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Alan Becker Knows Math.

Or does he:

?It?s simple math: If X dollars come in, you can?t pay more than X dollars out,? Becker said. ?If you want to be conservative and cut costs, there?s not a whole lot of places you can do it ? where 70 percent of your expenses is people ? except people.?

A managing partner speaking on condition of anonymity said Becker?s math does not add up.

?In order to cut all lawyers compensation by 12 percent the problem must be bigger than a 4 percent reduction in revenue,? the managing partner said. ?I believe he?s either off more now or afraid he?ll be off more later.?

The managing partner also said that it is highly unusual to cut pay to associates when the firm?s profitability is suffering.

Is there a problem right now being a law firm that primarily relies for its revenue on condos, condo boards, and developers?

Full post as published by South Florida Lawyers on May 20, 2008 (boomark / email).