Every silver lining...

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  • Or just get Duncan Weston in to outsource your entire support function. First, he'll ask you why you're not taking a cut in salary to save jobs. When you sign up, it'll soon become apparent that he's been negotiating to outsource you for 18 months. Then, when billing goes well, he try to smooth things over by offering you drinks to say thanks as if nothing's happened. Nice.

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  • Duncan has de-equitised the partnership and dehumanised Cameron McKenna.

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  • The magic circle partner saying it's not about revenues is not a reflection of the market as a whole - this is not one-size-fits-all. Small falls in revenues year on year soon equate to a shrinking business and a tacit admission that a firm grew too big too fast in the preceding years. Stabilising revenues is just as important, perhaps more so, than profitability (particularly on the rather silly PEP measure). Also, opportunities will come for some in Western markets as some firms fail or waste away.

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  • I'm not sure where the idea that an increase in revenues "ain't happening any time soon" comes from. Many mid-market firms are now reaping the benefit of a realignment of their businesses in the downturn and from their investment in counter cyclical business areas. LG has a market leading mid-market corporate recovery and restructuring group, for example, and a very strong finance litigation practice both of which have contributed very strongly to the top line growth in the past couple of years.
    And the idea that mid market firms are massaging PEP figures to make themselves more attractive to US merger partners is just patronising and absurd.

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