In late December , as managing partners did their year-end tallies, they kept a sharp eye on realization rates. Would the real value of attorney time in 2010 fall further from the actual attorney time clocked? And will realization rates ever return to their historic levels?
Despite an uptick in work, realization was down at many firms. “I hear it everywhere,” says Orrick, Herrington & Sutcliffe CEO Ralph Baxter. “Clients are paying less than they paid before. You can measure it.” Greenberg Traurig CEO Richard Rosenbaum agrees: “Most people are seeing sharper drops in realization than they’ve seen before.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
