For example, there had been leaks to Abovethelaw from associates at that top law firm when it delayed matching the Cravath $180K bump.
Also, when The Washington Post broke the story about Jones Day representing Donald Trump's 2016 campaign there were also leaks to Abovethelaw. Some lawyers at Jones Day were shocked (understatement.)
In addition, on Glassdoor, Jones Day employees only give the law firm a 3.2 out of possible 5. What is being measured is worker satisfaction with conditions of employment. Here you can read all about it.
But that was that.
Now we have a long form analysis of Jones Day's closed system in AmLaw. Here you can read it. The details released leave the system intact.
Essentially, what is obvious from the article is that Jones Day's black box is a business model which is effective. But not necessarily in yielding the highest PPEP. Had the firm the verein structure, that might have been higher.
However, in this era of client churn, Jones Day clients stick. In terms of client service, in nine out of 16 years, Jones Day came in as #1 on the BTI survey. It attracts plenty of former SCOTUS clerks. Of course, the up-to $300,000 sign-on bonus is a lure. But, former clerks know they can go anywhere.
Management consultants should be penning article on the edge lack of transparency can provide. Perhaps being an open system is over-rated. Has candor reached the point of diminishing returns?
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