Bay Area: hit by tech slumpCalifornia’s elite technology firms between them lost more than $200m (£125m) of fee income in 2002, according to new research which shows revenues at the worst-hit firm – Brobeck Phleger & Harrison – falling by nearly $100m (£62.5m) on its 2001 results.

Research by San Francisco magazine The Recorder on the financial performance of the top 10 law firms in the Bay Area, home to the US’ once-thriving technology specialists, shows a net fall in fee income of $185m (£115m) in 2002.