Monthly Archives: January 2015
Eagan, Minn., (PRWEB) December 4, 2008 –
Like the financial markets, the legal market exhibited significant swings in performance in the third quarter, with the Peer Monitor Economic Index (PMI) from West falling two points from the second quarter. Continued weak demand and low productivity for law firms dragged the PMI down despite a rebound in demand late in the quarter.
Click here for a Podcast featuring commentary on the 3Q PMI by Peer Monitor National Manager, Mark Medice.
PMI is a composite index of law firm market performance using real-time data drawn from major law firms in the U.S. and key international markets. As the economy slows, PMI has been trending lower, dropping in 5 of the last 7 quarters.
Top 100 law firms are experiencing weaker demand than most other firms. While key practice areas, such as corporate work, continue to slow, the economic turmoil is creating increased demand for counter-cyclical practice areas. Bankruptcy fees are up over 17% compared with a year ago. Regulatory work associated with finance and securities is up 30%. The third quarter also saw the first signal of a slowdown in IP work.
Firms are trying to control expenses in order to mitigate the impact of slowing demand. Associate hiring is slowing as firms seek to balance headcount with demand. In addition, firms are reining in their expense growth.
“There appears to be greater uncertainty in forward planning than seen in more recent years,” said Mark Medice. “A particular concern is the prospect of a drop in Q4 collections. Many firms are experiencing collection issues and are already taking precautionary actions to mitigate any downside effects on profitability.”
Continued economic stress could lead to significant changes to the legal industry, including an accelerated rate of consolidation and underlying structural business model changes, such as increased investment in counter-cyclical practice areas. For some firms, the economic turbulence may lead to opportunities for strategic expansion, new practice areas and targeted geographic office openings.
For more information about the PMI and to review the latest PMI report, visit http://peermonitor.thomson.com.
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 http://www.thomsonreuters.com.
6 On Your Side Answers: How to get out of holiday debt
KNOXVILLE (WATE) – Getting out of debt can be easier said than done. Now that all of those Christmas purchases are beginning to show up, what do you do? Plenty of you are starting the new year with extra debt. CreditCards.com keeps records which show …
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Utilising EPF savings does nothing to help those in debt
I refer to Hafidz Baharom's piece, “Time to really help individuals in debt”. I must say there are many points on which I disagree with him. I do agree that many people, especially the young, are in debt. However I disagree that using their EPF savings …
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Many local people don't believe they will ever get out of debt
The vicious cycle of accruing debt from student loans, credit cards and mortgages and not having the money to pay it off due to a scarcity of jobs and stagnant wages, doesn't appear to be breaking anytime soon, said Arthur Friedberg, professor of …
Read more on Little Falls Evening Times
Prominent Russian art expert released from under house arrest
ST. PETERSBURG, January 30 (RAPSI, Kirill Chulkov) – The Dzerzhinsky District Court of St. Petersburg on Friday granted a motion filed by prominent Russian art expert Yelena Basner, charged with fraud, to release her from house arrest, her attorney …
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News outlets file legal briefs seeking information in murder of McStay family
This week, CBS News 8 — along with 17 regional and national news organizations — filed legal briefs in San Bernardino and San Diego, seeking public release of more than 60 search warrants served in the case since the McStay family went missing in …
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Russia brings new charges against Ukrainian pilot Savchenko – lawyer
MOSCOW, January 29 (RAPSI) – Russian authorities have brought new charges against Ukrainian pilot Nadezhda Savchenko who stands accused of complicity in the murder of Russian journalists, RIA Novosti reported on Thursday, citing her lawyer Ilya …
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Constitutional court to hear complaints about prosecutors' inspections
The Presidential Council on Human Rights believes that the contested norms encourage prosecutors to conduct these inspections on the grounds of receiving “information” about the alleged violation of laws by NGOs. However, Mikhail Barshchevsky, a …
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Philadelphia, PA (PRWEB) November 16, 2014
The company BestDebtConsolidationLoans.org recently undertook an analysis of credit consolidation companies in Philadelphia. It concluded that the best three are National Debt Relief, CuraDebt and Consolidated Credit.
“We saw that residents of Philadelphia have an average of $ 62,280 in total debt of which $ 6657 is credit card debt. This total amount of debt compares very unfavorably with the average total debt per American with a credit file of just $ 53,850. In addition, Pennsylvanians had an average annual income in 2012 of $ 50,228 making it clear why so many of them are struggling with bad debt.
“We were also concerned because Pennsylvania has an unemployment rate of 5.7%”, said BestDebtConsolidationLoans.org spokesperson Jimmy Saver. “We felt that based on these statistics it was important to learn which would be the best three credit consolidation companies available to Philadelphians.
