Comments on: The future of law firm branding http://www.law21.ca/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.law21.ca%2F2008%2F10%2F03%2Fthe-future-of-law-firm-branding%2F%23comment-&seed_title=The+future+of+law+firm+branding Dispatches from a legal profession on the brink Mon, 16 Jan 2012 15:14:50 +0000 hourly 1 By: Jason http://www.law21.ca/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.law21.ca%2F2008%2F10%2F03%2Fthe-future-of-law-firm-branding%2F%23comment-217&seed_title=The+future+of+law+firm+branding/comment-page-1/#comment-217 Jason Fri, 03 Oct 2008 16:59:49 +0000 http://jordanfurlong.wordpress.com/?p=726#comment-217 The chain of bankruptcies this year has caused some banking panic and might cause a long economic recession. Many of the recessions in the United States were caused by banking panics. nomedals.blogspot.com The chain of bankruptcies this year has caused some banking panic and might cause a long economic recession. Many of the recessions in the United States were caused by banking panics. nomedals.blogspot.com

]]> By: Vickie http://www.law21.ca/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.law21.ca%2F2008%2F10%2F03%2Fthe-future-of-law-firm-branding%2F%23comment-216&seed_title=The+future+of+law+firm+branding/comment-page-1/#comment-216 Vickie Fri, 03 Oct 2008 16:02:43 +0000 http://jordanfurlong.wordpress.com/?p=726#comment-216 Great post. I'll be publishing a piece about this in The Complete Lawyer soon. My husband was with Heller for 34 years (gasp!) He left in February when potential merger was just a concept to anyone but those inside management. Dominoes from bird's eye view: (1) sending $$ to the top & squeezing them from the middle; (2) unhappy middle; (3) fear that merger will cause H to dump certain practice groups; (4) resumes hit the street; (5) head-hunters pick up scent of carrion; (6) people who never thought they'd leave, think of leaving; (7) suitor-law firms treat offerees with more respect than they've been treated for years; (8) when I say "middle" I mean WORKERS, not they who make the rain - so middle includes nationally known names; (9) potential merger partners (this is rank speculation) realize the firm is teetering and talks fail; (10) like the Bush administration, statements that firm will fail (economy will fail) if merger/bailout doesn't come through, both cause and effect of second merger attempt dying; (11) the "big boys and girls" (Heller: the IP Group) leaves . . . . . start to finish? 6 months? one year? A truly great law firm dies. What to do? 1. VALUE your human capital 2. remember a law firm is supposed to be a collective "for better or worse" venture in which the firm sees its members through bad times so that it can benefit from good times 3. don't let David Lat anywhere NEAR your merger plans but don't leave the partners in the dark 4. remember the rainmakers cannot do all of the work that they generate - SOMEONE has to be WORKING (for the rainmaker, sure it's the money, but at least one rainmaker Heller partner has been heard to say that if he knew it were that bad, he would have been willing to re-invest the extra money coming his way in the "middle" 5. when the center can't hold, it's over; you can't wait for a crisis 6. how about hiring people who have been trained to manage to manage law firms of this size -- I know, I know, they have business managers but the decisions are in the hands of lawyers who everyone knows cannot do the math. Great post. I’ll be publishing a piece about this in The Complete Lawyer soon. My husband was with Heller for 34 years (gasp!) He left in February when potential merger was just a concept to anyone but those inside management. Dominoes from bird’s eye view: (1) sending $$ to the top & squeezing them from the middle; (2) unhappy middle; (3) fear that merger will cause H to dump certain practice groups; (4) resumes hit the street; (5) head-hunters pick up scent of carrion; (6) people who never thought they’d leave, think of leaving; (7) suitor-law firms treat offerees with more respect than they’ve been treated for years; (8) when I say “middle” I mean WORKERS, not they who make the rain – so middle includes nationally known names; (9) potential merger partners (this is rank speculation) realize the firm is teetering and talks fail; (10) like the Bush administration, statements that firm will fail (economy will fail) if merger/bailout doesn’t come through, both cause and effect of second merger attempt dying; (11) the “big boys and girls” (Heller: the IP Group) leaves . . . . . start to finish? 6 months? one year? A truly great law firm dies.

What to do?

1. VALUE your human capital
2. remember a law firm is supposed to be a collective “for better or worse” venture in which the firm sees its members through bad times so that it can benefit from good times
3. don’t let David Lat anywhere NEAR your merger plans but
don’t leave the partners in the dark
4. remember the rainmakers cannot do all of the work that they generate – SOMEONE has to be WORKING (for the rainmaker, sure it’s the money, but at least one rainmaker Heller partner has been heard to say that if he knew it were that bad, he would have been willing to re-invest the extra money coming his way in the “middle”
5. when the center can’t hold, it’s over; you can’t wait for a crisis
6. how about hiring people who have been trained to manage to manage law firms of this size — I know, I know, they have business managers but the decisions are in the hands of lawyers who everyone knows cannot do the math.

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