In finance, an exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency. For example, an interbank exchange rate of 91 Japanese yen (JPY, ¥) to the United States dollar (US$) means that ¥91 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥91. Exchange rates are determined in the foreign exchange market, which is open to a wide range of different types of buyers and sellers where currency trading is continuous: 24 hours a day except weekends, i.e.
Posts about Change
    • To Get the Price Right We Need Education

      In November 2014, Law Practice Advisor published a post about the then-recent results of the 2014 Chief Legal Officer Survey by Altman Weil. The opening line somewhat set the tone: “A new survey of chief legal officers blatantly exposes that corporate clients are interested only in discounts, low priced fees and cost reductions above and beyond anything else in their relation ...

      Kenneth Grady/ SeytLines- 3 readers -
    • New Year and New Job: How Do You Adapt to Change?

      Home > Leadership > New Year and New Job: How Do You Adapt to Change? The boxes are packed. The old office is empty. The new office is empty as well. The old computer has worn keys, the new keyboard clicks with excitement. I will have some news early next week about my new job … when the rest of the world actually gets back to work after the holidays … but I wanted to s ...

      Matthew Devries/ Best Practices Construction Law- 2 readers -
    • Big Brother & Its Holding Company (or "Hey, Hey, I’m the Tax Man")

      Quazzo v. Vermont Dept. of Taxes, 2014 VT 81 By Jeffrey M. Messina In this case, I take the bold position of saying almost everyone—the Tax Department as well as SCOV (save for a single Justice)—is wrong on this one. Bravo, Justice Skoglund, bravo. Now, I suppose, on to the case . . . This case is about a taxpayer (“Taxpayer”) appealing a decision from the Commissioner of Taxes ...

      Andrew Delaney/ SCOV Law- 2 readers -
  • Orange Juice, Pork Bellies, and Lawyers

    …, Technology skills, Project management skills, Leadership skills, Emotional intelligence, Marketing skills, and Industry knowledge. I’m sure we could add a few more to the list. Having sufficient skill in all of these areas is daunting for anyone, and twice as daunting for an attorney who was never trained in any of these areas. Because most…

    Kenneth Grady/ SeytLines- 2 readers -
  • The Efficiency – Change Paradox

    ….” As the page headline states, improving operational efficiency was ranked first among the twelve. But, ranked eighth among the nine was change management. To me, these results are a paradox. In almost every situation I have encountered where we want to introduce operational efficiency, change management is one of the top issues. In fact, if the group I’m…

    Kenneth Grady/ SeytLines- 4 readers -
  • The Age of Confusion and the Artificial Intelligence Revolution

    … contradictory and their proponents disagreed on how to implement change. One description is that it was a time of “increasing empiricism, scientific rigor, and reductionism, along with increasing questioning of religious orthodoxy.” The Industrial Revolution followed the Age of Enlightenment, lasting from roughly the 1760s to the 1840s. During…

    Kenneth Grady/ SeytLines- 2 readers -
  • Finding Middle Ground in the Technology Debate

    … capabilities are the highest items on their to-do lists. So, while superficially there may be cause for good cheer, the underlying currents of change are still quite strong. Finding the Middle Ground Which brings us back to scientific advancements and lawyers, and one of my chief concerns. There are many reasons lawyers resist change (I have catalogued…

    Kenneth Grady/ SeytLines- 1 readers -
  • The 50 Law Students

    … 5 similarly continue to develop and offer programs that show how legal service delivery can be restructured not just in the largest law firms and corporate law departments, but throughout every area touched by law. We have seen changes applied in government legal services, legal assistance centers, solo practices, and yes, even in large law firms…

    Kenneth Grady/ SeytLines- 3 readers -
  • The 300 Lawyers

    … to put in the way of change. You know those barriers. We can’t improve how we do things because: ☐ We don’t have the time; ☐ We don’t have the money; ☐ We don’t have the people; ☐ We don’t have the knowledge; ☐ We don’t have the technology; ☐ All of the above. Let’s call these the 6 Myths. In the 90 minutes we had for the Contractathon…

    Kenneth Grady/ SeytLines- 1 readers -
  • A Skinnerian View of Why Lawyers Don’t Change (Part 1)

    … reinforcement. I find this potential cause intriguing, perhaps because I studied psychology and neuroscience as an undergraduate in a department known for its preference for B.F. Skinner’s theories. Time for a Refresher For those who have repressed their psychology studies, B.F. Skinner was a noted psychologist who developed the reinforcement theory…

    Kenneth Grady/ SeytLines- 1 readers -
  • What Lawyers Will Do as Technology Takes Over (Part 1)

    … been where most knowledge workers lived during the Information Age. The computer revolution has coincided with the productivity revolution (lean, six sigma, lean six sigma, and so on). In science, we have seen tremendous leaps forward by left side thinkers. Left side thinkers preferred career paths for our children that used on left side thinking…

    Kenneth Grady/ SeytLines- 6 readers -
  • Lawyers, the End is Not Nigh for You Bring Wisdom

    … processing power every two to three years), means that the tipping point shift from lawyer processor to computer processor is on the near horizon. I believe the shift will take longer. Well-entrenched lawyer resistance to change, the lack of key incentives to change, regulatory resistance in the US, and the rather small market size for products…

    Kenneth Grady/ SeytLines- 3 readers -
  • Managing the Transition Through Change

    … for the status quo. Many are beginning to look at it more closely, considering how they will adapt. And a few have embraced new ways of doing business and servicing legal needs. All of these perspectives and positions are better understood when viewed through a change management lens. Whether lawyers as a group are change adverse or not, each individual…

    Karen Dyck/ Slaw- 5 readers -
  • Why a Computer Won’t Replace Law Firm Associates Tomorrow

    … diligence. Vendors are starting to find ways to gather and structure the unstructured information sitting in corporate and law firm databases. As more data becomes readily accessible and “meaningful,” software will use it more effectively. Right now, we all seem focused on when certain changes will occur. Instead of focusing on the unknowable, we…

    Kenneth Grady/ SeytLines- 6 readers -
Get the top posts daily into your mailbox!
More from around the web