“We used six factors in analyzing these companies,” Saver continued. “They were customer satisfaction, debt solution alternatives, fees, customer service, business ethics and financial standing. National Debt Relief scored very highly in all of these areas, especially business ethics. The funds its customers send to National Debt Relief are placed in a trust account that only they can manage. When it settles a debt to a customer’s satisfaction he or she releases the funds, which National Debt Relief then uses to pay for the settlement. In addition, National Debt Relief charges nothing for its services until it has settled all of a customer’s debts satisfactorily and he or she has approved a payment plan.”
National debt relief has consistently maintained an A Rating with the Better Business Bureau and is a member of the American Fair Credit Council.
“National Debt Relief also scored highly in customer satisfaction as the majority of its customers have said they were “very satisfied” with the company’s services. Plus, it never charges its customers any upfront or maintenance fees,” said Saver.
The company ranked second best for bad credit debt consolidation is CuraDebt. It scored highly in customer service in that it can help its customers not just with bad credit card debt but also with tax debts, student loan debts and the defaulted loans. The company has been in business for more than 13 years and offers prospective customers a free initial consultation and free savings estimate. BestDebtConsolidationLoans.org also gave CuraDebt high marks because it has good working relationships with the credit card companies and is almost always able to keep the promises it makes to its customers in terms of bad debt consolidation.
Ranked third for bad credit debt consolidation is Consolidated Credit. Saver noted that, “The problem we had with this company is that it offers only one solution – consumer credit counseling.” On the positive side, Consolidated Credit does offer a free debt evaluation. Based on this evaluation, a Consolidated Credit counselor will recommend the best debt consolidation option for that particular customer. In many cases that option will be a debt management plan. When this is the case, Consolidated Credit tells the customer how much they will be required to pay each month and how long it will take to complete his or her plan. “Credit counseling can be a good way to get debts consolidated,” remarked Saver, “but for some people it will not be as good an alternative as, say, debt settlement.”
Residents of Philadelphia that are having a problem with bad credit card debt and would like to learn more about these companies should go to the website http://www.BestDebtConsolidationLoans.org for more information.
Teen retailer Wet Seal files for bankruptcy protection
Wet Seal estimates its assets to be between $ 10 million and $ 50 million, according to its bankruptcy filing. Liabilities are estimated between $ 100 million and $ 500 million. The company's largest creditor is Hudson Bay Master Fund Ltd. Other big …
Read more on Columbia Daily Tribune
Coast's largest builder files for bankruptcy
Wakefield, which also has offices in Vancouver and West Vancouver, filed for creditor protection on January 9. The same day, a bankruptcy hearing was held, according to insolvency consultants Boale, Wood & Company of Vancouver. “I was shocked,” said …
Read more on Business in Vancouver
San Francisco, CA (PRWEB) November 25, 2014
Debt is becoming a mainstream issue in modern society. As such, debt consolidation is a service that many individuals feel that they need. 10 Best Debt ranks these debt consolidation companies after careful evaluation.
The number one debt consolidation firm is National Debt Relief, based in New York, NY. The current best debt consolidation firm specializes in aiding customers with non-secured debts. The company offers debt consolidation programs and educational resources to overwhelmed customers who are trying to avoid bankruptcy proceedings and constant calls from collection agencies. This company also offers student loan consolidation programs; these are designed to help students pay as little as possible through minimize interest charges, collection charges, and additional fees. They pride themselves on their excellent customer service.
The second leading debt settlement agency is American Debt Enders, also located in New York, NY. This company provides people with credit counseling for debt relief. The highly qualified counselors will gather information and present the best options for the person and their circumstances. This company has received many positive reviews for their work in debt settlement and consolidation.
Third on the list is Trident Debt Solutions, based in Denver, Colorado. This company is led by an experienced bankruptcy attorney and is staffed with many attorneys who offer services such as credit card negotiation, debt settlement, and bankruptcy. They have received an A+ rating from the Better Business Bureau. Overall, they have given overwhelmed families over four million dollars in debt relief. This company guarantees clients that they can decrease their total unsecured debt by at least 30 percent or else the services will be free of charge.
Related Debt Solutions Press Releases
Albany, New York (PRWEB) January 27, 2015
Law firm Iseman, Cunningham, Riester & Hyde LLP (ICRH) served as a sponsor of a Wing Fest fundraising event held January 18 in support of a new children’s playground to be built in the Dutchess County town of East Fishkill, New York.
Construction of Julie’s Jungle, an adaptive playground, is scheduled to begin this spring and is being made possible through the support of generous community contributions.
The inspiration for the playground’s namesake is Julie Keating who passed away in 2007 at age 15. She used a wheelchair for mobility but loved playing outside. Her sister Natalie Keating, now 15, made a proposal for an adaptive playground in memory of her sister to local town officials in 2012 through a letter sent as part of an English class writing assignment.
