gearsEarly financial data suggests a grim 2009. It’s the perfect time for firms to fix their business model — if they have the courage. First the bad news: Profits per equity partner were down 3 percent; this figure would have been a bit worse if the three Am Law 200 firms that failed last year were included. “Bad news?” you ask. “That’s much better than we’d expected. I guess law firms have once again shown they’re bulletproof.”
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