Are Blue-Chip New York Firms Losing Their Balance?
What has the world come to when Cravath, Swaine & Moore has a terrible year? As the latest Am Law 100 report shows, the firm that has served for decades as the touchstone for prestige in the profession last year suffered a 13 percent drop in revenue and a 24 percent plunge in profits per partner. The firm has also asked incoming first-year associates to delay their start dates. All this leaves some observers wondering: As Cravath goes, so go New York's top firms?
