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04/18/06

West Virginia's law school woes

West Virginia's Marshall University is planning the launch of a new law school. Experts predict this could be a bad move considering that the U.S. News & World Report's ranking for West Virginia University's law school has been consistently slipping.

Previously in the U.S. News & World Report's second tier of law schools, WVU's law school fell into the third tier in the 1990s. Since then, it has yet to rise above the forth tier due to the difficulty its graduates often face in finding post-graduate employment. Market analysts forecast that adding a new law school in West Virginia could further burden the job market.

A focus on raising the standard of education and limiting class size could be a recipe for success at WVU.

Growing pains for Pillsbury Winthrop and Shaw Pittman merger
The year-old Pillsbury Winthrop and Shaw Pittman merger is facing troubles while still in its infancy. The sacrifices made by both sides in order to hammer out the deal seem to be too costly for the new firm.

The past year saw approximately 100 lawyers leave the firm, as well as the closing of its 26 year-old Connecticut office. Many senior partners have already jumped ship while others are being compensated on a salary-equity basis. Both profits per partner and revenue per lawyer have seen a downslide. Mary Cranston, chairwoman of the firm, is to step down shortly.

On a more positive note, billable hours showed upward momentum in the last half of 2005.

Passing the reigns
Creating a second generation of leadership is necessary for a firms' survival beyond the life of its founders. This is especially true for smaller firms.

A case in point is Greene Radovsky Maloney & Share, a firm that has grown slowly but steadily since the 1980s. With all of the firm's present leaders over 50 years old, it has become imperative to determine who will head the firm in the future.

James Fotenos, the managing partner since January, joined six years ago and is actively planning on hiring lateral partners and senior associates to beef up the ranks of partners aged 30-40.

COOL THREAD OF THE DAY
Here is a new feature we are trying on the newsletters. Maybe it will become a permanent feature. Maybe it will suck eggs. Who knows?

BullRunner: Listen Up! My boss and another equity shareholder confronted me about my interviewing with other firms. They knew who and when and where. I thought I was going to get fired. I got a big time raise. Life's weird sometimes, isn't it?

johndoe1: I wish that happened to me. My partners know that I am interviewing at other firms, so they have decided to punish me by killing me with work.

Cfreedom: Not to burst your bubble, but more than likely you will be let go before you see most of that money. I've seen it happen many times before- be careful.

Fish_nuts: Look out, Bull! They'll give you a raise then fire you for being too expensive!!

BullRunner: I hope you're wrong. I just got a few more assignments, so unless they are yanking my chain, I don't see it happening. If I am fired, I will say that you and Fish_Nuts jinxed me!

Marshall University

    


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