Am Law 200 Pwns Am Law 100
Congratulations Am Law 200 firms. You have weathered all the disparaging comments about your cities, your practice, the quality of lawyers that work at your firms. And now, as we stare into the sewage drain of the American legal economy, the Am Law 200 firms are coming out smelling like roses:
Reports of their demise, it turns out, were premature. For years, the regional firms that constitute much of the Second Hundred were told that they were exactly the wrong size: too big to compete with the narrow focus of boutiques and too small to match The Am Law 100’s national footprints and marquee names. But last year, as the financial sector began its meltdown, the Second Hundred’s slow-growth strategies were vindicated.While average revenue per lawyer at The Am Law 100 decreased by 1.2 percent in 2008 (the first decline since 1991), Second Hundred firms were essentially flat. And when the Second Hundred’s national firms, as well as those in the nation’s biggest money centers—Boston, Chicago, Los Angeles, New York, San Francisco, and Washington, D.C.—are left out of the calculations, average RPL growth was 1 percent. In all, 49 Second Hundred firms posted increases in RPL, compared to 42 Am Law 100 firms.
As Bob Sugar might say: “This is a nice moment for you, I’m going to let you have it.”
After the jump, more ego-shattering news for coastal, prestige conscious associates and partners.
The success of Am Law 200 firms when compared against Am Law 100 firms is even more stark when you remove national Am Law 200 firms from the data set:
What’s more, the firms that outperformed were the ones that pointedly ignored The Am Law 100’s usual recipe for growth—relentless focus on the most lucrative markets, practices, and clients. This time around, it was Second Hundred firms based in middle markets that showed the most growth. Milwaukee’s Second Hundred firms increased their revenue per lawyer by an average of 3.2 percent. Indianapolis’s and Kansas City, Missouri’s showed average RPL gains of 3.1 percent and 7.9 percent, respectively. Snell & Wilmer, the only Phoenix firm with a multiyear presence in The Am Law 200 (a second firm, Lewis and Roca, was added this year), increased its RPL by 8.6 percent.Firms in these markets increased their profits per partner by an average of 1.5 - 6.4 percent, compared to an average decline of 2.6 percent for the Second Hundred as a whole and 4.3 percent for The Am Law 100.
Yeah, well, I’d rather be BROKE and living in a GUTTER in The City than live large and in charge in Tuscon! It’s called cultural relevance baby! … Yeah! … Because … *sigh* … has the deadline passed for the Arizona bar exam?
Practice diversity was the key to success last year, but we’re not just talking about the requisite balance of corporate, restructuring, and litigation matters. For many Second Hundred firms, labor and employment, trusts and estates, and environmental practices significantly boosted revenue. Kansas City’s Lathrop & Gage increased its RPL by 7.8 percent, in part because of an employment law practice that increased its hours by almost 6 percent and a trusts and estates practice that grew more than 10 percent, says chief executive officer Joel Voran. Those practices, along with equally strong increases in tort and IP litigation groups, bolstered the firm’s performance in a year when its real estate practice was flat and its corporate practice was down about 1 percent, he says.
I’m kind of getting used to upside down world. I think my chaotic-good nature will be helpful in this new universe.
THE AM LAW 200 2009: Where the Work Was [American Lawyer]
Earlier: The AmLaw 100
(94) 
Comments
Damn this shit
One hundred and first!
I call BS, I used to work at an Am Law 200 and just like all "voluntary" statistics, they are just as capable of lying as the big guys, except that no one cares enough to fact-check them.
In this economy revenue is more than billables, its receivables, and there's no way that a regional law firm is more successful at getting blood out of a turnip than Sullivan & Cromwell.
Fuck yo couch, Am100!
Fuck yo couch!
"As Bob Sugar might say: 'This is a nice moment for you, I'm going to let you have it."
Or as Anton Chigurh would say: “Heads or Tails; call it!”
But I'd still rather be underworked at an am100 firm in Chicago or minneapolis than be overworked in milwuakee
Who knew that profits would be higher when there is less competition (less competitive cities and less crowded practice areas), and that leverage (increasing fixed costs, i.e., associates) to boost profits would backfire when the economy slows.
Someone should win a Nobel Prize for these insights.
Chaotic-good? What are you? A twelfth level ranger?
Dog bites man.
Smell my fingers.
Yeah ...you know what I did last night.
Yeah ...........you know.
overworked in milwaukee... sounds like a cbs sitcom.
