LW500: Looking back on ten years of turbulent times

This week marks the 500th print edition of Lawyers Weekly. That's 500 editions of legal news, views and f

Promoted by Lawyers Weekly 27 August 2010 Big Law
expand image

This week marks the 500th print edition of Lawyers Weekly. That's 500 editions of legal news, views and features delivered every week to the mailboxes of lawyers across the country.

These 500 editions have spanned a decade; featured four editors, a number of journalists, significant changes in how news and content is delivered and a readership that's graduated and retired but for the most part remained loyal. Publishing Lawyers Weekly has not always been a smooth ride.

The publication first hit the press during a distinct period of optimism. The year was 2000, an aura of invincibility surrounded legal businesses and indeed the world at large. It was, after all, a relatively peaceful time, when sport took priority (the Sydney Olympics were on our doorstep) and globalisation was at full capacity.

The tide turned following 9/11 as the world entered recession, before quickly picking up again. There was the golden age of recruitment. Jobs were plenty but talent was scarce and law firms suffered at the hands of the talent shortage. Salaries skyrocketed and the lure of London called. At the time, it seemed only natural that Australian lawyers should complete a stint overseas - it was a structural brain drain that would wreak havoc on law firms who invested in their talent.

Enter the Global Financial Crisis. The talent crisis turned upside down. Law firms found themselves overstaffed and the redundancy rounds began. Later, cautious optimism prevailed and legal employers set the task of rebuilding their practices and capabilities to cater for a recovering economy and surge in legal work.

Now, in 2010, while many of us are still waiting for the full extent of the rebound in legal business to occur, we can conclude that the last decade has seen legal services turned on its head. Global law firms have increased their reach, law firms have incorporated - even listed - legal businesses have merged, a GST has operated for more than a decade, High Court judges have come and gone, IR laws have changed multiple times, the "moral challenge" of climate change has risen to the surface - then quickly disappeared - the mining and resources boom has truly taken off.

Publishing Lawyers Weekly has been as much of a rollercoaster ride as working in the legal business has been. We hope you've enjoyed it; we certainly have and look forward to the next 500 issues.

- Angela Priestley

More reflections on a decade of legal news:

>> Once upon a billable hour: the legal world in 2000

>> From the vault: a slideshow of ten years of legal news

>> Looking back at 500 issues of Lawyers Weekly

>> Then & Now: The legal industry in 2000 - crunching the numbers

>> Then & Now: Turning the page on law firm website design

You need to be a member to post comments. Become a member for free today!