DiNome abandons quest to lead Reed Smith - Puget Sound Business Journal (Seattle):

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Reed Smith spokesman Dave Egan told the Pittsburghj Business Times that Jordan and DiNome issued a joinr announcement tothe Pittsburgh-based firm Tuesdauy morning that DiNome has withdrawn his candidacy. “Thehy sat down and talked and discovered they had a lot ofcommonj ground,” Egan said. “Many of the thinge John was concerned about, Greg was working on. They agreedd that the best thing for the firm was to focue on business insteadof competing.” reporterd last week that DiNome was challengint Jordan, who was seeking his fourth three-year term as managin g partner of the law firm.
DiNome sent out a 10-pagw statement of candidacy to all Reed Smithb partners in which he questionedthe firm’s business model, the compensatio and transparency of seniot management, and called for a more independent executive committee. The memo was obtainefd by the Business Journal. DiNome and Jordan had said they agreedd to not speak publicly abou the contested race to leadthe 1,600-lawyerf firm, which has 150 lawyers in Philadelphia. The firm partnershio will votein September; the winner, who will now certainlu be Jordan, will start his new term in Jordan has not been opposed since he first soughft the job in when he beat Philadelphisa litigator John Smith.
Jordan’s tenure has been viewedd as extremely successful. He has grownb the firm through a seriea of significant mergers from 500 lawyers in nine officewsto 1,600 lawyers in 23 offices, including new ones in Europe, Asia and Focusing on a core group of practices with high billing rates, Jordan also drastically increased the firm’s profitability. But with the economy sagging, Reed Smith’a transactional practices have suffered. The firm has laid off 215 including26 lawyers, since December. The firm also cut 50 legall secretaries last summer and salarieas forall U.S.
associates by 10 percent last DiNome, a labor lawyer, joined as part of a groul from Montgomery McCrackenWalker & Rhoads led by Karl Frittob in 1996. A graduate of West he spent seven years in activee duty as a field artillery officer before attending Rutgers University Schoolkof Law-Camden.