Law And More

Bayer & Roundup - Will It Settle?

To many constituencies, ranging from management experts to investors, the leadership at Bayer seems like a Ship of Fools. Meanwhile the stock has been on a sustained downward trajectory. 

Here are more details from The Wall Street Journal.

Less than a year ago Bayer purchased Monsanto, maker of Roundup. Not soon after, in a U.S. courtroom, Roundup was associated with a death from cancer. The verdict, which was reduced, had been $289 million.

More recently there had been a jury verdict of more than $2 billion. There remains 13,400 total plaintiffs. In terms of the stock, Bayer currently is worth less than the $63 billion it had paid for Monsanto. 

The question, as the WSJ, points out is: Will Bayer settle?

Essentially, Bayer is waiting to see how the appeals go - yes, it is appealing all verdicts - in order to get a clear picture of the legalities.

Also, a win could significantly affect its perception of where it stands legally.

There is also the reality that around the world, regulatory agencies find the active ingredient in Roundup - glyphosate - safe. That includes the EPA in the U.S. 

In addition, investors want to have put on the board those who understand U.S. litigation and crop science. 

Also, the elephant in the room is that Roundup is still being sold. There are commercials for it on U.S. network television.

For now, leaders of the company will probably keep their jobs. That's primarily because the financial and branding situation is so severe that it would be more risky to have a management shakeup than just cruise along.

The Bayer perfect storm, to use the cliche, is one which would make a fascinating case study for U.S. public relations crisis experts. 

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

SmallLaw, Solos - Rainmaking The Old-Fashioned Way

It's palpable: anticipating The Downturn.

The only issues are when and how severe.

That  could mean many growth niches could shift to becoming a zero-sum game. So, there is now an obsessive focus on developing new business - both increasing what we got and reaching those prospects we haven't succeeded with previously.

The slang term for that is "rainmaking."

As an experiment, I veered away from following the herd on marketing through social media. I got old-fashioned, again.

The results include one returned client and one new one. Four others requested my bidding on some assignments.

Here's the story. I had made all the right moves to land an account I wanted. After I signed the contract, I created a short narrative, with a graphic, to send on a customized one-on-one basis to both those on my networks and those who weren't. I leveraged all mediums, including snail mail.

To play it safe I referred to the client generically as in "the X industry." No, I didn't give the actual identity.

Yes, I explicitly said I had room in my schedule for their business. And business did come.

Another old-line tactic is asking upfront what we can do for ABC or XYZ. That used to be called Making Deposits in the Favor Bank. 

An example: An acquaintance had published a book. I offered to help promote it pro bono. That new author asked for the how-to. I briefed him. Ironically, he insisted on paying a fee and promptly did just that through Paypal.

A third old-fashioned way of rainmaking is to show up in person at something, anything. That requires lots of effort. We have to extricate ourselves from our screens. At an informal tenants' group I slipped in casual references to my recent business accomplishments. I picked up an appointment to present my services at a pet center. 

When social networks and social media were new, those of us who understood how to use them for marketing had an edge. Currently, it's a dog fight for attention. The big names are the ones with the edge.

That's why as hard times approach - and come they will - we all have to pilot other approaches to bring in new business.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

 

The Media Innovator's Dilemma - From Ted Turner to David Lat

They build something that disrupts the media industry. 

The innovation works.

The experience is totally heady, with great influence. After all, it's said that media - not government, business or even technology - is the most powerful force in civilization. 

Then they sell that media outlet or simply move on to try out another role. What could play out next could be labeled The Media Innovator's Dilemma. 

For creator of 24/7 cable television news - Ted Turner - there was no next after he sold CNN.  He became just another businessperson whose former outsized presence went poof. Publicly, he indicated he regretted the sale. From then on, Turner seemed in mourning. And for a while, CNN's ratings plummeted. 

In the niche - legal media - the innovator had been creator of Abovehthelaw (ATL) David Lat. That began in 2006.

