In a followup to our earlier post asking whether firms should raise the profits of partners, it looks like, for at least one prominent firm, the answer may be “Yes!” At least, for some partners.

We noted that according to the latest AmLaw 100 data for 2012,  “[t]he largest PPP drops were Fried Frank’s 16.8%

The Altman-Weil 5th annual survey of law firm leaders has been recently published to much commentary.

Some of the more striking results of the survey relate to leaders’ assessment of the market challenges (primarily reflecting the viewpoints of 250+lawyer law firms) and their firms’ ability to meet them.  Over the next 24 months, most managers

A question was posed recently in the press: – "Why are lawyers such terrible managers?

The article appeared in CNN’s online Money/Fortune magazine.  It cites statistics from the National Association for Legal Professionals Foundation that in 2010 law firms with 100 and fewer lawyers and 251-500 attorneys lost nearly one fifth of their

Given our last entry, it is not surprising that law school applications have been going down dramatically over the last few years. With the high cost of law school, the paucity of jobs (only half the number of jobs as there are law school graduates) and the dimming career and earnings prospects for lawyers who do get law jobs, young

There aren’t many developments in the legal industry that literally bowl you over–okay, the demise of Dewey & LeBoeuf was a fast-paced shocker. Hearing over the last few months questions about the future viability of one or another well-respected law school has been another. 

Let’s review the bidding in that part of the legal field: 

Unprepared to Practice. 

The following are some of the highlights from this year’s Futures Conference of the College of Law Practice Management held at Georgetown Law School last week:

New Model Law Firms

New entrants into law firm alternative business models are Clearspire, which consists of 2 joined companies –one providing legal services to clients and the other providing

Citi’s Midyear Report on the state of the legal industry for the first 6 months of this year is a cautionary read, harrowingly notable for its brevity.

"[W]e’re now concerned that this year the legal industry may be unable to match 2011’s low single-digit profit growth. There are three reasons for our concern: demand growth slowed during

Here is the latest on the financial state of the US legal industry.

Citibank reported last month that during the first quarter of 2012, demand for legal services grew a paltry 1.5%, although at least reversing the decline in the 2011 fourth quarter. But expense growth of 5.9% outpaced the meager revenue growth (1.2%) even more than in 2011–a rise

As another pundit among many slowing down to rubber neck the wreckage strewn from the Dewey & LeBoeuf crash, it’s hard to know where to start. The question that hovered on everyone’s minds since earlier in the year, as the media dissected every move there, was whether we were watching the disintegration, again, of a

In case anyone questions whether the legal industry is undergoing a fundamental transformation, you might consider some of these developments: 

  • The number of US law school applicants is down almost 25%, or over 200,000 applicants, over the last two years.
  • Which might be in part because the Bureau of Labor Statistics estimates that over the next ten years only