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Benjamin N. Cardozo School of Law - Yeshiva University (New York City)
New York City, New York 122 Followers 119 Discussions
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After his father's death, a young man, Walt (Andrew J. West), moves to his dad's hometown in order to learn more about who his father was.
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Gaming/
Apps/
Games Review
'Angry Birds Go' review: how free-to-play ruined the 'Mario Kart' of mobile
By Andrew Webster
Angry Birds Go
With Angry Birds Go, developer Rovio is beating Mario Kart at its own game, and it's doing it on the most popular platform there is: mobile. It features all of the right ingredients, including a cast of familiar and adorable characters, a charming and colorful presentation, and gameplay that's both easy to pick up and incredibly fun. But that potential is squandered — in the shift to free-to-play, Rovio has turned a great game into an annoying experience filled with incessant calls to spend more money.
You start out with just one racer — the iconic red bird — and one car, and as you play you'll earn cash that can be used to upgrade your vehicle and purchase new ones. There's actually a good amount of variety to the races: in addition to standard sprints to the finish line, there are also time trials where the track is littered with obstacles, and special events where you'll need to smash as much fruit as possible. There are also what are essentially boss races, where you have to defeat one of the Angry Birds cast members in order to unlock them as a playable character. The controls are dead simple — you can turn left and right, using either touch or tilt controls, and you accelerate automatically — but the physics feel good and there are plenty of power-ups to mess around with.
These races are all fun, but the game's structure necessitates lots of grinding. In order to enter later races you'll need to continually upgrade your car, which means you'll have to play through races multiple times to raise the cash, unless you want to spend some real-world dollars. It's a setup that will be intimately familiar to fans of the Asphalt series. However, it wouldn't be such a big deal if it weren't for Angry Birds Go's most obnoxious feature: an energy system that limits how much you can play at any given time.
There's an energy system that limits how much you can play
Just like in many Facebook games and mobile titles like Candy Crush Saga, you're given five units of energy per character, which deplete with each race and slowly regenerate over time. It takes more than 10 minutes for a unit to recharge, and when you run out, you can't play. The issue lessens as you unlock more characters, thus giving you more energy, but even then you'll still find yourself regularly sitting around and waiting to play (again, unless you want to spend some cash). Unlocking those new characters is a painfully slow process thanks to the limitations of the energy system.
The majority of the cars, including all of the ones that don't look like a boring wooden box, also need to be bought. You can do this as an in-app purchase, or, like in Angry Birds Star Wars II, by splurging on physical Angry Birds Go figures that can be imported into the game by scanning their QR codes. The toys are actually quite nice, tiny little cars that you can play with in real life, but it's annoying just how little content you're given with the initial download. The really good cars can't be purchased with in-game currency either, so you'll definitely need to spend money to use them, and they cost anywhere from $2.99 to a staggering $49.99.
Cars range from $2.99 to a staggering $49.99
Less intrusive but still annoying are the incessant ads, which at their worst come in the form of sponsored power-ups. You can add an extra boost to your car with an engine that spews Pepperidge Farm Goldfish crackers, or fix your kart mid-race with a little help from State Farm insurance. The ads all feel incredibly out of place and cheapen an otherwise enjoyable experience.
Free-to-play games aren't universally evil — Plants vs. Zombies 2 showed that it's possible to have a free game with in-app purchases that aren't constantly begging you for cash. Angry Birds Go, meanwhile, feels like a step in the opposite direction. It's a terrific, well-crafted experience perfectly suited to mobile devices, but its design is hampered by its free-to-play structure — it's a great game that's no fun to play. It's especially surprising considering how generous Rovio has been with content in the past; the original Angry Birds still receives free updates to this day. Angry Birds Go is a game that forces you to decide whether you want to pay or wait, and that's never fun.
Though it might give you a craving for delicious Goldfish crackers.
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Splitgate Crossplay Guide
When it comes to online multiplayer games, Splitgate has a wide variety of features. Voice chat is available for players, and the game allows up to 175k players to join at once. There are also plenty of features for players to enjoy outside of the game. You can also switch between your friends lists and enjoy the convenience of having up to eight players at a time. However, as with any online gaming experience, there are some drawbacks to this one, as well.
Voice chat is available in Splitgate
Voice chat is now available in Splitgate crossplay, but the feature is not yet working as intended. If you want to use voice chat in Splitgate, you'll need to press the Push to Talk key in your game menu and you'll hear other players' responses. While there are no known bugs yet, the feature is still being tested and some players are experiencing problems with it. Fortunately, there's a fix! Follow our Splitgate crossplay guide for more tips and tricks.
Many players are reporting problems with the voice chat feature on Splitgate. The developer has already acknowledged this issue and is working to fix it via a future update. If you want to use voice chat in Splitgate, you can also follow the specific steps to restart the game in question. Otherwise, you can try some workarounds to fix the issue. For now, however, there is no official fix for the issue yet.
Although Splitgate is still in beta, developers have promised to fix the problem in their next update. The next update will come to PS5 and Xbox Series X/S and will include improvements to the game. The developers have also promised to fix the bug in the next update, and meanwhile, players can look forward to the first season of Splitgate. There's also a good chance that this bug will disappear completely once the game enters a stable beta phase.
The recent Splitgate update also adds new features such as a featured playlist and Nvidia Reflex support for PC players. The new update will be available on all platforms and will improve quality of life and the voice chat in the game. Voice chat is now available in Splitgate crossplay and will remain active even in the middle of a game. This is good news as the voice chat was previously reported to drop off in the middle of a match.
Players can switch between friends lists
Splitgate is a free-to-play competitive team game that lets you play with your friends on PC or consoles. Unlike many other games, you can switch between your friends' lists and gain extra XP when playing with other players. The game also supports cross-progression between platforms. However, players should be aware that cross-platform play requires a separate account and will not be possible without a Steam key.
To switch between friends lists and play online matches, players must first add a friend in the game. This requires the game ID code of the friend. They must add the ID code to the game's Add Friends tab. Once the friend has been added, they can play with you or against you in the game. The game includes several modes and visually attractive maps. You can also play against your friends or join a team and defeat your opponents.
While the game is cross-platform, the PlayStation and Xbox versions have their own features. The PlayStation version has exclusive maps and skins. Xbox One players can play with Xbox Series X/S players in the same game lobby. Using cross-platform cross-play is a great way to connect with friends on different platforms. This way, you don't have to worry about missing a friend when you're playing against another player.
To enable cross-platform cross-play, players need to add a friend via the Splitgate ID. Once the friend is added, they must accept the friend request. The feature is enabled by default, but you can turn it off by going to the Settings tab. If you don't want your friends to know you're playing with them, you should disable cross-platform cross-play. However, be aware that this will slow down the matchmaking process.
