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Shearman - bitter, not sweet??

Why pick on S&S? It's strange that you would pick on S&S (who have actually grown their PPP/PEP over the last few years), yet laud a firm like Mayer Brown which has actually lost almost 150 equity partners over the last few years (almost as many partners as there are at S&S) and has so little cash following the recent boom that they can't repay the capital of all their departing partners, or pay any distributions to their remaining equity partners so far in 2008. Their PEP/PPP in London (which was one of their better offices) plummetted in the otherwise banner year that was 2007, as revealed by their LLP accounts. I only mention MB as an example of apparently better performing firms (there are others I could pick on as well), yet you have picked out S&S (which has twice the PPP and PEP of MB) as somehow being a lesser firm than MB. Why?

14-May-2008

7:40 am