Economy has shifted law firm leaders' attitudes

May 16, 2012
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The downturn in the economy has led to more law firm leaders accepting legal market trends that many had dismissed several years ago.

According to Altman Weil’s 2012 Law Firms in Transition survey, the legal management consulting company found that the emerging market trends that were viewed with skepticism in 2009 – when the company first produced this survey – have become majority opinions this year.

In 2009, 42 percent of those surveyed believed that more price competition will be a permanent fixture of the post-recession legal market; 92 percent believe that now.

In 2009, 23 percent of firm leaders believed that there would be fewer equity partners in law firms than in the past; this year, 68 percent believed that.

This year, 84 percent of those surveyed believe more commoditization of legal work will be a permanent change; in 2009, only 26 percent of respondents thought that was the case.  

Smaller first-year classes are most likely here to stay. This year, 55 percent responded they believe that, whereas back in 2009, only 11 percent did.

The survey also looks at the confidence and concerns law firm leaders in the U.S. have. The leaders gave themselves a median rating of seven on a scale of zero (not at all confident) to 10 (completely confident) regarding their overall confidence that their firms are fully prepared to keep pace with the challenges of the new legal marketplace. Last year, the median rating was eight.

Altman Weil found respondents’ primary concerns for the next two years include sustaining and growing profitability, succession, and attracting and maintaining talented lawyers.

The full 75-page survey is available on Altman Weil’s website.
 

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  1. Good riddance to this dangerous activist judge

  2. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

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  5. Dear Fan, let me help you correct the title to your post. "ACLU is [Left] most of the time" will render it accurate. Just google it if you doubt that I am, err, "right" about this: "By the mid-1930s, Roger Nash Baldwin had carved out a well-established reputation as America’s foremost civil libertarian. He was, at the same time, one of the nation’s leading figures in left-of-center circles. Founder and long time director of the American Civil Liberties Union, Baldwin was a firm Popular Fronter who believed that forces on the left side of the political spectrum should unite to ward off the threat posed by right-wing aggressors and to advance progressive causes. Baldwin’s expansive civil liberties perspective, coupled with his determined belief in the need for sweeping socioeconomic change, sometimes resulted in contradictory and controversial pronouncements. That made him something of a lightning rod for those who painted the ACLU with a red brush." http://www.harvardsquarelibrary.org/biographies/roger-baldwin-2/ "[George Soros underwrites the ACLU' which It supports open borders, has rushed to the defense of suspected terrorists and their abettors, and appointed former New Left terrorist Bernardine Dohrn to its Advisory Board." http://www.discoverthenetworks.org/viewSubCategory.asp?id=1237 "The creation of non-profit law firms ushered in an era of progressive public interest firms modeled after already established like the National Association for the Advancement of Colored People ("NAACP") and the American Civil Liberties Union ("ACLU") to advance progressive causes from the environmental protection to consumer advocacy." https://en.wikipedia.org/wiki/Cause_lawyering

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