Legal Research

Selections From National Law Journal December 8, 2008

By David Badertscher, PLL

Source: NLJ.com, December 8, 2008

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NLJ BILLING SURVEY  |  Law firm fees defy gravity
"Despite the rancid economy of 2008, attorney billing rates continued their escalation trend, with nearly 71% of law firms reporting an increase in the amount that they charged clients compared with 2007. Partner billing rates broke record highs this year, with one firm exceeding the $1,200 mark and another rising above $1,100 per hour."

Law firms wrestle with health care costs
"Syracuse, N.Y.-based Hiscock & Barclay has seen the cost of providing health care to nearly 400 employees rise by 20% each of the past five years. It has largely shouldered the mounting costs without asking employees to pick up the difference. Fortunately for the firm, there is relief on the horizon. Managing partner John Langan said the firm's health care costs won't go up in 2009, largely because of several new insurance plans available to employees that offer low premiums, high deductibles and tax-free health savings accounts to help cover medical costs."

IN-HOUSE  |  Scrutiny of mergers may be increased
"Antitrust attorneys expect the U.S. Department of Justice and the Federal Trade Commission to ramp up merger scrutiny in President-elect Barack Obama's administration and boost negotiation and document review work for lawyers."

CRIMINAL LAW  |  People burned in mortgage scam seek victim status
"More than 100 borrowers who were overcharged on mortgage loans as a result of a wire fraud conspiracy have asked a federal appellate court, in a case of first impression, to recognize victims of financial crimes as "crime victims" under the federal Crime Victims' Rights Act, who are entitled to restitution."

LAW FIRMS  |  As firms cut marketing, others see opportunity
"Laid off attorneys, swank holiday parties and blockbuster associate bonuses already are casualties of the sputtering economy. It appears that law firm marketing budgets may be next. Law firms typically maintain their marketing costs year to year, but the dim financial prospects for 2009 mean firms are eyeing more drastic changes as they finalize their annual budgets. Some firms are cutting marketing department budgets as a cost-saving measure, while others plan to maintain or increase marketing budgets in 2009 in an attempt to build business while their competitors pull back."
 

Full post as published by New York Supreme Court Criminal Term Library on December 09, 2008 (boomark / email).