Up to eight players can play at a time
If you've ever played Halo or Portal online, you'll love Splitgate. This free-to-play competitive game allows you to play with friends on PC or consoles without the hassle of purchasing or downloading a multiplayer game. Splitgate features crossplay and cross progression, so you can play with as many people as you want. You can play with up to eight players at a time, which is great news for multiplayer game lovers.
Splitgate features a matchmaking system based on player wins and losses, which reduces griefing and player boosting. In the game, you can play as a team or alone, and all players start with the same loadout, so you can choose the best strategy for the team you're playing with. In Splitgate, players can use power weapons, which spawn across the map on a timer. Beginners can pick up and play right away, thanks to the simple FPS controls. The portal mechanics make it easy for even beginners to play, but you'll have to constantly learn strategies and think about how to use them to win.
Because of the popularity of this game, Splitgate's cross-platform support is now available for Xbox One, PS4 and PS5 games. As a result, players can play with friends on different platforms, minimizing the wait time in lobbies. Moreover, the cross-platform nature of the game helps expand its player base. It also makes matchmaking time shorter and increases game life.
The unique premise of Splitgate is what makes the game stand out from other competitive shooters. With its unique portal system, players can connect two locations without leaving their current locations. In addition to allowing them to cross through, this game also allows players to communicate with each other and share information. The multiplayer mode lets up to eight players play at a time, and this is great for groups of friends looking to share the same goals and objectives.
Up to 175k players can play at once
After its open beta launch in early July, Splitgate has grown in popularity, going from four thousand players to over 175,000 in just a few weeks. However, the game's popularity was halted twice in recent weeks as the 1047 team worked to optimize the servers. If you don't want to be disturbed by notifications when playing, you can disable them in the game's settings.
Splitgate has seen a meteoric rise in popularity since its launch on Xbox One and PlayStation 4. Originally, it was only able to handle up to six-thousand players, but after the open beta ended, the game's servers were already bursting at the seams. After the launch, however, the developers were able to expand the game's capacity to hold up to 175k players at a time.
To enable Splitgate crossplay, you need to add a friend to your friends list. You can do this by selecting the person's name in the "Friends" tab. Then, you'll need to accept the friend request. By default, this option is enabled, but you can also disable it in your privacy settings. This feature will increase the time it takes to match you with a friend.
The team behind Splitgate has said that they plan to increase the number of servers they have. The developers have compared this to a restaurant that has 2000 tables. Adding more servers and more cooks will require more ingredients. In response to the growing demand for the game, Splitgate has delayed its full release. Fans of the game have been patiently waiting for it. You can now play Splitgate with up to 175k players.
Limitations of Splitgate crossplay
The first game to use Splitgate's cross-platform multiplayer functionality was Halo: Reach in July 2017. The game is based on the popular MMO, so it's no surprise that the team has worked hard to get it right. Despite the fact that Halo: Reach has over 100 million players, many people are still not aware of Splitgate's cross-platform capabilities. This is why players are being told to wait for as long as an hour to join a game. This isn't the case. Those waiting to join a match may be forced to wait an hour or more.
Another disadvantage of Splitgate crossplay is that it isn't supported on all consoles. This means that you must wait to play with your friends before they can play with you. This feature can be disabled manually, but you have to wait for other players to finish their turn. And last but not least, it's not free! In fact, many console games have a paid version that lets you crossplay with friends.
In addition to this, the game has a smaller player base than it did before. Nevertheless, it is still a very good option for players who want to play with other players from any platform. However, the disadvantage of crossplay is that players are unable to turn it off and may have to wait a long time to join another game. This is a disadvantage to many players, but it's something to be aware of before you play Splitgate online.
Although it's important to note that the game isn't perfect, there are still plenty of benefits. First of all, it lets you play with your friends across different platforms. This is an important feature for gamers because it helps to expand their game community and meet new friends. And secondly, it also helps to make multiplayer games easier. It isn't easy to create cross-platform games, so if your friends want to play online, you must take the time to figure out how to do it.
Disadvantages of Splitgate Crossplay
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just postponed the meeting with congress scheduled to start in 17 minutes. How damn rude!
A meeting between President Barack Obama and congressional leaders planned for Monday afternoon has been postponed, the White House announced, saying the delay would allow Senate leaders time to continue negotiating a compromise to end the partial government shutdown and avoid a U.S. default as soon as Thursday.
Negotiations heated up Monday on a Senate compromise to end the partial government shutdown and avoid a possible U.S. default, with congressional leaders heading to the White House after talks cited as progress toward a deal.
Did making sandwiches for the orphans just wear him out?


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Tag Archives: equity partners
TREATING SYMPTOMS; IGNORING THE DISEASE
Posted on June 1, 2017 by thebellyofthebeast
On May 22, 2017, The Wall Street Journal ran an article about the legal profession's enduring problem: psychological distress. For decades, attorneys have led most occupations in the incidence of serious psychological afflictions — depression, substance abuse, even suicide. Now some law firms are "tackling a taboo," namely, the mental health problems of their lawyers.
Some observers theorize that a special "lawyer personality" is the culprit. In other words, we have only ourselves to blame, so no one should feel sorry for us. Then again, no one ever feels sorry for lawyers anyway. But attorney psychological distress has become a sufficient problem that, as the Journal reports, some big law firms are now "offering on-site psychologists, training staff to spot problems, and incorporating mental health support alongside other wellness initiatives."
Stated differently, law firms are following the unfortunate path that has become a dominant approach in the medical profession: treating symptoms rather than the disease. Perhaps that's because law firm leaders know that curing it would cut into their personal annual incomes.
Other workers have serious psychological challenges, too. But attorneys seem to suffer in disproportionately high numbers. The Journal article cites a 2016 study of US lawyers finding that 20.6 percent of those surveyed were heavy drinkers (compared to 15.4 percent for members of the American College of Surgeons). Likewise, 28 percent experienced symptoms of depression (compared with eight percent or less for the general population). According to a 2012 CDC study cited in the Journal, attorneys have the 11th-highest suicide rate.
Now add one more data point. According to an ABA survey in 2007, lawyers in big firms are the least satisfied with their jobs. Anyone familiar with the prevailing big firm environment knows that it has deteriorated dramatically since 1985.
What has changed? For starters, just getting a job at a big law firm is more difficult. Corporate clients have found cost-effective alternatives to young attorneys billing $300 an hour to review documents. At many firms, demand remains soft.
