Make More Rain : leverage, profitability

The Only Profit Driver

RussHaskin — Fri, 12 Feb 2010 13:00:00 GMT

I have spent the better half of the last decade working with firms on the drivers of profitability. If you are knowledgeable on the topic these drivers have many acronyms (e.g. RULES) but for simplicity sake I will list the generally accepted ones below...(read more)

Leverage - The 2009 Scenario

MichelleStPierre — Fri, 20 Nov 2009 18:22:00 GMT

Four times per year we host the Redwood Forum, which is a chance for Redwood users to get together online and talk about business intelligence, law firm management and finance, and the role our tools play in that space. The following post is guest authored...(read more)

Putting a Price on Training

MichelleStPierre — Thu, 30 Jul 2009 17:54:00 GMT

I'm sure that many of our readers may disagree with my colleague Brian's statement yesterday that salary is not the only driving factor impacting a young lawyer's decision to join a law firm. I'm not a lawyer, and I didn't go to law school, nor did I carry a huge amount of debt upon my graduation from college, but I was fortunate enough to graduate with an Economics degree and a minor in Finance when the job market was considerably more robust than it is today. I entertained no fewer than six job offers out of college, from Wall Street Investment banks to commercial banks. And it's the absolute truth when I tell you that I took the job with one of the lowest salaries because they offered a perk that no other company came close to matching...

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Is The Worst Behind Us?

BoYancey — Mon, 20 Jul 2009 13:00:00 GMT

Some of the most recent headlines in the legal press have been aimed at the recession's impact on large law firms, and would leave one to believe that the industry is in shambles. Indeed, the world's formerly largest law firm, Clifford Chance, saw its profitability decline by a whopping 37%, while a Top 20 U.S. firm, Morgan Lewis, has just announced that it was cancelling altogether its 2010 summer internship program, after deferring start dates for 2009 hires to October of 2010. Much of the current commentary is focused on whether Morgan Lewis's decision is the first of many, and what that will mean for the industry generally, and current law students (and law schools) specifically.

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