by Bruce | September 6, 2010 | Articles, Compensation, Finance, Innovative Managing Partners, Leadership, Strategy
A couple of weeks ago the always perspicacious and often contrarian Alex Novarese of LegalWeek used the occasion of his regular column to opine “Not so demanding–clients aren’t pushing the legal industry forward.” This was swiftly followed by...
by Bruce | July 7, 2010 | Articles, Compensation, Finance, Globalization, Leadership, Practice Group Management, Strategy
[Linklaters Managing Partner Simon] Davies said the firm was focused on overall profitability rather than its revenue, which has suffered due to the deflated M&A market with about 40 per cent of income generated by the corporate department. “Our...
by Bruce | May 18, 2010 | Articles, Compensation, Finance
Whatever your views might be on the intrinsic validity or durability of the billable hour, timekeeping is still fundamental to most firms’ accounting and compensation systems, so it remains a topic of “evergreen” interest. Adam Smith, Esq. has posted...
by Bruce | May 13, 2010 | Articles, Compensation, Finance, Leadership
Orrick announced on May 12 that “it will no longer use or report, internally or publicly, the metric of Profit Per Equity Partner.” Please join me in prayer, dear congregants, that this will inaugurate a trend. I’ll explain in a moment, but first,...
by Bruce | March 19, 2010 | Articles, Compensation, Finance, Globalization, Leadership, Partnership Structures, Strategy
A few days ago the juxtaposition of two articles, one in The Wall Street Journal and the other in The Times (UK), struck me as too rich not to point out. The WSJ wrote, in “Gap Widens Between Tech Richest and the Rest,” that: A handful of cash-rich...
by Bruce | February 23, 2010 | Articles, Compensation, Finance, Leadership, Strategy
Earnings Season is now in full throat, and we’re beginning to see a remarkably consistent pattern emerge: Revenues essentially flat to down 10% Profits flat to slightly down-but PPP flat or even up a bit I generalize, of course. But here is some of the evidence...