But the real psychological problems begin after a new associate enters the door. For most of them, promotion to equity partner has become a pipe dream. In 1985, 36 percent of all lawyers in The American Lawyer's first survey of the nation's fifty largest firms were equity partners. In 2016, the comparable number was under 22 percent. More than 40 percent of all AmLaw 100 partners are now non-equity partners. The leverage ratio of equity partners to all attorneys has doubled. Stated another way, it's twice as difficult to become an equity partner today as it was in 1985. That's what's been happening at the financial pinnacle of the profession.
There is nothing inevitable about the underlying business model that produces these outcomes. It's a choice. In 1985, average profits per partner for the Am Law 50 was $300,000 — or about $700,000 in 2017 dollars. Today's it's $1.7 million. And the gap within most equity partnerships reflects their eat-what-you-kill culture. Instead of 3-to-1 in 1985, the ratio of highest-to-lowest partner compensation within equity partnerships often exceeds 10-to-1. As the rich have become richer, annual equity partner earnings of many millions of dollars has become commonplace.
At what cost? The future. As law firm leaders rely upon short-term metrics — billings, billable hours, and leverage ratios — they're pulling up the ladder on the next generation. Too many associates; too few equity slots. Let the contest begin!
But rather than revisit the wisdom of the model, some big firm leaders have made what the Journal characterizes as a daring move: bring in a psychologist. It's better than nothing, but it's a far cry from dealing with the core problem that starts with the billable hour, moves through metrics that managers use to maximize short-run partner profits, and ends in predictable psychological distress — even for the so-called winners. The Journal notes that a psychologist at one firm was offering this sad advice to its attorneys: Take a cellphone reprieve by turning off all electronic devices between 2:00 am and 6:00 am.
But even such input from mental health professionals seems anathema to some firm leaders. According to the Journal, Dentons' chairman Joseph Andrew says that his fear of offering an on-site psychologist was that "competitors will say we have crazy lawyers."
Former Acting Attorney General Sally Yates recently told the New Yorker about her father, an attorney who suffered from depression and committed suicide. "Tragically," Yates said, "the fear of stigma then associated with depression prevented him from getting the treatment he needed."
For some firm leaders, "then" is still "now." And that's truly crazy.
Posted in Associates in BigLaw, Biglaw trends?, Law and Medicine, News You Might Have Missed	| Tagged Am Law 100, American Lawyer, associate lawyers, associates, attorneys, big law firms, biglaw, Billable Hours, Dentons, equity partner profits, equity partners, Joseph Andrew, large law firms, law firm business model, Law firms, law partners, lawyer depression, Lawyer substance abuse, lawyer suicide, legal profession, leverage, leverage ratio, metrics, Sally Yates, unhappy lawyers	| Leave a reply
ASSOCIATE PAY AND PARTNER MALFEASANCE
Cravath, Swaine & Moore raised first-year associate salaries from $160,000 to $180,000 — the first increase since January 2007. As most law firms followed suit, some clients pushed back.
"While we respect the firms' judgment about what best serves their long-term competitive interests," wrote a big bank's global general counsel, "we are aware of no market-driven basis for such an increase and do not expect to bear the costs of the firms' decisions."
Corporate clients truly worried about the long-run might want to spend less time obsessing over young associates' starting salaries and more time focusing on the behavior of older attorneys at their outside firms. In the end, clients will bear the costs of short-term thinking that pervades the ranks of big firm leaders. Some already are.
Well-paid lawyers never generate sympathy. Nor should they. All attorneys in big firms earn far more than most American workers. But justice in big law firms is a relative concept.
Back in 2007 when associate salaries first "jumped" to $160,000, average profits per equity partner for the Am Law 100 were $1.3 million. After a slight dip to $1.26 million in 2008, average partner profits rose every year thereafter — even during the Great Recession. In 2015, they were $1.6 million — a 27 percent increase from seven years earlier.
In 2007, only 19 firms had average partner profits exceeding $2 million; in 2015 that group had grown to 29. But the average doesn't convey the real story. Throughout big law, senior partners have concentrated power and wealth at the top. As a result, the internal compensation spread within most equity partnerships has exploded.
Twenty years ago, the highest-paid equity partner earned four or five times more than those at the bottom. Today, some Am Law 200 partners are making more than 20 times their lowest paid fellow equity partners in the same firm.
Meanwhile, through the recent prolonged period of stagnant demand for sophisticated legal services, firm leaders fueled the revolution of partners' rising profits expectations by boosting hourly rates and doubling leverage ratios. That's another way of saying that they've adhered stubbornly to the billable hours model while making it twice as difficult for young attorneys to become equity partners compared to 25 years ago.
The class of victims becomes the entire next generation of attorneys. Short-term financial success is producing costly long-term casualties. But those injuries won't land on the leaders making today's decisions. By then, they'll be long gone.
Why should clients concern themselves with the culture of the big firms they hire? For one answer, consider two young attorneys.
Associate A joins a big firm that pays well enough to make a dent in six-figure law school loans. But Associate A understands the billable hour regime and the concept of leverage ratios. Associate attrition after five years will exceed 80 percent. Fewer than ten percent of the starting class will survive to become equity partners. Employment at the firm is an arduous, short-term gig. In return for long-hours that overwhelm any effort to achieve a balanced life, Associate A gets decent money but no realistic opportunity for a career at the firm.
Associate B joins one of the few firms that have responded to clients demanding change away from a system that rewards inefficiency. Because billable hours aren't the lifeblood of partner profits, the firm can afford to promote more associates to equity partner. Associate B joins with a reasonable expectation of a lengthy career at the same firm. Continuity is valued. Senior partners have a stake in mentoring. The prevailing culture encourages clients to develop confidence in younger lawyers. Intergenerational transitions become seamless.
Associate A tolerates the job as a short-term burden from which escape is the goal; Associate B is an enthusiastic participant for the long haul. If you're a client, who would you want working on your matter?
The Same Old, Same Old
As clients have talked about refusing to pay for first-year associate time on their matters, big firms' upward profit trends continue. But the real danger for firms and their clients is a big law business model that collapses under its own weight.
As it has for the past eight years, Altman-Weil's recently released 2016 "Law Firms In Transition" survey confirms again the failure of leadership at the highest levels of the profession. Responses come from almost half of the largest 350 firms in the country. It's a significant sample size that provides meaningful insight into the combination of incompetence and cognitive dissonance afflicting those at the top of many big firms.
When asked about the willingness of partners within ten years of retirement to "make long-term investments in the firm that will take five years or more to pay off," fewer than six percent reported their partners' "high" willingness to make such investments. But at most firms, partners within ten years of retirement are running the place, so the investments aren't occurring.
Almost 60 percent of firm leaders reported moderate or high concern about their law firms' "preparedness to deal with retirement and succession of Baby Boomers." Meanwhile, they resolve to continue pulling up the ladder, observing that "fewer equity partners will be a permanent trend going forward" as "growth in lawyer headcount' remains a "requirement for their firms' success."
