What I learned from New Jersey (and other holiday fairy tales)

After a too-long trip plane ride back to New York, all that was left at 9:30 p.m. last night was a quick trip from Newark to Brooklyn.  Only a few minutes into the ride, we were brought to a halt on a bridge in the aftermath of a 4 car accident.  Along with hundreds of other (I assume) weary holiday travelers, we sat, engine off, watching helplessly as police officers and firemen milled about the scene.  It was clear after a few minutes that there were a couple of people involved in the accident who were loaded onto ambulances–luckily nothing looked too serious.  Everyone sat in their cars.  No honking, no yelling, everyone sat patiently.

It’s as though everyone knew that the situation was outside their control.

At just over an hour in, the entire crowd reached a tipping point.  It became apparent that the people involved in the accident were long since taken care of, and none of the officers had since made any attempt to clear a lane for traffic, or to even acknowledge the now HUNDREDS of headlights lining up for miles.  No one on the scene moved with a spring in their step, it became incredibly frustrating.  The honking started.  Two gentlemen in a van in front of me started yelling for the police to “let us the *bleep* out of here.”

It was an interesting lesson, though, in how we manage the realities of what we can control, and what we can’t.  Sometimes, the situation we find ourselves in is just something we can to deal with.  I found myself thinking about the market and those lawyers who feel that the situation they find themselves in (less work, or more grave, out of a job).  There are obstacles that we have to accept, and losing patience doesn’t help that.  Getting mad and angry at everyone around isn’t any kind of solution.

But, just as my crowd of fellow bridge-sitters did, when it’s time to start thinking about solutions to the problem, the level of frustration in the face of inaction is overwhelming and incredibly frustrating.  As obstacles like those the market is facing continue longer than we were expecting to have to manage them, how do you keep your head on straight?  Are you the type to jump out of your car and yell at everyone you can get your hands on?  Do you lean on your horn?  Or do you watch for all of the signs of progress you can find, so you’re prepared with your engine on when the traffic starts to move?

Happy Holidays and Here’s to a Better 2009

It seems that everywhere I turn these days, I run into someone who has an impressive story of struggle, despair, stress and overall disgust for the year that is (and soon to be was) 2008.  Not only has the economy taken a drastic turn for the worse and caused a spike in unemployment (and fear in those still employed), but it seems as if 2008 was filled with an unusual amount of sad stories of loss and despair.  Even I have to admit that 2008 was not my favorite year.

But here is the good news: 2008 is almost over!  And with that comes a brand new year filled with brand new opportunities.  It’s time to put the past behind us and move forward with a new sense of energy and optimism.   January and February bring the busiest months for lateral hiring, so we expect to see more firms looking to bring on attorneys of all levels.  Moreover, with the new Obama administration coming in late January, there should be a sharp increase in regulatory work for law firms, including financial services, anti-trust, health care, environment and energy/biofuel regulation.  This will undoubtedly result in an increase demand for attorneys in these areas.

And even though the economy may not fully recover in 2009, we are already seeing a significant increase in bankruptcy filings (which is usually followed by an increase in other areas of litigation) that should continue throughout the year.  Demand for bankruptcy and litigation attorneys should rise as a result.

So, for all of you who can classify 2008 as a “crappy” year, let it go.  There are only a few more days before we can officially wipe our hands clean and move into what I hope will be a better year for all of us.  Here’s to 2009!

Bah Humbug

Bah humbug

There is no denying it.  The legal profession is in a recession and it is unclear when the cycle of layoffs will end.    If you are like many lawyers, you are not as busy as you would like to be.  If you are one of the unlucky ones, you may have already been laid off.

In trying to provide support to those of you who are feeling the stress of this down turn, I have posted a number of items on my blog (including here and here) and my BCG colleagues have posted on this blog (including here and here).  While none of us are trying to deny the reality of the situation, we have pointed out that there are things you can do to soften the psychological blow.

I have taken my own advice to heart.  After all, a slow down in hiring is not exactly ideal for those of us in the recruiting business.  So I go to the gym, I think of how much better off I am than many other people, I reach out to friends, and I spend time with my family.

But yesterday it hit me.  Little is going to change in the next two weeks.  Although I have candidates in process, it is highly unlikely that anyone will be hired before the New Year.  In short, I had a hard time getting going yesterday.

I thought about my own advice (going to the gym, calling friends, etc.) but then I realized that there was an important piece of advice that we have all left out.  Simply put, while it is important not to dwell on the negative and while it is equally important to take action in order to avoid sinking into a depressed state, it is also important to acknowledge the negative feelings.  They are there and they won’t simply go away because we repress them.

So I thought about my predicament and lay in bed about an hour longer than usual.  Then I headed off to the gym to get my day started.  And now I am looking forward to some of the things I plan to do over the holidays that don’t involve work.  I’m sure I will have my moments in the next two weeks.  But I will not try to exorcise my feelings without acknowledging that they exist.  Keeping it all bottled up will only have negative consequences in the future.

