"To be or not to be, that is the question."
The Dewey firm’s managing partner logged 3,300 hours last year, or 12.6 hours per week day. And Orrick’s managing partner has not practiced law since 1992; he’s been managing the law firm. Was the difference in management culture the reason the announced merger between these firms failed in the end?
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Do you travel frequently? Do you check your baggage? If yes, then you are a likely target for the baggage gremlin! (more…)
Lawyers have two duties of care concerning client records. (more…)
Jim Skinner, CEO of McDonald’s, was interviewed in Wall Street Journal and discussed his philosophy of management. Seems to me that his 5 tips apply to all businesses, even the lawyering business.
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In a Business Week article, Campbell Soup CEO, Doug Conant, was featured. Among the tactics he discussed that has caused greater success for the company is his emphasis on the employees of the company. (more…)
In today’s USAToday, Section B, there is an interesting review of three new books. If you believe the messages, you may have to change your business model. (more…)
This time of year, when bonuses and compensation issues are at the forefront of discussion, causes much angst for many lawyers, especially newer partners who have not yet had a chance to develop a solid track record for themselves within the firm. (more…)
The Dynamics of Billing, Profits and Compensation.
Many law firm compensation models are designed for individual gains rather than long-term growth and sustainability. Yet if a firm wants to promote the kind of cooperative effort that increases billings and profitability, it must change to a more cooperative compensation model.
The popular dicta says that people do that which is rewarded. Thus, review your compensation system to see what you want to achieve and what you reward. Are they the same? This is a good time of year to be asking this question, before 2007 begins.
"A day-and-a-half ago," as my mother used to say when talking about age, I was president of the California Young Lawyers Association, then about 50,000 lawyers age 36 or younger. I remember my induction dinner. I was proud to have been elected; my work schedule prevented me from being with my family as often as I should have or wanted … thus, I took my then age 6 and 8 son and daughter with me to the dinner. This was a first for those in my circle of colleagues and friends and set the standard for many young lawyers thereafter.
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The Wall Street Journal last Saturday wrote about what will happen to companies when their Baby Boomers retire. This discussion is consistent with our recent comments about law firms forcing partners to retire at an arbitrary age, usually at 65 years.
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