One of Chicago's top law firms fired or demoted 45 partners this week. Mayer, Brown, Rowe & Maw says business is good. Its 2006 revenues were up 11 percent over the previous year.In other words, "Sure, we're rich. But by screwing some of the people we work with, we could be even richer!"
But Chairman Ty Fahner says the restructuring is needed to improve profits and allow the firm to stay competitive. "The very best regarded and best run law firms have a relatively high profit per partner because that pays for all the expenses of growth, retaining good people, of recruiting others," Fahner says. "And so, this is simply another step to being one of the elite law firms of the world."
Saturday, March 03, 2007
Attorneys You Can Trust...
From your Chicago Public Radio:
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- SCAM: So-Called "Answer Man"
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