Lee Pacchia of Bloomberg Law recently interviewed me about some of the implications of “Growth is Dead.”
Here it is:
It’s 12 or 13 minutes but if you don’t have time for that we’ll be trying to cut it into bite-size snippets in the future.
“Suicide Pricing” on Bloomberg Law
by Bruce | October 12, 2012 | Articles, Compensation, Finance, Strategy | 6 comments
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Very interesting interview and series
Well done, Bruce.
Thanks to both Andrew and Bill!
Bruce, fantastic appearance. And devastating.
Superb interview Bruce.
Question – why isn’t there more consolidation across the industry? Aren’t there just too many law firms?
Why is there the Big 4 in accounting, but a big 20-50 in law? That is an awful lot of partners’ time spent chasing deals off of each other, that could be productively billed. To say nothing of the pricing competition.
I expect there will have to be consolidation. If growth is dead, there will have to be given the expectations that PEP should only move in one direction.
Reader, the reason is conflicts. There are too many big clients suing each others’ subsidiaries all over the world and facing each other in all kinds of multiparty deals.