According to The National Law Journal, the gap between first-year associate salaries and partner profits is widening. Research from the National Association for Law Placement and The American Lawyer shows that in 2001, first-year associates were earning, on average, 24.8 percent of partner profit figures, whereas in 2005, the percentage was only 17.8 percent, the lowest in recent years. While a first-year salary of $160,000 may sound like plenty, it isn't keeping pace with partner profits. William Johnston of Hildebrandt International, however, foresees a narrowing of the salary gap in coming years. "Overall profitability will start to plateau," he says, adding that firms will start to feel the squeeze of competition for qualified law school graduates from hedge funds and investment banks as well as among firms. Factors such as number of associates per partner and the growth of non-equity partnerships may be contributors to the phenomenon of the widening gap.

Beyond a responsibility to the environment, conservation practices can save money, increase productivity, and boost morale, according to a February column in Los Angeles Lawyer. When Jeffrey Unger of Ungerlaw, PC, decided to give environmentally responsible business practices a try, he was pleased to discover just how friendly the results were, not only to the firm but for the client. Strategies such as implementing a paperless infrastructure led to the paperless delivery option, which almost 70 percent of clients have chosen, reducing cost and waste. The success of their crusade to eliminate paper waste sparked the firm's interest in investigating other "friendly" customs, with a committee of dedicated staff volunteers at the directive's helm. A 9/80 workweek allows staff to alternate Fridays off after eight-hour days Monday through Thursday. Ideas such as this creative scheduling not only allow employees more flexibility but also boost productivity and reduce computer emissions. Lesson learned: not only are friendly practices good for the environment outside the office and in, but also pleasant for the pocketbook.

Prime brokerage firm Bear Stearns was ordered to pay nearly $160 million to investors for providing their clients with fraudulent account statements after mistakenly placing their bets on the overvaluation of Internet and tech stocks. The case centered around the firm's Manhattan Investment Fund, and, more specifically, the actions of its manager, Michael Berger, who has remained a fugitive since 2002 after failing to appear for his sentencing hearing. The fund ultimately imploded in the late 1990's to the tune of nearly $400 million. Since then, relationships between hedge fund clients and their securities firms are being given more attention by regulators, and the securities firms themselves are going to "take notice of this case and are likely to review their own internal controls," said a lawyer who contributed to the New York Times article under the condition of anonymity.

Far from a necessary evil, criticism can be not only constructive but also a tool to strengthen relationships, provided it is done right. An article in the February issue of The American Lawyer provided tips for giving and getting the most out of truly constructive criticism. It advises to first put your negatives in a positive sandwich—meaning, focus on your beginnings and endings to cushion the negative criticism and be fair. Next, always be specific. Vague and unfocused criticism offers no real reward. Give specific directions or suggestions for improvement without negative goals. Keep your compliments personal and your criticism as impersonal as possible in order to make it clear that your criticism is not of the person, but their behavior, remembering that we are our own harshest critics. That junior associate who almost botched the deal is probably already punishing himself severely. Finally, timely feedback is the most effective and most relevant, and don't forget to end on that lasting high note!

"If you will not be in the office before 10:00 a.m., please make sure to communicate as much to your secretary with instructions to inform relevant partners of your anticipated schedule," chastens a February memo from Mayer, Brown, Rowe & Maw LLP's New York office, according to the Wall Street Journal Law Blog. The memo was directed toward associates strolling in apparently too late for the partners in the firm's securitization practice. Reasons such as staying at the office past midnight and grueling commutes help explain the prominence of start times on the late side, but too-late mornings are frowned upon, says a firm spokesman.

As the murky legal ground surrounding online posting of copyrighted material is explored, the battles rage between old media and new. Viacom International, the parent company of MTV and Comedy Central, has filed suit against Google and YouTube claiming "massive intentional copyright infringement," according to the New York Times. Although Viacom and YouTube had been working toward an agreement, in February, Viacom demanded that YouTube remove more than 100,000 video clips from its Web site and is now seeking more than $1 billion in damages. Viacom points out programming such as reality shows on MTV and Comedy Central's "The Daily Show" as key to YouTube's demographic and a vital pull to YouTube's Web site. YouTube makes their profits through advertising, and copyright holders want a share of that revenue. Although YouTube has been seeking licensing arrangements with major media companies, they have yet to come to an agreement.

A new accounting rule stipulates that state and city governments must declare the value of their promised retiree benefits. Texas state comptroller Susan Combs, however, does not want to participate and is trying to encourage other states to join in a campaign against the rule, which could make many governments look bankrupt. "I am having trouble appreciating the purpose of this standard," she wrote in a letter to her counterparts, asking for support. Accounting experts, however, maintain that the rule was enacted after many years of due process. In addition, they are concerned with governments that have promised retirement health care to their workers as delayed compensation perhaps without the budgets to back the promises. The Governmental Accounting Standards Board, the independent board that enacted the rule, sees retiree benefits as a government obligation but worries that public employees may not understand that these promised benefits could be rescinded. Perhaps the numbers tell the story better: preliminary estimates of Texas' obligations are around $50 billion.

After nearly a quarter century of huge economic growth, China quietly passed its first legislation protecting private property rights, the New York Times reports. The legislation was delayed and withdrawn last year after President Hu Jintao and Prime Minister Wen Jiabado invited public debate and intellectual discussion surrounding the issue, which some critics say illuminate the hollowness of China's socialist system. Leaders Hu and Wen have remained silent this time around. The measure will strengthen the rights of private entrepreneurs and the growing middle class who are fueling a real estate boom in China, where property rights have been murky (land is owned by the state and individuals are given only the right to use the land for 70 years). Critics of the legislation worry that the measure will protect those who have accumulated property based on a long tradition of corruption. The legislature included a revision of the corporate tax that had given foreign investors a substantial advantage over local companies. Pro-growth policies continue as China's economy continues to expand.