Could this be the end of the current cycle of home price increases? Nationally for the 12 months to August 09, house values increased 6% and units 8.3%. But this trend appears to have ended with a thud in September 09 with a national increase of only 0.1% for the month [Source RPData]. Commentators refer to the end of the first home buyer wave and the changing interest rate cycle as possible explanations. This is only one month and the coming months will be keenly watched.
Slater & Gordon will make available discounted legal services to members of NSA. Read the full Media Statement
The Law Society of NSW recently released statistics showing that overall female solicitors at 1 July 2009 represented 45% of the profession. The percentage of female to male solicitors has been increasing steadily over the last two decades but the rate of increase has picked up in the last few years. The under 35s statistics provide a sign of the gender composition of the profession in the decades ahead.
Their solution: seek out a regulator somewhere, anywhere who can clamp down on such activity. How about calling it a Managed Investment Scheme? Link to article in The Age.
e.law has been in operation since 1999 and is a privately held company with approximately 50 full time staff plus casuals.
Competition setbacks in the banking industry include Westpac’s takeover of St George and CBA’s takeover of BankWest. Also, due to the credit squeeze, the major four banks have almost entirely pushed all other players out of the home lending market. Now the Federal Government is pumping an extra $8 billion into the mortgage market to “support competition”.
Thinking of starting your own practice? Here’s how not to go about doing it. Link to reported judgment. Link to reporting in smh.com.au.
Five Australian firms made it in the top 100 revenue list. Rankings in brackets: Mallesons Stephen Jaques (74); Freehills (86); Minter Ellison (87); Clayton Utz (89) and Allens Arthur Robinson (90) To get a perspective on the size of Australian firms, the combined revenue of these five firms is still less than the individual revenue of any of the top four in the list.
Read Response to outbursts reported on 18 September 2009 below.
Read about Federal Attorney-General Robert McLelland’s outbursts criticising the legal profession and current state of regulation, a new role for consumers of legal services and about New South Wales’ Lawcover itching to compete nationwide for the PI insurance pot of gold. Read the text of the Chief Justice of Western Australia’s speech on “The future of regulating the Legal Profession: Is the Profession Over Regulated?”