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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: translucent misanthropic plaza organic girlfriend 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: racy french chapel son of senegal 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: garnet degenerate national security agency (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: self-absorbed maize black woman station 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: Bearded chartreuse turdskin (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: Clear Sandwich Juggernaut (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: Razzmatazz narrow-minded native 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: translucent misanthropic plaza organic girlfriend 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: Razzmatazz narrow-minded native 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: Mint orchestra pit famous landscape painting 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: 180 half-breed nursing home 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: Mint orchestra pit famous landscape painting 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: Razzmatazz narrow-minded native 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: Mint orchestra pit famous landscape painting 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: Razzmatazz narrow-minded native 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: Mint orchestra pit famous landscape painting 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: Razzmatazz narrow-minded native 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: Mint orchestra pit famous landscape painting 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: Razzmatazz narrow-minded native 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: Irradiated Parlour $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: translucent misanthropic plaza organic girlfriend 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: Razzmatazz narrow-minded native 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: Avocado vigorous useless brakes office 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: garnet degenerate national security agency "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: Copper cowardly skinny woman corner (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: doobsian mildly autistic keepsake machete haunted graveyard 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: translucent misanthropic plaza organic girlfriend (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: Irradiated Parlour 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: Concupiscible startled forum wagecucks this thread reminds me of lawyer's league sporting events.
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Date: March 30th, 2012 9:41 PM Author: doobsian mildly autistic keepsake machete haunted graveyard (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: Mint orchestra pit famous landscape painting 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: Concupiscible startled forum wagecucks 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: iridescent bateful home sweet tailpipe 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: crusty death wish Lol wtf
Eaaaaaaarl |
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Date: March 30th, 2012 10:51 PM Author: Comical well-lubricated gas station fanboi 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: bistre stimulating alpha *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: cracking confused theater stage crotch 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: bistre stimulating alpha 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: dark dilemma (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: cracking confused theater stage crotch (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: iridescent bateful home sweet tailpipe *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: translucent misanthropic plaza organic girlfriend (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: appetizing location hairy legs 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 carnelian area their TTT clients won't pay up. lol, just lol (http://www.autoadmit.com/thread.php?thread_id=1911605&forum_id=2#20443943) |