Media Coverage

Seeing Opportunities in a Tough Economy

Alan Hoffman, co-chairman of Blank Rome, was recently interviewed by the Philadelphia Inquirer on a range of topics involving the law firm during the economy's downturn. 

In spite of recent economic developments, Blank Rome remains optimistic and views the current situation as an opportunity and not a disadvantage. 

While cutting some expenses, Blank Rome does not project major cutbacks in the 2009 class of summer associates.  Mr. Hoffman believes that this is a necessary investment in the Firm, and views the summer associate program—whose participants usually translate into the following year’s full-time fall associates—as an “important area for future stars in the law firm.”

Blank Rome’s opportunities may come by way of the federal bailout and upcoming changes in Washington.  Clients will seek Blank Rome’s advice when it comes to upcoming healthcare reform and changes in environmental laws, according to Mr. Hoffman.  The firm’s lobbying and government relations counterpart in WashingtonDC, along with Blank Rome’s strong litigation practice will cushion it from the downturn, he added.

Mr. Hoffman attributed the success of many Philadelphia law firms to their practice diversity and contrasted them to New York firms that are very heavily weighted towards corporate practice during a time when M&A activity is scarce.

“The Silver Lining for Legal Firms” by Chris Mondics appeared in the Philadelphia Inquirer on November 3, 2008.