ICRH managing partner John F. Queenan attended the Wing Fest and was pictured in a photograph which accompanied a news feature about the event in the January 19 print edition of the Poughkeepsie Journal which can be viewed here.
About Iseman, Cunningham, Riester & Hyde LLP
Iseman, Cunningham, Riester & Hyde LLP has extensive experience in litigated and transactional matters and represents clients in many areas of law, including health care; insurance; financial; professional liability; construction; retail; municipal; nonprofit and real estate. As experienced counselors, negotiators and litigators, the firm’s attorneys advise clients on complex transactions and disputes; bond financings; securities claims; tax planning; creditors’ rights including workouts and bankruptcy; professional licensing, and labor and employment, including collective bargaining negotiations.
Iseman, Cunningham, Riester & Hyde LLP is a member of the International Society of Primerus Law Firms.
Related Bankruptcy Press Releases
Manhattan, New York (PRWEB) January 21, 2015
When a person’s finances are out of control, everything seems more difficult. Calls and letters from creditors and the suffocating feeling of debt is enough to upset almost anyone. In times like these, bankruptcy may seem like the only hope.
Unfortunately, however, many people use bankruptcy as a last resort, and they wait too long to file the necessary paperwork. Attorney Gabriel Katzner recognized this problem and worked with Foster Web Marketing, the premier lawyer marketing firm, to develop a new website to help those overwhelmed with debt get the information they need about how the bankruptcy process works.
The Katzner Law Group is a Manhattan-based firm that takes a unique, three-pillar approach to bankruptcy relief. The first pillar involves debt elimination. The second pillar entails aggressive action against creditors for unlawful behavior, which helps keep money in the pockets of those who are pursuing bankruptcy relief. The third pillar offers hope for rebuilding a strong financial base for the future in the form of a proven credit-rebuilding course. With these three pillars, Gabriel Katzner offers a wider range of services than most bankruptcy law firms—a significant benefit to those struggling with debt.
On the new website, the Katzner Law Group informs visitors about the three pillars, while guiding them along the path to financial freedom. By helping people stay informed, the bankruptcy law firm gives clients and website visitors the necessary tools to move forward in a positive way.
The Katzner Law Group website also shows people that bankruptcy is not the end of the world. With the help of Gabriel Katzner, clients overcome the unfair social stigma associated with filing for bankruptcy as they work to become debt free. In addition to the helpful articles, answers to common questions, blog pieces, and news items, Gabriel Katzner also offers website visitors additional support in the form of a free guide to the basics of bankruptcy. With this guide, they can get a clear understanding of what to expect from the bankruptcy process—information that will help them sleep better at night.
The Katzner Law Group website will continue to be updated regularly with relevant information, answers to questions, news, blogs, and more.
About Foster Web Marketing:
Founded in 1998, Foster Web Marketing (FWM) offers attorneys, physicians, and other professionals across North America and overseas an effective online marketing approach that combines appealing and intuitive design with the latest search engine optimization, comprehensive marketing services, and content management strategies. FWM has proven that it is possible to build a “Made in the USA” business with excellent customer service in a very competitive market, all while helping its clients succeed through powerful websites and proven education-based marketing techniques using its proprietary “secret weapon,” Dynamic Self-Syndication (DSSTM). To learn more, please visit http://www.FosterWebMarketing.com.
Atlanta, GA (PRWEB) January 07, 2015
C2C Resources, a commercial debt collection company, released a tip sheet today with the top five New Year’s resolutions to stimulate business growth in 2015.
According to a study by the University of Scranton, Journal of Clinical Psychology released last year, people who explicitly make resolutions are 10 times more likely to attain their goals than people who do not. Todd Tinkler, President of C2C Resources, believes the same holds true for businesses.
“Business planning and goal setting are essential for not only achieving growth throughout the year, but understanding the source of the growth,” explained Tinkler. “Start by making every day of work matter. Don’t think of January as just the slow down month after a busy holiday season. Utilize any slowdown you experience by updating your goals and strategies for the New Year.”
Tinkler believes businesses should make these five resolutions to promote growth throughout the upcoming year:
1. Reassess their marketing and business growth strategies.
2. Improve their credit scores.
3. Show gratitude to current customers.
4. Work to improve the customer experience and pipeline.
5. Plan campaigns during the first quarter for the entire year.
“It’s all about starting early to prepare for the upcoming quarters,” continued Tinkler. “Business growth doesn’t happen overnight. It takes strategic planning and brand advocacy to keep it going!”
For more discussion on the topic, visit the recently released C2C Resources blog: http://www.c2cresourcesblog.com.
About C2C Resources:
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 25,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.
C2Cs powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection.
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