On my drive to the office yesterday, I learned that the Chicago Blackhawks had fired Joel Quenneville, their head coach. Three Stanley Cups, second winningest among 38 head coaches since its 1926 founding, best playoff record in club history. Replaced by 33-year-old Jeremy Colliton — former NHL and AHL star…
This last of three posts about a 54-page opinion in which U.S. Bankruptcy Court for the Central District of Illinois Judge Mary Gorman explained her reduction of a nationally prominent law firm’s $1.8 million fee down to $670,000 offers a case study of the billable hour’s perverse incentives. Today I address a case-study-within-a-case-study…
The 54-page opinion in which U.S. Bankruptcy Court for the Central District of Illinois Judge Mary Gorman explained her reduction of a nationally prominent law firm’s $1.8 million fee down to $670,000 offers a case study of the billable hour’s perverse incentives. Under “General Mistakes and Carelessness”, the Judge detailed…
On July 10, 2018 U.S. Bankruptcy Court for the Central District of Illinois Judge Mary Gorman issued a 54-page opinion explaining why she cut a law firm’s requested total hourly fee of $1.8 million down to an approved total hourly fee of $670,000. Judge Gorman was responsible to approve or…
With this post I conclude a 4-part analysis of positive alternatives to the status quo in legal services presented by the Big 4 accounting firms to U.S. businesses. In Part 1 I addressed survey results from law firms in which 69% of responding law firm leaders reported that “partners [in…
Earlier this month Lucy Endel Bassli wrote an article entitled: “Big 4 Are Not a Threat. They are a Reality”. In the post immediately preceding I described Ms. Bassli’s experience and credentials as former Assistant General Counsel of Microsoft and as founder of a new law firm and consultancy focused…
To summarize some of the positive alternatives that the Big 4 accounting firms offer U.S. business owners and executives in legal services, I’ve chosen the writings of a trusted guide — Lucy Endel Bassli. In these writings she’s described how the Big 4 accounting firms offer choices to businesses in…
For business owners and executives in the U.S. who contend with increasing legal and regulatory demands — there’s good news. Through the Big 4 accounting firms you might find more efficient — and for some jobs more highly skilled — choices for the conduct of your company’s legal affairs. ……
In a recent blog post Ron Friedmann responded to a question posed in a legal technology publication: “‘How do you envision the legal team of the future changing?’ The thesis of my answer: multidisciplinary teams …. ” … The complexity of the modern world makes many problems multifaceted. How many…
This past Monday (July 2) Mark A. Cohen wrote the following in Forbes online: “Law is staging its own version of ‘every kid gets a trophy’ … Every week, all over the globe, the legal industry throws gala dinners to celebrate its ‘innovators,’ ‘visionaries,’ and ‘pioneers.’ These gatherings afford attendees…