Rise in partner numbers points to upturn

first_imgThe number of partners at UK law firms rose significantly this year as the rate of ‘firing and retiring’ fell, according to a survey by an accountancy firm.Figures show an overall net increase of 2,795 partnership posts this year, reversing the net loss of 153 partner roles seen in 2011/12, a report by Wilkins Kennedy says. A key factor behind the rise in partner numbers was that 44% fewer partnership posts terminated than in the previous year. In 2012-13, 3,077 partnership posts were closed, down from 5,487 the year before that.The figures also show a 10% increase in new partnership roles being created, with 5,872 posts started this year, up from 5,334 in 2011/12. In total 38,740 partners were practising at UK law firms in 2012.
Wilkins Kennedy suggests the findings show that the worst of the downturn may be over for many firms, although problems may still remain at the smaller end of the market.
 
Tommy White, partner at Wilkins Kennedy, said: ‘Although many firms are still adapting to the more challenging market conditions, this marked fall in apparent firing and retiring of partners at UK law firms is perhaps an indicator that the stop-start restructuring and cost-cutting of the legal sector is now past its worst.’
 
Explaining the reasons for the change, he suggested: ‘On the one hand, after the unprecedented partner redundancies and forced retirements which have taken place recently, most firms have by now already taken the opportunity to offer early retirement to those partners that perhaps were not performing and contributing to profitability.
 
‘At the same time, more partners who near retirement age, but are still generating income for the firm, are deciding to delay their retirement – where their existing partnership structure permits.’

But White notes that the attitude to partnership of many associates is changing with many no longer seeing it as the pinnacle of their career. ‘Associates are starting to question whether partnership is really the be-all and end-all for their careers. Some are seeing a salary and bonus arrangement based on their own personal performance as preferable to what can be the much more volatile earnings of a profit sharing partner,’ he said.last_img read more

RZD launches Blue Arrow

first_imgRUSSIAN Railways has put into traffic a second ER200 high-speed train, and accelerated the premier inter-city service between Moscow and St Petersburg. Introduction of the additional 200 km/h trainset, known as the Blue Arrow, on January 14 has allowed the original ER200 to be taken out of use for a heavy overhaul. Once this has been completed, the intention is to make the service twice-weekly.Upgrading of additional sections of the route for 200 km/h operation has enabled RZD to pare a further 20min from the journey time. The Blue Arrow is booked to cover the 650 km in 4h 40min, at a start-to-stop average of 140 km/h.Following successful commissioning trials, a prototype Class EP200 25 kV 50Hz electric passenger loco has been put into revenue service on the Moscow – Brest route. This was developed at the Kolomna locomotive works, in parallel with the 160 km/h dual-system EP10 from Novocherkassk (RG 1.99 p6).last_img read more

Akure All-Comers is Selection Trials for 1st AFN Classics, Says Ebewele

first_imgThe Athletics Federation of Nigeria (AFN) will use this weekend’s all-comers competition to select the first set of athletes that will qualify for its first Classics competition which holds in Ado Ekiti at the end of the month.The Technical Director of the federation, Brown Ebewele, disclosed that a certain number of athletes will qualify either by position or time for the classics while the all-comers that will come a day before the Ado Ekiti event will be used to get the remaining set that will complete the line-up for each classics event.“We are re-introducing a model that worked perfectly for us in the past where athletes will qualify to run in the classics. We will have four athletes who will qualify from a classics event while the remaining four that will make up an eight-lane event will be selected at an all-comers event that precedes each meeting,” said Ebewele. “What this will do is that it will engender competition among athletes as you will need to qualify for the Classics before you can be entitled to accommodation and transport subsidy. This is in addition to the prize monies on offer for each event,” explained the AFN technical supremo.“It was during that time we got home-based athletes running very fast and world-class times. I remember Deji Aliu ran 10.02 seconds in Bauchi in one of the legs of the event in March,1995. Davidson Ezinwa completed a sensational sprint double in January,1990 in Bauchi where he ran 10.05 seconds over the 100m and 20.30 seconds in the 200m.There was so much competition then and this present board of the AFN wants to bring it all back.”Ebewele is confident this weekend’s all-comers competition will be of great help to the athletes who have been training so hard without having an opportunity to gauge how far they have gone with their training, what needs to be corrected and how ready they are for the new season, especially the Edo 2020 National Sports Festival which will be used to select athletes for the first phase of camping for both the African Championships in Algeria this June and the Olympic Games in Japan in July/August.The AFN technical director advised athletes not to participate in competition(s) not sanctioned by the AFN under the leadership of Honourable Olamide George.He also advised states not to allow their stadium to be used to organise events not sanctioned by the federation, especially events fraudulently organised in the name of AFN.“There is only one AFN recognised by the Federal Government and only known to Nigerian laws,” said Ebewele while quoting article one of the AFN constitution that made it abundantly clear that the federation is one of the 38 sports associations under the supervision of the Federal Ministry of Youth and Sports Development.Ebewele reminded state associations that they must be in good standing with the AFN before they can be allowed to participate in AFN events.The AFN All-Comers competition holds on Friday and Saturday at the Federal University of Technology, Akure.The athletes will arrive on Friday while the event proper takes place the next day.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Leicester defender to miss Copa America opener because of partying too hard

first_img Upd. on 22/11/2016 at 03:06 CET Sport EN “He partied in London and in Thailand, but I am very happy he is here because maybe he can help in the second match.  “But he won’t be ready for the first match, that would be too difficult.”  After their opener against Venezuela, Jamaica face Mexico and Luis Suarez’s Uruguay as they bid for a place in the knockout rounds of the centenary edition of the tournament. Leicester City’s Wes Morgan will miss Jamaica’s Copa America opener against Venezuela because he has been celebrating his side’s Premier League title triumph too hard.  05/06/2016 “Morgan has come, but he is tired, that’s clear. He’s not trained all week,” Schafer said.  Jamaica coach Winfired Schafer revealed that the centre-back has joined up with the squad after spending the last week partying in London and Thailand. last_img read more