Lobby Firms Report Flat Earnings
Is it the Abramoff effect? Several lobbying firms say their midyear revenues are flat or down from record earnings in 2005, The Hill reports today. Lobbyists attribute the dip in part to the Abramoff scandal, but more to a less-ambitious legislative agenda, the report says.
Still, the picture is far from bleak. Patton Boggs retained its position as the firm with the highest revenues from lobbying. It earned $17.7 million for the first half of this year, compared with $17.9 million for the first half of 2005 and $37.2 million for the entire year.
For others, the numbers are up. Barbour Griffith & Rogers reported a 15 percent increase over the first six months of last year, up to $11.3 million. Hogan & Hartson reported six-month revenue of $9.7 million compared with $8 million in 2005. Preston Gates Ellis & Rouvelas Meeds reported six-month revenues of $6.4 million, compared with $5.1 million for the same period in 2005.
Overall, declines were not steep, The Hill reports, adding:
"Some firms said lost revenues were more than made up in other areas such as strategic consulting and regulatory efforts that are not required to be reported as part of the Lobbying Disclosure Act (LDA) as the industry continues to diversify. Revenues that fall outside LDA requirements are not represented in the figures in this article."
This year's survey included one new entrant, The Ashcroft Group, founded by former Attorney General John Ashcroft, with $1.4 million in revenue.
Posted by Robert J. Ambrogi on August 16, 2006 at 01:31 PM | Permalink
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