Foley & Lardner is not following the model of increased profit on a decline in revenue. In THE AMERICAN LAWYER, Michael Goldhaber reports Foley & Lardner's PPP was down 7.9% and gross revenue 8.8%.
No surprise, its bankruptcy practice was doing well. At some firms, lawyers in that practice are billing at an average hourly rate of $500 and up to almost $1000, as with the Tribune Company bankruptcy.
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