Recent Blog Posts
-
Smoking Lingerie Leads to Lawsuit
Nov 23 20093:11 pm EDT -
Oops
Nov 23 200912:01 am EDT -
The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT
End Comes Early for a Law Firm
Heller Ehrman has officially sunk. When last we wrote about the law firm, management had sent emails warning employees that everyone needed to show up for work as it moved toward a planned November 28 winding down of its operations.
But an email from management to employees, sent out earlier today, informed everyone that TODAY was in fact the last day.
How do lawyers break such news to their underlings? "It is with a great deal of regret that we write to inform you that we will not be able to pay you for work performed after today, Friday October 10, and, as a result, that your employment with the firm will be terminated today."
The email explains that the nosedive was forced upon the firm by two banks, Citigroup and Bank of America, which control the law firm's ability to make payments. "Generally, they have refused to pay employees who we cannot convince them are necessary (as they define it) for the wind down efforts."
The email goes on to say, "We understand how upsetting this news is," and then thanks the staff for its 'professionalism and forbearance to date" and asks for the same in the future. Signed, "The Dissolution Committee."
Weirdly, the official Heller site contains no information whatsoever on the sinking of the ship. The top news there is Heller's earning of a top diversity ranking for the third consecutive year.
When the firm voted to dissolve, several nearby watering holes extended happy hours for Heller employees. Let's hope they do the same this evening.
Karen Donovan






