A new survey by Robert Half Legal of law firms from across Canada indicates that 71 per
cent of firms say finding skilled professionals like lawyers, paralegals and legal assistants is challenging.
Not exact matches
Neither existed in Germany or the Netherlands just a few years ago, but they now account for 17 per
cent and 32 per
cent of their respective markets, the analysis
firm says.
The arrival
of Nintendo's Wii U last year didn't invigorate game sales, which research
firm NPD Group
said have dropped 9 per
cent over last year.
The financial sector changes were later confirmed by Yi Gang, the newly appointed head
of China's central bank, who
said foreign investors would be allowed to hold up to a 51 per
cent equity stake in brokerage
firms, futures companies and fund management
firms.
«Every penny counts, but if we step back and I'm looking at earnings
of $ 6.60 per share this year, 2
cents is an easy concession if the president - elect listens to some
of the company's bigger concerns,»
said Howard Rubel, a senior equity analyst with Jefferies, an investment banking
firm in New York.
The Wall Street
firm, however,
says it bought the block
of bonds, priced at about 31
cents on the dollar, through a broker and did not interact directly with the government.
The Aussie will decline to 72 US
cents by year - end as restrained economic growth and inflation mean the Reserve Bank
of Australia will take a «few years» to catch up with the Federal Reserve in raising borrowing costs,
said Philip Moffitt, Asia - Pacific head
of fixed income in Sydney at the
firm, which oversees more than $ US1 trillion.
Scandinavian dairy
firm Arla Foods
said last autumn that many European producers were reducing skimmed milk powder output by as much as 20 per
cent in the peak season because
of the impending EU price cuts.
The Resident Engineer, Mr Ahmed Massoud, who led a team
of engineers and other officials
of the contracting
firm, Euroget De-Invest on the inspection,
said works on the health facility were over 80 per
cent complete.
On the eve before the World Cup kicks off, new figures show that over half
of small
firms will be letting their staff watch key matches, however 32 per
cent are unaware they need a TV Licence to watch the games online,
says the Federation
of Small Businesses (FSB).
More than three quarters
of the
firms surveyed
said that their costs had increased in the quarter, mainly due to rising commodity prices as more than half
of respondents (57 %) cite rising energy costs, and 49 per
cent increase in the cost
of raw materials as the reason.
With 53 per
cent of small business owners
saying that they spend between one and six hours per week chasing late payments,
firms can take control by: Making sure there is a contract in place which confirms payment times and then penalties if payment is late — such as interest charges Offering a discount for prompt payment, dependent on the relationship with the purchaser Asking for payment up - front, or a deposit before work begins Talking to the purchaser before shipment to make sure that all sides know payment terms John Walker, National Chairman, Federation
of Small Businesses,
said: «There are always going to be companies that pay late, but there are steps that businesses can put in place to make sure that they don't fall foul
of the issue.
Whitehall sources
said that they had discovered that some major UK lenders - including RBS, HSBC and Barclays - have had only 20 per
cent of their balance sheets made up
of «traditional» loans to UK households and
firms.
«This discovery is by a 100 per
cent indigenous
firm and at times like this when we are experiencing dwindling revenue from different areas
of our economy; at times like this when foreign exchange is highly turbulent, it gives one great hope that the future prosperity
of Nigeria is assured and is secured by transactions like this,» Governor Ambode
said.
BP and Shell are yielding 7 per
cent, double the market average — another way
of saying that their share prices are half what they would be if the
firms» futures weren't so depressing.
Research note
says price
of EUAs will rise 10 per
cent during 2010 as industrial
firms hedge bets ahead
of phase three
Truly active ETFs make up less than one per
cent of the US$ 3 - trillion global ETF market,
said Deborah Fuhr, managing director
of U.K. - based ETF research
firm ETFGI.
okay here's my two
cents worth folks im up for renewal and have just nagotiated a rate 5 yr variable1.75 persent or if i want a five yr fixed at 4.49 still quite a gap between fixed and variable here i believe i have a little lee way here apparently i was only interesed in variable and five yr fixed but i made it absulutly apparent to them that when lock in from a variable i get the whosale discounted rate at that time and written into the contract i kinda believe this the way the market is heading as we head out
of ressesion and the bank
of canada is going to make there move i believe coming up in june and just to make this
firm i do not believe the boc will raise rates in fast mode far from it will be slow process i don't care what the ecconmists are thinking we have to remember manufactering sector is reallt taking a hit on the high dollar and don't forget our niegbours to the south how dependent our canada is with them i believe it will be a slow process a lot
of people heve put themselves in a debt load over these enormously low interest rates but i may be wrong i think a variable is the way to go if you want to work on that princibal at least should i
say the
say the short to medium term and betting that the bond markets stay put for the short to medium term - i have given enough interest to the banks maybe i can pay a little less at least fot the short to mediun term here i have not completly decided yet put i think im going variable although i wish my mtge was up a year ago that would have been just great congradulations to all that did.
«We're probably looking at across - the - board 15 to 20 per
cent increase in property insurance costs over the next year,»
says Brad Hubbard, the Tampa owner
of an insurance agency and an engineering consulting
firm specializing in flood risk.
