As I review fiscal year 2008 data reported by the Law Firm Group at Citi Private Bank in our latest survey, I see some bad news - and some really bad news.First the bad news: profits per equity partner (PEP) were down 3%; this figure would have been a bit worse if the three Am Law 200 firms that failed last year were included. 'Bad news?' you ask. 'That is much better than we had expected. I guess law firms have once again shown they're bulletproof.'"This sort of reaction shows why this is truly bad news. When I say at partner retreats that the average Joe and Jane are change-averse, but lawyers are even more so, I get a lot of knowing chuckles. It takes really, really bad news to move lawyers to accept change. My fear is that this 3% decline will be greeted with relief and complacency.I have a story that supports my concern. Recently I had lunch with an executive committee member of a
May 13, 2009 at 10:10 PM
1 minute read
The original version of this story was published on Legalweek
Early financial data suggests a grim 2009. It’s the perfect time for firms to fix their business model – if they have the courage, says Dan DiPietro
I review fiscal year 2008 data reported by the Law Firm Group at Citi Private Bank in our latest survey, I see some bad news – and some really bad news.
Presented by BigVoodoo
Celebrating achievement, excellence, and innovation in the legal profession in the UK.
Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.
Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.
New York boutique law firm currently seeking an attorney with substantive knowledge and at least three years experience litigating in New Yo...
LOGS Legal Group LLP is looking to add a Managing Attorney to our Cincinnati, Ohio office. JOB TITLE: Managing Attorney BUSINESS UNIT: Le...
Capehart Scatchard seeks a personal injury defense litigation associate with 1-4 years experience. Hybrid remote work permitted. Must be ad...
