Profits Plunge 9.6 Percent at NY Leader
This article indicates that Shearman's results were more dependant on its business mix than on it global presence. This tends to demonstrate that global firms do not enjoy an advantage from their being global when the economic conditions are themselves global. Rather, it is the practice mix that is more important in determining results. The prior post concerning Cravath's results is more support for this conclusion.
Friday, February 20, 2009
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