Of those that do provide such targets, just 11 per
cent said their
firm pays out bonuses accordingly, and 92 per
cent said there is no penalty for partners who fail to reach their target.
Sixty - seven per
cent of respondents
said their
firm paid associates a general bonus in 2010, with 70 per
cent reporting that such payments were discretionary.
Turning to associates» compensation trends, 70 per
cent of law
firm respondents
said their
firm does not have an annual billable hour target.
Indicative, too,
of the somewhat mercurial state
of the profession, the survey shows only 45 per
cent of law
firm respondents plan to increase their associates» salaries in 2013, whereas 77 per
cent of corporate legal departments
say they will bump up their lawyers» earnings.
Flat fees came in second, with 66 per
cent, and 47 per
cent said the use
of flat fees applies in less than 25 per
cent of the
firm's work.
And while only 7.7 per
cent outsource legal work, 20 per
cent of firms with at least 250 lawyers
said they outsourced legal work.
With
firms hiring less, 40 per
cent of respondents
say they now outsource non-lawyer functions.
About 12,000, or more than half
of all private practitioners in Ontario, work in
firms with five lawyers or fewer, while 86 per
cent of all
firms in the province contain five lawyers or less, Pawlitza
said, noting they are also responsible for almost all legal services in languages other than English.
Also, 78.8 per
cent of respondents
say they are interested in engaging with their law
firms in AFAs.
Fifty - seven per
cent of the respondents to Legal Week's latest Big Question survey
said guaranteed deals were either not very effective (43 %) or made no difference (14 %) in helping law
firms secure the best talent, with just 12 % regarding them as very effective and 31 % as quite effective.
Our survey shows 72 per
cent of in - house counsel respondents
say law
firms have not contacted them in any way over the past year to take the pulse
of the relationship.
In this ultra-competitive environment law
firms are now in — only 19.5 per
cent of those surveyed
said their lead law
firm clearly provides better services than its closest competitors — it is foolhardy to not talk to your clients to find out how you're doing.
In - house are also showing their preference for using boutique law
firms with 72.6 per
cent saying they use smaller specialized
firms in the area
of IP, tax, employment law, and other areas.
In the Canadian Lawyer Corporate Counsel Survey, published in the November / December 2008 issue, 92 per
cent of the corporate counsel surveyed
said their law
firms had not asked them to complete a written satisfaction survey in the previous 12 months.
When asked if they are asking law
firms for a diverse roster
of lawyers to staff their files, 76.6 per
cent said no — about the same as last year.
Already, 63 per
cent of firms surveyed
said they run much
of their IT in the cloud, and 62 per
cent use managed services for cybersecurity.
More than half (56 per
cent)
of respondents
said that technology will have a high impact on law
firms in the next three to five years, while a further 41 per
cent said it will likely have a moderate impact.
According to an American Lawyer report on the top 200
firms in the country released in December, 39 per
cent of managing partners
said their
firms de-equitized partners in 2011, and 38 per
cent planned to de-equitize more in 2012.
Just under 60 per
cent of them
said their jobs consisted mostly
of doing research, and at some
of the smaller
firms, students reported being able to carry at least some
of their own files.
«If a big international
firm came in and started building up with just the cream
of the crop, that could mean 60 - or 70 - per -
cent increases, which would be a game - changer,»
says Sweeney.
In a survey
of the sector due to be published next month, 38 per
cent of respondents
said their
firms are already moving away from desktops towards laptops for most
of their people and 17 per
cent said their
firms are considering such a shift.
According to Arkadin's research, 76 per
cent of respondents
said their
firm uses some sort
of «presence» system to enable instant communications in - house, but only 5 per
cent shared this with clients.
In addition to producing 20 to 90 per
cent time - saving on contract reviews, because Kira's system is trained by experienced practitioners, it helps to «institutionalise a
firm's knowledge advantage» by allowing junior lawyers to benefit from the skills
of their senior colleagues, he
says.
Olmstead has been a legal management consultant for over thirty years, and
says that over 80 per
cent of his law
firm engagements now involve succession planning.
[/ a] In fact, 46.8 per
cent of respondents to the annual Canadian Lawyer Corporate Counsel Survey
said the billable hour is still the main arrangement they have with their primary law
firm, followed by a combination
of billable hours and flat fees at 31 per
cent.
Almost 10 per
cent also
said they sponsor a pension plan, compared with a negligible number
of respondents last year, and around four per
cent of firms in 2014.
When asked if they were interested in engaging
firms in AFAs, 77.4 per
cent of respondents
said yes.
Despite all the talk about AFAs, almost 47 per
cent of respondents
said the billable hour is still the main billing arrangement they have with their primary
firm.
Carrying over from the last few years is a decline in the use
of alternative fee arrangements — 3.2 per
cent said AFAs were the billing arrangement they had with their primary law
firm / external service provider, which was a slight drop from 4.9 per
cent last year and a considerable drop from 12.7 per
cent in 2015.
A staggering 87 per
cent of respondents
said their
firms are currently not evaluating or utilizing artificial intelligence technologies or systems.
In fact, our annual Canadian Lawyer Corporate Counsel Survey indicates 72.6 per
cent of those who responded
said they use the services
of boutique law
firms.