Canadian Lawyer

healthy economy needs optimism and positive momentum," says Stordy. "This new contract is providing that in a way that has not been seen for some time. The slow ramping up has also given " law firms a chance to right their own ships in anticipation of sunnier skies overhead. "A lot of hard work will be required, to position themselves." They're doing that internally — " says Roberts. "Law firms need and externally. McInnes Cooper, for example, has Knowledge Centre on its web site to highlight its expertise in this area as well as identify opportunities for clients. Stewart McKelvey is one of four found- ing partners (and the only law firm) of All Ships Rise, an initiative of the Halifax Chamber of Commerce, which was established to take advantage of spin-offs from the shipbuilding contract now and in the future. For and the swirl of activities have centred around the region's larger firms. But size is unlikely to be an exclusionary factor. "There will be roles for smaller firms," says Roberts. "To some extent, a rising tide lifts all boats." It also attracts attention from outside the most part, the created a Shipbuilding firms and their clients. "There are always negative consequences with any expect- ed boom such as increased traffic as the project ramps up to full capacity, pressure on wages for employees and perhaps pressure on office rents as real estate values rise — but we will take the downside willingly given the significant potential upside, impact of the project is not so great that it will disrupt labour markets or other Morley points out that the annual " says Stordy. businesses too severely. "Even though the yearly impact is large, the main impact comes from 25 years of con- sistent economic activity, like having an exceptional year in the Halifax economy and having that mul- tiplied by 25." But the race to greater prosperity has " he says. "It's just begun, and the finish line is nowhere in sight. Common sense must prevail, says Young. "I take a Presbyterian view that heaven must wait." should be your only source for spotlight the province. In at least two signifi- cant ways, the legal community on the East Coast is unique. First, it has truly regional firms; Cox & Palmer, McInnes Cooper, and Stewart McKelvey have offices in all four Atlantic provinces and offer integrated services. Equally unusual perhaps is the absence of national firms from the legal landscape. The general thinking has been that the enticements of the region have not been big enough to attract their attention. Newfoundland and Labrador, with its wealth of offshore oil, has started to change that thinking, and $25 billion may spur some come- from-away firms to re-evaluate their East Coast absence. Lawyers in the province aren't wor- ried. Tradition and distinctiveness will continue to set them apart, they believe. "National firms haven't seen the neces- sity of locating here yet," says Gallivan. "We have a very talented, competent bar here, and regional firms are an anomaly. Currently there is little to dispel the vision of smooth sailing ahead for law " www.CANADIAN Lawyermag.com SEPTEMBER 2012 41 ntitled-7 1 12-08-07 9:57 AM All the information you need – Easy to complete applications and a complete list of underwriting and cancellation requirements. Quick access – Immediate online access to our applications and bonding requirements. Short Form Administration Bond Application – A quick, no-fuss application completed by the lawyer for estates under $100,000. Experience – Our capable and experienced team of surety professionals Your own all-in-one-place source for: www.westernsurety.ca For a Western Surety Company broker in your area, please call: Western Canada: 1-800-475-4454 Ontario: Atlantic Canada: 1-866-615-4547 1-888-452-4455 deliver fast and reliable service on all fiduciary bonds. Western Surety has a tradition of excellence dating back to 1909.

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