Friday, April 20, 2012
Lawyers
Lawyers have had a poor image for a long time, and now they are billing themselves out of business. They have upset the one audience they need to sustain $800 a hour rates -- clients. Corporations now find other ways to get basic legal work done that doesn't require sending it to their outside law firms. One wonders how a situation like this came to be. One answer is greed, pure and simple. Making partner in a major law firm was a ticket to becoming a multi-millionaire. The multi-millionaires over time forgot that clients pay the bills and clients have choices, which they took. So now major law firms, which were an oligopoly, have to compete along with everyone else. As the article notes, many are not doing well, and several have ceased to exist. Star lawyers are moving about like free agent ball players. Lesser lawyers are looking for work. Law firms are in need of better PR.
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