"Culture Keeps Firms Together in Trying Times," DealBook, New York Times
On September 24, 2012, Michael H. Trotter, was quoted in the article “Culture Keeps Firms Together in Trying Times” that appeared in the DealBook column of the New York Times. The article examines the hiring practices and cultural aspects of successful law firms despite the economic downturn, specifically firms that adhere to a strict lock-step compensation system, paying their partners in a narrow range according to seniority. Trotter believes that at a difficult time in the legal industry, and at a time when the failure of Dewey illustrates how much can go wrong in the existing competitive environment, it makes sense to look at the truly elite law firms that have done things right. The article encourages firms to revert to old-school standards in order to bring back partnership culture and client loyalty. For the full article Click here.