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Rees Morrison Morsels (#31) – tidbits added to previous posts

CEO turnover and general counsel departures. I wrote about the high risk period for a general counsel when the CEO is removed (See my post of May 14, 2005.). CEO turnover now matches the normal attrition rate for all employees. According to quarterly surveys by the research publisher BNA Inc., the typical employee turnover rate in the U.S. is about 12% per year, excluding layoffs and temporary employees. At 11.7%, the total rate of U.S. CEO departures in 2004 is equivalent to the overall rate of U.S. employee turnover, according to a 2005 study by Booze Allen and Hamilton.

Almost zero acceptance of early payment discounts. A survey done in February 2006 by Mahlab Recruitment and Harris Cost Lawyers produced data from members of the Australian Corporate Lawyers Association (ACLA). To the question, “Do any of your law firms discount bills for early payment?” the response was “no” for 95 percent (See my post of Aug. 26, 2005 about yawns from law departments on retainers paid quarterly in advance and Oct. 14, 2005 on retainers and prompt payment.).

Dual track settlement efforts. My friend Lew Goldfarb wrote about my recent comment (See my post of July 21, 2006). Goldfarb, a solo, concentrates his practice on “dual track settlement efforts while the litigation continues” and writes that it “is even more effective than having a defendant hire a major firm to attempt settlement. It’s less costly and avoids the competitive issues that would otherwise arise.” Good points