The shops comprising AM Law 100-200 are all non-peer firms. I would never sully my reputation, pedigree or standing in the legal community by bringing my portfolio of business there. Let them enjoy their moment in the sun courtesy of this insignificant survey. The bottom line is my PPP share has and will always be higher than any partner at AM Law 100-200.
Jesus, how much is the media in the tank for BO, when you have headlines that say "unemployment falls more than expected" and the story is this:
"The Labor Department said the number of initial claims for unemployment insurance dropped to a seasonally adjusted 623,000, from a revised figure of 636,000 in the previous week. It was below analysts' estimates of 635,000."
Wonderful. It was 13,000 less shittier than anticipated. The percentage difference is not worth discussing. Wasn't it a couple months ago that sub-600,000 losses were reported (incorrectly)?
We're all in trouble.
BREAKING NEWS:
Totalitarianism has arrived: Obama closing car dealerships owned by conservatives; politics more of a concern than economy.
Gives dealerships owned by BET founder a pass. GOP congressman/dealership owner hit hard.
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Furor-grows-over-partisan-car-dealer-closings-46261447.html
Am Law 200 to 190!
While suturing a cut on the hand of a 75 year old rancher, whose hand was caught in the gate while working cattle, the doctor struck up a conversation with the old man. Eventually the topic got around to Obama.
The old rancher said, “Well, ya know, Obama is a ‘Post Turtle.’”
Not being familiar with the term, the doctor asked him what a “post turtle” was. The old rancher said, “When you’re driving down a country road and you come across a fence post with a turtle balanced on top, that’s a ‘post turtle.’” The old rancher saw the puzzled look on the doctor's face so he continued to explain. “You know he didn't get up there by himself, he doesn't belong up there, and he doesn’t know what to do while he’s up there, and you just wonder what kind of dumb ass put him up there to begin with.”
Liberal fags running this country into the ground. Die of AIDS ans Sickle Cell Anemia already.
16,
When you said Obama, did you mean George W. Bush? Because, based on what you wrote, and based on Bush II's complete and utter failure on every single front except cutting taxes (even failing on points Bush II supporters like, such as illegal immigration, border security, gay marriage, etc.), Bush II seems like THE post turtle.
18, get your head out of your ass....Obama is the President, the Dems control both houses, and the country is going to shit. What's the excuse now?
Michele Obama's penis could not be any happier with this result. Now tickle her balls, peons!
"You have weathered all the disparaging comments about your cities, your practice, the quality of lawyers that work at your firms. "
Elie, you need an "AND" in there.
--Grammar Police
16 - It's funny how you support the guy that broke the economy but not the guy who's trying to fix it. I guess that's what happens when you follow such a backwards political ideology.
Doesn't the AMLAW 200 necessarily include the AMLAW 100?
Elie, don't you really mean AMLAW 101-200?
Number 10, is that Haiku? You forgot a seasonal reference.
19,
I guess you didn't major in economics. Contrary to what retards believe, there is no magic wand to completely fix the economy in 5 months, especially after it's been fucked nearly beyond repair for 8 years.
22, Obama is doing a helluva job fixing it, more unemployment, more taxes on private businesses, more pain.
How is he fixing it? Seriously, do you have a fucking clue? If so, share it.
I'm just thankful that the wingnuts have been reduced to this.
"Contrary to what retards believe, there is no magic wand to completely fix the economy in 5 months"
Isn't that how Obama got elected. With Hope-n-Change.
What's the plan?
Democrats can't defend Obama, so they continue to lie about Bush.
Any liberal want to take a crack at actually defending the epically stupid decision of Obama and the Democrat Congress to quadruple the annual deficit overnight? Betcha can't do it. Oh, I know: it's all Bush's fault.
Enjoy your steep, steep decline.
I guess the original Partner Emeritus must have finished finals and is too busy to post anymore (could he have actually landed a job?). This new version is as washed out and lame as his avatar.
29 - yes, it's the Democrats on a steep decline.
How's that denial going?
To any retards who think the media isn't radically slanted to the left, please compare the Washington Post's headlines for the past 6 Supreme Court nominations.
It's laughably biased.
http://newsbusters.org/blogs/tim-graham/2009/05/27/washington-post-displays-labeling-bias-over-recent-supreme-court-picks
"yes, it's the Democrats on a steep decline. "
No, its the U.S. on a steep decline, the Dems are just leading the way.
We're fucked.
