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“once-in-a-lifetime” – Valorem Law Group
As Nicole Nehama Auerbach joins Valorem, she says:
“I saw Valorem as a once-in-a-lifetime opportunity to really make a difference in the way litigation is handled… I was captivated by the firm’s commitment to provide real value to business clients, and, in particular, its emphasis on alternative fees. Alternative fees are more important than ever
What do Bear Stearns and Enron have in common?
The Services Safari Blog posted this yesterday:
Calling all Lawyers… The Bear Stearns Collapse
The following is an excerpt:
Shareholder litigants are going to be talking about this one tonight and tomorrow. Let’s recap the fall of Bear Stearns stock price and market value the last year:
Stock price last year: $159/share – market cap:
“economically-irrational” associate salaries hit ceiling
The Wall Street Journal has a post called: Big-Law Associates Facing 2008 Salary Cap by Dan Slater.
Here is a key paragraph from that post from which my title was derived:
"We called around to firms to find out whether associate salaries, called economically-irrational in some quarters, have finally (or, at least, for now) hit
Recession-Proof your Law Firm
The worst market crisis in 60 years: "recession or worse"? Says who? The 80th richest man in the world, George Soros, (estimated net worth of 8.5 Billion according to Forbes). Is Mr. Soros toying with the "D" word: "Depression" when he says "recession or worse"?
I recommend that you read the entire Financial Times
New York Times suggests top law firms seem absolutely irrational
Here’s the actual quote:
Lawyers are smart, but this herd mentality seems absolutely irrational, economically speaking — and not because the compensation is too high. The top law firms have been stuck in copycat mode for years. As soon as one of them raises salaries for associates, the others fall in line almost immediately.
Later
OUTSOURCING: “Lawyers are service providers. We are not gods”
"The objective is to have only the most valuable people in London or New York, and the others in India, China or Columbus, Ohio,” said Robert Profusek, co-head of the mergers and acquisitions practice at Jones Day in New York, who sends low-end work to the cheapest locations and plans to open a document center
Seduced by Success
Ahhhh yes… seduction!
Many great firms that I serve have a common enemy ”complacency” which Is indeed the result of decades of success. Managing Partners complain that they are unable to get their partners to pay attention to their future.
Read Jim Hassett’s blogpost, Have lawyers been seduced by success? In his fantastic blog: Legal
First Law Firm Goes Public – shares up 40% on first day of trading
The Wall Street Journal posts: Slater & Gordon: The World’s First Publicly Traded Law Firm
Managing Partners and other members of law firm C suites had better look at Slater & Gordon’s prospectus – it’s a gold mine, (pun intended).
Have a look at how risks are described – the Wall Street Journal post quotes