Posted on 03/09/2009 11:08:37 AM PDT by Zakeet
Across the country, the recession is putting increasing pressure on law firms to slash spending and discount their services. Client demand for lower prices is prompting firms to outsource some of their document work to India, hire more temp or contract lawyers, shift from billable hours to fixed fees and eliminate staff.
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More than 60,000 people work in the legal profession in the Washington area, which, per capita, employs more in that sector than any other metropolitan region in the nation. Much of the work centers on the federal government, providing stability and steady work for many lawyers. But because so many global law firms have offices here, the local legal sector is subject to the same economic turmoil seen around much of the country. Experts say the changes across the country are unprecedented and are hitting the bigger firms in particular.
Unlike previous recessions, during which lawsuit filings increased, litigation this time is down sharply because the credit crunch is forcing corporations to curtail their legal spending, experts said. Partners are being de-equitized, associates fired, practice areas phased out, and some large firms are closing.
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Legal services generate about $135 billion a year nationally, representing about 1 percent of the gross domestic product. From 2004 to 2007, the latest year for which government data are available, spending in the profession grew annually from 6.1 percent to 7.7 percent. In comparison, the GDP as a whole grew only by about 3 percent annually during that time.
(Excerpt) Read more at washingtonpost.com ...
in some countries they divide up the lawyers work so much that you need three people to do the work of one person.
(by the folks there are more first year seats than there are law school applicants. AND one in four people in DC is a lawyer)
Have you ever tried to convince a university to close their highly profitable law school?
There are currently plans to open NEW law schools.
There are no plans to close ANY law school.
I know, but I can dream can’t I? LOL!!
From this: Barry never practiced law per se, He did some research for a Chicago firm. Taught at Chicago U. But he never passed the certification board for trial attorneys, to do either civil or criminal trial work. Not one day. As far as anyone can ever recall. He never stood in a court room to defend a client of any kind, at anyitme, anywhere.
I also heard he practiced civil rights law, whatever that is, for a few months before he was effectively run off by the Chicago law firm who hired him.
In other words, his legal career was just as distinguished as other notable Rat-lawyer-pols such as Bobby Kennedy, Jon-Jon Kennedy, Teddy Kennedy, Bubba Clinton, Hillary Clinton, etc.
I wonder if the Divorce Lawyer industry is suffering yet.
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