"[Law] Firms in financial ‘intensive care’ told to merge, divest or restructure as cash dwindles from accounts"

OK, this is a UK story but so what!  What reason do we have to believe that law firms around the world will not encounter similar challenges (perhaps they already are but are keeping it between themselves and their bankers).

This is

Law Professor William D. Henderson (click on photo for bio)

Managing Partners and law firm H.R. Executives should contemplate the meaning of Indiana University School of Law’s Prof. Bill Henderson’s post: "How the ‘Cravath System’ Created the Bi-Modal Distribution."

Professor Henderson builds on the work of NALP (The National Association for Law

Supplemental to my post "Sharp Pin Approaching Associate Salary Balloon", my friend and Edge colleague Robert Millard has created a post which may impacts the context for discussing associate salaries.  He explains his title: America’s Two Legal Professions with the graphic above.  Read his post for a detailed explanation.  Sometimes critical change is too subtle