19 - were you in a coma from 2000-2008? The country went hell while your comander in chief was in charge. 22 is right on the mark.
33 - after 8 years going down a steep slope into the shit pile, it's hard to stop the sled.
22 - I only skimmed the comments briefly, but I think that was all it took to understand that 16 did not say that he supported Bush. You're really stupid.
Yes, idiots, and more government control of things is really going to "fix" things.
Dangerous fools, liberals are.
24, if I'm not mistaken 1st year associate salaries boomed between 2000 and 2008.
But that's a digression, can we talk about now? How is Obama and the Dems helping anything? Can you defend their policies? How are they fixing the unemployment situation? How are things generally in the U.S.? IT SUCKS!!!!!
The ball is in your court, how are you fixing it?
--19
revenues don't serve as a measure of prestige. am law 100 vs. 200 is really a trivial distinction.
Remember that scene from Citizen Kane? Where he's on his death bed muttering "R-Rosebud?" I swear some of these liberals will be on their death beds muttering "B-Bush."
Bush inherited a recession from Clinton, and he successfully pulled us out of it -- and 9/11's amplification of it. 50 straight months of job growth, a record. He kept us safe for 7 years after 9/11, freed 50 million people from brutal, sadistic regimes in Iraq and Afghanistan, and did more to save the lives of African children than all of you limosine liberals combined for the last 40 years. The current economic crisis was caused by the sub-prime mess, which you can attribute to Wall St. first, dumb homeowers second, liberal Democrats third (for insisting that unqualified applicants get mortgages), and Republicans last -- for not stopping this 20-year train of liberal-induced lunacy. Any questions? But I know all this is new to you liberal idiots. After all, you get your news from Comedy Central.
Liberal fags and their socialist propaganda.
Smell my fingers
Yeah .... you know.
38, it's very simple really. Associate jobs and salaries will skyrocket once Obama raises taxes on law firm partners and associates. It's their own fault they studied and worked hard. It's only fair that we take more money from married couples making over $125k each in order to spread the wealth. Fairness, fairness, fairness. Did I say "fairness" yet?
Change we can believe in.
#38 - I think Tim Tebow just plowed your mother.
I guess commenting on the actual topic of the post is a no-go here.
Seriously. ATL should have a comment policy where non-topic comments are deleted. It's a waste.
41: please do tell me the flavor of that kool-aid you've been drinking. I'd love to try a taste.
PSA: Next time you're attempting to appear objective, leave out the unnecessary adjectives. You got greedy with "brutal" and "sadistic."
Now, please. Go turn on the television or something - I'm certain there must be SOMETHING on Fox News for you to masturbate upon.
38:
Comments like your only embolden our enemies. Pray tell, why do you hate America? You're always free to get the fuck out of the good ole' U.S.A. whenvever you choose.
46 - Did you raise any factual objections to 41's statements? Oh, you didn't? Why not? You don't have anything else you say? Oh okay.
12 - you're an idiot. A partner at I&M in not only going home sooner than a partner in DPW but he or she is actually making more money at the end of the day.
47, do you have an opinion on what "The One" with a Dem majority is doing or not?
Can you even begin to make a substantive point? America voted for these fools, what are they doing? No more ad hominem, what the FUCK are they doing?
--38
48: I raised no factual objections to 41's statements because I have no interest in engaging in an ACTUAL POLITICAL DEBATE on an anonymous message board. I save my serious discussions for IRL, and come here only to snark on pathetic losers like you.
Before you can bame this president for not completely reversing the worst economic downturn since the Great Depression in four months, you must first accept that the last one is responsible for not stopping the 9/11 attacks eight months in, after receiving a direct warning weeks in advance.
46, the early 2000s recession started in March 2001. Bush was in office for slightly over a month. But I guess liberals must be right, Clinton's 8 years and the collapse of the tech bubble in 2000 had nothing to do with that recession.
And here's an article about why we failed to regulate subprime lending way back in 2003. Democrats cried racism because restricted lending meant fewer low-income minority borrowers. Read it and learn.
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html
52, I don't "bame" anybody.
Moron.
38:
First of all, it's "That One". Get it straight, douchebag.
Second, why are you avoiding my question. Why do you hate America?
47
Gee, that means that AmLaw 200 firms, if they keep up their 2.2% relative increase in PPP, will reach S&C partner pay levels in ........ 88 years!
/ eyeroll
"Second, why are you avoiding my question. Why do you hate America?"
