I was spending time with some young folks the other night. I heard a phrase which was new to me, but apparently not to the rest of the world. “C’s get degrees” has something to do with prioritizing the enjoyment of life, and physical and mental health, over stressing out to achieve high grades. Are the people who live by this adage low on ambition or high on life? I really don’t know. I suppose that it depends on your perspective.
I have been over-weight for a good long while. My wife, Maureen, is not shallow. She loves me exactly as I am. But she is smart, beautiful and talented, and her marketability far exceeds mine, so why take chances?
For about 15 years, I stopped eating chocolate, cake, pie, muffins, ice-cream, fudge, etc., etc., but I substituted bread, goat cheese, nut butter, and organic honey, and kept gaining weight.
In this Part, I would invite you to live in an imaginary world where you respect and appreciate all of your partners, each of them is a phenomenally talented lawyer, who is also productive, respectful, collaborative, ethical, and has an amazing client base. And they all love you too.
If you are a typical law firm partnership, you will not be content to let things be. No, the firm must grow and increase its profits and the prestige of each of its partners. You need more partners! And to be fair, you don’t want to lose your bright young associates who are chasing the Holy Grail, and you cannot keep all of them satisfied with non-equity partnership gimmicks indefinitely. So, grow you must.
Imagine the following scenario:
Jordan is a third year Associate with a mid-sized firm in Calgary who has a billable hour target that is somewhat reasonable compared to the targets in Big Law. He typically achieves that target and receives a bonus of $18,000. He is also paid 10% of the billed and collected business that he brings in.
Way back before the cell phone, we had a telephone in our reception area for clients to use. At the same time, my doctor had a sign in his reception area advising patients that the doctor’s phone was for his staff’s use and clients could use a payphone in the lobby. The difference? We lawyers had to market ourselves to find clients and then convince them to pay our bills. My doctor worked under a government health care system and did not have to worry about either of those things.
“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.
This is an abridged version of one of my first posts from several years ago.
Supervising lawyers fall into two groups.
When articling students or young lawyers enter a law firm of any size for the first time, they see the carefully cultivated image that the law firm promotes and are often thrilled to be part of a legal fantasy world where every lawyer is dynamic, brilliant, experienced, strategic, and practical.
Over time they get to know the lawyers and other key players, and eventually figure out what is real and what is not.
Before you read this story, I should let you know that this is a sad story which does not end well.
Long ago I had a great professional relationship and friendship with Laurence. I liked Laurence a lot. He was honest and ethical. He cared about his clients, his family, and his relationships. He taught me valuable lessons about dealing with clients and co-workers.
This is a true story, even though it may not sound like one.
Chris was a law partner who joined a new firm. Two of his new partners were named Angela and Martin.
Soon after Chris joined the firm, Angela cancelled out of a promotional ski trip, leaving a gap to be filled. So Martin invited Chris to the event and mentioned that he could use the hotel room that had been reserved for Angela.