The Minority Law Journal, an American Legal Media (law.com, AmLaw, etc.) publication, has issued its annual Diversity Scorecard, which is an attempt to measure and rank Biglaw’s diversity efforts. This posting is not an endorsement of the survey or its methodology. As with any survey, you should review the methodology and make your own critical evaluation as to […]
Minority Law Journal Issues Its 2009 Diversity Scorecard
Mid-Sized Firms In Mid-Sized Cities Faring Better In This Economy
The National Law Journal published a piece entitled “Midsize Midwest Firms Steady In a Storm.” It makes the point that these types of firms [which don’t generally come to OCIP] have, by and large, not felt the impact of the economy anywhere near as badly as large firms in large cities, which tend to be more dependent […]
What Law Firm Q1 2009 Numbers Reveal
Great article in Thursday’s Recorder (sorry to be only catching up to it now) about trends in the demand for legal services. Comparing the first quarter of 2009 to the first quarter of 2008, it appears the demand for legal services dropped much more in NY and LA (9.5% and 8% respectively) than it did in SF (which, granted […]
Legal Market Expert Predicts Smaller Summer Programs and Opportunities for Smaller Firms
In an interview in the Legal Intelligencer (which we found via law.com), consultant Frank D’Amore made a number of predictions about the future of law firm recruiting. You should read the whole thing, but among the predictions were: 1) Smaller law firms being more competitive with larger ones when it comes to recruiting top law […]
Certain Pockets of Real Estate Practice Get A Boost from the ‘Stimulus’ Package
Yesterday’s New York Lawyer reported on some firms actually adding partners to their real estate practices. While real estate practices are generally slow, there are some areas where growth is expected. They include: public/private development projects (e.g., roads, buildings, remodeling), construction projects for local governments, and representing lenders and developers in loan restructurings and foreclosures.
Economy Forces Firms To Reconsider Its Pay Structure
Bloomberg reports on firm efforts to reevaluate their pay structures as a response to current economic conditions.
Non-Equity Partner Leverage
Another post for those of you considering Big Law. Bruce MacEwen of the Adam Smith, Esq. blog weighs in on the subject of leverage by focussing on Big Law’s non-equity partner ranks. His post was prompted, in part, by the one I linked to in my previous post on law firm leverage. See the last paragraph of […]
‘Leverage’ and Law Firm Lay Offs
If you are considering Big Law at all, here is a must-read post on “Marginal Revolution,” the blog co-authored by economics professor, Tyler Cowen, which helps explain the reason for the unprecedented number of Big Law firm layoffs. Leverage is the ratio between (full equity) partners and associates (and non equity partners). The higher the number of associates a firm […]
“Firms Are Businesses”
Great post on the Adam Smith, Esq. blog (which is included in our blog roll) on Latham’s recent news. You should read the whole thing, but here is a key quote [after noting that Latham is “well managed” and that it’s severance policy is double the going rate]: “Finally, this morning’s news out of Latham […]
How L.A. Firms Are Weathering The Economy
A recent Recorder article (reprinted on law.com) recounts how LA Firms are doing in the downturn.