The managing partner of a 47-attorney, growth-oriented Philadelphia firm recently wrote to me and asked whether it makes economic sense for his firm to acquire as a lateral hire a senior attorney with a foreclosure practice.

The managing partner expressed uncertainty about the feasibility of this acquisition for financial and cultural reasons. However, several of his partners who endorse the acquisition of this senior attorney believe that any additional fees are a good thing, as long as the direct labor and incremental costs are covered.