The sports lesson that is most pronounced in my short athletic career is the need for confidence. Without a belief that you can win, you never will.
I am concerned that we, as a community and a nation, may be lacking confidence. An extended recession is beating us down. The University of Michigan's Consumer Sentiment Index dropped more than ten points in February, 2010. We all hoped and possibly expected that this economic climate would pass more quickly. "Swagger" has been replaced by anxiety, concern and insecurity. This sentiment, in itself, is dangerous. The golfer that loses confidence in his ability to hit the ball straight will not hit it straight because a big part of the game is mental. If we do not face adversity with confidence in our ability to overcome it, adversity will subsume us.
We at LP are actually optimistic about 2010 because our position as counsel to hundreds of companies allows us to see economic activity in a variety of industries and markets. We know that clients are performing transactions, and many clients are hiring. Some of our banking clients are lending, and a lot of our clients are tired of sitting on the sidelines. Opportunities are available, and many are seizing them. Business seems to be picking up, and that is good news. I am not being Pollyanna here – I recognize that we are still in a dog fight. The recovery will be slow, but the real question you have to ask yourself is "are you confident that you will overcome this adversity?" It is time to regain some swagger, even if it is somewhat modest at first.
As always, LP is ready to help as you need us. We have used this march through adversity to focus and become a better firm. We took to heart the comments that we collected over the past two years through our client interview program. Your input has helped us improve our client service and the way we interact with you.
One of the themes that we heard in our client interviews was that you would like the information that you receive from us to be more targeted to your needs and your business. Former versions of the Edge have been about what is going on at our firm. We can do better, and we are, starting with this issue. As with many of the electronic newsletters and legal alerts that we are now sending out, our focus for the Edge is giving you information that will help you succeed in running your business, not a display of what is going on in our business. Along those lines, this issue includes articles about social networking, using the Internet in employment screening, and the recent changes in the laws regarding estate taxes. These issues can affect your business and your pocketbook, so we are covering them.
We hope that this new electronic format for the Edge helps to create a more interactive experience with our clients. The links in this newsletter will take you to additional, related content on our Web site that also is geared toward helping you succeed in your company on a personal and professional level.
We hope you like this issue of the Edge.
