Podcast Transcript: This podcast is produced by the ABA Journal. We bring you the latest legal news every day from around the Web. Visit us online at ABAJournal.com.Stephanie Francis Ward: 2011 has been a crazy year, money-wise. Many big firms made substantial profits in the past 12 months, but many big firm clients still maintain the young lawyers are paid too much money. That being said, what will year-end associate bonuses look like, and what sort of things are playing into management’s decisions about how much they’ll give? I’m Stephanie Francis Ward, and that’s what we’re discussing today at the ABA Journal Podcast. Joining me is Bruce MacEwen, president of Adam Smith, Esq. The consulting group focuses on law firm business and economic issues. So Bruce, let’s get straight to what many people want to know. What are Wall Street law firms going to be paying for associate bonuses this year? Also, how do you think they reached their decision on that … [Read more...] about Santa or Scrooge: How Do BigLaw Firms Determine Associate Bonuses?
The bonus round
By now, everyone knows the Affordable Care Act’s (“ACA”) motto is “increase quality, decrease costs.” As providers transition from the fee for service payment model to new payment systems that are tied to quality, one subset of providers will play a pivotal role in bringing health care into a new era: hospitalists.Hospitalists (physicians who provide care solely to hospital inpatients) are poised to lead the way in ensuring that patient care is no longer a series of disconnected dots, but rather a continuum of ongoing service. As primary care providers (“PCPs”) and subspecialists increasingly limit time set aside for hospital visits, it is up to hospitalists to improve inpatient efficiency, manage patient expectations and coordinate the overall inpatient experience. The unique nature of hospitalists, still a recently new specialty, makes meeting the lofty expectations of the ACA more attainable.There are a number of ways that the ACA is … [Read more...] about Beyond Making the Rounds: Hospitalists & Quality of Care under the Affordable Care Act (ACA)
With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure. Politicians scramble to fight for whatever cause du jour will garner them the most support. And lately, no political act is guaranteed to please Main Street quite so much as blaming the U.S. banking system for the country’s woes. (It is not just the government attacking the banks; as we reported here, Arab Bank of Jordan is currently facing penalties after a jury of its peers decided the bank was liable for seemingly attenuated violations of the Anti-Terrorism Act.)In the face of mounting political pressure, it is perhaps not surprising that prosecutors are reopening and re-prosecuting previously settled cases against banks. When it comes to the U.S. financial system, it seems that prosecutors just can’t get enough.In several more notable cases, prosecutors are re-opening settlements … [Read more...] about Round Two: Prosecutors Reopen Bank Settlements
On September 28, 2016, Governor Brown signed new legislation relating to the construction of affordable and market-rate housing. Although AB 2501 has drawn the most attention from commentators and the media, AB 2442 and AB 2556 also amend Government Code section 65915, and AB 1934 adds section 65915.7 to the State Density Bonus Law (or "DBL"). In broad strokes, these bills accomplish the following:AB 2442 expands the categories of specialized housing that could qualify a development for a density bonus. AB 2501 attempts to clarify and streamline the procedure at the local level, while restating the DBL's objective of producing more housing units. AB 2556 answers some of the implementation questions left open by AB 2222 as it relates to the required replacement of affordable units previously onsite. Finally, AB 1934 provides certain development bonuses for commercial developers that partner with affordable housing developers in conjunction with their commercial … [Read more...] about California Governor Signs Four Bills Affecting Density Bonus Projects
Some California associates are hoping that New York law firms will raise annual starting pay to $200,000, leading to another round of salary wars.But many observers say a cooling economy is likely to keep new associate pay at the big California firms at $160,000, the Recorder reports.In view of unlikely pay hikes, associates are now focusing on bonus structures. Some firms will pay as much as $50,000 in bonuses. Others pay less or hand out bonuses based on a “touchy-feely” assessment of associate contributions.The Recorder has published a salary chart that also shows bonus ranges and billable-hour requirements at the West Coast firms. … [Read more...] about CA Associates Look to Bonuses as Pay Holds Firm