What’s In (and what’s out) at Law Firms and Beyond

This was a year for the record books. “Change” was the word of the day for over 300 days in a row. The past eleven and a half months were a lesson in the contrast between abysmal and exhilarating. The year is drawing to a close at last and as we bid adieu to 2008, we welcome the dawn of a new era in our collective history. It is a fitting time for an inventory of what is “out” and what is “in” as we begin 2009. I am crossing my fingers like everyone else that the next Baby New Year is a bundle of joy and a lot less colicky than 2008. I am tempted to take off my shoes and toss them at the back of the departing year’s head! But that would be so 2008 of me….. Here’s the list:

Is it New Year’s Eve yet? Best Wishes for the holidays and an abundant and enjoyable 2009.

Pay to Play in Politics; Pay to Stay in Law Firms

The pay-in for equity partners at DLA can be as much as $150,000, according to an article published in The National Law Journal today. Could it be the new trend for similarly positioned globalized law firms? Here’s a link to the article discussing the likelihood that non-equity status may be a thing of the past and “pay to stay” may be the wave of the future: http://http://www.law.com/jsp/nlj/PubArticleNLJ.jsp?id=1202426727867

Why Wall Street Always Blows It

A cautionary tale for anyone who lives to see the next financial bubble:
Why financial bubbles form; why they will always form; why everyone is to blame for the housing bubble (real estate brokers who encouraged individuals to buy at high prices, mortgage brokers who sold adjustable rate mortgages that would eventually reset, Alan Greenspan who kept interest rates low for too long, home buyers who bought homes they could not afford, the regulators who were asleep at the switch and Wall Street types who sold securities which were backed by risky mortgages) and how all parties acted rationally.

Fewer New Partners = Senior Associate Logjam

As firms go through the annual pomp and circumstance of announcing a new class of partners for 2009, one trend is unmistakable — for most firms, the honor roll is getting shorter. Although the press releases and tombstone ads are just starting to trickle out, even a quick perusal of the most recent announcements reveals a fairly drastic reduction in new partner promotions.

How to Have a Happy Holiday in a Miserable Economy

I am dreading the holidays. I wish I could pull the covers over my head and not come out again until January 2nd. I haven’t always been like this. In a normal economy, I charge into the season and charge up my credit card just like everybody else. But now, in the midst of a grave economic crisis, how does one gaily spend and celebrate? (Spending and celebrating having become interchangeable and inextricable concepts in

What I learned from my dog trainer.

Or, more specifically, my dog’s dog trainer.

My beloved canine companion hasn’t been acting so beloved lately. It took me a while for my own internal lightbulb to go off about my dog’s behavior. He’s always been pretty well-behaved, so I processed all of his bad behavior in that context. “Huh,” i thought, when he barked at my friends innocently trying to come in the door and take off their coats “that’s weird. He’s normally so lovely when friends come over.” Surely my dog who has never needed a trainer wasn’t doing anything that would require one now.

Finally, when he growled at a sweet old lady, I called in a professional.

The first thing she did when she sat down was to ask about whether anything has changed in our life and household. She didn’t focus on his behavior, she focused on his environment. And there have been changes in our lives. A new, bigger house. Renovations. Morecoming and going through his previously quiet domain. She almost didn’t even have to do anything else. It became clear that while we weren’t changing how we were acting towards our dog–there were plenty of other dynamics encouraging his escalating behavior.

The great news is that there is nothing wrong with our little monster. He’s not sick, he’s not mean. But now we have to think about how to adjust and reinforce his behaviors to make him more comfortable and confident as our lives change and adjust.

It reminded me of a lawyer I’ve been talking to who was lamenting having to take a continuing education course in his area of the law. Undoubtedly quite accomplished in his field, this lawyer is resisting further training, because he’s never needed it before. While that’s certainly true, his comfort with his expertise has closed this lawyer offto opportunities to better himself professionally. Sure, this is a brilliant guy who knows a great deal. But he’s ignoring the fact that the world is always changing around him, and he’s resisting seeing the gravity of those changes.

Take it from my dog. We always have to ask ourselves whether we’re watching the changes in our professional environment, and learning from them.

Making Time for Yourself

If your work has slowed down or if you are unfortunate enough to be in the job market already, it is easy to fall into a depressed stupor. But keeping a positive attitude is important as you look for work (or while you ride out a slowdown in your department). One way to keep up your spirits is to make sure to carve out time every day to do something you enjoy.

There are many ways to do this. What is most important is that you find ways to reinforce your own self worth by doing something and being successful at it. For some, this might be doing volunteer work (helping the homeless, providing pro bono legal services to an arts organization). For others, it might be playing music with friends, writing poetry, visiting museums, reading spy novels, running or playing tennis.

For me, it is spending time with my children (I really enjoy cheering them on when they play sports or perform in a play or concert) and playing squash. It is also writing this blog and my blog CounseltoCounsel.

Last week I learned that CounseltoCounsel had been named to the ABA Journal’s Blaw100 for the second year in a row. It was nice to get the positive feedback for something I enjoy doing and it was a nice to be successful at something at a time when it is difficult to be a successful recruiter.

So go do something that you enjoy and be successful at it. Your success may not necessarily put food on the table; but it will feed your ego and ensure that you keep a positive outlook when it is most important to project optimism.