Wake Up Call: Are Billing Rates Too High and Collection Rates Too Low?

• Recent news articles have cited astronomical law firm billing rates, but a new report by Georgetown University Law Center and Thomson Reuters Peer Monitor tells the rest of the story: that actual collection rates have fallen and a reduction in bankruptcies looks to drive collections even lower. (American Lawyer)

• An Obama appointment to replace Antonin Scalia on the U.S. Supreme Court could, if confirmed, establish a new 5-4 majority willing to reverse decisions addressing major issues such as gun control, campaign finance reform, and consumer protections, and possibly even consider outlawing the death penalty, observers say. (Big Law Business/Bloomberg News)

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