Yet Another Warning for Law Firms That Major Change Is Afoot

, The Am Law Daily

   |3 Comments

The latest report on the challenges facing the legal industry, this one produced by the Center for the Study of the Legal Profession at Georgetown University Law Center and Thomson Reuters Peer Monitor, says the modest gains enjoyed by firms last year further confirms that the sector won't be returning to its prerecession peak.

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What's being said

  • Yan Leychkis

    "Billing rates rose an average of 3.4 percent in 2012, from $464 per hour to $507". I guess it's true what they say about lawyers being horrible at math. $464 to $507 is an increase of $43 or 9.3%.

  • not available

    Let's not forget that a number of the large AmLaw firms have increased their profits per partner by the trick de jour - ."de-partnering" productive partners in their 40's and early 50's who are not rainmakers. Makes the numbers look good for the "real" partners left standing. what does it do for morale? Or what does it say about loyalty to an organization?

  • We the People

    Major change also includes alimony reform. Members of the Bar should support this change as it is inevitable and in the public’s best interest. Lawyers remember your ethics. Do good, do not do harm.
    If New Jersey is to be a progressive state then the Alimony Statutes should reflect 21st century norms.
    The law needs to change and require mandatory arbitration and right to know information with every marriage certificate of the down side of a divorce proceeding, from the possibility of incarceration to realizing that you will not live in the manner you were accustomed too after your divorce and most importantly that the Superior Court Judge will become the manager of your family.
    Bar members help us work through these changes, we need your help and support.
    Concerned Citizen, I am.

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