Saturday 18 June, 2011

New Industry Economic Indicator

I am happy to re-publish the press release issued this morning by ThomsonReuters reporting on a new alliance we have struck.

For my purposes, the value of this will be being able to offer you, my readers, an additional perspective on legal industry market conditions at a time when they might be of particular interest.

West and Bruce MacEwen of Adam Smith Esq. to Offer Economic Insights on Legal Industry Market Conditions

Quarterly webinars to review Peer Monitor Economic Index and key industry trends

EAGAN, Minn., Oct. 23, 2008 - West and Bruce MacEwen, founder and publisher of Adam Smith Esq., today announced they will provide analysis of legal industry economic conditions utilizing key market intelligence sources from West, including the Peer Monitor Economic Index (PMI). Plans include quarterly webinars on West LegalEdcenter reporting on PMI results and economic conditions in the law firm market, with commentary from MacEwen and law firm managing partners. West is part of Thomson Reuters.

MacEwen is a lawyer, leading industry consultant to law firms, and highly acclaimed commentator on law firm economics. His Web site and blog, Adam Smith, Esq. (http://www.adamsmithesq.com/blogg), is a leading source of progressive critical thinking about law firm strategy and economic issues. PMI is the first-of-its-kind, real-time index of law firm market performance, and the combined market insights of PMI and MacEwen shed new light on the trends and issues that are being closely watched during today's volatile economic conditions. The webinars will begin in the fourth quarter of 2008 and will be hosted on West LegalEdcenter (http://www.westlegaledcenter.com), the premier online service for continuing legal education and other legal education programs.

"As law firms continue to evolve into more sophisticated global organizations, the need for strategic insight for law firm management grows as well," said MacEwen. "I'm looking forward to incorporating the rich data that Peer Monitor Index provides into our quarterly online seminars to give strategy and analysis that are backed by timely, comprehensive information from the law firm markets."

"Information is power when it's applied," said Preston McKenzie, vice president, Business of Law, West. "Bruce MacEwen is one of the preeminent analysts and strategists in the legal profession. Our webinars extend the information contained in Peer Monitor Index along with Bruce's analysis to a forum where law firm managing partners and CEOs can derive practical, actionable strategies for dealing with ever-changing market conditions, including law firm hiring, compensation and mergers."

"We¹re excited to offer the Adam Smith Esq. and PMI webinars," said Lee Ann Enquist, vice president, Professional Development, West LegalEdcenter. "They reflect the outstanding and timely online legal education content that is at the core of our mission. Everyone who¹s involved in managing a practice - from large law firms and corporations to solo practitioners, will benefit from the timely insight and analysis that these webinars offer."

The latest edition of Peer Monitor Index can be found at https://peermonitor.thomson.com

# # #

About West

Headquartered in Eagan, Minn., West is the foremost provider of integrated information solutions, software and services to the U.S. legal market. West is part of Thomson Reuters. For more information, please visit the West Web site at west.thomson.com.

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minn., Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange, Toronto Stock Exchange, London Stock Exchange and Nasdaq. For more information, go to www.thomsonreuters.com.
 
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Skadden

The Story of Adam Smith, Esq.

Adam Smith, Esq., LLC was founded in 2003 by Bruce MacEwen.  Its driving focus is on the business, economic and strategic issues facing sophisticated law firms as they face the challenges of practicing in the 21st Century. .

Our consulting encompasses guidance and counsel to help firms navigate in an increasingly competitive environment as well as capitalize on the opportunities and challenges presented by such diverse forces such as globalization and technology.  Core competencies include geographic and practice area focus, partnership structure, compensation and incentives, practice group management, mergers & acquisitions, associate and alternative career paths and client relationship management.  Our client list is confidential but is concentrated in the AmLaw 100, Magic Circle, Silver Circle UK firms, leading European, Canadian and emerging market firms.  We regularly speak at firm retreats and industry conferences, globally.

AdamSmithesq.com, our online publication, serves as a companion to the consulting and is consistent with the overall positioning of the company, focusing on the business and economics of the global legal sector.  The site currently generates about 4.2 million page-views per year or nearly 400,000 per month.  It reaches a global audience, though a preponderance of readers are in the US.  Of US readers, 45% are at AmLaw 50 firms and over 70% are at AmLaw 200 firms.  Readership skews to senior management and partners at these firms.  As of April 2011 over 1,100 articles have appeared, written by Bruce.

Adam Smith, Esq. is owned and managed by Bruce, who serves as President and Janet Stanton, a Partner who joined the company in 2007.  She brings an augmented business focus to Adam Smith, Esq., based on perspectives gleaned from other industries and professional service sectors.

Adam Smith, Esq. has received plaudits from many of the top practitioners in the industry.  We have also appeared in or been quoted in the most influential national international and business press as well as the most notable legal media.  Our online publication has been hailed as “must read” by thought leaders throughout the sector.

Bruce MacEwen received his undergraduate degree from Princeton, magna cum laude in Economics and earned his JD at Stanford Law.  He practiced at two distinguished firms in New York, Breed, Abbot & Morgan and Shea & Gould.  Following that, Bruce practiced in-house for 10 years at Morgan Stanley/Dean Witter.  Bruce is currently a Fellow in the College of Law Practice Management.  He is based in New York.

Janet Stanton graduated from Vassar College and then entered the business world, where she worked in brand management at Johnson & Johnson.  She also worked at respected advertising agencies such as Grey and Benton & Bowles.  She spent 16 years at Bates Worldwide, reaching the level of Executive Vice President and was then President of a mid-sized agency near Philadelphia.  Most recently, Janet served as Director of Client Relationships Program at Orrick, Herrington & Sutcliffe.  She is based in New York.

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