Do law firm leaders think they are losing business to non-traditional sources and that the trend will continue? Survey says yes.
Do law firm leaders think clients will continue to demand fundamental change in the delivery of legal services? Survey says yes. (56 percent)
Do law firm leaders think firms "are serious about changing their legal service delivery model to provide greater value to clients (as opposed to simply reducing rates)"? Survey says no. (66 percent)
Do clients think law firms are responding to demands for change? Survey says most emphatically no! (86 percent)
But do law firm leaders have confidence that their firms are "fully prepared to keep pace with the challenges of the new legal marketplace"? Survey says yes! (77 percent)
If cognitive dissonance describes a person who tries to hold two contradictory thoughts simultaneously, what do you call someone who has three, four or five such irreconcilable notions?
At too many big law firms the answer is managing partner.
Posted in Associates in BigLaw, Biglaw trends?, News You Might Have Missed	| Tagged Altman Weil, Am Law 100, associate lawyers, associate salaries, associates, attorneys, baby boomers, big law firms, biglaw, Billable Hours, Cravath Swaine & Moore, equity partner profits, equity partners, large law firms, law firm business model, Law firms, Law Firms in Transition, law partners, lawyers, Leadership, legal profession, leverage, leverage ratio	| 4 Replies
BIG LAW'S SHORT-TERMISM PROBLEM
Posted on December 16, 2015 by thebellyofthebeast
Recently, the New York Times devoted a special section of "Dealbook" to short-termism. Big law firms made a prominent appearance in an article focusing on leadership transition. Citing statistics at the managing partner level, the Times reports that only three percent of law firm managing partners are under age 50. Twelve percent are over 70. Almost half are between 60 and 70.
The Tip of the Graying Iceberg
The core problem of transition runs deeper than a single demographic data point about the age of those at the top of the big law pyramid. The developing crisis goes far beyond the question of who the next managing partner will be.
At most firms, aging partners at all partnership levels are hanging on to clients and billings. For them, it's a matter of survival. Except for lock-step firms, equity partners "eat what they kill" — that is, their closely guarded silos of clients and billings determine their annual compensation.
In that culture, hoarding becomes essential to preserving annual compensation that partners come to regard as rightfully theirs — and theirs alone. Stated in language that many senior partners use in criticizing today's young attorneys, these aging lawyers have developed a wrong-headed sense of entitlement.
The fact that they're making far more than they dreamed of earning in law school doesn't matter to them. Neither does the fact that they are compromising the future of their firms. But their short-term gains could become the institution's long run catastrophe.
See the Problem
Surveys confirm that law firm leaders recognize the resulting problem. Seven years ago, Altman Weil issued the first of its annual "Law Firms in Transition" series. Since then, the survey has documented a fundamental failure of leadership on this issue.
For example, in the 2011 survey, Altman Weil asked firm leaders to name the areas in which they had the greatest concerns about their firms' preparedness for change: "The top issue, identified by 47% of all firms, was the retirement and succession of Baby Boom lawyers in their law firms."
In the 2012 survey, 70 percent of managing partners had "moderate" or "high" concern about client transition as senior partners retire. On a scale of one (no concern) to ten (extreme concern), the median score was seven.
In the 2013 survey, only 27 percent of managing partners reported that they had a formal succession planning process in place.
Ignore the Problem
How have these leaders responded to what they have identified for years as the most pressing long-term problem facing their firms? Poorly.
The 2015 survey observes, "In 63% of law firms, partners aged 60 or older control at least one quarter of total firm revenue, but only 31% of law firms have a formal succession planning process."
There's a reason that law firm leaders balk at meaningful transition planning. It requires them to accept the fact that they won't run their firms forever. But contemplating one's own mortality can be unpleasant.
It also requires them to rethink their missions. Leadership is not about maximizing this year's partner profits or pursuing growth for the sake of growth to create illusory empires over which a dictator can preside. It requires a willingness to create incentive structures that encourage long-term institutional stability.
Toward that end, lofty aspirations are easier to state than to achieve. But here are a few governing principles:
— Client service should be central to everything a law firm does.
— Partner cooperation should trump partner competition.
— Clients and billings should flow seamlessly to the next generation while allowing aging partners to retain a sense of self-worth as firms encourage them to prepare for their "second acts," whatever they may be.
— The culture of a firm should encourage partners to sacrifice some short-term financial self-interest in the effort to leave the firm better than they found it — just as their mentors did for most of them.
Become the Problem
The most creative leaders understand that all of this means thinking outside the conventional billable hour box that remains central to the short-term growth and profit-maximizing mindset. In that respect, the contrast between the absence of true leadership and clients' desires is striking.
Since 2009, Altman Weil has done an annual survey of corporate chief legal officers, too. The survey asks the CLOs: "How serious are law firms about changing their legal service delivery model to provide greater value to clients?"
The responses are on a scale of one (not at all serious) to ten (doing everything they can), Every year since the survey began, the median score has been three. Three out of ten. Stated differently, as far as clients are concerned, their outside lawyers have little interest in responding to demands for change.
Likewise, LexisNexis/Counsel Link's most recent semi-annual report analyzing six key metrics confirms the impact of short-termism:
— Clients want alternative fee arrangements. AFAs account for only seven percent of all billings.
— Clients want relief from high hourly rates. For the trailing 12-month period ending on June 30, 2015, big firms of more than 750 attorneys had a median partner billing rate of $711 an hour — up 6 percent from the period ending on December 31, 2014. (For firms of 501-750 lawyers the median hourly rate during the same period increased by only $5 an hour.)
As big firm leaders drag their feet, clients aren't waiting for them. They have figured out that the biggest of big law premiums isn't always worth it. An October 2013 study of $10 billion in client fee invoices by LexisNexis/Counsel Link concluded the "large enough" firms of 201-500 lawyers are eating into the market share of firms with more than 750 lawyers.
From 2010 to 2013, the biggest firms saw their market share drop from 26 percent to 22 percent. Meanwhile, the market share of the "large enough" firms increased from 18 to 22 percent. For high-fee matters totaling $1 million or more, the shift was even more dramatic: "large enough" firms increased their market share from 22 to 41 percent.
Anyone believing that most big law firm leaders are long-term thinkers preparing their firms for a challenging future is ignoring the actual behavior of those leaders. Most of them are focused on getting rich today. That's not a strategy for success tomorrow.
Posted in Biglaw trends?, Leadership, News You Might Have Missed	| Tagged Altman Weil, Am Law 100, attorneys, big law firms, biglaw, Counsel Link, equity partner profits, equity partners, large law firms, law firm business model, law firm succession, Law firms, law partners, lawyers, Leadership, legal profession, LexisNexis, metrics, retiring partners	| 1 Reply
DEWEY: 10 LESSONS LOST
Posted on September 23, 2015 by thebellyofthebeast
National news organizations began working on stories about the verdicts in the Dewey & LeBoeuf case long before the jury's deliberations ended.
