Retired Mayor Daley Takes Post At Law Firm
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UPDATED 06/01/11 7:36 a.m.
CHICAGO (CBS) — Retired Mayor Richard M. Daley has a new job with a Chicago law firm.
The mayor has joined the law firm Katten Muchin Rosenman LLP, which has offices in Chicago, New York, Los Angeles, Washington, D.C., and Charlotte, as well as London. There is also an office opening in Shanghai.
Trade and relations with China were a major focus for Daley in his final years in office. At Katten, he will be of counsel, and will use his knowledge and relationships around the world to benefit the firm, but will not be involved with any work involving the City of Chicago.
Katten is the law firm that negotiated the city’s controversial parking meter lease deal, in which the city entered a 75-year, $1.15 billion lease with a firm largely controlled by Morgan Stanley, to operate all of the city’s parking meters.
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“I chose Katten for a number of reasons. They’re a well-managed group of talented professionals. They have an innovative yet practical approach to helping clients accomplish their goals, and they are expanding globally,” Mayor Daley said in a news release. “The firm also has a demonstrated commitment to giving back to the community, which is important to me.”
Mayor Daley announced in September that he would not seek another term in office, and handed over the reins to Mayor Rahm Emanuel last month. Daley served 22 years in office.
One of Daley’s close friends, Terry Newman, is another rainmaker for Katten.
In addition to his new post at Katten, Daley has also been appointed as a distinguished senior fellow at the University of Chicago. He will begin coordinating a high profile series of urban policy lectures come July, at a reported salary of $100,000.
Katten is not disclosing what it will pay Daley, but it is expected that the two jobs will easily exceed the $179,000 he earned as mayor last year.