Back in the good old days, I used to bill by the hour, just like every other lawyer. I had a simple retainer agreement with my clients which essentially provided that they agreed to pay my hourly rate for all of the hours that I spent on their matters.
When the work was done, I would send my bill to the client calculated by multiplying the time spent by my hourly rate. Then my client would pay the bill. Life was simple.
People of my vintage remember playing musical chairs at birthday parties, back before the days when money was so plentiful that it seemed to be important to impress the neighbours by hiring clowns and musicians or renting bouncy castles to entertain five-year-olds.
For those of you who did not have the pleasure of being pushed off of a chair by some mean kid who had fifty pounds on you, the idea was that music would be played while the children would circle a number of chairs that was always one fewer than the number of kids marching around them.
“Write what you know.”
Mark Twain
I know absolutely nothing about the collapse of Minden Gross LLP beyond what I have read in the Globe & Mail. However, I did hang around the legal profession for a long time, and I figure that qualifies me to comment.
“I am happy because I’m grateful. I choose to be grateful. That gratitude allows me to be happy.”
~ Will Arnett
The other day I received a private message from a lawyer who I have never met in person. She expressed her appreciation for my contributions to the profession in my retirement and did so in a manner that was warm and sincere. I practically blushed when I read it. She made my day.
I came across a lawyer the other day who makes mistakes in his communications with clients and the other side. None of the errors will likely land him in too much trouble. They may even be excusable based on the theory that spending too much time trying to be ‘perfect’ is unhealthy and expensive for clients who are being billed based on the amount of time spent on the matter. But they are mistakes nonetheless, and they could all be caught with a bit more thought and proof-reading.
I believe that lawyers should not compete based on price. I tell this to my mentees, and sometimes the response is, “that is easy for you to say from a cruise ship in the Pacific. I’m struggling to get files in the door and pay my rent.”
I also think that new lawyers should avoid practicing in areas that have become commodities and are particularly fee sensitive, such as residential real estate. My young friends tell me that they have to get cash in the door and that doing some real estate files is the best way to do it.
“I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.”
Steve Martin
I like money as much as the next guy. Actually, I like money much more than I like the next guy.
They say that those who do not learn from history are doomed to repeat it.
When I started practicing law in 1981, I went to the office six days a week. Sometimes six and a half. I never used my computer at the office, mainly because I did not have one. Nor did anyone else.
I like eating out, but I don’t always like what is on the menu. I have been known to explain to the server that I consider a menu to be merely an indication of which ingredients the Chef has in the kitchen, together with samples of some of the ways that they can be assembled. With that information, I often request that they be assembled differently. Lose the beets from the beet salad; lose the feta cheese and replace it with goat cheese; add the spicy pecans from another salad, and so on.
I like to eat a bespoke lunch, and I expect that it may cost me a bespoke price.
I stopped reading the news this week. It has been affecting my mental health. No more scrolling from CNN to Associated Press to Apple News to Google News to National Post, to Jerusalem Post. I am even trying to scroll past posts on Facebook and LinkedIn which address hate around the world.