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Firms Act to Stem Tide of Lateral Flight
Building loyalty is the key in firms' strategy as more and more partners across the country pull up stakes.In-House Counsel Can Cut Budgets While Firms Increase Profits
"What can I do to win your business?" is a question Jason Mark Anderman frequently hears as an in-house attorney at a Fortune 500 company. He also thought it was the wrong question. To him, it exemplified two problems: 1. He did not know enough about the internal pressures a company faced in selecting outside counsel, and 2. he did not have anything uniquely competitive, compared to other firms, to focus on.Revenues and Profits Up at Top 20, As Out-of-State Firms Make Inroads
New Jersey's large firms obviously went to school during the last recession, which produced lower or flat profitability throughout the first half of the 1990s. The lessons learned -- work smarter for bigger clients and restructure the firm to keep the focus on the bottom line -- continue to pull the top firms through this latest slowdown with flying colors. In 2002, the state's 20 top-grossing firms collectively increased revenues by a record 10.2 percent, a jump in profits per partner of 8.8 percent.Rogers, Lavine Tapped For Appellate Court
Gov. M. Jodi Rell acted promptly Feb. 1 to fill two recent vacancies on the state Appellate Court, nominating Superior Court judges Chase T. Rogers and Douglas S. Lavine.Bank of America announced Monday that it will pay $1.6 billion to the bond insurer MBIA Inc., bringing an end to one of the most vigorously contested disputes to grow out of the mortgage crisis.
Munger, Tolles & Olson will represent Bank of America and co-defendant Merrill Lynch, while Reed Smith will represent the various Countrywide entities named as defendants in the $10.5 billion suit that AIG and its lawyers at Quinn Emanuel filed against the bank last week over soured mortgage-backed securities.
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