based on gross revenue alone, and a few others that are more than just single-city shops, or Texas outposts of national/regional firms)

Quan

I noted a few of these firms as tied when their PPP and RPL were inverted and similar. All in all, a fairly surprising ranking (i.e., Winstead being closer in PPP and RPL to Kelly Hart than to, say, Thompson Knight)

However, I still am of the mind that BigTex and MidTex are more accurately terms denoting scale, a measurement for which gross revenue would seem to be the most pertinent metric. So I’d still draw the BigTex/MidTex lines according to gross revenue, but look to the PPP and RPL metrics to determine how efficient a firm is, and how rewarded one might be for their toil.

So of the four BigTex firms confirmed by gross revenue (Akin Gump, Fulbright, V&E, and Baker Botts), it looks like all but Fulbright hold up their end of the bargain on PPP and RPL as well.

Thx to Greedy Texas and the Texas Lawyer

Yee Haaa

The past few months or so have seen some truly momentous changes in the Texas appellate world, particularly as viewed from Houston.

In March, the respected appellate practice group at Mayer Brown splintered, with a portion leaving to head up the new appellate practice at Pillsbury, and another faction headlined by former SCOTUS clerks Brett Busby (Stevens, J.) and Jeff Oldham (Rehnquist, C.J.) moving to Bracewell Giuliani.

The latest addition to the Houston appellate scene is Morgan Lewis’ recent announcement that former Solicitor General Ted Cruz will be helping lead the firm’s effort to build the SCOTUS and national appellate practice from its Houston office.

Thx to SCOTX Blog and Tex Parte Blog

Not chump change

The terms, “BigTex” and “MidTex,” are thrown around a lot to indicate who the top firms in Texas are, often subjectively. Below, see the list of the highest-grossing firms in Texas during FY 2007.

Akin Gump $752 million
Fulbright $649 million
Vinson & Elkins $596 million
Baker Botts $577.7 million
Bracewell & Giuliani $293 million
Haynes and Boone $264.3 million
Andrews Kurth $251 million
Locke Liddell $244.5 million
Thompson & Knight $214.5 million
Susman Godfrey $171 million
Gardere $169.2 million
Jackson Walker $163.5 million

Clearly, the only firms that can truly be referred to as “BigTex” are Akin Gump, Fulbright, V&E, and Baker Botts, who each make multiples in excess of the next highest ranking firms.

“MidTex” then, is plainly populated by Haynes and Boone, Bracewell & Giuliani, Andrews Kurth, Locke [Lord], and Thompson & Knight.

Gardere and Jackson Walker may also be rightfully considered “MidTex” as well, but it is surprising (at least to me) that they are about a $100 million behind the other MidTex firms in revenue.

Most impressive is that Susman Godrey, while having only 85 lawyers, brings in more revenue than Gardere–which has 290 attorneys, and Jackson Walker–which has 321 lawyers. Unsurprisingly, profit-per-partner is tops once again at Susman, coming in at $3 million.

* * * UPDATE * * *

Compare the BigTex revenue numbers to that of BigLaw below and you’ll get an idea of the disparity between the two.

Wow

Thx to Res Ipsa and AbovetheLaw

Happy returns

Following up on yesterday’s post about the 2008 Baker Botts bonus structure, Greedy Texas reports that Thompson & Knight might actually best the venerable Texas partnership for years five and above:

T&K
Class Year…..Bonus at 2,000 Hours

2003………..60,000
2002………..75,000
2001………..75,000
2000………..75,000

BB
Class Year…..Bonus at 2,000 Hours

2003………..50,000
2002………..65,000
2001………..65,000
2000………..65,000

Thx to Greedy Texas

The most painfully humorous clip I’ve seen in a while.

Thx to Simple Justice

Greedy Texas is reporting a new Baker Botts bonus structure, which is a significant improvement over the former scale much derided by BigTex associates.

NEW:

Class Year…..Bonus at 2,000 Hours
2007………..0
2006………..5,000
2005………..15,000
2004………..35,000
2003………..50,000
2002………..65,000
2001………..65,000
2000………..65,000

OLD:

Old

Thx to Greedy Texas

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