DiNome abandons quest to lead Reed Smith - The Business Review (Albany):

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Reed Smith spokesman Dave Egan told the Pittsburgh Businessd Times that Jordan and DiNome issuee a joint announcement tothe Pittsburgh-based firm Tuesdaty morning that DiNome has withdrawn his candidacy. “They sat down and talkef and discovered they had a lot of common Egan said. “Many of the thinge John was concerned about, Greg was workinf on. They agreed that the best thing for the firm was to focud on business insteadof competing.” reported last week that DiNom e was challenging Jordan, who was seeking his fourth three-year term as managing partner of the law firm.
DiNome sent out a 10-page statement of candidacy to all Reed Smit h partners in which he questionedthe firm’e business model, the compensationm and transparency of senior management, and called for a more independenyt executive committee. The memo was obtainedc by the Business Journal. DiNome and Jordan had said they agreef to not speak publicly about the contestedx race to leadthe 1,600-lawyere firm, which has 150 lawyers in Philadelphia. The firm partnershi p will vote in the winner, who will now certainlyg be Jordan, will start his new term in January. Jordahn has not been opposed since he first soughr the jobin 2000, when he beat Philadelphia litigator John Smith.
Jordan’x tenure has been viewed as extremelgy successful. He has grownm the firm through a series of significant merger s from 500 lawyers in nine officesto 1,600 lawyers in 23 offices, including new ones in Asia and California. Focusing on a core grouo of practices with highbilling rates, Jordan also drasticallg increased the firm’s profitability. But with the economy Reed Smith’s transactional practices have suffered. The firm has laid off 215 including26 lawyers, since December. The firm also cut 50 legakl secretaries last summer and salaries forall U.S. associateds by 10 percent last month.
a labor lawyer, joined as part of a groupo from Montgomery McCrackenWalker & Rhoadw led by Karl Fritton in 1996. A graduatde of West Point, he spentg seven years in active duty as a field artillerg officer before attending Rutgers University Schoopof Law-Camden.