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The article discusses the bull market facing law firms in Texas. It mentions that local firms have had to adjust because of the rise of outside firms that have set up shop in Houston and Dallas as lawyer head counts have fallen in the state. It also notes the need for local firms to change their internal compensation and start compensating more highly the most productive partners to compete with outside firms.

Profiles Becky Rainey, general counsel for Taco Cabana Inc. of San Antonio, Texas. Job description; Work done on Cabana's pending acquisition by Carrolls Corp.; Career history in Taco Cabana; Pending litigation; Labor issue training; Perception of role as in-house counsel; Labor issue training.

Reports on Houston, Texas lawyers John Rainey and Richard Bays' joining of Trade-Ranger, an electronic business-to-business company for the energy industry. Rainey's role as a general counsel; Results of Trade-Rangers' holding of a 'beauty contest' for Houston law firms with experience in the energy industry and with dot-com companies.

Reports on settlement overtures allegedly being offered by American Home Products Corp., according to plaintiffs' lawyers who handle fen-phen suits. Lawyers' plans to proceed toward trials in Texas and the first verdict over the diet drug's alleged ill effects; Litigators' expectations that the first verdict over drug may set a `market rate'.

States that Carrington, Coleman, Sloman and Blumenthal of Dallas, Texas offered permanent job placements to 20 of its summer associates. How this move will benefit Carrington Coleman; Increase of the market rate for clerks at firms in Houston, Texas.

Focuses on the legal counsels involved in the defense of Arthur Andersen LLP during its six-week trial in Houston, Texas. Information on Russell Hardin of Rusty Hardin & Associates, the lead counsel for the defense; Details of the legal responsibilities that have been handled by Hardin and several partners and associates from the outside counsel team of Arthur Andersen during the trial; Criminal charges filed against Arthur Andersen LLP.