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The combined firm's financial woes came largely from the pay guarantees given to Dewey's partners.
The firm has gotten into financial difficulties after extending lucrative pay guarantees to its top producers.
The firm has gotten into financial difficulties after extending rich pay guarantees to its top producers.
It has aggressively grown by hiring star lawyers from other firms with the promise of lucrative pay guarantees.
Goldman had more flexibility in adjusting pay because, he said, "we do not offer multiyear pay guarantees".
The firm recruited Mr. Otillar in 2010 as part of an aggressive growth plan, one of several dozen lawyers lured to the firm with lavish multiyear pay guarantees.
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David Einhorn, a well-known hedge fund manager, wants the company to return some of its cash to shareholders by issuing preferred shares that would pay guaranteed dividends.
David Einhorn, the hedge fund manager, has suggested that Apple issue a novel type of preferred stock intended to tap the foreign cash, which would pay guaranteed dividends.
More than one in six of Europe's pilots are now employed through a temporary job agency, are self-employed or work on a zero-hours contract with no minimum pay guaranteed.
The Guarantee Funds segment includes bank's obligation to pay guarantee for its proportionate share of the cost guarantee scheme.
But the CEOs want their sky-high pay guaranteed even when they fail, so they've fought us every step of the way, building thick walls of resistance to pay reform.
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