Lockstep 12 Hours GMT Away?

Lockstep, modified lockstep, or free-for-all?  (Then there’s always the Jones-Day model, which appears to be completely "secretive.")  Asia, it appears, is just coming to grips with a problem that has bedeviled US and UK firms for a long...

Between a Rock and a Hard Place

"Meritocracies can be very divisive," pronounces this British analyst, in arguing that the most rational and effective partner compensation model, indeed the "undisputed model of choice,"is the "modified lockstep." But isn’t...

Is Your CFO Like a 747 Pilot?

All of us have peeked inside the cockpit of big, modern, commercial aircraft and, if you’re at all like me, you see every available square inch covered with dials, knobs, toggle-switches, and warning lights, and you wonder how on earth the pilot keeps track of...

Rorschach Test on the Mommy Track

The Wall Street Journal front-paged a story today about the barriers women face in attempting to return to the workforce after having taken time off to be with their kids. Horror stories abound:  A woman who last was a prosecutor with the Manhattan DA’s...

Still, the Billable Hour Refuses to Die

What five questions does the managing partner of Arnold & Porter think his corporate clients should ask about the firm—but none ever has?  How are associates and partners compensated, for starters.  And if associate bonuses are a function of...

“In the Long Run We’re All Dead”

Econ. 101 would tell us that a law firm’s demand side is its clientele and its supply side is its partner and associate ranks.  Unfortunately, when your supply chain consists of professionally trained human beings, there is no such thing as just-in-time...
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