SAN FRANCISCO — With looming uncertainty over prospects for 2009, major Los Angeles-based firms are counting 2008′s single-digit revenue growth — or even a slight decline — as a boon.They’re bracing for worse conditions in 2009.
Revenue grew slightly at Gibson, Dunn & Crutcher and at Paul, Hastings, Janofsky & Walker, while L.A.’s largest firm, Latham & Watkins, saw a 4 percent decline. The largest growth came at smaller firms, like Quinn Emmanuel Urquhart Oliver & Hedges; Sheppard, Mullin, Richter & Hampton; Manatt, Phelps & Phillips; and Allen Matkins Leck Gamble Mallory & Natsis. (See chart here.)
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