Legal News

Littler Leaves Left Coast Firms in the Dust

By Dan Slater

Today the Recorder puts out its 2008 numbers for seven of the big West Coast firms. The results, of course, aren’t wonderful, with a “tanking economy and crippled credit market” posing “a double blow.”

Most of the firms, reports the Recorder, reported a drop in PPP — or profits per equity partner — with Orrick posting the biggest decline, at 21 percent. The lone exception was Littler Mendelson, which grew head count 20 percent in 2008 and saw a slight rise, 3 percent, in PPP, to $435,000. Revenue rose 15 percent to $354 million.

Here’s the breakdown:

Morrison & Foerster:

Revenue: + 2 percent to $911 million.

PPP: - 13 percent to $1.1 million.

Orrick:

Revenue: + 8 percent to $835 million (half the percentage it grew the previous year).

PPP: - 21 percent to $1.315 million.

Revenue per lawyer: $855,000 (flat from last year).

Cooley Godward Kronish:

Revenue: + 14 percent to $552 million.

PPP: - 7 percent to $1.32 million.

Sedgwick, Detert, Moran & Arnold:

Revenue: + 5 percent to 197.5 million.

PPP: - 3 percent to $700,000.

Fenwick & West

Revenue: + 7 percent to $196 million.

PPP: - 2 percent to $995,000.

Revenue per lawyer: - 2 percent to $795,000.

Townsend and Townsend and Crew

Revenue: + 13 percent to $164.5 million.

PPP: - 4 percent to $705,000.

Revenue per lawyer: - 2 percent to $755,000.

Full post as published by Law Blog - WSJ.com on January 12, 2009 (boomark / email).