by Bruce | July 20, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Practice Group Management, Strategy
"Equilibrium" is a term that has special meaning in economics, although its definition can seem somewhat tautological: It’s the state of affairs where there is no impetus or force for change. The textbook example is where the price in a...
by Bruce | July 17, 2005 | Articles, Strategy
In more evidence of what it’s nice to have more evidence of, The Legal Intelligencer reports that the marketplace for lateral moves is twice as active in Philadelphia so far this year vs. last year. Various hypotheses are trotted out, from headhunters and firm...
by Bruce | July 15, 2005 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
Aren’t you relieved that you don’t have wolfpacks of Wall Street analysts and the multimedia, 24/7 business press breathing down your neck to deliver "the numbers" every quarter? Isn’t it great living in private-firm land and having...
by Bruce | July 12, 2005 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
Dick Tyler, managing partner of CMS Cameron McKenna (with the coolest law-firm URL I’ve yet encountered), sounds a defense of the firm’s reversion from its foray into merit-based partnership compensation to its lockstep roots, combined with an all-equity...
by Bruce | July 11, 2005 | Articles, Finance, Globalization, Leadership, Strategy
A few weeks ago, I posited that Coudert had every appearance of primping itself for a merger. But as the news becomes increasingly grim, disintegration seems ever more likely. What’s left of value? Basically, New York. Poignant that The...
by Bruce | July 11, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures
“As a profession, if we are to be taken seriously, we need to move to a sensible reporting regime that is based on real figures, and not on those stage statistics that appear.” The words of an impractical academic? A frustrated journalist...