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How the hell does Dewey & LeBoeuf have $250 million in debt?
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Date: March 30th, 2012 4:47 AM Author: Haunting supple property WTF were they financing shitty movies on the side or something? betting it all on red? (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20343046) |
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Date: March 30th, 2012 8:58 PM Author: wine circlehead step-uncle's house gambling on their underproducing partners' receivables. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349694) |
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Date: March 31st, 2012 1:59 AM Author: Bipolar Charismatic Legend Station (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351506) |
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Date: March 30th, 2012 8:58 PM Author: Marvelous Famous Landscape Painting they bought every possible number combination for mega millions (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349701) |
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Date: March 30th, 2012 10:51 PM Author: High-end trailer park son of senegal (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350528) |
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Date: March 31st, 2012 2:27 AM Author: Magical market useless brakes (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351602) |
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Date: March 30th, 2012 9:02 PM Author: poppy hot nursing home antidepressant drug I keep telling you people a legal practice is a very capital intensive business, but you all seem to think all it takes is some office space and a secretary. I have a 55k annual marketing budget allocated just to me. Our "practice group" if you can call it that has a marketing guy who we pay 60k a year, and most of the practice groups have one too. It takes a lot of money to bring in clients. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349731) |
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Date: March 30th, 2012 9:16 PM Author: Haunting supple property i don't think any other big firms have that quantity of debt. it's not a systemic issue. it's a dewey issue. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349816) |
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Date: March 30th, 2012 9:18 PM Author: poppy hot nursing home antidepressant drug Most of them have millions, and millions in loans. Dewey is obviously a major outlier, but it takes money to make money. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349826) |
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Date: March 30th, 2012 9:19 PM Author: razzle misanthropic boistinker gay wizard Most have very small lines of credit they use to smooth cash flow over the course of the year. They don't have 250mm outstanding. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349833) |
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Date: March 31st, 2012 8:36 AM Author: Stirring Mauve Rigor You have no clue what you're talking about. And you're not a biglaw partner, you shitlaw scum. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351972) |
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Date: March 30th, 2012 9:18 PM Author: razzle misanthropic boistinker gay wizard You're a fucking horrible businessperson. Your secretary isn't a fucking capital asset. You don't take out debt to fund salaries unless you have a cash flow problem. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349827) |
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Date: March 30th, 2012 9:21 PM Author: poppy hot nursing home antidepressant drug Who said anything about a secretary? Marketing can eat 20% of revenue in a heartbeat. Rent is HUGE in Manhattan. These firms are being raped for every second someone isn't doing a depo in those big fancy conference rooms (and they sit empty more often than not). (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349839) |
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Date: March 30th, 2012 9:23 PM Author: razzle misanthropic boistinker gay wizard Your example of "capital intensive business" was your secretary and useless marketing guy. Spending a lot of money on current expenses is not the same thing as being "capital intensive". Taking out a bank loan to pay debt is a horrible idea and a sign of a serious problem too. Any well run biglaw firm has an extremely high margin after expenses. That's why the equity partners are fucking rich. Holy fucking shit, did you even go to college, much less law school? |
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Date: March 30th, 2012 9:26 PM Author: poppy hot nursing home antidepressant drug Learn to read numbnuts. I never said a secretary makes it a capital intensive business. I said the need to spend millions on marketing does. I, a shitty Of Counsel, with a book of business in the lowly hundreds of thousands eat up 55-130k in marketing resources every year depending on how you do the math, and that's without factoring in whatever my share of rent and other overhead is. My receivables cost the firm money before they even pay me. So no shit they are reluctant as fuck to toss people like me equity. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349857) |
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Date: March 30th, 2012 9:28 PM Author: razzle misanthropic boistinker gay wizard In other words your piece of shit firm operates at no margin. No one gives a fuck about the finances of your stripmall PI practice. It's entirely irrelevant an frankly you haven't the slightest idea what you're talking about, nor any business sense. You're just throwing around business buzzwords to try to sound smart. Dewey didn't go 250mm in the hole buying business cards and printing pitch books dipshit, and if they did, then they're an appalingly poorly run firm because none of their competitors have done the same. |
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Date: March 30th, 2012 9:30 PM Author: poppy hot nursing home antidepressant drug Yep, my 100+ attorney stipmall PI firm. Thanks for the idiotic reply. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349887) |
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Date: March 31st, 2012 12:29 AM Author: razzle misanthropic boistinker gay wizard Jacoby & Myers once had 1000 lawyers. It was still shitlaw. The only thing worse than living that life is being in denial about it. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351136) |
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Date: March 31st, 2012 2:02 AM Author: poppy hot nursing home antidepressant drug J&M isnt a real law firm. They are a franchise referral service masquerading as a law firm. You buy into it to get PI leads. Apples and salamis. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351517) |
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Date: March 30th, 2012 9:32 PM Author: peach headpube $250M of debt is not for working capital.