"What are the lessons?" several reporters asked me.
My initial inclination was to state the obvious: Until the jury renders its decision, who can say? But that would be an unfortunately limited way of viewing the tragedy that befell a once noble law firm. In fact, the trial obscured the most important lessons to be learned from the collapse of Dewey & LeBoeuf.
Lesson #1: You Are What You Eat
During the twelve months prior to the firms' October 2007 merger, Dewey Ballantine hired 30 lateral partners; LeBoeuf Lamb hired 19. The combined firm continued that trend as Dewey & LeBoeuf became one of the top 10 firms in lateral recruiting. By 2011, 50 percent of the firm's partners were post-2005 laterals into Dewey & LeBoeuf or its predecessors.
A partnership of relative strangers is not well-positioned to withstand adversity.
Lesson #2: Mind the Gap
To accomplish aggressive lateral hiring often means overpaying for talent and offering multi-year compensation promises. By 2012, Dewey & LeBoeuf's ratio of highest-to-lowest paid equity partners was 20-to-1.
A lopsided, eat-what-you-kill partnership of haves and have-nots has difficulty adhering to a common mission.
Lesson #3: Not All Partners Are Partners
One corollary to a vast income gap within the equity ranks is the resulting partnership-within-a-partnership. As those at the top focus on the short-term interests of a select few, the long-run health of the institution suffers.
A partnership within a partnership can be a dangerous management structure.
Lesson #4: The Perils of Confirmation Bias
Firm leaders and their fellow partners are vulnerable to the same psychological tendencies that afflict us all. When former Dewey chairman Steven H. Davis held fast to his perennial view that better times were just around the corner, fellow partners wanted to believe him.
Magical thinking is not a business strategy.
Lesson #5: Short-termism Can Be Lethal
Short-term thinking dominates our society, even for people who view themselves as long-term strategists. At Dewey, the need to maximize current year partner profits and distribute cash to some partners overwhelmed any long-term vision that Davis sought to pursue.
In the not-so-long run, a firm can die.
Lesson #6: Behavior Follows Incentive Structures
Most firms hire lateral partners because they will add clients and billings. To prove their worth, laterals build client silos to prevent others from developing relationships with "their clients." Similarly, there's no incentive for partners in "eat-what-you-kill" firms to mentor young attorneys or facilitate the smooth intergenerational transition of client relationships.
Over time, the whole can become far less than the sum of its parts.
Lesson #7: Disaster Is Closer Than You Think
When the central feature of a firm's culture is ever-increasing partner profits, even small dips become magnified. Incomes that are staggering to ordinary workers become insufficient to keep restless partners from finding a new place to work.
Death spirals accelerate.
Lesson #8: Underlings Beware
On cross-examination, some of the prosecution's witnesses testified that at the time they made various accounting adjustments to Dewey's books, they didn't think they'd done anything wrong. But now they are parties to plea agreements that could produce prison time.
Deciding that something isn't wrong is not always the same as determining that it's right.
Lesson #9: Greed Governs
Who among the Dewey partners received the $150 million in bond proceeds from the firm's 2010 bond offering? I posed that question a year ago and we still don't know the answer. During the first five months of 2012 — as the firm was in its death throes — a small group of 25 partners received $21 million while the firm drew down its bank credit lines. Who masterminded that strategy?
In a November 2012 filing with the Dewey bankruptcy court, Steven Davis explained why Dewey collapsed: "While 'greed' is a theme…, the litigation that eventually ensues will address the question of whose greed." (Docket #654) He was referring to some of his former partners who ignored the role that fortuity had played in creating their personal wealth.
Hubris is a powerfully destructive force.
Lesson #10: Superficial Differences Don't Change Outcomes
For the three years that Dewey has been in the news, many big law firm leaders have been performing the task at which attorneys excel: distinguishing adverse precedent. In great detail, they explain all of the ways that their firms are nothing like Dewey. But they fail to consider the more significant ways in which their firms are similar.
A walk past the graveyard is easier when you whistle. Louder is better. Extremely loud and running is best.
Posted in Biglaw trends?, Dewey	| Tagged attorneys, big law firms, biglaw, Dewey & LeBoeuf, Dewey bankruptcy, Dewey guilty pleas, Dewey trial, equity partner profits, equity partners, Greed, large law firms, law firm business model, Law firms, law partners, legal profession, short-termism	| Leave a reply
Posted on September 2, 2015 by thebellyofthebeast
Labor Day marks the end of summer. It's also a time to reflect on our relationship with work. Lawyers should do that more often. In that regard, some big law leaders will find false comfort in their 2015 Am Law Midlevel Associates Survey ranking.
In a recent New York Times Op-Ed, "Rethinking Work," Swarthmore College Professor Barry Schwartz suggests that the long-held belief that people "work to live" dates to Adam Smith's 1776 statement in "Wealth of Nations": "It is in the interest of every man to live as much at his ease as he can."
Schwartz notes that Smith's idea helped to shape the scientific management movement that created systems to minimize the need for skill and judgment. As a result, workers found their jobs less meaningful. Over generations, Smith's words became a self-fulfilling prophecy as worker disengagement became pervasive.
"Rather than exploiting a fact about human nature," Schwartz writes, "[Smith and his descendants] were creating a fact about human nature."
The result has been a world in which managers structure tasks so that most workers will never satisfy aspirations essential for job satisfaction. Widespread workplace disengagement — afflicting more than two-thirds of all workers, according to the most recent Gallup poll — has become an accepted fact of life.
Lawyers Take Note
Schwartz's observations start with those performing menial tasks: "Maybe you're a call center employee who wants to help customers solve their problems — but you find out that all that matters is how quickly you terminate each call."
"Or you're a teacher who wants to educate kids — but you discover that only their test scores matter," he continues.
And then he takes us to the legal profession: "Or you're a corporate lawyer who wants to serve his client with care and professionalism — but you learn that racking up billable hours is all that really counts."
Many Americans — especially lawyers who make decent incomes — have the luxury of thinking beyond how they'll pay for their next meal. But relative affluence is no excuse to avoid the implications of short-term thinking that has taken the legal profession and other noble pursuits to an unfortunate place.
You might think that short-term profit-maximizing managers would heed the studies demonstrating that worker disengagement has a financial cost. But in most big law firms, that hasn't happened. There's a reason: Those at the top of the pyramid make a lot of money on eat-what-you-kill business models. They can't see beyond their own short-term self-interest — which takes them only to their retirement age.
