by Bruce | August 10, 2005 | Articles, Compensation, Cultural Considerations, Globalization, Leadership, Partnership Structures, Practice Group Management, Strategy
Is "leadership" a verb or a noun? I’m not trying to be cute—the real question is whether leaders are simply born, or can be made. To step back, leadership is one of those ineffable qualities the intrinsic desirability of which no one...
by Bruce | August 4, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, M&A, Strategy
If "quadrifecta" is a word, then I suppose we have one, although some of the four firms constituting it are, in the immortal words of Orwell’s Animal Farm, "more equal than others." Reed Smith is reported to be eyeing an acquisition of...
by Bruce | July 31, 2005 | Articles, Compensation, Finance, Leadership, Partnership Structures, Strategy
The AmLaw 200 (technically, the AmLaw 101—200) is now out and the most important generalization to be offered is that this group is not susceptible to generalizations. On a macro level, the news is good for these firms: Revenue was up year-over-year by 7%,...
by Bruce | July 25, 2005 | Articles, Compensation, Finance, Just Plain Interesting, Leadership, Strategy
Here are three rankings of top firms, all published this month. Any ideas on which is what? Ranking A Firm Ranking B Firm Ranking C Firm 1 Wachtell 1 Cravath 1 Wachtel 2 Cahill Gordon 2 Wachtel 2 Cravath 3 Sullivan & Cromwell 3 Sullivan & Cromwell 3...
by Bruce | July 24, 2005 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
Why are law firms partnerships? After all, across the rest of the economy, corporations are more than dominant; they own the landscape. Ever seen a trucking company, a retail chain, or even your friendly local locksmith shop organized as a partnership? ...
by Bruce | July 22, 2005 | Articles, Compensation, Cultural Considerations, Finance, Just Plain Interesting, Strategy
It takes little discernment to conclude that "Adam Smith, Esq." could be more appropriately subtitled "…an inquiry into the economics of [Big] law firms."* Not only would this conclusion be correct, but since I know for a fact that you,...