A $10M revolver? Sure.
$250M is a huge portion of the capital structure in something like a law firm. I hold to my dividend recap answer below |
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Date: March 30th, 2012 9:36 PM Author: Haunting supple property so how does dewey proceed? i think a bunch of their debt is structured as bond payments, too. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349927) |
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Date: March 30th, 2012 9:38 PM Author: poppy hot nursing home antidepressant drug I was thinking more along the line of a 30-40 million revolving line being more typical. 10 million isnt going to cover a month's payroll. There are 20-30 man PI shops with 10 million dollar lines of credit to say nothing of Vault firm. (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349949) |
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Date: April 11th, 2012 11:06 PM Author: Onyx site clown at a firm like Dewey, and many other NY biglaw firms, they typically are in the red for at least the first half of the year. think about it / huge fixed costs (rent and salaries), yet a system whereby collections only come in during the 2nd half of the year. why do you think we spend nov/dec raping clients to pay the bills? (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443753) |
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Date: March 31st, 2012 2:00 AM Author: Bipolar Charismatic Legend Station "Marketing can eat 20% of revenue in a heartbeat."
Maybe for a TV-advertising lawyer. |
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Date: March 31st, 2012 8:31 AM Author: claret elastic band hunting ground (guy who doesn't know what "capital" is) (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351968) |
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Date: April 11th, 2012 11:22 PM Author: startled rose queen of the night den i have made love to several women of color (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443946) |
Date: March 30th, 2012 8:56 PM Author: Haunting supple property (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349662) |
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Date: March 30th, 2012 9:05 PM Author: peach headpube Dividend recaps for the partners (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349751) |
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Date: March 30th, 2012 9:34 PM Author: Fuchsia cracking digit ratio this thread reminds me of lawyer's league sporting events.
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Date: March 30th, 2012 9:41 PM Author: startled rose queen of the night den (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20349977) |
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Date: March 31st, 2012 12:27 AM Author: razzle misanthropic boistinker gay wizard Dewey LA's softball team blows. Kirkland's is full of assholes. Sometimes stereotypes are true. |
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Date: March 31st, 2012 12:28 AM Author: Fuchsia cracking digit ratio more like shithead lawyers like yourself are constantly fighting and being excessively mean about nothing.
Dewey's bball team is very good. |
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Date: April 11th, 2012 11:13 PM Author: Primrose Spectacular House pdzorro is a notorious faggot.
and we all appreciate how you just gave your faggot self a semi compliment. hey faggot. the last time dewey's basketball team was better than it is now was right before they fired your faggot ass. problem is, with your gangly, non-dribbling, homo-bitch-caller ass (as opposed to shotcaller), you disgraced your firm and race (or at least 1/2 |
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Date: April 11th, 2012 11:21 PM Author: House-broken Locale Lol wtf
Eaaaaaaarl |
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Date: March 30th, 2012 10:51 PM Author: Aromatic jet sandwich For anyone at the firm/that knows anyone at the firm, any word on developments this week? Things getting better or worse? (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350520) |
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Date: March 30th, 2012 10:53 PM Author: Orange Hall Juggernaut *managing partner surrounded by mega millions tickets watching the drawing at 11 with a gun in his mouth* (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350545) |
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Date: March 30th, 2012 10:56 PM Author: self-centered arousing dog poop Beat me to it and with better imagery to boot. Good luck tonight breh (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350566) |
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Date: March 30th, 2012 10:59 PM Author: Orange Hall Juggernaut ty and to you! (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350597) |
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Date: March 31st, 2012 2:49 AM Author: irradiated impressive becky spot (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20351642) |
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Date: March 30th, 2012 10:54 PM Author: self-centered arousing dog poop (Dewey partners furiously coppin dat Mega Millions quick pick) (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20350557) |
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Date: March 31st, 2012 9:12 AM Author: Primrose Spectacular House *is a fucking moron*
*doesn't understand how a company could amass debt* |
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Date: April 11th, 2012 11:01 PM Author: Haunting supple property (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443687) |
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Date: April 11th, 2012 11:08 PM Author: Laughsome Shitlib Garrison they went to law school (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443776) |
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Date: April 11th, 2012 11:21 PM Author: Trip black woman stage their TTT clients won't pay up. lol, just lol (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443943) |