Holy profit$, Batman: Bloggers on Am Law 100
As the Am Law 100 list of top-grossing law firms makes its way around the Internet, crowned by a five with stunning, billion-dollar-plus earnings, the firm-watchers on Law.com's blog network have a few thoughts to add. Here's a roundup:
The Wired GC: "... These are really staggering numbers when you look at the column showing law firms with revenues into 10 figures. Sort of makes you feel less guilty about being taken to lunch. Next time I’m ordering a double cheeseburger ..."
Ron Friedmann: "Some quick (and unrelated observations) ... To the best of my knowledge, recent mergers have not changed the top-10 rankings. A couple of firms in the top 10 did merge -- Sidley Austin with Brown & Wood; Mayer Brown with Rowe & Maw -- but that was a couple of years or more ago if memory serves ..."
Mike Fox says the survey takes him back 30 years, "back to when I first was exposed to the world of "big law firms" sometime in my freshman year at the University of Texas School of Law in the fall of 1972 ... I have no clue what the annual revenues were, but I do know that the starting salaries when I graduated in the spring of 1975 was a princely $1,300 a month (the quick math is $15,600 a year.) "
Matt Homann: In his post, "Ten Law Firms that Wouldn't Hire Me Out of Law School," Homann writes that "you can order an electronic spreadsheet or subscribe to American Lawyer to see the other 90 firms that wouldn’t have hired me either." Heh.
Bruce MacEwen: "My very quick and dirty calculation of the change in revenue over last year's AmLaw 100 is that at the top (Skadden, what a shock) the increase was 8.27% ($1.440-billion vs. $1.330-billion), while at the bottom (Ballard Spahr this year, Preston Gates last year) the increase was only 5.82% ($200-million vs. $189-million). Are the rich getting richer? Very preliminarily, it certainly looks that way."
Also providing a sneak-peek to this story are, in alphabetical order, Monica Bay, Michael Cernovich, Geoff Gussis and J. Craig Williams.
Posted by Laurel Newby on June 28, 2005 at 02:44 PM | Permalink
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