See you in the Home Depot lot.
Oct 10, 2024 (Reuters)
Cleary Gottlieb Steen & Hamilton will create a new category of non-equity partners, becoming the latest major U.S. law firm to move away from the traditional single-tier structure in which all partners have an ownership stake in the firm.
Adopting a non-equity partnership tier is “an important step for Cleary as we continue to strategically grow,” a firm spokesperson said in a Thursday statement. “Innovating in this way underscores our dedication to developing and retaining talent,” the spokesperson said.
New York-founded Cleary had 180 partners in 2023, according to figures published by the American Lawyer.
The firm generated more than $1.4 billion in total revenue, and profit per equity partner averaged $4.5 million, according to the American Lawyer data. Cleary has about 1,100 lawyers globally.
Read the full article here at Reuters
Other
New rule mandates time and a half pay for lower paid employees
Qualified lower-paid workers who earn a salary but work more than 40 hours in a week will soon be entitled to guaranteed time-and-a-half pay, thanks to a new labor rule announced by the Biden-Harris administration. This rule will raise the salary thresholds necessary...
Whitmer supports opt-out system for state park passes
Whitmer expressed her support in her 2025 budget recommendations for legislation that would automatically charge vehicle owners a fee for entry to state parks. Another fine piece of legislation introduced House Bill 5428, which would automatically take from vehicle...
Other Articles
The MSP is Concerned About Your Privacy (Biometric Information)
Is the Michigan State Police really concerned about your DNA / biometric privacy?Here's what they say on their websiteThe Michigan State Police (MSP) is committed to protecting the privacy of your potentially personally identifiable data (PPID) in a strong and...
The MSP and Your Privacy (Criminal History)
Is the Michigan State Police really concerned about your criminal history privacy?Here's what they say on their websiteThe Michigan State Police (MSP) is committed to protecting the privacy of your potentially personally identifiable data (PPID) in a strong and...
Michigan DNA Collection – The Law
Chapter 750Act 328 of 1931328-1931-LXXVI THE MICHIGAN PENAL CODE (EXCERPT)Act 328 of 1931Here's the website info750.520m DNA identification profiling; chemical testing; manner of collecting and transmitting samples; existing DNA identification profile; assessment;...
The 6th Amendment – Do You Know What It Is?
The 6th Amendment: is it still a thing?The 6th Amendment to the United States Constitution is a crucial pillar of the Bill of Rights, designed to ensure fair and just legal proceedings for individuals accused of crimes. Ratified on December 15, 1791, this amendment...