Altheimer & Gray
Encyclopedia
Altheimer & Gray was a Chicago
-based law firm, which operated from 1914 to 2003.
It opened in 1914 as Altheimer, Mayer, Woods, and Smith. Founding lead partner Benjamin J. Altheimer was the son of Arkansas
planter Louis Altheimer, who established Altheimer, Arkansas
. Benjamin Altheimer was a prominent Chicago Democrat.
The firm was successful for many years, and was well regarded for its transactional practice, particularly in corporate mergers and acquisitions
. By 2000, it had some 300 attorneys and 300 staff members with offices in Chicago
, Springfield, Illinois
, and San Francisco. It also had an enviable international network with offices in London
, Shanghai
, Istanbul, Prague
, Warsaw, Bucharest
, Kiev
, and Bratislava
.
The firm also had strong connections in local politics. Its last chairman, Gery Chico
, had been
Chief of staff to Mayor
Richard M. Daley
, while partner Jeremy Margolis had been an Assistant U.S. Attorney
, head of the Illinois State Police
, and advisor to Governor
George Ryan
.
However, the firm's revenue began to decline after 2000. Poor management and excessive spending left the firm in debt. Several important partners left the firm, and the remaining partners could not agree on the proper strategy for the firm. By 2003, the debts and disagreements were unsupportable, and the firm filed for bankruptcy and was dissolved.
; its Kiev
and Warsaw offices switched to New York
-based Chadbourne & Parke
. The high-profile private equity
team decamped to Chicago-based Schiff Hardin
and then recently switched again to global giant Sidley Austin
. Altheimer's London office joined Atlanta-based Kilpatrick Stockton but later a number of those lawyers moved to White & Case
when Kilpatrick shuttered its UK operations. The San Francisco office disbanded and the partners scattered to such firms as Perkins Coie
, Mayer Brown
, Bingham McCutchen
, and Seyfarth Shaw
.
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
-based law firm, which operated from 1914 to 2003.
It opened in 1914 as Altheimer, Mayer, Woods, and Smith. Founding lead partner Benjamin J. Altheimer was the son of Arkansas
Arkansas
Arkansas is a state located in the southern region of the United States. Its name is an Algonquian name of the Quapaw Indians. Arkansas shares borders with six states , and its eastern border is largely defined by the Mississippi River...
planter Louis Altheimer, who established Altheimer, Arkansas
Altheimer, Arkansas
Altheimer is a city in Jefferson County, Arkansas, United States. Its population was 1,192 at the 2000 U.S. census. It is included in the 'Pine Bluff Metropolitan Statistical Area'.-Geography:Altheimer is located at ....
. Benjamin Altheimer was a prominent Chicago Democrat.
The firm was successful for many years, and was well regarded for its transactional practice, particularly in corporate mergers and acquisitions
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
. By 2000, it had some 300 attorneys and 300 staff members with offices in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, Springfield, Illinois
Springfield, Illinois
Springfield is the third and current capital of the US state of Illinois and the county seat of Sangamon County with a population of 117,400 , making it the sixth most populated city in the state and the second most populated Illinois city outside of the Chicago Metropolitan Area...
, and San Francisco. It also had an enviable international network with offices in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, Istanbul, Prague
Prague
Prague is the capital and largest city of the Czech Republic. Situated in the north-west of the country on the Vltava river, the city is home to about 1.3 million people, while its metropolitan area is estimated to have a population of over 2.3 million...
, Warsaw, Bucharest
Bucharest
Bucharest is the capital municipality, cultural, industrial, and financial centre of Romania. It is the largest city in Romania, located in the southeast of the country, at , and lies on the banks of the Dâmbovița River....
, Kiev
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
, and Bratislava
Bratislava
Bratislava is the capital of Slovakia and, with a population of about 431,000, also the country's largest city. Bratislava is in southwestern Slovakia on both banks of the Danube River. Bordering Austria and Hungary, it is the only national capital that borders two independent countries.Bratislava...
.
The firm also had strong connections in local politics. Its last chairman, Gery Chico
Gery Chico
Gery Chico is a Chicago lawyer, public official, former Democratic primary candidate for United States Senate, and former candidate for Mayor of Chicago. Chico served as the Chief of Staff to Mayor Richard M. Daley from 1992 to 1995, and board president of the Chicago Public Schools from 1995 to...
, had been
Chief of staff to Mayor
Mayor of Chicago
The Mayor of Chicago is the chief executive of Chicago, Illinois, the third largest city in the United States. He or she is charged with directing city departments and agencies, and with the advice and consent of the Chicago City Council, appoints department and agency leaders.-Appointment...
