Lawyer greed or law firm competitiveness?

This week, we’ve seen much discussion about the Mayer Brown "layoffs" of 10% of their partners. I have always maintained that law firms mirror their clients.  Was Mayer Brown doing any different?

Recently, a conference concluded that discussed the presumably conflicting concepts of "investor protection" and "corporate competitiveness."  The ideas expressed, according to one report, suggested that the Sarbanes Oxley Act needs to be weakened because Corporate America is having a hard time competing under the new rules. Yet, Corporate America is more profitable than ever before.

How much do we need? Exactly the question asked by those complaining about the Mayer Brown actions.  Warren Buffett asked the same question, according to this report, when he observed that the difference between CEO compensation today as compared with the average worker exceeds 350!  Only twenty years ago, that number was 24!


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