UAL Attorneys Bill...

[ual-crewdesk-man]

HTTP://BIZ.YAHOO.COM/DJUS/030227/1239000825_1.HTML
Maybe we''re all in the wrong line of work...

 

[atabuy]

It seems ironic that Ual needed 2.8 billion to stay out of bk and pays the lawyers about the same amount to handle the bk so far and the counter is still ticking away.
Employees lose their stock, 401k's are devastated and our gov. feels more compelled to spend trillions on foreign aid. Wage a no win war and suck the country dry with higher oil prices.
This is a true outrage and we should get the gov. to pass laws to protect this type of.... oh! that's right.
The gov. is made up of lawyers.

 

[UnitedChicago]

yeah yeah - bk is expensive. name one company or industry that wouldn't or didn't spend this amount in legal and related fees in bk.

i know it's painful when salaries are cut and jobs are lost...but it's the reality.

 

[ozstamps]

Link does not work, but read one news report where the BK attorneys account for the month (?) came to some 7 figure sum and 238 or whatever, and they "forgave" the $238!

 

[Segue]

It certainly would have been better to settle outside ch11 but it was impossible for Tilton to convince the labor groups of the reality of the situation. So thats what they have to deal with now.

 

[ITRADE]

$2,630,000 at 8960 hours yields about $293 an hour. I can see that, sorta.

Those mid level partners can easily be $350 an hour with mid level/upper level associates in the $225 - $275 range.

Paralegals will cost you $75 - $115 an hour.

Junior associates will be $175 - $225 an hour.

Top crust partners are often $400 - $600 an hour.

I wonder about the hours a little bit. 8960 hours at 31 days in the month yields about 290 billing hours a day. Thats a lot of employees working on one matter.