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Home | BakerHostetler

Kenneth Reisenfeld Moderates Panel During Washington Arbitration Week

Taylor Bloom Presents Ad Tech Privacy Year in Review for California Lawyers Association

ADventures in Law

Getting the Most out of Brand Partnerships with Artists . . . Lawfully

Health Law Update

What a Second Trump Administration Could Mean for Tobacco Industry Regulations

A recent Citi Global Wealth at Work Law Firm Group survey of major law firms found that collection cycles are lengthening this year, according to a June 23, 2023, article in&nbsp;<em>The American Lawyer</em>&nbsp;titled “Big Law Collections Slow Down as Clients Hold Onto Cash Longer.”

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In an interview for the article, Chairman Paul Schmidt said he has noticed clients starting to “quietly pay us a little bit more slowly,” likely out of concerns about the economy, but BakerHostetler hasn’t experienced a big financial impact, he noted.

Schmidt was also quoted in “GCs Keep Cutting Outside Counsel Panels, as Law Firms See Heightened Competition,” an article published July 3, 2023, in&nbsp;<em>The American Lawyer.</em>

“There certainly is a trend among consumers of our services to try and manage their outside spend and the firms they work with, by creating a finite number of firms – always with the opportunity to make exceptions where they need to,” he told the publication.

<a href="https://www.law.com/americanlawyer/2023/06/23/big-law-collections-slow-down-as-clients-hold-onto-cash-longer/?kw=Big%20Law%20Collections%20Slow%20Down%20as%20Clients%20Hold%20Onto%20Cash%20Longer&amp;utm_source=email&amp;utm_medium=enl&amp;utm_campaign=morningupdate&amp;utm_content=20230623&amp;utm_term=tal&amp;oly_enc_id=2804I9425078B6Wn" target="_blank" rel="noreferrer noopener">Read the June 23 article.</a>

<a href="https://www.law.com/americanlawyer/2023/07/03/gcs-keep-cutting-outside-counsel-panels-as-law-firms-see-heightened-competition/" target="_blank" rel="noreferrer noopener">Read the July 3 article.</a>

Paul Schmidt Discusses Current Client Approaches to Conserving Financial Resources

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