Take a look at Jonathan Glater's article in this morning's NYT (here), which describes the changing world of law firm economics.
A side note: I was a Morrison & Foerster associate when Carl Leonard (mentioned in the article) was the managing partner. I still have a "Carl Leonard Work Hard Play Hard" button from one of the MoFo retreats, and I remember Carl with fondness.
The times, they are truly a' changin'. But for a very well-reasoned counterpoint by my buddy Jeff Lipshaw, see here.
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