Hildebrandt Watch

Law Firm Merger Pace Slows While Interest Remains High

According to Hildebrandt, leading consultants to the legal industry, law firm merger activity declined somewhat during the second quarter of 2009, with a total of nine completed law firm mergers and acquisitions involving US law firms. This compares with 14 completed US mergers in the second quarter of 2008, as well as 14 in the second quarter of 2007. Because the first quarter was a very active period, merger activity for the first six months of 2009, with 42 completed mergers, remains ahead of last year. One merger has been announced and will be completed in the third quarter.

2009 Hildebrandt/Citigroup Annual Report to the Legal Profession

Over the past year, we have watched as the growing economic crisis has spread across the legal market. Although signs of an economic slowdown were evident in the second half of 2007 - as demand in real estate, structured finance, and transactional practices turned sharply downward - the full financial impact of the recession was not felt by most firms until 2008 and, even then, the impact was not uniform across the market.

Hildebrandt Peer Monitor Economic Index Flattens in First Quarter

The legal market continues to experience weak demand and rate growth, with some potential signs of a market bottoming. The Hildebrandt Peer Monitor Economic Index (PMI) fell one point in the first quarter to a reading of 40, virtually flat compared with the fourth quarter of 2008. A PMI of 60 or greater indicates strong law firm market performance.

PMI is a composite index of law firm market performance using real-time data drawn from major law firms in the United States and key international markets. As the economy slows, PMI has been trending lower, dropping in five of the last six quarters.

	A House Divided Sometimes a firm is less than the sum of its parts. In a struggling economy, business misalignment can be fatal.
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The Challenge of Strategy Implementation: Tools for Turning Your Firm’s Strategic Plan into Action

Does your firm have a strategic plan? Do you know where that strategic plan is currently located? Is it tucked away in a dusty folder, hidden among a pile of abandoned firm initiatives? Or is your plan integrated into the fabric of your firm - indoctrinated into your firm’s practices, people, and culture?

	The Anatomy of Law Firm Failures The recent failures of Heller Ehrman and Thelen serve as potent reminders that law firms are fragile enterprises that can get caught in downward spirals if not carefully managed and constantly renewed.
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2009 Hildebrandt Law Department Survey

We are pleased to announce the launch of the Hildebrandt 2009 Law Department Survey! We have made significant enhancements to our questionnaire to capture key emerging practices in today's economic climate.

Now more than ever, law department and compensation leaders need reliable benchmarking data to help make tough management decisions. We hope you will join over 200 companies who consistently rely on the Hildebrandt Law Department Survey as a key management tool.

For more information, click here >>

Hildebrandt Watch

Law Firm Merger Pace Slows While Interest Remains High

2009 Hildebrandt/Citigroup Annual Report to the Legal Profession

Hildebrandt Peer Monitor Economic Index Flattens in First Quarter

A House Divided

The Challenge of Strategy Implementation: Tools for Turning Your Firm’s Strategic Plan into Action

The Anatomy of Law Firm Failures

2009 Hildebrandt Law Department Survey

Hildebrandt Institute

Hildebrandt Headlines