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Management teams should be aware that reductions in workforce ("RIFs"), while seemingly cost-cutting in nature, can actually yield the opposite result, and can cause unintended and costly consequences with respect to a firm's tax-qualified employee benefit plan.
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Former employees of Heller Ehrman sued at least 179 former partners in April, demanding they fork over $32 million for the largest group of creditors in the defunct firm's bankruptcy. This article discusses the suit.
JOHN WAYNE ON BUSINESS DEVELOPMENT CONSULTANTS - That great American philosopher, John Wayne, may have been speaking to his fellow cowboys when he said "Round 'em up and move 'em out", but he very well could have been talking to law marketers. After all, the three components of the cattle business. . . . GET 'EM - Find good cows and bring them back to your corral KEEP 'EM - Take care of the…
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In the context of law firms, strategic planning represents a methodology for developing a shared organizational view of the desired direction for the firm and outlining the process by which the firm will move in that direction. For many firms, movement along the firm's chosen strategy can be intensely challenging, and too often, implementation efforts fail.
TO LAWYERS SWITCHING PRACTICE AREAS - NOT SO FAST! No one has been immune from our sluggish economy. Lawyers are seeing pinkslips and downsizing. It makes sense that lawyers with a healthy survival instinct are switching to bugeoning practice areas like bankruptcy, employment and securities. What is more, attorneys who have experience managing complex cases can translate that skill set to other applications. But does that mean that all your law selling resources should be rerouted…
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Law firms have realized that using technology ' particularly the Internet ' is a powerful tool for creating a more level playing field to enhance their images, expand their visibility in targeted markets and drive business to their firms. However, with so many competing interests for limited marketing dollars, where should you invest your firm's resources to get the most bang for the buck?
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Three stellar contributors join our Board.
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Now that the legal industry is reeling from losses, layoffs and downsizings, lateral hires are being run through an even more stringent gauntlet than ever before. Many firms now want to see business plans from all lateral partner candidates.
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While the macroeconomics is more than a little intimidating, the good news is that researching the economy is not a complicated task. In fact, it can be much more straightforward than internal financial research (covered in the first part of this series) and research on the financial health of companies and industries (covered in the second part of this series). In this, the third and final part in the Researching the Economy series, we focus on a few key sources for macroeconomic information.