Quinn Emanuel Pioneered Themselves to Millions
This profile about Quinn Emanuel Urquhart & Sullivan LLP is eye-popping. Putting aside the profits for partner figures - also eye-popping - the story captures the thinking of a few entrepreneurs disguised as biglaw attorneys. Here you have a couple of lawyers who were comfortably earning "one or two million dollars in revenue per year" from the big banks deciding that they could multiply that if they were to sue the banks rather than represent them. In other words, go where no one else is going. Amazing.
Elsewhere in biglaw innovation, we couldn't help but chuckle at this sequence of events. On January 25, The American Lawyer reported that Reed Smith LLP "is the latest Big Law firm to implement health and wellness programs to combat the stresses often linked with life in the legal profession." And then on January 26, Bloomberg reported, "Workplace wellness programs have two main goals: improve employees’ health and lower their employers’ health-care costs. They’re not very good at either, new research finds."Womp womp. We're not knocking health and wellness and we are well aware that lawyers, in particular, suffer from high rates of depression (and alcoholism). But "not very good" isn't a great description for an expensive initiative. Maybe it helps with recruiting?