Bleakness Of Picture Depends On Where You're Looking At It From

“It was only when I suggested that a mere fraction of the world’s Big Law firms would survive another decade or two that I grasped the bone-fatiguing chore of running such a business. Theiss wouldn’t endorse the premise, but he didn’t exactly refute it, either. Demand had stopped growing, he told me. There was “substantial overcapacity.” Billable hours were way down industry-wide. “I don’t think anybody who follows the profession would suggest that this is only a temporary situation,” he said. The longer Theiss spoke, the bleaker the picture became.”