Maintaining their wealth has also been a straightforward proposition: Pull up the ladder while increasing the income gap within equity partnerships. The doubling of big firm leverage ratios since 1985 means that it's now twice as difficult to become an equity partner in an Am Law 50 firm. Top-to-bottom compensation spreads within most equity partnerships have exploded from three- or four-to-one in 1990 to more than 10-to-1 today. At some firms, it's 20-to-1.
What Problem?
Then again, maybe things aren't so bad after all. The most recent Am Law Survey of mid-level associates reports that overall satisfaction among third- through fifth-level associates is its highest in a decade. But here's the underlying and problematic truth: Big law associates have adjusted to the new normal.
Thirty-one percent of Am Law Survey respondents said they didn't know what they'd be doing in five years. Only 14 percent expected to make non-equity partner by then. They see the future and have reconciled themselves to the harsh reality that their firms have no place for them in it.
No one feels sorry for big firm associates earning six-figure incomes, but perhaps someone should. As Professor Schwartz observes, work is about much more than the money. In that respect, he offers suggestions that few large firms will adopt: "giving employees more of a say in how they do their jobs… making sure we offer them opportunities to learn and grow… encouraging them to suggest improvements to the work process and listening to what they say."
I'll add one specially applicable to big law firms: Provide meaningful career paths that reward talent and don't make advancement dependent upon the application of arbitrary short-term metrics, such as leverage ratios, billable hours, and client billings.
What's the Mission?
Schwartz's suggestions are a sharp contrast to the way most big law firm partners operate. They exclude their young attorneys from firm decision-making processes (other than recruiting new blood to the ranks of those who will leave within five years of their arrival). Compensation structures reward partners who hoard clients rather than mentor and develop talent for the eventual transition of firm business to the next generation. The behavior of partners and the processes of the firm discourage dissent.
"But most important," Schwartz concludes, "we need to emphasize the ways in which an employee's work makes other people's lives at least a little bit better."
Compare that to the dominant message that most big law firm leaders convey to their associates and fellow partners: We need to emphasize the ways in which an attorney's work makes current equity partners wealthier.
Law firm leaders can develop solutions, or they can perpetuate the problem. It all starts from the top.
Posted in Associates in BigLaw, Biglaw trends?, Billable Hours, FROM TODAY'S HEADLINES, Leadership, News You Might Have Missed	| Tagged Am Law 100, Am Law Midlevel Associates Survey, associate lawyers, associates, attorneys, Barry Schwartz, big law firms, biglaw, Billable Hours, career satisfaction, equity partner profits, equity partners, large law firms, law firm business model, Law firms, law partners, lawyers, Leadership, legal profession, New York Times, NY Times, unhappy lawyers	| 3 Replies
THE PERVASIVE AMAZON JUNGLE
Posted on August 19, 2015 by thebellyofthebeast
Amazon's founder and CEO, Jeff Bezos, hates the recent New York Times article about his company. He says it "doesn't describe the Amazon I know." Rather, it depicts "a soulless, dystopian workplace where no fun is had and no laughter heard." He doesn't think any company adopting such an approach could survive, much less thrive. Anyone working in such a company, he continues, "would be crazy to stay" and he counts himself among those likely departures.
The day after the Times' article appeared, the front page of the paper carried a seemingly unrelated article, "Work Policies May Be Kinder, But Brutal Competition Isn't." It's not about Amazon; it's about the top ranks of the legal profession and the corporate world. Both are places where the Times' version of Amazon's culture is pervasive — and where such institutions survive and thrive.
The articles have two unstated but common themes: the impact of short-termism on working environments, and how a leader's view of his company's culture can diverge from the experience of those outside the leadership circle.
Short-termism: "Rank and Yank"
Bezos is hard-driving and demanding. According to the Times, his 1997 letter to shareholders boasted, "You can work long, hard or smart, but at Amazon.com you can't choose two out of three."
The Times reports that Amazon weeds out employees on an annual basis: "[T]eam members are ranked, and those at the bottom eliminated every year." Jack Welch pioneered such a "rank and yank" system at General Electric long ago and many companies followed his lead. Likewise, big law firms built associate attrition into their business models.
Theoretically, a "rank and yank" system produces a higher quality workforce. But in recent years, a new generation of business thinkers has challenged that premise. Even GE has abandoned Welch's brainchild.
As currently applied, the system makes no sense to Stanford Graduate School of Business professor Bob Sutton, who observed, "When you look at the evidence about stack ranking…. The kind of stuff that they were doing [at GE], which was essentially creating a bigger distribution between the haves and the have nots in their workforce, then firing 10% of them, it just amazed me."
If Amazon uses that system, which focuses on annual short-term evaluations, it's behind the times, not ahead of the curve.
Haves and Have Nots
Professor Sutton's comment about creating a bigger gap between the haves and the have nots describes pervasive law firm trends as well. The trend could also explain why Bezos and the Times may both be correct in their contradictory assessments of Amazon's culture. That's because any negative cultural consequences of Bezos' management style probably don't seem real to him. Bezos is at the top; the view from below is a lot different.
This phenomenon of dramatically divergent perspectives certainly applies to most big law firms. As firms moved from lock-step to eat-what-you-kill partner compensation systems, the gap between those at the top and everyone else exploded. Often, the result has been a small group — a partnership within the partnership — that actually controls the institution.
Those leaders have figured out an easy way to maximize short-term partner profits for themselves: make the road to equity partner twice as difficult than it was for them. As big firm attorney-partner leverage ratios have doubled since 1985, today's managers are pulling up the ladder on the next generation. It's no surprise that those leaders view their firms favorably.
Their associates have a decidedly different impression of the work environment. Regular attrition began as a method of quality control. At many firms, it has morphed into something insidious. Leadership's prime directive now is preserving partner profits, not securing the long-run health of the institution. Short-term leverage calculations — not the quality of a young attorney's lawyering — govern the determination of whether there is "room" for potential new entrants.
About the Long-Run
Such short-term thinking weakens the institutions that pursue it. As Professor Sutton observes: "We looked at every peer reviewed study we could find, and in every one when there was a bigger difference between the pay at of the people at the bottom and the top there was worse performance."
That's understandable. After all, workers behave according to signals that leadership sends down the food chain. Dissent is not a cherished value. Resulting self-censorship means the king and the members of his court hear only what they want to hear. People inside the organization who want to advance become cheerleaders who suppress bad news. Being a team player is the ultimate compliment and the likeliest path to promotion.
Bezos' letter to his employees about the Times article encourages anyone who knows of any stories "like those reported…to escalate to HR." He says that he doesn't recognize the Amazon in the article and "very much hopes you don't, either."
