Comments on: Spending Cuts Only Affecting Other Guys http://lawshucks.com/2008/12/spending-cuts-only-affecting-other-guys/ Life in, and after, BigLaw Wed, 28 Jul 2010 15:33:40 +0000 hourly 1 http://wordpress.org/?v=3.0 By: MBA Day Camp Prof http://lawshucks.com/2008/12/spending-cuts-only-affecting-other-guys/#comment-4 MBA Day Camp Prof Mon, 22 Dec 2008 20:39:35 +0000 http://lawshucks.com/?p=48#comment-4 "Why the disconnect? Are inhouse counsel overstating their cuts or do the firms just not grasp how bad things are?" The cuts may not have totally hit so some firms may be "hoping for the best" Law firms may be banking on the notion that they are diversified (IPOs down but backruptcy is up) and that they are not a discretionary spend...but with the consoladation on the client side and firms looking to slash every penny....Law firms will have to make some cuts/changes to their model. Expect more fixed fee arrangements which will really challenge the Partner/Associate mdoel “Why the disconnect? Are inhouse counsel overstating their cuts or do the firms just not grasp how bad things are?”

The cuts may not have totally hit so some firms may be “hoping for the best” Law firms may be banking on the notion that they are diversified (IPOs down but backruptcy is up) and that they are not a discretionary spend…but with the consoladation on the client side and firms looking to slash every penny….Law firms will have to make some cuts/changes to their model. Expect more fixed fee arrangements which will really challenge the Partner/Associate mdoel

]]> By: MBA Day Camp Prof http://lawshucks.com/2008/12/spending-cuts-only-affecting-other-guys/#comment-3069 MBA Day Camp Prof Mon, 22 Dec 2008 20:39:35 +0000 http://lawshucks.com/?p=48#comment-3069 "Why the disconnect? Are inhouse counsel overstating their cuts or do the firms just not grasp how bad things are?" The cuts may not have totally hit so some firms may be "hoping for the best" Law firms may be banking on the notion that they are diversified (IPOs down but backruptcy is up) and that they are not a discretionary spend...but with the consoladation on the client side and firms looking to slash every penny....Law firms will have to make some cuts/changes to their model. Expect more fixed fee arrangements which will really challenge the Partner/Associate mdoel “Why the disconnect? Are inhouse counsel overstating their cuts or do the firms just not grasp how bad things are?”

The cuts may not have totally hit so some firms may be “hoping for the best” Law firms may be banking on the notion that they are diversified (IPOs down but backruptcy is up) and that they are not a discretionary spend…but with the consoladation on the client side and firms looking to slash every penny….Law firms will have to make some cuts/changes to their model. Expect more fixed fee arrangements which will really challenge the Partner/Associate mdoel

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