11/19/07
Virginia Defense Firm Faces Abuse Suit
A judge has ordered the case against private defense firm CACI International Inc. to go on. The firm, based in Virginia, has been under fire lately. It is said that the firm provided interpreters or interrogators to help U.S. military guards at the Abu Ghraib prison in Iraq. The notorious prison was the location where many pictures of U.S. soldiers grinning with detainees surfaced. Many of the detainees were shown in uncomfortable positions, such as naked, on leashes, or in "sexually humiliating" situations. The firm has denied the allegations, and it has been left up to a jury to decide the consequences.
UK Law Firms Growing
The United Kingdom's largest law firms have shown great growth for the 2006-2007 financial year. Over six months into the financial year, they are on track and performing well. Two Magic Circle firms are claiming that they will make more than $2 billion for the year. Three Magic Circle firms have announced revenues so far for the past six months. They've had increases of 15-20% in comparison with revenues for the same period last year. Clifford Chance has had an increase of 18% (to $1.4 billion), Freshfields Bruckhaus Deringer has also had an 18% increase (to $1.15 billion), and Allen & Overy's revenues have grown by 16% (to $939 million). Two other large London firms, Ashurst and Herbert Smith, also did very well over the course of the year.
Is Law Firm Life for You?
Recently released statistics from the National Association for Law Placement indicate that almost 80% of attorneys at larger law firms are no longer with those firms five years later. Some leave because they do not make partner or are asked to look to other firms, but the loss of attorneys by firms is a major trend in the industry. Large firms need associates that will make them the most money, and not always does partnership equate to profitability. However, as long as new associates incur debt and continue to search for bigger and better positions, the doors will keep swinging in the job market.
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