How different firms fare financially year to year is one thing, but how they have weathered the Great Recession is another.
The American Lawyer, an affiliate of The Legal, released this month its first Recession Performance Index as part of its look at the Global 100 law firms. The index tracks the compound annual growth rate of law firms from 2007 to 2009 in each of four areas: gross revenue, lawyer headcount, revenue per lawyer (RPL) and profits per partner (PPP). The firms are then given an overall performance index score by adding the percentages in the four categories to either get a positive or negative number.
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