Slow economy, fewer mergers

October 8, 2008
Back to TopCommentsE-mailPrintBookmark and Share
Here’s more proof that law firms are struggling in this economy: opportunities for mergers are lessening.

When I think of the economy worsening, I think law firms that are teetering on the brink of going under would try to find another firm to merge with as a way to save costs, combine efforts, and attract or keep clients.

But here’s an interesting observation from Altman Weil Mergerline, an online tracking service from the legal management consulting company Altman Weil, that didn’t cross my mind: the volatile economy we are currently experiencing is actually slowing mergers. So it seems, those firms who are struggling to stay afloat right now and may think merging with a stronger firm is the best way to keep the firm going may be surprised to find firms hunkering down and holding off on merging.

Despite the current slowdown, Altman Weil reports to date, 2008 has already seen 14 more mergers than in 2007, despite the fact third-quarter deals are down from last quarter.

According to Altman Weil, our state has already had three firm mergers this year: Sommer Barnard becoming Taft Stettinius & Hollister; Warsaw firm Miner Lemon & Walston merging with Indianapolis firm Stallwood Law Office; and McTurnan & Turner joining forces with Bingham McHale. In August, Indianapolis firm Coleman Stevenson announced it was merging with the Montel Law Firm of Carmel.

With the volatile economy, do you think Indiana will see any more mergers this year?
ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  1. Well, maybe it's because they are unelected, and, they have a tendency to strike down laws by elected officials from all over the country. When you have been taught that "Democracy" is something almost sacred, then, you will have a tendency to frown on such imperious conduct. Lawyers get acculturated in law school into thinking that this is the very essence of high minded government, but to people who are more heavily than King George ever did, they may not like it. Thanks for the information.

  2. I pd for a bankruptcy years ago with Mr Stiles and just this week received a garnishment from my pay! He never filed it even though he told me he would! Don't let this guy practice law ever again!!!

  3. Excellent initiative on the part of the AG. Thankfully someone takes action against predators taking advantage of people who have already been through the wringer. Well done!

  4. Conour will never turn these funds over to his defrauded clients. He tearfully told the court, and his daughters dutifully pledged in interviews, that his first priority is to repay every dime of the money he stole from his clients. Judge Young bought it, much to the chagrin of Conour’s victims. Why would Conour need the $2,262 anyway? Taxpayers are now supporting him, paying for his housing, utilities, food, healthcare, and clothing. If Conour puts the money anywhere but in the restitution fund, he’s proved, once again, what a con artist he continues to be and that he has never had any intention of repaying his clients. Judge Young will be proven wrong... again; Conour has no remorse and the Judge is one of the many conned.

  5. Pass Legislation to require guilty defendants to pay for the costs of lab work, etc as part of court costs...

ADVERTISEMENT