Categories
The Practice of Law

Reflections on M&A, Musical Chairs, and Mental Health

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.

Categories
Law Firm Management

Another Law Firm Just Went Down

“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.

Categories
The Mentality and Attitudes of Lawyers

Gratitude and The Appreciation Deficit

“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.

Categories
The Practice of Law

Be Wrong, Confidently!

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.

Categories
Law Students and Young Lawyers

Living in Different Worlds

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.

Categories
Mental Health and Work/Life Balance

Money, Money, Money

“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.  

Categories
Legal Tech

My WFH (or WTF) Journey

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.

Categories
People I Met Practicing Law

Law Firm Primer For Articling Students and New Associates – Part Eight: The Chief Marketing Officer

Those of you who have been following this series know that I said that Part Seven was the final article in the series. It turns out that I lied.

The purpose of the series is to set out the questions which Articling Students and new Associates should figure out about their firms when deciding whether to stay there over the long-term.

This time it is about the Chief Marketing Officer (“CMO”).

Categories
Murray The Wannabe Feminist

Feminists – Honesty Is Not Always The Best Policy

I was speaking to a newbie lawyer the other day.  I am going to call her Sue, which is definitely not her real name.

Sue is an intelligent young woman, but like many of us when we are starting out, is perhaps just a tiny bit naïve.

Sue told me that she was applying to a firm in a community where she lives in eastern Canada. To prepare for the interview, she checked out the firm’s website. She was delighted to learn that the firm prides itself on recognizing the importance of work life balance.

Categories
Retirement

Reap What You Sow

Hey law firms!  Have you given much thought to your partners approaching retirement, and calculated what their retirement may cost you?