The Press Herald reports on how the legal industry in Maine is doing in the recession. I am not sure speaking with a handful of attorneys really demonstrates the point, but certainly some firms are doing fine. Though like any industry if you are diversified, you can hopefully find part of your business that thrives while the others wither.
And if your wondering, my rates are not in the quoted range, but that is why I can call my rates ‘affordable.’
Lawyers and others in the legal community say Maine law firms have escaped major layoffs and belt-tightening so far. They said the firms are small enough and diversified enough to switch gears so they don’t have to lay off entire divisions devoted to a recession-sensitive practice area, such as mergers and acquisitions or investment banking.
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Some say local firms even stand to gain business because of the recession. Maine lawyers charge about half the hourly rates of the big law firms in New York and Washington. Shapiro said the going rate in Maine varies from $150 an hour to $400 an hour, a bargain compared with the $800-and-up rates in big cities.
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