Richard M. Daley
Richard M. Daley
Richard Michael Daley is a United States politician, member of the national and local Democratic Party, and former Mayor of Chicago, Illinois. He was elected mayor in 1989 and reelected in 1991, 1995, 1999, 2003, and 2007. He was the longest serving Chicago mayor, surpassing the tenure of his...
, while partner Jeremy Margolis had been an Assistant U.S. Attorney
United States Attorney
United States Attorneys represent the United States federal government in United States district court and United States court of appeals. There are 93 U.S. Attorneys stationed throughout the United States, Puerto Rico, the U.S. Virgin Islands, Guam, and the Northern Mariana Islands...
, head of the Illinois State Police
Illinois State Police
The Illinois State Police is the state police force of Illinois. Officially established in 1922, the Illinois State Police have over 3,000 personnel and 21 districts. The main facilities of the Illinois State Police Academy, which were constructed in 1968, are located in Springfield. Prior to...
, and advisor to Governor
Governor of Illinois
The Governor of Illinois is the chief executive of the State of Illinois and the various agencies and departments over which the officer has jurisdiction, as prescribed in the state constitution. It is a directly elected position, votes being cast by popular suffrage of residents of the state....
George Ryan
George Ryan
George Homer Ryan, Sr. was the 39th Governor of the U.S. state of Illinois from 1999 until 2003. He is a member of the Republican Party. Ryan became nationally known when in 2000 he imposed a moratorium on executions and "raised the national debate on capital punishment"...
.
However, the firm's revenue began to decline after 2000. Poor management and excessive spending left the firm in debt. Several important partners left the firm, and the remaining partners could not agree on the proper strategy for the firm. By 2003, the debts and disagreements were unsupportable, and the firm filed for bankruptcy and was dissolved.
Dissolution
After the dissolution of Altheimer & Gray, much of its international network joined Anglo-French firm SalansSalans
Salans is an international, full-service law firm operating from 22 offices across 17 countries.-Profile:With 22 offices located in the world’s main commercial centres and emerging markets, Salans’ lawyers advise on complex transactions using a combination of local and international expertise...
; its Kiev
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
and Warsaw offices switched to New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
-based Chadbourne & Parke
Chadbourne & Parke
Chadbourne & Parke LLP, founded in 1902 by Thomas L. Chadbourne, currently has some 400 lawyers and tax advisors in 13 offices in ten countries...
. The high-profile private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
team decamped to Chicago-based Schiff Hardin
Schiff Hardin
Schiff Hardin LLP is a national law firm with nearly 400 attorneys practicing out of seven offices nationwide — Atlanta, Boston, Chicago, Lake Forest, New York, San Francisco and Washington, DC...
and then recently switched again to global giant Sidley Austin
Sidley Austin
Sidley Austin LLP, formerly known as Sidley Austin Brown & Wood LLP, is one of the oldest law firms in the world. It is the sixth-largest U.S.-based corporate law firm with more than 1,650 lawyers, annual revenues of more than one billion dollars, and offices in 17 cities worldwide, with the most...
. Altheimer's London office joined Atlanta-based Kilpatrick Stockton but later a number of those lawyers moved to White & Case
White & Case
White & Case was founded in New York in 1901 and has grown into one of the world's leading global law firms. The firm has since expanded, and has practice groups in emerging markets including Latin America, Central & Eastern Europe, Africa, the Middle East and Asia, as well as in Europe...
when Kilpatrick shuttered its UK operations. The San Francisco office disbanded and the partners scattered to such firms as Perkins Coie
Perkins Coie
Perkins Coie is an international law firm based in Seattle, Washington. It has been listed on the Fortune Magazine "100 Best Places to Work in America" for the past nine years. It is noted for its intellectual property, Labor and Employment, and Products Liability practice groups, and for its...
, Mayer Brown
Mayer Brown
Mayer Brown is an international law firm head-quartered in Chicago which specializes in commercial transactions and litigation. The firm employs more than 1,600 lawyers, including approximately 875 in the Americas, 425 in Europe and 300 in Asia....
, Bingham McCutchen
Bingham McCutchen
Bingham McCutchen LLP is a global law firm with approximately 1,100 attorneys in nine US offices and four international offices. It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, structured finance and capital markets, government...
, and Seyfarth Shaw
Seyfarth Shaw
Seyfarth Shaw LLP is an American law firm. It has offices in the United States, including Chicago, New York, Boston, Washington, D.C., Atlanta, Houston, Los Angeles, San Francisco and Sacramento, and an office in London, England.- Labor & Employment :...
.