Kirkland & Ellis, counsel to bankrupt United Air Lines, has thus far run up a tab of $84,892,637.50 handling the matter. Ten other law firms are also in on the action; for example, Sonnenschein Nath & Rosenthal, which represents United’s unsecured creditors, has billed some $38 million in fees. (Eric Herman, “Lawyers fly high on United bankruptcy”, Chicago Sun-Times, Jan. 23). Lattman and Ribstein comment (both Jan. 23).
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High Flyers
Why do those on the left so frequently hyperventilate about what CEOs earn – yet remain mute about this? The United Airlines bankruptcy might have been hard on flight attendants and baggage handlers, but it was very good to