Huge fees don't foil his company
Article Abstract:
Lawrence R. Purtell, the executive vice pres and general counsel of the Aluminum Co of America, the world's largest producer of the metal and with mining, smelting and fabricating and recycling operations. The company has outsourced most litigation work to New York's LeBoeuf, Lamb. From relying on just one firm, Alcoa decided it could decrease in-house legal staff from 65 to 50. Outside legal fees account for less than 50% of the company's total legal budget as the in-house legal staff handles, aside from litigation, much of the company's other legal work, including corporate finance.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Directing change at ITT industries
Article Abstract:
Vincent A Maffeo, the senior vice pres and general counsel of ITT Industries, heads a department which comprised 50 lawyers before the sale of ITT's automotive businesses. ITT Industries was formed after the three-way split of its then-parent - the former telephone and telegraph powerhouse - into an insurance company, a hotel and casino company, and an industrial and manufacturing division. The legal department focuses on corporate management, tax, securities and intellectual property, and general commercial matters. The in-house staff is lean and outside counsel is used sparingly.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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