Because of idiots like you. You and your ilk fucked up a great thing. I hate to think that my grandparents in WWII and parents in Vietnam put themselves at risk to have the country go to hell in a handbasket in a matter of months.
Are you going to answer my question? What is The/That One going to do with a Dem majority?
Fucking coward = you.
--38
This thread captures the American sentiment right now.
I am sick and tired of hearing liberals continue to bash Bush. Holy sheet. Its over. Democrats now have control of the executive and legislative branch of the government. Put up or shut up. Fix it or get out.
We are now a socialist country. Hope everyone is happy.
All of your comments lack intelligence and / or humor. Please punch yourselves in the balls and try harder. Also, you all make considerably less money than me. Suck it, and good day.
Louis Zaccareli, Esq
Smell my fingers, I just finger banged my secretary in her ass.
I'm serial.
51 - So you have nothing. Got it. Thanks.
53: I don't need to read your retarded article. The subprime lending mess was the result of 20 YEARS of bipartisan bullshit and neither party, nor the consumer, nor the lender is free from blame.
But way to assume, jackass.
- 46, 51 and NOT a liberal.
It's Tucson, not TUSCON
When did Drudge Report start linking here? Can't you all take it to DailyKos or Conservapedia, just for the sake of the rest of us?
38 - So, if you're attributing a growth of associate salaries due to Bush, then why not also attribute 9/11 to him. If we're going to say historical blame starts and ends during a president's term(s), then that's fair, correct? I mean, Bush was making bailouts before he left office, doesn't that count? There's a stronger argument to be made that Obama is, in many ways, continuing the policies of the Bush Administration, with the most notable exception being that he has banned torture (water-boarding) instead of only calling it something different.
To blame the economy on Obama is retarded. The problems in the US did not start in January, they started last summer, so I don't understand how anyone can blame Obama.
And I don't agree with everything he's doing, but we're in uncharted waters. At this stage, all I can is trust that my President has surrounded himself with the best and brightest and hope that all involved can chart the best course.
"To blame the economy on Obama is retarded. The problems in the US did not start in January, they started last summer"
Uhh, who ran the House then, Pelosi maybe? Reid?
"all I can is trust that my President has surrounded himself with the best and brightest"
Yeah, Geithner is doing great, never would I believe GM would be a division of the government.
We're fucked.
38, if you're going to anonymously call someone a coward on the internet, have the decency to post your own name. otherwise, hell of a job supporting your argument. really top-notch.
-not 47/55
how is this news? i swear this site is going down the tubes...
Let's see if I understand this comment thread:
I was President for eight years;
Clinton left me a budget surplus;
With a Republican Congress, I passed a tax cut for the upper class that turned the surplus into a deficit;
The current recession started December 1997, when I was President;
But it's all Obama fault?
Wow, that's logic that even I can agree with.
65, nobody is blaming Obama for the current economic situation. Read 38 again. People are blaming him for the high likelihood of making the future economy worse with misguided policies and a $1.84 trillion deficit. Name some Obama policies that will actually help the economy recover. And don't respond with "b-but Bush screwed over the economy!"
69, Clinton also left you with collapsed stock market and a recession. The recession started officially started one month into your office. But I'm sure you remember that.
69 - He also left you the ticking time bombs that were Fannie Mae and Freddie Mac. Which, you and your Republican congress tried to address in 2004 much to the anger Bawny Fwank.
70 - You're right, no one has blamed him for the recession, but it there are many comments on this board that are accusing him of making dire mistakes now, screwing up now, if you will, our future.
Honestly, I can't name any programs that have worked yet. I also can't name any programs that haven't worked yet. The best I can do to support current programs is to support both the ownership of GM and the additional funds to AIG. I want to hate those policies so much, but I can't, given the extra circumstances. GM, in addition to being a car manufacturer, is also a huge manufacturer of military equipment and I think, from a nat'l security standpoint, especially in today's world, that can't be allowed to be screwed up (potentially) by a bankrupcy. AIG is one of the world's largest commercial insurers, and if they went under, the next day no planes would fly, fewer trucks would drive goods from state-to-state, and hardly any ships would transports goods or services to/from the US. Trade needs to continue, security is paramount - these things had to happen.
Obama has an approval rating currently at 66%.
Let's not waste time listening to arguments from people that think Dick Cheney and George W. Bush were succesful stewards of our country/economy/security.
Our time is better spent continuing to reach out to moderates and (former) Reagan Republicans. We're looking for converts, they are looking for heretics. Every time someone repeats a Rush Limbaugh talking point, a Democrat gets another vote.
