News Briefs
August 10, 2004
Highlights of the latest franchising news from around the country.
An Examination of the Hotel Industry and Multi-Branded Franchisors
August 10, 2004
Franchises dominate such industries as fast food, automobile, rental car, and cosmetics, but perhaps no business model is as dependent on franchising as the hotel industry. As a result, the hotel industry presents an interesting study on how multi-branded franchisors deal with unique issues affecting the relationships between the franchisor and its franchisee, suppliers and vendors, and the traveling public.
Financial Analysis: Critical to Sound Strategy
August 02, 2004
With the legal landscape in constant flux ' including numerous high- and low- profile mergers, dissolutions and consolidations ' leaders of most law firms have been forced, willingly or no, to engage in some serious strategic thinking about their firm's future. For many firms, however, "thinking strategically" has failed to produce quality strategy.
Health Savings Accounts
August 02, 2004
Starting in 2004, law firms have another option in attempting to mitigate rising health insurance costs. Recently enacted Health Savings Accounts (HSAs) offer law firms and their employees a tax favored vehicle to pay for medical expenses.
Partner Compensation: Striking a Balance
August 02, 2004
Partner compensation is invariably the topic of most interest in every law firm. It is also a topic that involves the most fervent debate and encompasses the most varied points of view.
Basics Revisited: Evaluating The Profitability Of New Work
August 02, 2004
Your 50-attorney firm has been operating slightly under capacity; there is not enough work to keep all attorneys billing their standard hours. A prospect would like to engage the firm to handle all its litigation, which would mean a substantial number of guaranteed billable hours. Good news, right? This company, however, wants to negotiate a discounted rate and also wants specific partners to handle the work. Your initial instinct tells you to take on the work to keep the firm at maximum capacity. But will it be profitable in the long run? Should you take on the work? How can you decide?
The SEC Expands and Accelerates Form 8-K Reporting
July 29, 2004
On March 11, 2004, the Securities and Exchange Commission (SEC) promulgated final rules that significantly alter the reporting requirements for public companies on Form 8-K. These final rules put into place a series of reforms first proposed in June 2002, and which were given additional momentum by Section 409 of the Sarbanes-Oxley Act of 2002 (SOX), which mandated that the SEC promulgate rules to require disclosure of additional information regarding material changes in the financial condition or operations of an issuer on a "rapid and current basis."
Practice Groups Lead To Better Management
July 27, 2004
The evolution of law firm management has been slow and deliberate, usually built around established business management models. For most firms, the model is flat: A few senior-level administrative managers work closely with the partnership's executive management and make most of the decisions. But recently, several firms have adopted a new management model: practice group administrators.
