TransformingYourCareerTransformingYourself

  39,869.38 USD ▼  -38.62 (-0.097%) today May 16, 4:11 PM EDT  ·  Market Closed Day Week Month Year 5 Year Max 10:00 12:00 2:00 3:30 39,800 39,900 40,000 40,100 Vol

" ...  when clients refuse to follow partners out of the firm ..." - Brad Karp, chair of Paul, Weiss, cites how that can mitigate the risks, ranging from branding to business development, associated with the massive poaching of law-firm stars. This observation by Karp is extracted from the panel's comments at the International Bar Association, May 15, 2024 and published in Law.com .  The panel of leaders focused on internal law-firm strategies to reduce partner flight. Essentially their consensus was this solution: creating a partner culture of belonging, purpose and equality. About the latter, too many junior partners have an identity of being very senior associates.  However, come on, stars come and stars go. Soon enough law firms with war chests/powerhouse brandnames have the financial resources and the prestige to replace them. And the business goes on. Kirkland & Ellis is still doing well after James Sprayregen left for financial services holding firm Hilco Glob

  39,925.99 USD ▲  +17.99 (+0.045%) today May 16, 1:42 PM EDT  ·  Market Open

  As we all know - and as a long-term politico Joe Biden should have had that down cold - public service doesn't pay well. Therefore there is the necessary chase after building wealth on the side.  Book publishing was never the ideal path for that. In the past, even the most successful published authors didn't become financially secure through royalties. To make "real" money they had to go out there and acquire the kind of branding that merited high fees on the speaking/workshop circuit. Of course, a US President who is in office doesn't have the time for that. Currently the book industry is in decline. We are a visual culture. Book authors who do make money are those who are smart enough to hire a skilled promotion team. But even that amount in itself doesn't represent big bucks. They have to supplement the proceeds with lots of singing for their supper doing exclusive speaking engagements and how-tos. No surprise, President Biden's two books didn't e

  40,003.08 USD ▲  +95.08 (+0.24%) today May 16, 12:01 PM EDT  ·  Market Open

" [AI consultant Toby] Brown estimated a conservative 5% reduction in partner hours and a 20% reduction in non-partner hours. That led to a 13% revenue decline and a 7% cut in profit margins." Roy Strom, Bloomberg Law News , May 16, 2024 That's primarily because 47% of the billable hours come from "drafting and review" tasks and AI can have its biggest impact on improving the efficiency of how those are done.  The recommendation is that to remain growing financially law firms should focus on their most successful practices. That will put them in a position of strength to win assignments from their competitors either through enhanced service or lower price - both through AI - because of their powerhouse brandname in those niches.  In a sense some large law firms, ranging from Kirkland & Ellis to Paul, Weiss, are doing just that through their aggressive recruiting to build both domestically and internationally their Private Equity and Merger & Acquisition

  39,908.00 USD ▲  +349.89 (+0.88%) today May 15, 5:06 PM EDT  ·  Market Closed Day Week Month Year 5 Year Max 10:00 12:00 2:00 3:30 39,400 39,700 40,000 Vol

  Market Summary  >  Dow Jones Industrial Average 39,824.05 +265.94  (0.67%) today May 15, 2:21 PM EDT  •  Disclaimer

  The wild west meme is everywhere in entertainment, ranging from television series "Yellowstone" to film "Killers of the Flower Moon." Boomers will recall how the same theme overtook not only the new medium of television in the 1950s but products and services. Even in summer we played in our Davy Crockett fur hat and knee-high boots. Our families vacationed at "ranches." So, how can retail take advantage of the current growing wild-west craze? In this article I published in ST Magazine I get creative in my advice.  In most cases you have only one shot in communications. Jane Genova is a communications coach and content-creator. Complimentary consultation (please text 203-468-8579 or email janegenova374@gmail.com)

  39,754.66 USD ▲  +196.55 (+0.50%) today May 15, 11:02 AM EDT  ·  Market Open

"The lawsuit ['Mobley v Workday Inc.' filed in 2023] claims Workday uses data on a company's existing workforce to 'train' its AI software to screen for the best applicants without accounting for the existing discrimination that it may reflect. Mobley, who is Black, over 40 and has anxiety and depression, accused Workday of race, age and disability discrimination in violation of Title VII of the Civil Rights Act of 1964 and other federal laws." -  Reuters , May 14, 2024 US District Judge Rita Lin conducted a hearing on Workday's request to dismiss the novel proposed class action lawsuit. According to Reuters, she might be leaning to allow the litigation to proceed. If Derek Mobley's contention of discrimination does move along the legal process the door can open to myriad other kinds of lawsuits about the use of AI-enabled tools for screening job applicants as well as those being assessed for promotion, discipline and termination.  One firm in the

  “I am deeply optimistic about our company, and in a world that is so in need of entertainment is a true privilege ... to  run a company that is the embodiment of creative excellence, of great and bold storytelling, of quality, and of innovation.” Bob Iger, quoted by Deadline , May 14, 2024 This was the tone/language Iger used as he returned to the role of in-person pitchperson at the TV Upfronts. That last time he did that was 1994: a very different time in broadcast media.  Iger was after enticing advertising buys on Disney broadcast media. Given, as Deadline points out, linear TV such as Disney's network is in freefall and Disney's streaming hasn't made a profit, that kind of pitch seems cartoonish. So wrong for what was of concern to advertisers as well as other constituencies bearing witness to this misguided sales presentation.  It has been said that essentially Iger is an old-media guy. This pitch confirms the speculation that he can't shake that identity that o

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Sometimes wealth comes indirectly. Law firm Paul, Weiss' approach to enhancing revenues through generative AI is to experiment without attention to the bottom line.  For about 18 months, chronicles Bloomberg Law , Paul, Weiss has been using generative AI legal assistant Harvey. The firm's objective, just like that of marketers using research such as focus groups, is to analyze the lawyer-technology interface. How do those users relate to Harvey, feel about the connection and apply its abilities to operational, strategic and implementation challenges at the firm? So far what Paul, Weiss is discovering is that the significant payoff can be in Harvey's being a collective platform for brainstorming for fresh strategies. Although the practice of law has a reputation for being stodgy innovation is what brings in new business, gets the results clients want and enhances the brand. It is legend, for instance, that Paul, Weiss chair Brad Karp launched the first-ever specialized ESG p

Wealth, or at least making a good living, is the preoccupation. And raw knowledge per se is no longer the ideal platform for acquiring that. Over and over again reputable sources such as The Wall Street Journal have been warning about the risk of investing time, energy, hope and money in post-BA/BS degrees. There might be no bump to earning power + the burden of student debt. That applies even to Master's degrees from prominent institutions of higher education. The most recent study on that comes from the Foundation for Research On Equal Opportunity . It found that only 57% has a positive ROI. Those include law, medicine and dentistry.  Meanwhile the whole continuum of knowledge work is in upheaval. Actually, it's being labeled "The White Collar Recession." It's hard to get in - just read the professional anonymous networks such as Reddit, Fishbowl, Blind and Glassdoor. And once bounced out it is difficult to land comparable work at  comparable compensation. High