Law Firm Chiefs Brace For Sliding Profits, US Economy

Law360, New York (September 11, 2013, 5:20 PM EDT) -- Firm leaders are feeling bearish about their financial prospects and the overall U.S. economy, according to a survey released Wednesday.

The Citi Private Bank "Law Watch" confidence survey for the third quarter of the year showed an across-the-board tilt toward pessimism among managing partners about money and market conditions, along with a stubborn optimism when it comes to hiring.

"We continue to have a fairly lackluster demand [for legal services], particularly on the transactional side and that continues to befuddle people," Dan DiPietro, chairman of the...
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