An article in a recent issue of the Am Law Daily authored by Dan Pietro and Gretta Rusanow at Citi Private Bank’s Law Firm Group indicates that more doom and gloom may lie ahead for law firms. Demand growth has slowed, inventories of unbilled time have grown little from the prior year, which is not a good omen for future collections, and signs indicate that realization will decline during the remainder of 2012, squeezing profit margins even further.
In light of this dire prediction, below are several strategies that lawyer-managers should consider to cope with these difficult times.
A Short-Term Plan
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
