When we created the Valorem website, we boldly declared that "The Billable Hour Is Dead." It was a bold statement, clearly relying on the "dead man walking" concept. Today, a former partner and still friend of mine brought this blog post to our attention (Thanks Debra!): Billable Hour Admitted To Hospital. It is riotous. Here’s… Continue Reading
Monthly Archives: April 2009
Real Client Service? It is an issue of organizational DNA.
Posted in Client Service, CommentaryAnother great post by Dan Hull at What About Clients?, this one on Ease Of Use Services. Dan begins with a pet peeve I share, the way the gap between the lip service to client service and the actual service provided has rendered the notion of client service nearly meaningless. For some organizations–Dan’s firm, elite… Continue Reading
Jeff Carr’s Four Buckets– Advocacy, Counseling, Process and Content–And Change In The Legal Profession
Posted in Client Service, CommentaryJeff Carr, the General Counsel of FMC Technologies and ACC Board Member, has spoken often about his idea that legal services fit into four buckets, two of which he is happy to pay for and two of which he thinks will someday be free. Jeff says he happily will pay for advocacy and counseling, which require skill,… Continue Reading
Do Lawyers Systemically Fail To Get Things Done On Time?
Posted in CommentaryI was intrigued by a a post penned by my friend, Dan Hull, on What About Clients?. In We, The Undisciplined, The Miserable, Dan raises this issue: "Do we lawyers know how to get things done, done right and done on time? Do we even value that? I wonder." Dan then compares the results obtained… Continue Reading
You Buy Hours, You Get Hours. And Hours. And More Hours.
Posted in Commentary, Hourly Rates and AlternativesThe AmLaw Daily reports today that an insurance company has sought to compel arbitration against a prominent Los Angeles based firm over the reasonableness of its fees handling a toxic tort matter. Among the allegations are an associate who has not yet passed the bar charging $450 per hour. Over a 4.5 year period,the firm… Continue Reading
The Future Of Law?
Posted in Commentary, People, Places and BlawgsI had the great privilege of participating in FutureFirms 1.0, organized by Professor William Henderson of the Indiana University School of Law. The event, sponsored by Hildebrandt, feature four teams comprised of law firm partners, associates, current law students and actual clients. There was a fact pattern that all teams operated from, essentially a typical AmLaw… Continue Reading
On Being All Things
Posted in CommentaryYesterday, I saw something I had never seen before. A Lincoln pick-up truck. I’ve never seen a BMW pick-up, or a Lexus pick-up truck. Nor, if memory serves, an Audi, Bentley, Rolls, Porsche or Infinity pick-up. I was surprised. Lincoln used to represent the ultimate in American luxury cars. Why did this resonate with me? … Continue Reading
Are Discounted Hourly Rates The Answer?
Posted in Commentary, Hourly Rates and AlternativesThe March 30 issue of National Law Journal contains an article, reprinted on Law.com, discussing how some inhouse lawyers are responding to the economic crisis by asking their firms to slash hourly rates. The discounts discussed in General Counsel Pressuring Firms Amid Recession are not quantified, but include references to "we’ll match any qualified offer"… Continue Reading
Innovation During The Downturn? A Followup
Posted in CommentaryI recently wrote about whether BigLaw would take the opportunity provided by the economic downturn to change their fundamental business model. Yesterday, I ran across an article in law.com suggesting change may be occurring. Tough Times For Law Firms, Lawyers May Be Catalyst For Positive Change posits the theory law firms are changing because they… Continue Reading
Financial Advisors Encouraged To Bill By The Hour
Posted in Commentary, Hourly Rates and AlternativesAccountancy Age encourages financial advisers to "charge by the hour if you want to survive." Essentially, the argument is this: hourly fees are more predictable than commission-based income. Meaning, you can more more if you charge for your time than if you charge for your results. Pathetic. Especially when you realize that the minute the… Continue Reading
Inside Counsel Superconference: The Future Of Fees
Posted in People, Places and BlawgsI am honored to have been invited to participate on a panel discussing The Future Of Fees at Inside Counsel’s 2009 Superconference, the premier event of its kind for inside counsel. The program is wide-ranging and I am honored to be on a panel with Fred Bartlit, the renowned founder of Bartlit-Beck, Karen Klein, the… Continue Reading
Will Firms Get A Third Chance To Change?
Posted in CommentaryThe recent story of General Motors provides an interesting point of comparison for law firms. Before approaching the government last December for bailout money (and a tone-deaf request at that), General Motors had decades to change itself into a company that could compete in the future. It failed. Between December and last week, GM had… Continue Reading
One Bad Apple. One Little Thing.
Posted in Client Service, CommentaryI love the Westin Hotel in Seattle. I have several great memories of that hotel. But on Thursday, I was in a hurry and I needed to grab a quick bite. For some inexplicable reason, this hotel does not have a restaurant for breakfast. Instead, there is a little cafe where you can get breakfast,… Continue Reading