Officially he has left that role and become what is really a salesperson's job at headhunting firm Lateral Link. Its playing field is the legal sector.

Of course, that also constitutes a shift from being the boss to being an employee.

So far, Lat seems not to be able to totally let go of the legacy. He posts on ATL. It's in connection with his current headhunting  role, leveraging the aura of the innovation in hopes of developing new business. But, still, a clean break might have signaled amazing confidence in what is next.

As an employee, Lat won't be in charge. Instead he had to get the hang of fitting in to someone else's organizational culture. That's challenging.

In more rigid times in business, corporate employers hesitated hiring former entrepreneurs. They were wary that the transition might be impossible. That was the time of the Organizational Man (and Woman).

Since then, of course, careers paths have become less linear. More founders are parachuting into organizational functions. 

At best Lat could become a thought leader in the world of career strategies in the legal industry.

That's different than being a presence in media.

In his current role, his success depends on body count: How many placements he can make. Yeah, it's business, not mission of changing how news and commentary are positioned and packaged. The organization measures success in terms of that business metric. Either you make the sale or you don't make the sale. The game is binary. 

Lat could succeed at being a headhunter. He could adjust to employee status. He could also make more money than he had in media. But gone with his choice to give up ATL is the unique influence he had.

Media is the loudest voice in just about every context. That "loudest voice" is how journalist Gabriel Sherman summed up Fox News founder Roger Ailes. Here that book can be ordered from Amazon. According to some reports, after being ousted from Fox, Ailes was conferring with deep pockets such as Peter Thiel, who funded "Hogan v. Gawker," to fund launching a competitor to Fox. No, Ailes didn't plan to get a job in someone else's media outlet. 

Also, there is the issue if ATL, like CNN, will shift into a downward trajectory after the founder leaves. Part of the innovator's genius is a good head for the business of media. Are those business smarts embedded in ATL? The ATL DNA was Lat's genetic engineering. 

My hunch is that Lat could have moderate success in the headhunting space. But it's the media innovator's dilemma not to be able to make peace with the decline in influence.

Meanwhile, it would be shrewd reputation management for Lat to let go of ATL, in rebranding himself as a leader in executive search. Turner seemed incapable of that kind of reimagining his professional identity.

As for ATL, the niche of legal media seems ripe for another innovation. It could or could not come from the folks at ATL. A severe downturn can create demand for a fresh kind of analysis and presentation of issues. 

Full Disclosure: Since the late 1980s, I have been an entrepreneur. There I found extreme success versus organizational life. Recently I had a negative experience with Lateral Link. 

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

Tony Robbins - Will BuzzFeed Investigation Do to Him What The New Yorker Ones Did to Harvey Weinstein, Les Moonves?

Law firm for celebrities Lavely & Singer denies it all. Among its clients is Bill Cosby. 

The "it" is the allegation of inappropriate behavior by mega guru Tony Robbins. That ranges from alleged verbal abuse of audience members to sexual misconduct with employees.

But BuzzFeed stands by its findings of an investigation which included leaked recordings, internal documents, and interviews. The focus of all that has been the alleged secret conduct of self-help coach Robbins.

Unlike mental health professionals, coaches in that niche do not require licensing. And Robbins' empire is closely guarded from media. His coaching presentations aren't allowed to be recorded.  Here is that BuzzFeed expose. 

Immediately one wonders if the BuzzFeed investigation will derail the career of Robbins, just like The New Yorker ones by Ronan Farrow did the professional life of Harry Weinstein and Les Moonves. Here is one of Farrow's articles on Weinstein, dated October 2017.

In addition, will these accusations prompt the push to license all those who declare themselves "coaches?" In some sophisticated circles, life coaches have replaced psychotherapists. 

The accusations are, well, colorful. Allegedly Robbins had his followers, as a tutorial, simulate sexual release. He berated those who claimed they were victims of rape. It was contended he would have his employees take notes in his apartment while he was naked, as in exiting the shower. Five women have made those kinds of sexual harassment claims. 

