DEAL BOOK

A Peek Into How Wachtell Bills for Deals

A letter between Wachtell and a former client obtained by The American Lawyer shows that the blue-chip law firm uses an unusual billing structure for deals work: being paid a percentage of any resulting transaction, rather than billing by the hour.

The Year in Market Doublespeak

The past 12 months saw above-average creativity in saying one thing and meaning another. John Foley and Rob Cox of Reuters Breakingviews offer 10 euphemisms they would most like to disappear.