Latham 2008 revenues projected to slump

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  • Something doesn't compute

    There is something very wrong about this article. Given the fixed nature of law firm expenses (rent + associate salaries + staff salaries), a given percentage decrease in revenue ALWAYS leads to a BIGGER decline in PEP. This article suggests that Latham revenues are down 20% while PEP is down 14%. I assure you, if revenues are down 20%, then PEP is down WAY more than 20%. The only way this would not be true, is if the equity partner population decreased substantially.

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