- As Howrey Profits Plummet, Partner Says ‘We’ll Take a Torpedo or Two’ But Likely Won’t Sink
As Howrey Profits Plummet, Partner Says ‘We’ll Take a Torpedo or Two’ But Likely Won’t Sink
Posted Jan 24, 2011 3:14 PM CDT
By Martha Neil
With profits that reportedly may have dipped as much as 55 percent below projections for 2010 and a steady stream of partners heading for the door, the future isn't entirely clear at Howrey.
Following the announced departure of Henry Bunsow with a reputed $20 million book of business, head honcho Robert Ruyak flew out from the nation's capital last week to assure Northern California partners that there are no plans to close any offices there, reports the Recorder in an article reprinted in New York Lawyer (reg. req.).
However, some other partners also may be leaving—among them William Rooklidge, the co-chair of the firm's intellectual property litigation group. He is heading to the Irvine office of Jones Day with at least three partners, the legal publication says, relying on an unidentified source.
(The latest news is that Winston & Strawn is reportedly making offers to Howrey lawyers.)
And even those who plan to stay admit that it's not entirely smooth sailing.
"We'll take a torpedo or two," says one unidentified partner. "Will it sink us? I don't think so, but is it possible? Yes."
Another partner, Lloyd "Rusty" Day Jr., says he's just trying to focus on his own work. "A lot of firms are calling me," he tells the legal publication, "but I'm looking to help Howrey get through this thing and I hope it does."
ABAJournal.com: "Latest Howrey News: Top Antitrust Partner Is Leaving, Salt Lake City Office to Close"
Updated on Jan. 25 to include information from subsequent ABAJournal.com post.