For attorney’s who own or work in a medium-sized, small or solo practice, it would only be natural to look at BigLaw and wonder what the revenue and profit profile looked like there!
Not that smaller-firm lawyers necessarily want the working lifestyle facing a partner or associate at one of these “White Shoe’ firms, but curiosity about financial performance is only natural.
I would venture to say that this curiosity would be akin to the owner of a small title insurance firm wondering about the financial performance of a New York City title behemoth involved in large commercial real estate projects that may run in the hundreds of millions, or even billions, of dollars.
But I digress.
For the lawyers at Cadwalader, Wickersham & Taft 2014 was a ‘busy year’, although the firm faced some of the same issues many businesses face which is a “normal lag in collecting”!
‘On the heels of the abrupt departure of soon-to-be-chair James Woolery, Cadwalader, Wickersham & Taft reported a 15.3 percent decline in profits per partner in 2014, slipping to $2.21 million. Gross revenue remained flat at $481.5 million, while revenue per lawyer decreased by 3.2 percent, to $1.07 million.’ (American Lawyer)
Michael Haltman, President of Hallmark Abstract Service, New York.
HAS is a provider of title insurance in New York State for residential and commercial real estate transactions.
And, for anyone either buying a property or refinancing, remember that although your attorney will likely recommend a title insurance provider you always have the right to choose your own title company (click here to learn more)!
If you have any questions you can reach Michael by email at email@example.com.Google+