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Strategic Planning, Article

June 9, 2020

Caring for Clients During the COVID-19 Crisis

Mary K Young and Alex Dimitrief, via a webinar, will examine what is on the minds of General Counsels and how best to communicate with and serve them in light of the challenges they are facing with COVID-19.  Mary K  and Alex  will hold a conversation that taps into Alex’s unique understanding of what in-house counsel are facing. Alex will draw on his experience helping to guide General Electric through the 2008 global recession among other crises.

The conversation will include a discussion of:

  • What General Counsels are thinking about during this crisis and what their highest priorities are
  • Where relationships with law firms rank on a GC’s list of priorities during a crisis like this and what this means for law firms
  • Things law firms can do to make a good and long-lasting impression on their clients and what law firm relationship partners should avoid doing
  • How marketing and business development staff can help their firms navigate this pandemic
  • Types of communications from law firms that in-house counsel welcome and types to be avoided

June 9, 2020 - 5:00 pm to 6:00 pm

To register for the webinar, please visit the LMA Caring for Clients webpage.

Management Consulting, Marketing Planning, Strategic Planning | Speaking Engagements | Alex Dimitrief, Mary K Young | LMA Mid-Atlantic Region

May 11, 2020

America’s Corporate Debt Binge Saving Big Law Jobs in Pandemic

America’s blue chip companies issued record amounts of debt in March and April, powering a renaissance for the often overlooked Big Law practice that helps companies issue bonds, and helping some law firms avoid layoffs and pay cuts.  Kent Zimmerman observes that capital markets groups in many firms are now outperforming private equity, which is a reversal of what many firms saw before the crisis. and that it won't be long before private equity comes back. It’s just a question of when.

Management Consulting, Strategic Planning | News Mentions | Kent Zimmermann | Bloomberg

April 21, 2020

10 Lessons From GE’s Former GC on How to Step Up and Steer Companies Through Tough Times

Alex Dimitrief discusses ten lessons he learned at General Electric during the financial crisis and other periods of angst about how general counsel and their teams can help their companies navigate the coronavirus pandemic.

Management Consulting, Strategic Planning | Publications and Articles | Alex Dimitrief | Law.com

May 7, 2020

Wall Street ‘Nightmare’ Alive as Kirkland Poaches From Wachtell

Kirkland & Ellis’ new chairman Jon Ballis has wasted little time making his mark, poaching a rising star dealmaker away from one of Big Law’s most untouchable firms this week, despite a global pandemic slowing the economy and scaring rivals away from making big-dollar hires.  Kent Zimmerman sees the move as a demonstration of the chairman's commitment to continue the firm’s long-term investment in building out M&A.

Management Consulting, Strategic Planning | News Mentions | Kent Zimmermann | Bloomberg Law

April 1, 2020

'Strong, Big-Name Firms' Are Looking at Imminent Cuts to Partner Draws, Consultant Says

To deal with economic uncertainty, industry adviser Kent Zimmermann said Am Law 100 firms are seriously considering numerous meaningful cost-cutting options, including cutting partner draws, and are predicting a modest decline in revenue.

Management Consulting, Strategic Planning | News Mentions | Kent Zimmermann

March 30, 2020

As Coronavirus Ravages the Economy, Bankruptcy Attorneys Prepare for the Flood

Big Law has been anticipating an uptick in bankruptcy and restructuring work. Thanks to the COVID-19 pandemic, it may be coming sooner than expected.  Mary K Young comments on the challenges for lawyers working from home and those firms best positioned to handle the anticipated increase in bankruptcy cases. 

Management Consulting, Strategic Planning | News Mentions | Mary K Young | Law.com

March 31, 2020

GE's Former GC: Clients Have Long Memories for Outside Counsel's Conduct in a Crisis

Alex Dimitrief advises that the most important guiding principles for outside counsel during a crisis are to be helpful and to steer clear of anything that might be construed as insensitivity to a client’s distress,

 

Management Consulting, Strategic Planning | Publications and Articles | Alex Dimitrief | Law.com

March 24, 2020

Big Law Leaders Must Prepare For COVID-19 Economic Fallout

Peter Zeughauser provides recommendations on how law firms can prepare for a likely economic downturn due to COVID-19.

Management Consulting, Strategic Planning | Publications and Articles | Peter Zeughauser | Law360

March 23, 2020

Coronavirus Crisis Upends In-House Counsels’ Work Routines

In-house lawyers are dusting off crisis management plans and reading contracts with a different eye as they try to guide U.S. business leaders through all the uncertainty caused by the novel coronavirus. The challenges are acute in the most disrupted industries such as health care, higher education, hospitality, and transportation, many of which are now seeking billions in federal government aid.

Alexander Dimitrief  discusses priorities for law department leaders during these turbulent times.  Leaders should “slow down the room” by thinking through the long-term business implications of potentially hasty decisions. Mistaking speed for decisiveness can often result in overlooking critical dissenting views.  GCs should work with their CEOs and other C-suite leaders to remind everyone it’s the long run that counts, and not straying from an organization’s values is essential for enduring success.”

Strategic Planning | News Mentions | Alex Dimitrief | Bloomberg Law

March 23, 2020

Bankruptcy Lawyers Prepare for an Onslaught of Battered Companies

The coronavirus is threatening to destroy businesses large and small — and that’s got bankruptcy lawyers’ phones ringing off the hook.  The economic shock of the social isolation measures being taken across the U.S. to mitigate the pandemic threatens to put millions of Americans out of work and leaves companies in a raft of industries wondering how they’ll make payroll. As bankruptcy lawyers adjust to the new routine of working from home, many are seeing a spike in business they haven’t experienced since the September 2001 terrorist attacks and the 2008 global financial crisis.

Kent Zimmermann sees a sharp ramp-up in the age of the virus with demand picking up for firms serving industries under stress, starting with energy and retail, but also including transportation, leisure and hospitality, and others. High-performing restructuring lawyers with big followings are an increasingly hot commodity.   And he sees still other practice groups, including private equity, benefiting as well.

Strategic Planning | News Mentions | Kent Zimmermann | Financial Post