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Consultants See Bleak Future For Law Firms Into '09

Law360 (October 24, 2008, 12:00 AM EDT) -- Profits per equity partner in 2008 will drop by as much as 10 percent compared to 2007, and the drop could be as high as 15 percent or more for firms with large capital markets practices, according to consultants from Hildebrandt International, a legal profession management consulting firm.

In an advisory issued Wednesday in response to the current financial turmoil, Hildebrandt International said the economic downturn has reduced the amount of business for law firms and aborted the six-year stretch of unprecedented revenue and profit growth...
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