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New Partners Are Worried About Mental Health and a Looming Recession, Annual Survey Finds
Newly minted partners offered up some usual complaints on this year's New Partners Survey, lamenting unexpectedly low compensation, opaque performance metrics and copious administrative work. But new anxieties have arisen among Big Law's latest partner class, including the threat of a recession and growing concerns about mental health.
For the first time, the survey, done in conjunction with our ALM sibling The American Lawyer and ALM Intelligence, included two questions focused on mental health. Many survey respondents — lawyers who made partner between 2016 and 2019 — reported feeling burnt out. When asked how mental health can be improved in the legal profession, several new partners took aim at the billable hour.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.