Tag Archives: Partners

2010 Year End Report

Our long held view that BigLaw is among the most conservatively run and change resistant industries on the planet seems understated in light of the tornedos that we’ve been experiencing of late. That said, 2010 served to raise awareness of issues critical to our long term viability such as globalization, diversification of practices as well as personnel, alternative billing and work-life balance and it appears that by and large, while still far from healthy, BigLaw is a better place to live and work as we enter 2011 than it was a year ago.

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Third Quarter 2010 Report

Listen carefully and you will hear BigLaw breathing a collective sigh of relief as we continue to distance ourselves from the worst financial crisis since the Great Depression and the ensuing havoc that characterized the legal market of 2009.

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Internal Oversight, the SEC and BigLaw

As the US Army engages in introspection with respect to its internal oversight in the wake of the Fort Hood massacre and the SEC does the same after the Madoff disaster, the government is clearly announcing that it will require no less of private sector supervisors than it will of itself. In a recent example, the SEC is compelling the former general counsel and CEO of San Francisco investment bank Merriman Curhan Ford to pay for its failure to properly supervise David “Scott” Cacchione, who pleaded guilty to fraud in March for emailing customer accounts to William “Boots” Del Biaggio III in connection with a scheme to scam banks out of $50 million worth of loans: “When you find major frauds at a broker dealer like this, you’re going to naturally look at ‘Where is the supervision?'” said Michael Dicke, the enforcement director of the San Francisco office.

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