If Supply Grows Faster Than Demand,…

Sometimes it’s the quiet, seemingly unremarkable, things that  ultimately rear up and bite you.   Here may, or may not, be one. Let’s start with this chart from Thomson Reuters redoubtable annual Report on the State of the US Legal Market (here, the 2024 edition... read more +

The Associate Salary Wars Yet Again

“Cravath To A Million Squillion!” Sorry, but we’ve seen this dance so many times before that, you have to admit, we all know the script by heart.  Cravath (or other blue chip firm [insert here]) bumps up associates’ salaries across the board by an average of...

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RIP Stroock (1876–2023)

Irish BIshop George Berkeley (1685--1753) famously asked, "if a tree falls in the forest and no one is present to hear it, would there be a sound?"  His notion is neither as cutesy nor as vexed as it might strike you, but a snappy and memorable encapsulation in...

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The Economics of Superstars

“Ripped from the headlines,” as the cliche-inclined might say, we have this from The American Lawyer in the past week or so:  Elite Firms Revisit Comp Formulas as Star Talent Has 'Extraordinary Leverage'   Some highlights: According to Kent Zimmerman over at...

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Genesis of “Adam Smith, Esq.” as Our Firm’s Name

Over this past summer, a client, who has become a friend, asked us what the “back story” is behind the name of our firm.  (Presumably he found the name ingenious or bizarre or some combination thereof.)  Be that as it may, after we explained the origin he said he...

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