In yesterday’s New York Times DealBook column was an exposé of sorts on a lawsuit filed against DLA Piper by disgruntled client Adam Victor, CEO of TransGas Development Systems, for legal bill inflation after the law firm sued Victor for nonpayment.
The particularly damning bits were extracts from emails of DLA Piper associates, including these gems:
“I hear we are already 200k over our estimate — that’s Team DLA Piper!”
“Now Vince has random people working full time on random research projects in standard ‘churn that bill, baby!’ mode. That bill shall know no limits.”
The arrogance dripping from these emails is enough to make even the most jaded lawyer cringe in embarrassment.
Even more cringeworthy are the number of comments this post has already generated in 24 hours: more than 400! And 99% of those are lawyer-bashing commentary.
A few months ago I interviewed Lee Rosen, one of America’s top divorce attorneys and practice management specialists, who transformed his practice from relying on hourly billing to charging flat fee prices.
In our interview, Lee explained in detail how he set out to fix his cash flow several years ago and in doing so he fundamentally changed his practice – for the better!
As a direct result of his “radical” decision to switch to flat fee billing (which many of his colleagues told him couldn’t be done), his revenues have never been higher, his profit margins are larger, and he’s building a lifestyle law firm!
If you’d like to watch and learn from my interview with Lee Rosen, click on this link: How to Make Flat Fee Billing Work for Your Law Firm.