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	<title>Adam Smith, Esq.</title>
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	<link>http://www.adamsmithesq.com</link>
	<description>...an inquiry into the economics of law firms</description>
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		<title>Emerging Lessons</title>
		<link>http://www.adamsmithesq.com/2012/05/emerging-lessons/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=emerging-lessons</link>
		<comments>http://www.adamsmithesq.com/2012/05/emerging-lessons/#comments</comments>
		<pubDate>Mon, 14 May 2012 21:21:24 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Cultural Considerations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Partnership Structures]]></category>
		<category><![CDATA[Strategy]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2604</guid>
		<description><![CDATA[&#160; Beginning to emerge are lessons from the implosion of Dewey. I&#8217;ve believed, and written, for some time that the root causes of the failure, which is massive, spectacular, tragic, and utterly unnecessary, were self-inflicted:  Unintentional suicide by drug overdose, if you will. The question that matters for those of us left standing is what can [...]]]></description>
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		<slash:comments>3</slash:comments>
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		<title>&#8220;Dewey&#8217;s Fall Underscores Law Firms&#8217; New Reality&#8221;&#8212;from The New York Times</title>
		<link>http://www.adamsmithesq.com/2012/05/deweys-fall-underscores-law-firms-new-reality-from-the-new-york-times/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=deweys-fall-underscores-law-firms-new-reality-from-the-new-york-times</link>
		<comments>http://www.adamsmithesq.com/2012/05/deweys-fall-underscores-law-firms-new-reality-from-the-new-york-times/#comments</comments>
		<pubDate>Sat, 05 May 2012 21:30:49 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Cultural Considerations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[M&A]]></category>
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		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2595</guid>
		<description><![CDATA[OK, so we&#8217;re not quoted in the New York Times every day, and today we were, at not inconsiderable length, about Dewey. Here&#8217;s the The New York Times piece published on the front page of today&#8217;s Business section, by James Stewart. The photo is of three-time New York State Governor, Republican Presidential candidate (vs. Harry Truman), [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Dewey: 1909&#8212;2012</title>
		<link>http://www.adamsmithesq.com/2012/05/dewey-1909-2012/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=dewey-1909-2012</link>
		<comments>http://www.adamsmithesq.com/2012/05/dewey-1909-2012/#comments</comments>
		<pubDate>Tue, 01 May 2012 22:04:13 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Cultural Considerations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Partnership Structures]]></category>
		<category><![CDATA[Strategy]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2588</guid>
		<description><![CDATA[The unfolding Dewey story has surprised people only with its apparently inexhaustible capacity to continue surprising us, and with its reliable pattern of consistently surpassing our own worst fears about how many things can go wrong at one and the same law firm. With last night&#8217;s announcement that partners are being invited to seek &#8220;alternative [...]]]></description>
		<wfw:commentRss>http://www.adamsmithesq.com/2012/05/dewey-1909-2012/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
		</item>
		<item>
		<title>Change is hard. Perhaps you prefer decline?</title>
		<link>http://www.adamsmithesq.com/2012/04/change-is-hard-perhaps-you-prefer-decline/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=change-is-hard-perhaps-you-prefer-decline</link>
		<comments>http://www.adamsmithesq.com/2012/04/change-is-hard-perhaps-you-prefer-decline/#comments</comments>
		<pubDate>Mon, 16 Apr 2012 15:46:25 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Strategy]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2565</guid>
		<description><![CDATA[Imagine a firm that allocates its talent, investment, and management focus consistently every year, making incremental changes but following the same &#8220;steady as she goes&#8221; broad pattern year after year.  Imagine another firm that consistently evaluates the performance of practice areas and offices over time and adjusts the allocation of lawyers and other resources based [...]]]></description>
		<wfw:commentRss>http://www.adamsmithesq.com/2012/04/change-is-hard-perhaps-you-prefer-decline/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Santayana</title>
		<link>http://www.adamsmithesq.com/2012/04/santayana/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=santayana</link>
		<comments>http://www.adamsmithesq.com/2012/04/santayana/#comments</comments>
		<pubDate>Fri, 06 Apr 2012 21:33:03 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2551</guid>
		<description><![CDATA[Q:  What do these firms have in common? Allen &#38; Overy Baker &#38; McKenzie Bryan Cave Clifford Chance Cooley Dechert Dewey DLA Piper Fitzpatrick Cella King &#38; Spalding Kramer Levin Kronish Lieb Linklaters Lowenstein Sandler Morrison &#38; Foerster Orrick Patterson Belknap Paul Weiss Ropes &#38; Gray SNR Denton Sutherland Venable Vinson &#38; Elkins Wachtell White [...]]]></description>
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		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>Lateral Hires &amp; Guarantees Deconstructed</title>