The best thing you can do for an idiot is to let them talk. Don't argue with an idiot, they will drag you down to their level and beat you with experience. If these morons made it this long still in denial that Bush/Cheney was a trainwreck for our economy and security, then nothing anyone writes on this board will convince them otherwise.
This will work out well for the Democrats.
Arlen Specter, Colin Powell, and Jon Huntsman said to say hi.
"In terms of the economy, look, I inherited a recession, I am ending on a recession." --George W. Bush, Washington, D.C., Jan. 12, 2009
12% homeonwners in trouble:
http://www.reuters.com/article/topNews/idUSTRE54R3UP20090528?feedType=RSS&feedName=topNews&rpc=22&sp=true
Tax receipts down 34%.
We're in great shape (sarcasm).
74, I didn't realize this was so hard to understand. The people who are questioning Obama are not saying that Bush is blameless.
It is possible for Bush to have been bad for the economy, AND for Obama to be bad for the economy. Since Obama is the one making decisions right now, the scrutiny is on him. Saying "b-but Bush did sooo much better!" is a non sequitur.
Bush had an approval rating of over 90% once. At one time, people were talking about Democratic disintegration and a permanent Republican majority. I'm sure you remember those times.
Welcome to the New Republican Party - Newt Gingrich, Rush Limbaugh, Sarah Palin, Karl Rowe and a bunch of anonymous posters on a legal blog.
Change I can believe in!
58:
If I come up to you, smash an egg to the ground, and then demand that you fix it immediately, can I then blame you if you can't fix it instantaneously?
Not Entirely Apt Analogy Guy
"If I come up to you, smash an egg to the ground, and then demand that you fix it immediately, can I then blame you if you can't fix it instantaneously?"
No, but that doesn't excuse another egg being smashed into the ground, or in our case, a dozen eggs being smashed into the ground
We are fucked.
It is a sad fact that the idiocy and ignorance of Elie makes ATL look amateurish at best. Please, someone explain to me the relevance of the Tuscon (sic) quip as it regards to Phoenix firms. Not only is Tucson located about 90 miles away from Phoenix geographically, but the two cities are completely distinct both culturally and commercially.
79, no but if your solution is to smash 1.84 trillion more eggs and poop on them, can we question your proposed solution?
41 ftw.
41 ftw.
41 ftw.
41 ftw.
LOOK: California is and has been run by one party since 1970. Its economy is the size of France's economy. California has been BILLIONS IN DEBT for decades because all libs know how to do is tax and spend, tax and spend.
AND NOW, the same party is in control of the White House and Congress.
If you don't think the U.S. is going to look like California soon, you have no understanding of politics or economics. Obama's best hope is that the GOP wins the midterm elections. That way, they can prevent him from spending us off a cliff, and then Obama can take all the credit JUST LIKE BILL CLINTON DID.
74=classic liberal.
Anyone who questions Obama is then branded as a Bush supporter.
What are the wingnuts going to complain about when the recession ends in 6 months? For being so pro-war, you guys sure are a bunch of pussies.
Socialism rules
It is awesome to see the bondholders of GM and Chrysler get totally fucked, 10c on the dollar. All those rich neocons can suck it now. No capitol gains to pay !! Eeek.
It about time that the workers owned the means of production. What better than to have another GM worker kick your ass for loafing than to put up with rules that hurt the company. Shit most lawyers DREAM about owning their own shop.
Guess what 20% of Obama's voters (the ones who pay $$) are glad to see fat stupid heirs be forced to work for a living. Don't like it: suck it. You lost, and didn't declare martial law. Socialized medicine next.
Death tax to 100% after $5 mill.
87: Yes, the Republicans in the 2000s really got that balance sheet in order after Clinton left a massive deficit. Good call there.
But seriously, California is f$#&#d because direct democracy is stupid. See Prop 8.
With respect to the only issue that matters, the economy, Obama is pursuing nothing more than a continuation of Bush's awful policies. People are going to be really surprised when the market crashes even harder this fall.
Roses really smell like poo-poo-poo.
i dont understand this whole CA run by one party thing. we've had a majority of Republican govenors over the last 20 odd years, with republican treasurers, comptrollers etc elected in tow, even when there were dem govenors. certainly one party cant be blamed for the mess we're in, i mean, you do realize this all happened under a republican govenor's watch. car tax isnt lookin so bad now is it....