Steve Poor Quoted in The New York Times
"Billable Hours Giving Ground at Law Firms"

J. Stephen Poor was quoted in the article, "Billable Hours Giving Ground at Law Firms,” which appeared in the January 30, 2009 issue of The New York Times. The article discussed the shift away from billable hours as many law firms are beginning to explore different pay arrangements. The article noted that the system of billing by the hour has been firmly in place since the 1960s; keeping track of time spent provided a rationale for the amount charged, but due to client interest and the economic downturn, this system is changing at some firms. The article also mentioned that the recent collapse of some large law firms highlights the risk associated with experimenting with other payment arrangements, for example, if lawyers set too low a price, they lose money. Steve offered his insight into the process of alternative billing and the state of industry: “I don’t think law firms have completely come to grips with that issue. But they need to start coming to grips with it very quickly.”