If these allegations can be proven or if Robbins caves and admits them, that would be no surprise. Power can unhinge judgment. Those with it might assume they can "get away" with unethical and illegal actions. They figure the victims will be too frightened to snitch. 

This story certainly has legs. The immediate issue is: Will it deliver a blow right now to Robbins' business interests? The #MeToo movement still has momentum. 

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

Abortion in America - Probably a Goner

Law is not a composite of Platonic forms stored out there in some mystical universe that human beings struggle to understand and interpret. Incidentally, that Platonism had been the fundamental of Roman Catholicism. The Pope, Catholic dogma held, had access to that realm of absolutes.

Instead, a legal system is shaped and reshaped by community values. Currently those community values are tilting to banning abortion as a mode of birth control in the U.S.

As The Wall Street Journal reports, after the positive House vote, the Senate in Alabama approved 25 to 6 making abortions illegal in the state under most conditions. The one exception would be health reasons. The governor Kay Ivey may or may not sign it. 

That legislative move is intended to go all the way to the U.S. Supreme Court to challenge "Roe v. Wade." Given the addition of Bret Kavanaugh to SCOTUS, antiabortion supporters have a shot at overturning that ruling. 

What's going on in AL reflects community values in many other states. Here in the Midwest the highway is full of antiabortion billboards. They are well-done so one has to assume the advocates are well-funded enough to parachute in advertising talent.

But AL seems the most organized in the strategy to have SCOTUS revisit "Roe v. Wade." Given community values at this time, abortion could be a goner in the U.S.

In addition to moral values, there might be an economic one pushing this initiative. The headline in this morning's media is that U.S. births have fallen to the lowest level since 1980s. Here you can read an example of the coverage.

Aging government leaders get it that they need lots of births to eventually restock the workforce and fund their entitlements such as Social Security. Otherwise, payments could be reduced - or go poof.

In addition, the U.S. is about 70% a consumer economy. It needs more babies born now to buy autos and houses tomorrow. In real peril is the higher education system. There are fewer in the traditional college age pool. As Education Dive monitors, more private colleges and universities are shutting down. 

Obviously, babies are good for business and the U.S. is primarily about business. It's in terms of ROI - return on investments - that we socialize even the young to think.

Mandating more babies to be born is good for business.

UPDATE:

Alabama governor Kay Ivey signed the bill. Let the court fights begin. Yes, this issue will likely make its way to the U.S. Supreme Court 

Here is more coverage from the media.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

2019 Financial Results for Law Firms - The Game

"New reports from Thomson Reuters and Citi Private Bank both found softening demand and growing expenses in the first quarter of 2019." - Dan Packel, "Law Firms See Warning Signs of Slower Growth in 2019," in Law.com, May 14, 2019. Here is the article.

Slower growth is a story that attracts attention. For instance, the link to the Packel coverage is listed in Abovethelaw.com Morning Docket. However, many firms in BigLaw as well as boutique law firms with strong branding can continue to increase fees. In itself that can bridge any gaps between reduced demand/rising expenses and Profits Per Partner (PPP).

Sure, Packel presents the demand realities of stagnant litigation and declines in real estate and tax assignments. In terms of corporate work, transactional was up a bit. Also the major jump in associate entry-level salary and generous bonuses has reduced the control law firms had established on expenses after the worldwide financial crash. 

But the leadership at law firms who know how to attract, hold, and move on to lucrative accounts likely will generate PPP growth in 2019. Leaders who don't have a solid sense of the business of law could encounter fierce headwinds this year. Yes, a global economic slowdown could happen. Immediately corporations will decide not to file bet the ranch litigation and postpone as much transactional work as possible. 

No surprise, Lateral Link is presenting a 12-part series on rainmaking. Here is the first part by Lateral Link senior director and career coach Cordell Parvin.

