Categories:United States

Bakers snaps at the heels of Skadden in US top 30 rankings

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  • look at the PEP numbers of Bakers...

    look at the PEP numbers of Bakers...

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  • Estimates

    Just remember that many of these numbers are NOTHING more than estimates by legal journalists. None of the leading New York firms, for example, release ANY financial guidance. Don't get too excited by these figures. Find out first whether they're real numbers.

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  • Revenue does not matter

    Why should revenue matter at all? Since profit margins at the law firms are so different and there are (almost) no economies of scale or scope above 500-700 lawyers per firm, PEP and RPL (the latter - only because of uniform compensation of employees in the legal market) are the criteria that matter - not only in absolutely terms, but also including their volatility.

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  • Uh, a little perspective here?

    Bakers finished their year June 30th, meaning that those numbers missed the worst part of 2008, so they're totally not relevant when stacked against the percentage change of other firms.

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  • Firms not is a position to fire people

    The 4 firms with increase in PEP (Bakers, Sidleys, Weil and Greenberg) have no moral right to make any layoffs.

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  • Last post

    Agreed. Although it's spelt 'er'.

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  • Some firms not in a position to fire people

    All the firms with an increase in PEP (Bakers, Sidleys, Weil and Greenberg) have no moral right to fire people.

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  • Dewey

    Wonder where Dewey landed - hope their PPP are just like their partners themselves - incredibly ghasty and stumpy.

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  • The Weil PEP Numbers Are Obviously Wrong

    It says 2.3M this year, 1.24M last year. That's clearly wrong, and that's clearly not 7.5%+. Sloppy.

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  • Top Firms

    The changes are hardly surprising given B&McK's strategy and steadfast approach to international growth - here in New Zealand there's been a consolidation of the 'golden triangle' firms' stanglehold on the top of the field

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  • The Lawyer's obsession with revenue...

    ...is, frankly, baffling. It really isn't the key measure. See Michael S' comment below.

    Also as Bakers' financial year is different, this is even more of a non-article. Still, if The Lawyer's journalists didn't write this meaningless tittle-tattle, I suppose they wouldn't have much else to talk about.

    It's an unhealthy obsession, this drive to report yearly and half-yearly profit figures and draw up the 'top 100', 'top 20', 'sweet 16', etc. etc.

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  • Morons on this thread!!!

    If you LOOK; the comparison table is for the revenue of 2008, regardless of fiscal year reporting... Wake up & use some logic please.... !

    "$10m away from becoming the largest US law firm by REVENUE"

    NOT PEP, PPP, RPL or RSVP!!!

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  • baker

    Well, a major factor you have to consider is that Baker operates in a number of low cost countries. When all those numbers are merged together, that is what lowers the average income because you are merging the income of a person in New York City with a person in Manilla.

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  • snaps at heels

    A creditable performance by Bakers but Skadden need not be too concerned about their ankles just yet . Skadden's financial year to December 2008 covered 6 months of the credit crunch whereas none of Bakers year to June 2008 was impacted. Despite this Skadden still posted PEP of over $2m compared with Bakers $1.2m and a rise in income albeit a modest one . Which firms results would you rather have ?

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