		<link>http://www.adamsmithesq.com/2012/03/lateral-hires-guarantees-deconstructed/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=lateral-hires-guarantees-deconstructed</link>
		<comments>http://www.adamsmithesq.com/2012/03/lateral-hires-guarantees-deconstructed/#comments</comments>
		<pubDate>Fri, 30 Mar 2012 21:32:32 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Partnership Structures]]></category>
		<category><![CDATA[Practice Group Management]]></category>
		<category><![CDATA[Recruiting]]></category>
		<category><![CDATA[Strategy]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2540</guid>
		<description><![CDATA[A Wharton School professor has analyzed the performance, and pay levels, of external hires vs. internal staff promotions.  He used personnel data from a division of a major US investment bank for 2003—2009, and the characteristics of that talent market are remarkably similar to our own: Investment banking, [Professor Matthew] Bidwell writes, represents &#8220;an interesting [...]]]></description>
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		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Dewey II</title>
		<link>http://www.adamsmithesq.com/2012/03/dewey-ii/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=dewey-ii</link>
		<comments>http://www.adamsmithesq.com/2012/03/dewey-ii/#comments</comments>
		<pubDate>Fri, 23 Mar 2012 16:52:37 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Business Models]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Cultural Considerations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
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		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2528</guid>
		<description><![CDATA[The reaction to my last column on the developments at Dewey has been as strong as to any piece I can remember writing in the near-decade Adam Smith, Esq. has been around.   But for those of you who may be feeling overdosed on Dewey coverage, events are not letting the topic die—to the contrary, the firm&#8217;s [...]]]></description>
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		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>Allen &amp; Overy&#8217;s Annual Review: Compared to Yours?</title>
		<link>http://www.adamsmithesq.com/2012/03/allen-overys-annual-review-compared-to-yours/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=allen-overys-annual-review-compared-to-yours</link>
		<comments>http://www.adamsmithesq.com/2012/03/allen-overys-annual-review-compared-to-yours/#comments</comments>
		<pubDate>Thu, 22 Mar 2012 11:52:21 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Branding]]></category>
		<category><![CDATA[Business Models]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Marketing]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2521</guid>
		<description><![CDATA[From Allen &#38; Overy&#8217;s 2011 Annual Review, which I happened to pick up in a visit to one of their offices last week, come some thoughtful essays you wouldn&#8217;t expect to find were it the usual firm&#8217;s &#8220;higher, faster, bigger, stronger, better, wider, longer, lower&#8221; sort of exercise in self-congratulatory high-gloss prose. A sampling. From Professor [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Dewey:  1909&#8212;??</title>
		<link>http://www.adamsmithesq.com/2012/03/dewey-1909/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=dewey-1909</link>
		<comments>http://www.adamsmithesq.com/2012/03/dewey-1909/#comments</comments>
		<pubDate>Fri, 16 Mar 2012 21:33:26 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Adam Smith Himself]]></category>
		<category><![CDATA[Articles]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[Cultural Considerations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Partnership Structures]]></category>
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		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2504</guid>
		<description><![CDATA[Two firms have this week received far more press attention than, one suspects, they counted on or quite know how to cope with:  Our own industry&#8217;s Dewey LeBoeuf, and of course the iconic (good and bad sense) Goldman Sachs. Goldman Let&#8217;s take Goldman first.  Its moment—which is displaying a half-life far longer than the typical [...]]]></description>
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		<slash:comments>6</slash:comments>
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		<item>
		<title>&#8220;The Best &amp; The Brightest&#8221;</title>
		<link>http://www.adamsmithesq.com/2012/03/thebestandbrightest/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=thebestandbrightest</link>
		<comments>http://www.adamsmithesq.com/2012/03/thebestandbrightest/#comments</comments>
		<pubDate>Fri, 09 Mar 2012 21:46:59 +0000</pubDate>
		<dc:creator>Bruce</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Law Schools]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Recruiting]]></category>

		<guid isPermaLink="false">http://www.adamsmithesq.com/?p=2494</guid>
		<description><![CDATA[The National Law Journal just published a wealth of information, derived from NALP statistics, about which law schools send the greatest number of their graduates to NLJ 250 firms as first-year associates, and-this is the really fun part-how many graduates of those schools make partner at  NLJ 250 firms (for symmetry, think of this as &#8220;first-year [...]]]></description>
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		<slash:comments>3</slash:comments>
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