Home -> Law Blog Directory -> Legal News Blogs -> Legal Blog Watch

Legal News

: Legal Blog Watch

News Flash: Billing Rates Both Absurd and Obscene

By Eric Lipman

Welcome back from your Labor Day holiday. One can debate whether what lawyers do can actually be considered "labor," but I'm gonna consider this a calendar-appropriate post regardless. This morning on Am Law Daily, we get a sneak peek at an exhaustive review of three years worth of attorney timesheets. Some company called CT TyMetrix has compiled the 2010 Real Rate Report, and it is a doozy. What's in the report? You could watch the video on the CT TyMetrix website to find out. But when I tried, I was lulled to sleep by the soothing voice of Dan Currell, managing director of the company's Legal and Compliance Practice. So maybe you should just read below: The Real Rate Report is based on empirical data gathered from $4.1 billion in invoicing generated by over 3,500 law firm and 90,000 individual billers over three years (2007-2009). This comprehensive data encompasses 51 metropolitan areas, companies ranging in size from one to 1,940 and from over twelve industries including energy, entertainment, finance, insurance, healthcare, manufacturing, pharmaceutical, retail and technology. The "empirical data" was collected from 36 big corporations who pay boatloads of money to outside law firms. And while you will have to...

Full post as published by Legal Blog Watch on September 07, 2010 (boomark / email).