New Washington, D.C., partner Chris Giaimo was profiled in the February 22, 2010, Law360 article, "Baker Hostetler Snags Arent Fox Bankruptcy Partner."
According to the article, Giaimo said he was attracted to Baker's national presence—including representation of Major League Baseball, Ford Motor Co. and the trustee of Bernard L. Madoff's former securities firm—as well as the local feel of the Cleveland-based firm. "They have really the whole country covered very well, so they're a much bigger firm than Arent Fox, but they have a very appealing Midwestern feel to them, so when you're in any office, it kind of feels like a small firm."
Also a lure for Giaimo was Baker's ability to get through the recession without instating devastating rounds of layoffs, as many other firms have done, according to the article. "They've done an outstanding job of weathering the economic storm that's really kind of put the pinch on a lot of law firms. While other firms were downsizing, Baker had nice strategic growth," Giaimo said. "It kind of speaks to their financial strength. You obviously want to go to a place that is financially stable," Giaimo added.
Giaimo said he has seen the bankruptcy landscape change over the course of his years in practice. The pinch on the credit market has turned a process that could once take several years into one that companies want to finish as quickly as possible. "There just isn't enough available credit to allow these companies to shoulder that. Bankruptcy is a very costly process, as ironic is that is," Giaimo said.