Survey Shows The Winds of Change in Legal Field
A wide-ranging Altman Weil survey released Tuesday offers some perspective on a multitude of issues currently facing law firms today.…
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Morning Roundup
Good morning everyone! Today is Thursday, April 8, and here's a look back at yesterday's news... Altman Weil is predicting…
Morning Roundup
Good morning! Today is Friday, January 15, and here's a look at yesterday top stories... A study from Altman Weil…
Study Indicates Billing Rates to Rise This Year
A survey conducted by Altman Weil projects U.S. law firms will raise billing rates by an average of 3.2 percent…
More on Law Firm Mergers
Yesterday we reported that law firm mergers were down 24% last year. That's according to a report from Altman Weil.…
More Mergers Expected After Slow ’09
Law firm mergers are expected to rise in 2010 after falling by 24 percent in 2009. There were 53 mergers…
Morning Roundup
Good morning everyone. Before we jump into the Monday grind, here's a quick look back at Friday's news... Katten moved…
Law Firm Mergers are up in Third Quarter
According to a new report from Altman Weil 13 US law firms announced mergers in the third quarter. Although still…
Report: Law Firm Mergers Up 33% in Q1
Legal management consultancy Altman Weil reports that law firm mergers and acquisitions increased by 33% during Q1. Altman Weil says…
Two Thirds of Law Firms Expect Lower 2009 Revenues; 51% to Terminate Staff
Two-thirds of all US law firms expect lower 2009 revenues, although the economic harm to date has mostly hurt large…
Law Firm Mergers at an All Time High
In just eight short months, law firm mergers have increased by 79 percent which means that law firm mergers are at an all time high. It is believed that the downward spiral of the economy may be the partial reason as to why the mergers have increased so drastically. The United States is currently dealing with one of the most devastating recessions of all time. In fact, most people and companies compare the current recession to The Great Depression which began in 1929. While law firms have merged together for years as a strategic move, many law firms are now merging with other law firms to works as one company instead of several individual companies as a means of survival during such a rough economy. A merger is typically designed to combine one or more companies together. When the two companies come together to merge, they must make a mutual agreement about the merge with one another. Because the economy has not improved over a period of time, many of the law firms in the United States have felt that it would be beneficial to merge together with other separate law firms as one. The principal of Altman Weil, Ward Bower, has said, "During the recession and in the immediate aftermath of the recession, firms were in what I'm going to call a 'survival mode,' not a strategy mode.” Some law firms use a merge as a means of strategy but because of the recession, it is likely that most firms are using it as a means of survival. He also said, "Now that the economy has grown, they're dusting off their strategies." Since there has not been much change to the economy from 2010 to 2011, law firms are still doing what they can to continue to thrive and be successful. In Pennsylvania alone, six mergers have taken place from the months of January to September.…