A tanking economy and crippled credit market posed a double blow for San Francisco Bay Area-based Am Law 100 firms in 2008. Firms battled rising costs and declining demand for legal services, which combined to deliver shrinking profit margins across the board. Firms with the least exposure to New York's financial sector fared better. But rising costs dragged down profits, and revenue growth slowed to single digits for most firms.
Revenue Reports for S.F. Area Firms Show Flat Is the New Up
January 12, 2009