Meanwhile the JD Class of 2019 and junior associates should be worried. From the get-go, they should be skilled in the art and science of new business development. Excellent work is no longer enough to succeed in the legal sector. Partners found that out post-2008. Unless they brought in new accounts they were forced out. 

During the Chrysler turnaround led by Lee Iacocca and the IBM one conducted by Lou Gerstner, the meme for all employees no matter what their function was: We all sell. 

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

Rainmaking - Lateral Link's Cordell Parvin Presenting 12-Part Series

In all professional services, not only law, hyper competition is the norm. So is client churn. 

Continual new business development is a must-do, both for survival and for scaling. In addition, the lack of new business development or rainmaking can result in being "forced out."

At Lateral Link, senior director Cordell Parvin is presenting a 12-part series on rainmaking. Here is the first installment, free to click on.

Among the key takeaways are:

•  Develop and continually deepen expertise in a niche. Become known as the go-to expert in that field. The market is national and global, not simply local. And, size of the firm can be irrelevant if you do that right.
• You must be visible.
• Gaining exposure entails using both the old-line tools such as a monthly column in third-party media and social media/social networks.
• Exploit what is know as "weak ties." Those are contacts outside your usual networks who know of opportunities others don't and can put you in touch with the decision-makers. Often those in your networks are all chasing after the same pieces of business.
•  Have down cold your prospects' business. That means understanding the fundamentals, learning about developments, and being aware of vulnerabilities to competitive threats. 
•  Have a plan.

What I have discovered in rainmaking is that some tools generate amazing outcomes - for a time. Then, there could be gigantic shifts in the marketplace, including new forms of competition. Sustained success depends on picking up on those changes before they catapult your professional services firm into a downward trajectory.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

Abovethelaw.com - Smart Strategy of No Paywall

Setting up a paywall is risky business - and controversial.

For The New York Times it has meant financial salvation. 

But, for the distressed Conde Nast, which lost $120 million in 2017, it could impede the publishing empire's attempted financial turnaround.

Beyond the business issues, there is always the public debate if content on the internet should have a toll. Those putting forth that argument usually forget that folks once paid for the local daily newspaper.

To gain perspective on the paywall question it's useful to analyze successful media outlets which never put one up. Among them is Abovethelaw.com (ATL), a digital native launched in 2006.

It differentiated itself by delivering news and commentary related to the legal sector in a disruptive manner. That initially attracted law students and junior associates in law firms. Those are not the kinds of readers who are willing to pony up a subscription fee. Over time, additional groups, often deep pockets, began to follow ATL. Still no paywall.

ATL leveraged not having a paywall in unique ways.

For example, it would cover hot legal news that was behind paywalls, ranging from Law.com to The Wall Street Journal. Who is going to not go to the free read to find out the latest in how many lawyers from law firm Jones Day were being hired by the Trump Administration? 

In addition, the no-paywall policy, amid so many other media outlets with paywalls, created cohesion among readers.  There was a feeling of belonging. They became sources, rushing to send confidential tips to ATL. Often that information included official memos and so on. Consequently, ATL was able to be the site that broke the news. Other media properties then had to quote ATL. 

A third benefit of having no paywall was the aura of a mission. ATL existed to be the advocate of anyone caught in the legal-sector meat-grinder. The continuum extended from applying to pricey law school when the number of jobs was declining to being an alleged victim of gender discrimination.

Of course, ATL is not alone in being a successful digital native with no paywall. Others are Drudge Report and Axios.

One wonders if successes like BusinessInsider and Tech Crunch are entering a high risk zone.

Both have created premium content which is behind a paywall. So, their business model is mixed: Some content for free, some only available through subscription. Time will tell how that plays out. Meanwhile, it seems that more and more of the best stuff is being classified as premium.

