The link is an interesting article to recent changes in the law profession occurring in NYC. Seems like the profession isn't the lucrative business it used to be and the effects of the recession are giving law firms a chance to do an introspective criticism of themselves and the true value they bring.
People, when you make your money billing clients and potential clients as much as $900 USD/hr then you know that better ways will be found to solve ones problems. The go-go days of the 1990s and our young century have hit the pin-stripped crowd with a thud, with paralegals, lawyers and yes, even partners taking it on the chin.
Was there any realisation that this madness go only go on for so long, with kids fresh out of law school starting at $160K USD/yr? Were we that gullible that these times would forever last??
The one thing about this current recession is that no one is immune from it. In the past people would explain away why lower rungs of society would be caught in the recession vice. I used to hear what was said, about people not working hard enough or Unions being unrealistic about their wages. Well, what about these people!? The outrageous charges and fees law firms were offering usurped what any stiff on the production line was making.
Now, the chickens have come home to roost and Wall Street is all of a sudden beginning to look more like Main Street USA. People at the top see that they're no more special or different than no one else and they to are vulnerable to change.
Today, I had to take care of some legal business. I faxed my papers off to a lawyer representing me at pre-paid legal. I pay them $26USD/mo. for basic legal service and have been more than satisfied with their service. Take heed Wall Street law firms because your painful change has just begun!!
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Hampton Park
Charleston SC
1964
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