Collateral Damage: The Venture Capital Outlook and Potential
November 01, 2003
Joseph Schumpeter, in a celebrated phrase, noted that capitalism depends, for its foundation and longevity, on the "animal spirits" of the entrepreneurial class in a given region. Absent the turbo charge which the entrepreneurial culture has in the past projected into the U.S. economy, we in this country are in for an indefinite slide to economic stagnation. The national balance sheet is alarming, in the vicinity of insolvency; our manufactures are increasingly non-competitive; our labor force is displacing itself in favor of, eg, China, our currency is depreciating. I often use hypothetical benchmarks called (by me) the Fidelity Index ' an assumed list of factors professional investors are wont to use when rating and distinguishing between the debt of a AAA national credit and a Third World obligor state. Absent robust growth, look at our score card on the Index ' increasing debt as a percentage of GDP and GNP; balance sheet insolvency (in legal terms, insolvency 'in the bankruptcy sense'); extraordinary spending in the military sector growing rich/poor disparity; continuing barriers to women's rights; environmental indifference; wide spread tax evasion; attempts by both the Left and Right to politicize the judiciary; elections for sale; tainted election procedures; a state highly dependent on imported capital to recycle its debt.
The Hedge Fund Probes
November 01, 2003
On Sept. 3, New York State Attorney General Eliot Spitzer announced a $40 million settlement with Canary Capital Partners LLC (a multimillion-dollar hedge fund), Canary Investment Management LLC, Canary Capital Partners Ltd. and the managing principal, Edward Stern, for fraudulent trading of mutual fund shares. Because of suggestions that such schemes are widespread, the news has triggered a flurry of media attention and, more notably, significant regulatory inquiries, criminal probes and private class actions.
Court Rulings on Industry Attorney Fees
November 01, 2003
Depending on the circumstances and the law, parties on either side of an entertainment suit may ask a court for an award of attorney fees. Following are court rulings from recent months that deal with this and related concerns. In future issues, <i>Entertainment Law & Finance</i> will report on such relevant rulings in Attorney-Fee Updates.
In The Marketplace
November 01, 2003
Highlights of the latest equipment leasing cases from across the country.
The Legal Marketplace Branding Roundtable
November 01, 2003
Branding: Is it the legal marketplace buzzword for the twenty-first century or is there really something to all of this? On October 19th Law Journal Newsletters Marketing The Law Firm hosted a Roundtable in its offices in Philadelphia. We decided to give branding its due by bringing together a panel of experts: Burkey Belser is President and Creative Director of Greenfield Belser Ltd. with offices in Washington, D.C. and Boston; Dr. Mark Greene is the Managing Director of The Brand Research Company with offices in Washington, D.C. and Boston; Douglas C. Kramer is the Chief Marketing Officer of Drinker Biddle & Reath LLP, Philadelphia; and Edward M. Schechter is the Chief Marketing Officer of Duane Morris LLP, Philadelphia.
Branding: Enhancing Successful Legal Marketing
November 01, 2003
The efficacy of branding law firms has been a topic of considerable debate. At root, the discussion lays bare an interesting and fundamental question ' are law firms really something greater than the sum of their parts? On one level, any organization that isn't completely dysfunctional adds something to the individuals of which it is comprised. Getting from that simple human statement to branding, however, requires buy-in to another, related concept.
On the Job: Politics As Usual
November 01, 2003
Of the many skills useful to law firm marketing professionals, the one that we can learn best from our attorneys is the political art. Fact is, even the most adept marketer will find it difficult to develop traction for marketing programs at his or her firm without using a heaping helping of political acumen to build consensus and boost allegiance.
