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Wage Growth Is Dependent on Revenue/Profit Growth
The National Law Journal 2010 Law Firm Billing Survey reports a 2.7% increase in average firm-wide billing rates over 2009 in the 250 largest U.S. law firms. This is a significant departure from larger annual, pre-recession increases. Nevertheless, it is roughly consistent with inflation, which may offer some measure of solace.
If the slowdown in annual rate increases marks a turning point in the pricing profile of the legal profession, it could lead to some serious wage growth challenges for law firms. Wage growth is dependent on both per-timekeeper revenue and profit growth.
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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.
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.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.