Two years ago, Ann Lee Gibson picked a certain Washington, D.C., law firm as the weakest link in that legal market. She does so every year with the big legal markets around the country.Gibson applied her own metrics to the firm’s numbers in a legal publication’s listings of the highest grossing law firms. They looked good, but she saw a pattern over several years: Earnings were stuck at the same level, which would cause internal friction among the lawyers. And one of the firm’s biggest practice areas, telecom, was way down and falling.Sure enough, now the firm has lost a sizable number of lawyers and reportedly is in play for splitting, merging or whatever it can salvage.Gibson is a business development consultant for law firms–she’s tallied $400 million and counting in new business for her clients over the past seven years. Based in West Plains, Mo., and a very frequent flier, she worked previously as a marketer inside two California based law firms, … [Read more...] about Intelligent Competition
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Federal Tax Reform: The Senate Bill – Comparison to the House Bill, and Evaluating the Bigger Picture
The Senate Finance Committee released a detailed description of the Senate's tax reform bill, titled the Tax Cuts and Jobs Act, on November 9. The Committee has not released the text of the bill, and likely will not do so until after it approves the bill. Earlier on the same day, the House Ways and Means Committee completed its four-day markup of the House bill, H.R. 1—which had been released on November 2, 2017—and approved the amended version.Although it is important to focus on the details of the two plans, we also note the following broader points that could be helpful in evaluating the bills.The table below summarizes the key provisions of the Senate bill and compares them to the original House bill and the amended House bill.Next steps. The full Senate and the full House will vote on their respective bills. The House is expected to vote on the House bill as early as this Thursday. The Senate is not expected to vote on its bill until … [Read more...] about Federal Tax Reform: The Senate Bill – Comparison to the House Bill, and Evaluating the Bigger Picture
Federal Tax Reform: How the Newly Passed House Bill Compares to the Senate Bill – A Side-by-Side Comparison, Plus the Big Picture
The Senate Finance Committee released a detailed description of the Senate's tax reform bill, titled the Tax Cuts and Jobs Act, on November 9. The Committee has not released the text of the bill, and likely will not do so until after it approves the bill. Earlier onthe same day, the House Ways and Means Committee completed its four-day markup of the House bill, H.R. 1—which had been released on November2, 2017—and approved the amended version. November 16 update : The House today voted, 227-205, to pass the House bill, generally in the same form as it was on November 9. Thirteen Republican members and all Democratic members opposed the bill. Nearly all the opposing Republicans are from states with high state taxes. The House approval of the House bill is generally in line with expectations. In addition, late last night, the Senate Finance Committee voted along party lines, 14-12, to approve the Senate bill. The text of this bill still is not available, but is … [Read more...] about Federal Tax Reform: How the Newly Passed House Bill Compares to the Senate Bill – A Side-by-Side Comparison, Plus the Big Picture