Categories
Firm Culture

Lamenting Never Having Found the Legal Dream Team

You may have heard the saying that ‘If you owe a $100,000 to the Bank, you have a problem; but if you owe $100,000,000 to the Bank, the Bank has a problem.’ 

The first time that I saw this principle in action was in the case of a rather large company that became insolvent years ago. This company owed so much money and there was so little chance of any of it being recovered, that the Bank could not be bothered to spend the money required to shut it down, and no other creditor thought that it was worth their while to drive it into bankruptcy. So, the insolvent company kept sputtering along for quite a while.

Categories
Firm Culture

Of Sisyphus and Speakerphones

When I started out in the legal profession many years ago, becoming a Partner at a law firm was the dream of every new lawyer.  At the firm where I articled in 1979, each new Partner received two gifts from the firm upon being admitted to partnership.  The first was a gold sculpture of Sisyphus, pushing the boulder up the hill.  The second was a speakerphone, which at the time was new and exciting technology. 

Categories
Law Firm Management

What Have You Done For Me Lately?

In the summer of 1976, I worked for the largest law firm in Montreal, which was Ogilvy, Cope, Porteous, Montgomery, Renault, Clark & Kirkpatrick, as a student doing research.  You likely do not know that name, but you may recognize the name of its successors Ogilvy, Renault and Norton Rose.