Crain's Cleveland Business reports that the local law firm of Weston Hurd has acquired the Beachwood law firm of Persky, Shapiro & Arnoff Co. L.P.A., which employed 7 attorneys. Weston Hurd Managing Partner Carolyn Cappel has indicated that this acquisition will add a tax practice to her firm.
Crain's Cleveland Business reports that the exodus to the suburbs continues for downtown Cleveland law firms. The latest in the migration is the law firm of Seeley Savidge, which recently moved its offices and staff to Westlake, Ohio. The firm now occupies about 3,000 square feet more than it was using in downtown Cleveland. Being further away from the hub of local federal and state court adjudications will certainly keep the firm's docket clerks hopping.
The American Lawyer magazine has issued its annual survey measuring the satisfaction of midlevel associates employed by the nation's top law firm's. According to the survey results, the average satisfaction was 3.81 on a scale of 1-5, but more than half of the respondents planned on leaving their firms within 5 years. Interestingly, about half of the firms either do not care or are happy when associates leave. The survey also indicates that there are going to be fewer graduates taking jobs in AM Law 200 firms, leading American Lawyer to make 3 major predictions: "First, in the short run, the war for talent will become more ferocious. Second, the cost of talent will only increase. And third, the need for firms to differentiate themselves will become apparent even to the hidebound." The report further indicates that although associate starting salaries currently begin at $160,000, the predicted shortages are likely to push salaries over $200,000. American Lawyer Subscribers can read the full survey report online, and members of the Cleveland Law Library can read the Library's copy in-house or check it out.
According to Crain's Cleveland Business, the law firm of Thompson Hine just announced that it has hired a new Chief Operating Officer named Frank LaManna. Mr. LaManna was most recently employed as both the Executive Director and CFO at Calfee Halter & Griswold, another large Cleveland law firm.
