Saturday, November 15, 2008

Law Firm Layoff News Gets Tiring

It's official. The New York Times documented the story of recent law firm lay-off news in a November 12th article entitled, "Law Firms Feel Strain of Layoffs and Cutbacks."

While clearly an unfortunate career setback to those partners, associates and support staff affected, we can probably expect to hear similar news from other law firms in the future. Our troubled economic times are certain to get worse before they get better.

The Rainmaking Lady for one will try to assist readers in looking for effective ways to attract new business during this difficult business environment. Change creates opportunity, so let's focus on those marketing techniques that hold the most promise.

Wednesday, November 12, 2008

Twitter Resources for Attorney Marketing

Here are some useful resources for those enterprising attorneys who want to add Twitter to their list of online marketing and business development techniques. We will update this list periodically, so stay tuned!

Lawyers Flock to Twitter for Marketing
Lawyers Weekly USA, November 7, 2008

Beginner's Guide to Using Twitter for Business
Duct Tape Marketing

How to Define Twitter Goals
By Blogger Darren Rouse

Look for me on Twitter @RainmakingLady

Tuesday, November 11, 2008

Law Firm Hiring Slows in 2008

The National Law Journal, an Incisive Media publication, reported yesterday that law firm hiring slowed in 2008 across both partner and associate levels. Full details here.

“The next year will be a challenge, as firms rein in costs and readjust their practice areas to maximize readiness for emerging areas of law that generate revenue," comments Editor in Chief Steven Fromm.

The flip side of law firm lay-offs, as reported in an earlier post, this move to reduce hiring underscores the pressure on existing partners and associates to pick up the pace in new business development.

It's useful to note Mr. Fromm's emphasis on "emerging areas of law that generate revenue." Now is the time to look into the crystal ball and develop new legal services that will meet the needs of corporate clients facing slow payments, burdensome loan covenants, employee reductions, or refinancing pressures.

Focus is always beneficial, and those law firms and attorneys who understand a select number of market niches may find it easier to craft offerings that will ease economic pressures on their clients in 2009. November and December are good planning months to get ready for the New Year.

Monday, November 10, 2008

Weil Gotshal Parter a "Woman to Watch"

Marcia Goldstein, Partner at Weil, Gotshal Manges, is named to the Wall Street Journal's "Women to Watch" list for 2008. She is the only law firm partner on this roster of top performers, drawn mainly from the ranks of Fortune 500 firms, banks, government and philanthropy.

Ms. Goldstein is head of bankruptcy and restructuring at Weil, Gotshal & Manges LLP, well known for their role in advising debt-laden firms. Current clients include AIG and Washington Mutual. She also served as a lead advisor to WorldCom and Parmalat Finanziaria SpA.

View her bio here:
View the article here: