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To the surprise of many, the new tax policy included changes to the carried interest provision. Under the new policy, carried interest now has a three-year holding period. The policy has significant implications for commercial real estate investors, who will need to make immediate adjustments to comply with the new provision. Reporters from this newsletter’s ALM sibling Globest.com sat down with Phil Jelsma, a partner and chair of the tax practice team at San Diego-based commercial real estate law firm Crosbie Gliner Schiffman Southard & Swanson LLP, to talk about the changes to carried interest, how this will impact commercial real estate investment and what investors should do now to comply.
By Nathan Curtis
The Data Explosion vs. Recovery Model Stagnation
Firms are struggling with a legacy practice of writing off litigation support/e-discovery and related costs but have been challenged to identify and implement recovery models or managed services models that are both acceptable to the firm and to their clients. On top of all of this, many firms simply fail to dispose of the data at the matter closing and costs continue to accumulate year over year. Mattern has launched the first ever e-Discovery and Litigation Support Cost Recovery Survey to gather that needed data to help drive firms’ better business decisions.
By Silvia Coulter
There are a few things about being an effective leader that books and professors don’t seem to directly address. Here are some tips to help partners who lead operational teams, offices, practices, departments, or the firm itself, to implement for leadership impact.
By Marla Grant and Yuliya LaRoe
Why EQ Leads to Even Better Business Results
It is not uncommon for law firms to face negative business outcomes caused by the behavior of a star rainmaker who is unaware of the impact that they have on others. And that’s what emotional intelligence (EQ) is about and why it’s so important to lead to better business results. What can law firms do to help their star partners increase their emotional intelligence to avoid potentially disastrous business outcomes for themselves and their firms?
By Dylan Jackson
While the last decade has brought a revolution of global law firms employing thousands of attorneys and an army of professional staff — pricing executives, marketers and legal operation specialists, among many others — many professional law firm staff tell stories of a two-tiered system that minimizes their role and contributions. Observers said the caste system is a long-standing cultural mindset that stems from an age when firms were smaller and more informal, without hundreds of employees.