Lawyers in the “fight of their life” to stay afloat financially.
In this sagging financial economy, many law firms have had to re think their current business model to simply stay afloat. The larger the law firm the larger the expenses, many are litigating cases or creating cases for billable hours. Naïve and unsuspecting clients that are finding their simple cases are dragged out 2-3 years have “dwindling bank accounts” and are unfortunately following the advice of their attorney who have an economic advantage on their agenda. As a consequence many attorney’s are now being sued by their clients for giving ill-advice, and pursuing no-win cases.
Let’s face it, we can file a complaint for any silly reason, the courts will never turn the fees away from the Plaintiff who wishes to do this. However, make no mistake about it, the legal industry is a business and not about justice for the Plaintiff(s) who continue to pay while the case only further erodes their reputation and future. Many people do NOT want to continue business relations with individuals or companies that are known to file silly unfounded complaints against people that may have opposing or differences of opinion, especially when the complaint is about a controversial subject.
Many lawyers with a one-man operation have recently partnered up with larger law firms that wish to outsource certain types of law that are niche and obscure like: Internet Law, educational law, etc., or these attorneys have tried to create another opportunity by writing for free for some papers like Huffington Post, or they may host a local radio show or TV show while attempting to only promote themselves. Some of the reputable ones have gone into teaching law ,or legal ethic seminars to local law enforcement. Still others travel to give seminars for spam marketers and other questionable speaking engagements that only demean the legal industry further. But hey, a guy has to earn a buck doesn’t he?
Some of the larger law firms have been forced to dismantle, after a 3 year economic downslide. The only attorney’s that are growing are the bankruptcy attorneys and of course the stable Entertainment Lawyers or Insurance lawyers who work on large consistent retainers. Recently in California a large firm that was over 50 years old was forced to dismantle, most of the staff scrambled to find positions at other large firms—some were brave enough to try private practice or outsourcing with other large firms, while others were able to retire.
Meanwhile that client that is strung along in the hopes that there is some golden payout in the end will end up spending $400.00+ per hour plus expenses. An average 2 year case will cost the Plaintiff(s) over $80,000+ with no hope or guarantee of winning much of anything except a slim hope of some paltry settlement – why would anyone want to spend $80-100K to receive nothing but maybe $3,000 and a bad reputation that will follow them forever? Lets see $80,000+ for $3,000 and a bad reputation…doesn’t sound like a winning proposition to anyone with a good business sense. Law firms know when they can latch on to an empty check book and give empty promises. ….it’s called “keeping my law firm afloat”
One recent comment from a local attorney at a large law firm stated “Thank God for sucker clients with money” ……as P.T. Barnum stated “There is a sucker born every minute”
Kimble, McMichael & Upton “has ceased practicing law” (even taking dumb cases didn’t keep them afloat)
Lastly, thank you to those that read my postings and obsess over every word and everything about me and my world. We are so sorry that you have such an empty life, maybe another brand of Chardonnay without so much sulfates would clear your thoughts. Alas the life of another bored dragon lady with too much time and money on their hands. So very sad.
http://kmulaw.com/
http://fresnofiggarden.kmph.com/news/business/long-established-fresno-law-firm-closing-its-doors/44413
http://www.news-journalonline.com/business/local-business/2011/03/01/law-firms-maneuvered-to-get-through-recession.html
http://www.nytimes.com/2003/01/31/business/west-coast-law-firm-closing-after-dot-com-collapse.html
http://www.slashgear.com/magicjack-lose-defamation-case-charged-50000-2375338/
http://www.expertlaw.com/library/personal_injury/defamation.html
http://blogs.sacbee.com/crime/archives/2011/05/tax-lady-roni-d.html
http://blog.larrybodine.com/2008/11/articles/money/early-warning-signs-of-law-firm-failure/