Recently, ATL founder David Lat has left the media outlet to become managing director at legal recruiting firm Lateral Link. Here are the details. Will that change in leadership eventually result in a paywall? Again, time will tell. Human beings seem to have a genius for screwing up what is working well.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

Birth Dearth - Major Threat to Law School Deans

The pool of college students who might decide to apply to law school is shrinking. That's called the "birth dearth." Fertility rates plunged 13% from 2007 through 2012. They haven't picked up during the recovery. 

According to experts interviewed by The Wall Street Journal the impact of declining fertility rates on higher education will worsen. For example, economist Nathan Grawe predicts 450,000 fewer college applicants in 2020. 

The implications should scare deans at law schools not in the T-14. Given the diminishing number of applicants the elite law schools will wind up accepting the less-than-stellar future student.

That reduces the number who will eventually enroll in a non-T-14.

Fortunately, there are solutions. 

Among them is creating a niche identity. The non-T-14 will adopt the strategy of becoming known as the go-to institution for labor issues, both plaintiff and defense, or fintech. Having a niche identity or being totally differentiated has become the must-do survival/scaling approach in many businesses. After I created branding for expertise in aging/retirement, clients came from nowhere to me. 

Another recruiting tactic, notes The Wall Street Journal, is to focus on the west. There the birth rate hasn't tumbled so badly.

And what I suggest is developing the track record for the high placement rate of graduates in law-related jobs. That could happen through aggressively involving alumni in such activities as informing the law school about openings, coaching students on how to apply for the jobs, and being references.

The job market, like every other institution in America, keeps changing. Alumni can identify those shifts, especially the emerging ones, and keep their alma mater up-to-date. 

Yes, just like colleges and universities are shuttering now, law schools could go out of business. Faculty and staff would be jobless. Local economies would take a hit. And graduates would lose brand equity.

Reflection: Having children is increasingly considered a lousy investment. 

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com

BoxAid Levels Playing Field for Small Law, Solos, and Even Midsized Law Firms

From the get-go, digital technology was supposed allow enterprises of any size to look, talk, strut, and transact business like the major players.

In law that didn't happen for SmallLaw, solos, and even some midsized firms. It turns out that digital is much too complex for most lawyers to even ask the right questions. So, no, there has been no level playing field. 

Consequently, the large law firms continued to have the advantage in developing new business because they had an in-house IT department. Their IT staff could figure out what questions the law partners should be asking to capture new accounts, impress current clients with their fast user-friendly service, and increase operational productivity.

However, some beyond the AmLaw 200 did  discover service providers like BoxAid.

How that went usually has been this way: They may have been searching online for a remote service to fix the slow speed or eliminate the suspected virus. That's how they bumped into the glowing review of BoxAid by The Wall Street Journal. Here you can read it.

What The Wall Street Journal highlighted included:

• Honesty of the technician
• Attempt to provide customer with lowest-cost but high quality solution
• Expert knowledge
• Getting problem fixed in that first visit
• Fair price, and
• Even how to prevent that situation in the future.

When those lawyers came back a second time with a different problem, they found out that the expertise of BoxAid's technicians was so deep that just about any question could be asked in any manner. The techs then reframed the issue to what the actual problem or need was. The menu of services at BoxAid is also broad.

Eventually, BoxAid became their go-to vendor for all IT office requirements.

There are no contracts, no subscriptions.

There is no charge for information about products and other kinds of services. In fact, there is a candid briefing about how to approach the vendor so not to be taken advantage of. 

You can reach BoxAid at 800-999-6872.

I discovered the techs there in 2015. I was on deadline for an assignment for a large law firm and my PC froze around 8 P.M.

I was frantic. The tech wasn't.

The next call to BoxAiad was about my jammed printer.

Last night George at BoxAid purged a virus that was interrupting connectivity, educated me about the limitations of an expensive brandname virus protection product, and installed the free anti-virus Abast. 

When everything was back online, I encouraged George at BoxAid to parachute into thought leadership publishing and speaking. Smaller businesses, not only law firms, throughout the U.S. need his insight. 

Reflection: Quality, reliable, affordable IT service is a must for scaling.