One former employee frames Bezos' unstated conundrum correctly: "How do you possibly convey to your manager the intolerable nature of your working conditions when your manager is the one telling you, point blank, that the impossible hours are simply what's expected?"
Note to Jeff B: Escalating to HR won't eliminate embedded cultural attitudes.
Then again, maybe I'm wrong about all of this. On the same day the Times published its piece on the increasingly harsh law firm business model, the Wall Street Journal ran Harvard Law School Professor Mark J. Roe's op-ed: "The Imaginary Problem of Corporate Short-Termism."
It's all imaginary. That should come as a relief to those working inside law firms and businesses that focus myopically on near-term results without regard to the toll it is taking on the young people who comprise our collective future.
Posted in FROM TODAY'S HEADLINES, Leadership, News You Might Have Missed	| Tagged Amazon, attorneys, big law firms, biglaw, Billable Hours, Bob Sutton, equity partner profits, equity partners, GE, General Electric, Jack Welch, Jeff Bezos, large law firms, law firm business model, Law firms, law partners, lawyers, Leadership, legal profession, leverage, leverage ratio, Mark Roe, metric, metrics, Stanford Graduate School of Business	| 2 Replies
THINKING BEYOND THE AM LAW 100 RANKINGS
Posted on April 22, 2015 by thebellyofthebeast
It's Am Law 100 time. Every year as May 1 approaches, all eyes turn to Big Law's definitive rankings — The American Lawyer equivalent of the Sports Illustrated swimsuit issue. But behind those numbers, what do law firm leaders think about their institutions and fellow partners?
The 2015 Citibank/Hildebrandt Client Advisory contains some interesting answers to that question. Media summaries of those annual survey results tend to focus on macro trends and numbers. Will demand for legal services increase in the coming months? Are billable hours up? Will equity partner profits continue to rise? Will clients accept hourly rate increases? Or will client discounts reduce realizations?
Those are important topics, but some of the survey's best nuggets deserve more attention than they get. So as big law firm partners everywhere pore over the annual Am Law 100 numbers, here are five buried treasures from this year's Citibank/Hildebrandt Client Advisory that will get lost in the obsession over Am Law's short-term growth and profits metrics. They may reveal more about the state of Big Law than any ranking system can.
Chickens Come Home To Roost
1. "While excess capacity remains an issue, we are hearing from a good number of firms that mid-level associates are in short supply."
My comment: After 2009, most firms reduced dramatically summer programs and new associate hiring to preserve short-term equity partner profits. That was a shortsighted failure to invest in the future, and it's still pervasive. See #4 and #5 below.
The Growth Trap
2. "Many [law firm mergers] have tended to be mergers of strong firms with weaker firms, or mergers of firms that are pursuing growth for growth's sake. On this latter trend, it is our view that these mergers are generally ill-conceived. In our experience, combining separate firm revenues does not necessarily translate into better profit results and long-term success."
My comment: Regardless of who says it (or how often), many managing partners just don't believe it.
The Lateral Hiring Ruse
3. "For all the popularity of growth through laterals, the success rate of a firm's lateral strategy can be quite low. For the past few years, we have asked leaders of large firms to quantify the rate of success of the laterals they hired over the past five years. Each year, the proportion of laterals who they would describe as being above 'break even', by their own definition, has fallen. In 2014, the number was just 54 percent of laterals who had joined their firms during 2009-2013." [Emphasis added]
My comment: Think about that one. The survey allows managing partners to use their own personal, subjective, and undisclosed definition of "success." Even with that unrestricted discretion to make themselves look good, firm leaders still admit that almost half of their lateral hiring decisions over the past five years have been failures — and that they're track record has been getting worse! That's stunning.
Pulling Up The Ladder
4. "We are now seeing [permanent non-partner track associates and other lower cost lawyers] appear among some of the most elite firms. When we ask these firms whether they are concerned that expanding their lawyer base beyond partner-track associates will hurt their brand, their response is simply that this is what their clients, and the market in general demands."
My comment: At best such managing partner responses are disingenuous; at worst they are lies. Clients aren't demanding non-partner track attorneys; they're demanding more value from their outside lawyers. Thoughtful clients understand the importance of motivating the next generation's best and brightest lawyers with meaningful long-term career opportunities.
Permanent dead-end tracks undermine that objective. So does the continuing trend in many firms to increase overall attorney headcount while keeping the total number of equity partners flat or declining. But rather than accept responsibility for the underlying greed that continues to propel equity partner profits higher, law firm leaders try to blame clients and "the market." For the truth, they should consult a mirror.
The Real Problem
5. "Leaders of successful firms also talk about getting their partners to adopt a more long-term, 'investment' mindset. In an industry where the profits are typically paid out in a short time to partners, rather than being retained for longer term investment, this can be a challenge."
My comment: Thinking beyond current year profits is the challenge facing the leadership of every big firm. Succeeding at that mission is also the key assumption underlying the Client Advisory's optimistic conclusion:
"It is clear to us that law firms have the capacity and the talent to adapt to the needs of their clients, and meet the challenges of the future — contrary to those who continually forecast their death."
I'm not among those forecasting the death of all big firms. In fact, I don't know anyone who is. That would be silly. But as in 2013 and 2014, some large firms will fail or disappear into "survival mergers." As that happens, everyone will see that having what the Client Advisory describes as "the capacity and talent to adapt" to the profession's dramatic transformation is not the same as actually adapting. The difference will separate the winners from the losers.
Posted in Biglaw trends?, FROM TODAY'S HEADLINES, Leadership, News You Might Have Missed, Rankings and Other Misguided Metrics	| Tagged 2015 Client Advisory, Am Law 100, American Lawyer, associate lawyers, associates, attorneys, big law firms, biglaw, Billable Hours, career satisfaction, Citi/Hildebrandt, equity partner profits, equity partners, large law firms, law firm business model, Law firms, law partners, Leadership, legal profession	| Leave a reply
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Pacquiao tax break junked Palace nixes
posted December 07, 2013 at 12:01 am by Joyce Pangco Panares
2 bills for his exemption
THE Palace on Friday rejected two bills seeking to exempt boxing champion and Sarangani Rep. Manny Pacquiao from paying taxes.
"Paying taxes is one of the basic obligations of every Filipino citizen. That is why in our view, that proposal is not reasonable," said Communications Secretary Herminio Coloma.
"Exemptions are based on the capacity of workers to pay tax. Usual exemptions include those that are extended to minimum wage earners. Those are the only types of exemptions that we have," Coloma added.
Independent lawmakers led by Buhay party-list Rep. Lito Atienza have filed a measure that would stop the government from taxing Pacquiao's winnings as well as those of other national athletes who win prizes and awards in international competitions.
The exemption would apply to prizes and awards in all competitions earned 10 years prior to the effectivity of the proposed law.
