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Part 1 of this series set the stage for the perfect economic storm, covering the forces pushing change in the legal market. Part 2 covers the first pain felt in the legal market and how firms have reacted.

Along Comes 2008
Even before the Lehman collapse, clients had already started sending signals

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Recently I came to the conclusion that the proper way to make a bold statement without having to truly defend it is by adding a question mark to the end of it. That way you can say you are only implying a possible outcome and not actually making a statement. This blog post, in contrast,

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Citi posted its Third Quarter Report recently, noting the growth in collections and the slowing of demand. Let’s tackle the headline issues first, then peel back deeper in to more interesting trends noted in the report.
Collections up with demand down means firms are emptying the money pipe faster, while less money is coming in

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Greg and Jordan make good points in their comments to my post on the shrinking bet-the-farm (BTF) segment of legal services. These beg the question: what exactly is bet-the-farm work in the legal market today? Traditionally this would have been work where the law firm names the rates and puts in whatever amount of hours

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Last week I had the fortune of attending two valuable conferences – the Ark-Group KM and the COLPM Futures Conferences. Perhaps the greatest value to me was the back-to-back participation I enjoyed. This merging of ideas and forums lead me to a new epiphany – or more accurately, an expanded epiphany.
At the Ark-Group KM

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Recently Ron Friedmann posted an intriguing idea on his blog about having some partner (or lawyer) comp being tied to sales efforts (a.k.a closing on new business). I had the incredible fortune of attending the dinner he referenced and was able to participate in this dialogue.
One might argue all partner comp is tied to

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I was in Nashville last week at the ILTA conference and Alternative Fee Arrangements were all the rage. My good friend Toby Brown, or as I like to call him Reverend Pricing, will be the first to tell you that the greatest, most brilliantly structured AFA does you no good if you can’t control costs.

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