Lateral Partner Recruiting Effective Use Of Search Professionals
Cravath, Swaine & Moore, one of New York's elite law firms, recently hired its first lateral partner in over 60 years. While an exception at Cravath, hiring lateral partners has become an indispensable strategy for law firms in achieving important business objectives and in thriving in hotly competitive markets.
Men Report Changed Attitudes Toward Work And Life
Last month, Part One revealed some of the significant findings of a study released in October 2004 titled "Generation & Gender in the Workplace." The study documents many things that change the equation regarding workplace attitudes. It was conducted by the Families and Work Institute and sponsored and funded by the American Business Collaboration (ABC), a group of eight major businesses, including two accounting/consulting firms, that believe collaboration can accomplish more than working alone. In Part Two, we present results on ambition and taking on responsibility ' at work and at home.
Need Partners Who Can Effectively Manage Your Firm?
As I work with partners in law firms throughout the country, I continue to be surprised at how little, if any, formal training they have had in the business of law ' leadership, management, profitability, and business development. <br>Lawyers are largely extremely bright and talented people. Most, however, do not have MBAs, did not study business in college and do not devote sufficient non-billable time each year to ongoing leadership and management training courses.
Courthouse Steps
Recently filed cases in entertainment law, straight from the steps of the Los Angeles Superior Court.
Taxation Committee Report JCS-02-05: A Closer Look
The Congressional tax change proposal for owners of LLPs, LLCs and S-corporations would fill only a small part ' about 1.5% ' of the projected Social Security funding gap; but the proposal looms much larger when compared with other elements of the Joint Committee's overall tax-revision package
Committee Aims To Standardize Pass-Through Taxation
If an influential congressional committee has its way, some professionals and many small business owners could be forced to dig into their own pockets to help bridge the projected $3.75 trillion funding gap for Social Security. <br>At issue is the sticky subject of limited liability companies, limited liability partnerships and so-called "S" corporations, and the manner in which participants in those businesses pay their Social Security and medical insurance employment taxes.
Surviving A Malpractice Fiasco: 10 Views
Recently I asked members of <i>A&FP</i>'s Editorial Board and several new contributors for their thoughts on how a law firm might best deal with the financial blow of an unusually large settlement or penalty assessed against the firm. Last month, in Part One, we got our roundtable discussants' views on how to keep a firm from crumbling immediately after a malpractice disaster. Concluding the discussion, here are their views on professional liability insurance.
Basics Revisited: Reducing Law Firm Overhead Costs
A law firm management's primary focus, like most professional service firms, is new business, billing a high percentage of partners' and associates' time and, of course, collecting a high percentage of billings. Under pressure to increase revenues and grow the bottom line, executives often overlook smaller firm overheads such as office supplies and related items, printing, stationery, overnight delivery, telecom and copiers.