Valenzuela Rep. Magtanggol Gunigundo also filed a bill granting tax exemption to Pacquiao for as long as he lives for the honor and pride he has brought to the country.
Earlier, President Benigno Aquino III said it was illogical to suggest that the government is harassing Pacquiao, who the Bureau of Internal Revenue (BIR) says owes P2.2 billion in back taxes.
Aquino chided the boxing champion for engaging the BIR in a media war, and said he should just present evidence that he has complied with all the tax requirements.
"Why should we harass him? Where is the logic in that?" he said. "I understand the frozen accounts total P1.1 million. What is that compared to all of his winnings? With all due to respect to Congressman Pacquiao, if he believes that he has complied with all the necessary rules and all the necessary laws, then I'm sure he has all the evidence to (back up his claim)," the President added.
Aquino even described Pacquiao as being "cavalier" in not responding to the legitimate summons of the BIR.
"He earns abroad, he pays taxes there, but the tax rate in the US and ours are different. That difference still has to be made up," the President said.
Aquino said Pacquiao's media interviews will not help him resolve the tax case.
"The way to settle it is to answer all of these queries by the BIR and not to engage in a media war. The media will not decide who is right or wrong. It will be our courts eventually, if it gets to that, who will decide," Aquino added.
The tax case arose from the alleged failure of Pacquiao's accountant to report in his income tax returns the taxes collected by the US Internal Revenue Service from his prize winnings for the years 2008 to 2009.
BIR lawyers said Pacquiao's failure to answer the final assessment notice sent to him has made his tax debts "demandable, executory, and collectible."
BIR records showed that the boxing champ earned more than $28 million in prize money in 2008 and 2009.
Of the amount, the US IRS collected $8.4 million or roughly about P395 million.
Pacquiao said he did not include the remittances to the IRS in his income tax return because of an existing tax treaty agreement between Manila and Washington which stipulates that income tax paid by Filipinos in the US is creditable against his income tax liabilities in the Philippines.
The Court of Tax Appeals this week imposed a gag order on Pacquiao, his immediate family and representatives and the BIR to stop them from discussing the case while it is being heard.
In the House, Speaker Feliciano Belmonte Jr. dismissed Guinigundo's bill.
"I do not support giving permanent tax exemption to anybody, particularly those who do not even need it," Belmonte said.
Pacquiao is already the richest among the 292 members of the House of Representatives, with a net worth of P1.35 billion based on the 2011 Statement of Assets Liabilities and Net Worth that he filed.
Basilan Rep. Jim Hataman-Salliman, AKO-Bicol party-list Rodel Batocabe, Isabela Rep. Rodolfo Albano III, Gabriela party-list Rep. Luz Ilagan and Kabataan party-list Rep. Terry Ridon agreed with Belmonte.
"He is earning more than what he needs, and there are people who have less in life that deserve to be given that privilege," Hataman-Salliman said.
He said the country can honor Pacquiao "in a different way" that does not deprive the government and the people of their revenue.
Batocabe said he was inclined to support Atienza's bill instead because it covers not only Pacquiao but other athletes as well.
Isabela Rep. Rodolfo Albano III, member of the House opposition bloc, also opposed Gunigundo's proposal.
"That's crazy!," Albano said of Gunigundo's bill. "Why not make him a king, perhaps it's better." With Maricel V. Cruz


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text:
Christoph Georg Tonini (* 1969) ist ein italienisch-schweizerischer Medienmanager. Von 2013 bis 2020 war er Vorsitzender (CEO) der Unternehmensleitung der Mediengruppe Tamedia bzw. TX Group. Er ist Mitglied in verschiedenen Verwaltungsräten. Ab Februar 2022 wird er als Verwaltungsratsdelegierter und CEO die Führung der Swiss Marketplace Group übernehmen.

Leben
Christoph Tonini, dessen Vater Karl Tonini von Bozen in die Schweiz einwanderte und in Dielsdorf eine kleine Druckerei führte, absolvierte eine Berufslehre als Offsetdrucker. Anschliessend studierte er von 1990 bis 1993 an der Schweizerischen Ingenieurschule für Druck und Verpackung (esig) in Lausanne. 2003 erwarb Tonini einen Executive MBA an der Universität St. Gallen.

Nach Stationen im Druckgeschäft der Hachette-Gruppe in Paris, bei der Druckerei Winterthur und als Folge der Übernahme dieses Unternehmens bei der Basler Zeitung stiess Tonini 1997 zu Ringier. Beim Zürcher Medienhaus übte er verschiedene Funktionen aus und war zuletzt Geschäftsführer von Ringier Ungarn und Ringier Rumänien.

2003 wechselte er als Leiter Finanzen und Mitglied der Unternehmensleitung zu Tamedia, später leitete er unter anderem auch die Unternehmensbereiche Finanzen, Services und Zeitungen Schweiz. 2006 wurde Tonini zum stellvertretenden Vorsitzenden der Unternehmensleitung von Tamedia ernannt, und 2011 übernahm er die Leitung des neu geschaffenen Unternehmensbereichs Digital. Nachdem sein Vorgänger Martin Kall im Sommer 2011 seinen Rücktritt auf Ende 2012 bekannt gegeben hatte, übernahm Tonini 2013 den Vorsitz der Unternehmensleitung von Tamedia. Tonini verliess per 30. Juni 2020 Tamedia, die seit dem 1. Januar 2020 TX Group heisst und das Dach für die seither eigenständigen Unternehmen TX Markets, Goldbach, 20 Minuten und Tamedia bildet. Seit 1. Juni ist er Verwaltungsrat der TX Group, seit 1. Juli 2020 Mitglied in der Verwaltung des Migros-Genossenschafts-Bundes (MGB). Er ist Verwaltungsrat der Zürichsee Medien AG, Verwaltungsrat der Properti AG und ehrenamtlicher Stiftungsrat der Kinderhilfsorganisation Right to Play.

Tonini ist verheiratet, hat zwei Kinder und wohnt in Herrliberg.

Weblinks
 Christoph Tonini als Verwaltungsrat auf der Website der TX-Group
 Christoph Tonini also CEO auf der Website von Tamedia (Archiv)

Einzelnachweise

Manager
Schweizer
Italiener
Geboren 1969
Mann

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Markovac est un toponyme qui peut désigner :
en Bosnie-Herzégovine
Markovac, un village situé dans la municipalité de Čelinac et dans la République serbe de Bosnie ;
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Markovac, une localité située dans la municipalité de Daruvar, comitat de Bjelovar-Bilogora ;
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en Serbie
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Markovac, un village situé dans la province autonome de Voïvodine, dans la municipalité de Vršac et dans le district du Banat méridional.