May held more bad news for the legal job industry. About 1,000 jobs were lost in the legal industry according to the new May job report by the Bureau of Labor Statistics. About 2,700 law jobs have been lost since this this time last year.
Some more bad job news: Fewer women are being promoted to partner, according to a report by the Project for Attorney Retention. So far in 2011, just 32 percent of attorneys promoted to partner have been women, a 2 percentage-point decrease from 2010. Finally, law graduates from the class of 2010 faced the worst job market since 1996, according to a report by the Association for Legal Career Professionals. Overall employment nine months after graduation is at 87.6 percent—in 1996, it was 87.4 percent.
Groupon's decision to go public with an initial public offering of $750 million was the week's big business news—Winston & Strawn lawyers are handing the IPO; DLA Piper is handling much of the litigation work required.
The Atlanta Thrashers were sold to a group who will move the NHL team to Winnipeg, Canada—the Thrashers' ownership group, Atlanta Spirit, is being advised by lawyers from DLA Piper; while the NHL is being advised by Thomas Gowan, a banking partner with Skadden, Arps, Slate, Meagher & Flom.
It was a busy week for the world's biggest law firm. DLA Piper hired life sciences and pharmaceutical lawyer Amanda Turnhill to work in its Sydney, Australia office. David Goldstein and Gerald Rokoff are joining the firm in New York, where Goldstein will lead the firm's investment funds practice. Both formerly worked with White & Case. In Houston, the firm hired intellectual property lawyers Claudia Wilson Frost and Jeffrey Johnson. Both formerly worked for Pillsbury Winthrop Shaw Pittman.
White House Counsel Robert Bauer is leaving his post to rejoin private practice. After a year and a half with the Obama administration, he will return to Perkins Coie as the end of June. He will be replaced by his deputy Kathryn Ruemmler, a former Latham & Watkins partner who prosecuted Enron.
Elizabeth Foster has joined SNR Denton in Los Angeles as a corporate partner. The firm also hired Bill McCollum, former Attorney General of Florida and Jeff Modisett, formerly of Bryan Cave. Both lead the firm's state attorneys general practice.
Foley & Lardner has launched Foley Ventures, a $4 million venture capital fund that will invest exclusively in clients of the firm. The firm also announced that it has hired health care attorney Donald Romano.
Dickstein Shapiro has hired Barry Seidel, Eric Fisher, and Stefanie Birbrower Greer as bankruptcy partners in New York.