Ed.
note:
Welcome
to
our
daily
feature,
Quote
of
the
Day.
The
highest-profit
firms
are
using
their
wallets
and
their
success
to
then
target
the
better-performing
and
higher-generating
partners
from
that
next
group
of
firms.
Essentially,
in
some
sense,
they’re
buying
the
demand
from
the
ones
who
have
it
but
don’t
have
sufficient
profitability
to
pay
those
people.
So
the
demand
is
getting
aggregated
to
the
people
with
the
deep
pockets.
—
Owen
Burman,
senior
consultant
at
Wells
Fargo’s
Legal
Specialty
Group,
in
comments
given
to
the
American
Lawyer,
on
the
state
of
the
legal
market
generally.
Burman
noted
that
lateral
activity
was
up
“broadly”
this
year,
with
elite
firms
taking
partners
—
and
demand
—
from
the
rest
of
the
top
50
firms.
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to
email
her
with
any
tips,
questions,
comments,
or
critiques.
You
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her
on LinkedIn.