Responding to Client Calls for Value
September 25, 2009
Over the past year, market dynamics have aligned, creating an opportunity to transform services provided by law firms in order to better meet or exceed client demands.
Billing and Collections
September 25, 2009
Opportunities exist in the back office for law firms to reduce administrative expenses, improve cash management, and increase staff performance to optimize and deliver exceptional customer service. Trends suggest that by focusing on the billing and collections function, a firm may find success in achieving these objectives.
What's Your Practice Worth?
September 25, 2009
Law firms, because of caseload analysis and the project-oriented nature of their work, are notoriously hard to value, even more so than accounting firms and other professional service industries where there is an established schedule of work for at least a 12-month period.
OPEB, COLI and Post-Retiree Needs
August 28, 2009
At the same time steps are being instituted to curtail COLI, there is an ever-increasing need to fund for employee medical care and post-retirement medical expenses. The use of COLI and the new Health Savings Accounts ("HSA") can provide a robust funding vehicle.
Recognizing Origination
August 28, 2009
According to the author: "While a good system and good decisions require that origination be recognized and rewarded, it has not been my experience that a change in compensation system will make rainmakers out of service partners."
Gaining Confidence in Alternative Billing
August 27, 2009
Firms that model matter planning scenarios provide their partners and business development staff with the crucial ability to gauge up front how different approaches to pricing and staffing will affect profitability. Modeling allows firms to make adjustments before making their bid ' and therefore price alternative billing arrangements with confidence.
Proposed Changes to Disclosure Rules
August 25, 2009
On July 10, 2009, the Securities and Exchange Commission (SEC) released its proposals for a number of changes to the compensation disclosure and proxy rules. Many of the proposed changes do not seem dramatic at first glance, but they could lead to surprising results.
Where's the Door?
August 25, 2009
A retail tenant negotiating a new lease should always consider its alternatives for exiting from the lease relationship in the event that circumstances change in the future.
The Impact of the Credit Crisis on DIP Financing
August 24, 2009
Prior to the global credit pandemic, a company in default or that faced a near-term covenant breach could either obtain relief through waivers and amendments, or refinancings. As the availability of credit shrank, the latter choice was no longer a viable solution. Moreover, a by-product of the frozen credit markets was the unexpected contraction of available debtor-in-possession financing (DIP financing).
