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 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, 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...
by Bruce | July 7, 2005 | Articles, Cultural Considerations, Finance, Knowledge Management, Practice Group Management, Strategy, Technology strategy
A fellow who does internal blogging for a Magic Circle firm (I’m not at liberty to say which one), and who is working on a Ph.D. in knowledge management, just asked me these questions via email, and I thought the subject matter would actually be of interest to...
by Bruce | July 6, 2005 | Articles, Cultural Considerations, Finance, Globalization, Leadership, Strategy
I want to show you another view of the AmLaw 100, this ranked by "Revenue/Lawyer," a trivially simple calculation to perform, but which reveals a wealth of insight. Some of the results are obvious—our friends at 52nd and Sixth have almost lapped...