Just posted in the Wall Street Journal Law Blog: a prediction that 2007 will bring "lots more associates," lots more hours and more revenue for law firms. These are conclusions from Citibank’s soon-to-be-released Managing Partner Confidence Index. The Journal’s post attaches several slides from the Index. So we have an expectation of more hours from… Continue Reading
From Seth Godin: Most marketing (and most business) is usually like this: Do this and get that. Figure out what you want, figure out what you need to do to get it, and go do it. From there, Seth shares some thought about his Dad and the good things he did for people. His Dad… Continue Reading
Ten days ago, I posted a pithy note repeating a speaker’s declaration that the billable hour was dead. Never in my wildest dreams did I expect that post to generate the level of comments it did, especially since I have railed against the billable hour on so many other occasions. See some of my posts… Continue Reading
My friend Dan Hull has a short post reminding us of the International Business Law Consortium (which Dan’s firm and my firm, courtesy of Dan, are members of). That reminder, by itself, is a good thing. But the better part of Dan’s post is his link to a prior post on the IBLC. His prior… Continue Reading
Seth Godin got me thinking. He does that to people. He is, as he describes himself, an "agent of change." And I like nothing better than change, so maybe that’s why I am such a fan. His recent post, Thrill seekers, divides people into two categories–thrill seekers and fear avoiders. I can’t better his description… Continue Reading
Thanks to Tom Kane, I was referred to a post by Pamela Slim in Escape From Cubicle Nation (by the way, I love the blog’s subtitle–"How to go from corporate prisoner to thriving entrepreneur"). The post is "The key to small business success: be the sharpest knife in the drawer." It’s a wonderful story–Pamela’s mother… Continue Reading
As I mentioned in my last post, Bruce MacEwen had asked his Adam Smith, Esq. readers to vote in a poll on the value of Profits Per Equity Partner (PEP). As of now, fully half of those participating voted that PEP was of no value and another 20% said that while the number was at… Continue Reading
I recently expressed some frustration with use of Profits Per Partner or Profits Per Equity Partner as a benchmark for firm performance. Bruce MacEwen takes the issue further in today’s Adam Smith, Esq. post "Is PEP The Proper Measure Of Success?" Bruce cites a piece by Guy Beringer, a senior partner at Allen & Overy,… Continue Reading
For those of you who try cases (as I do), I wanted to alert you to a new (well, relatively new) blog named Deliberations, written by my friend and former trial partner, Anne W. Reed of Milwaukee’s Reinhart Boerner. Brilliantly written and insightful. The blog world is now a much better place. Welcome, Anne!
Larry Bodine’s post on his discussion with Mayer Brown’s Director of Global Communications, Doug Kramer, got me thinking. In case you missed it, Mayer Brown fired 45 partners–men and women who have sacrificed for the firm and who have families to feed and kids to put through college. The reason? Well, Mayer Brown’s profits per… Continue Reading
All you lawyers can breathe easier now. This just in: "The hourly rate is alive and well. Reports of its death, which emerged from a conference of law firm leaders in San Francisco, are, to use Mark Twain’s famous line, greatly exaggerated. The reports of the hourly rate’s death were questioned when no body was… Continue Reading
Just thought you would want to know. At the Law Firm Leaders Conference in San Francisco, Dan DiPietro of Citibank declared "the billable hour is dead." He went on to say that "I really believe the business model is tired and old and not working for a lot of firms." Ya think?
Does anyone else think that clients are getting lost in all the discussion about the impact of the latest increases in associate salaries? Uber-blogger Bruce MacEwen has a terrific post addressing the economics of the issue from the standpoint of the large firm. So the debate rages about whether there are good, or at least… Continue Reading