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Daily Business Review

Fla. Records Show Big Law Rates Rising as High as 36% in Recent Years, With Labor and Employment at the Top

Receipts from the Central Florida Tourism Oversight District show that labor and employment attorneys raised rates dramatically while increases in other practices were more muted. Firms billing the entity include FordHarrison, BakerHostelter and Greenberg Traurig. 
4 minute read

The American Lawyer

Holland & Hart Posts 22% PEP Bump Thanks to Strong Demand, Cost Management

Colorado's biggest law firm also increased gross revenue by 11.3% in 2023 as all major practice areas saw growth.
5 minute read

Daily Report Online

Bradley Arant Sees Revenues Rise and PEP Fall Amid 12% Equity Partner Expansion

The firm's PEP dropped by 5% to $820,000, as its equity tier expanded and its nonequity tier shrunk by 9%, bucking a trend in the industry of growing the nonequity ranks.
5 minute read

Daily Business Review

DeSantis Takeover of Disney's Home District Inflated Its Legal Budget by More Than 60%, Mostly Going to District's New Counsel

The biggest beneficiary is Winter Park-based boutique Fishback Dominick, which earned nearly $700,000 in the second half of 2023 from the Central Florida Oversight Tourism District. The firm hadn't previously billed the entity in recent years.
5 minute read

Pro Mid Market

Should Midsize Firms Get More Aggressive About Rate Increases?

As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.
7 minute read

Corporate Counsel

AI Might Kill Off the Billable Hour Someday, But It Will Be a Slow Death

"The people who regulate the profession are the profession. They are judges and members of the bar. So what incentive do they have to give away that control to the machine?" said Foster Sayers, vice president of legal ops at health tech company symplr.
7 minute read

Litigation Daily

Hours Down. Revenues Up. What Gives?

"Billable hours worked, the market's favored measure of demand for legal services, is simply becoming a less useful measurement," write the authors of a report issued this week by The Thomson Reuters Institute.
4 minute read

National Law Journal

As Associate Pay Raises Divide the Market, Several Law Firms Match, Others Hold Off

"Many do compete with the New York firms," said Wells Fargo's Owen Burman about D.C. firms. "But it's not universal."
5 minute read

The American Lawyer

Aggressive Rate Hikes, Head Count Management Helped Am Law 50 Squeeze Profits From Sluggish Demand in Q4

The Am Law 50 finished the fourth quarter with nearly 8% more fees worked than Q4 2022 despite a decline in demand, according to a new Thomson Reuters report.
3 minute read

Law.com

White Box vs. Black Box Compensation Systems

Having a compensation system that clearly outlines partner expectations, provides the partners with the ability to validate the results by communicating the results back to them does more to build collegiality than an opaque system that, by its design, promotes distrust and ill will among partners.
5 minute read

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