Compared to The Am Law 100, the financial gains posted by Second Hundred firms in 2010 were anemic. While the nation’s 100 highest-grossing firms rebounded from a disastrous 2009 by posting healthy gains in 2010–a 4 percent increase in gross revenue, a 4.4 percent rise in revenue per lawyer, and an 8.4 percent pop in profits per partner–gains at the Second Hundred were less robust. The Second Hundred’s total gross revenue rose 2.2 percent, to $17.46 billion in 2010 from $17.08 billion in 2009, while average revenue per lawyer increased just 1.5 percent, to $579,749 from $570,999. Average profits per partner rose 3.4 percent, to $665,665 from $643,580. So why aren’t they worried?
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In Memoriam: Richard "Dick" K. DeScherer (1944-2024) We mourn the loss of our friend and former partner and Co-Chairman, Richard "Dick" K. DeScherer. Dick was a member of Willkie Farr & Gallagher LLP for more than 24 years. He was the consummate business lawyer, wonderful colleague and true friend. He joined the Bloomberg organization in 2012, a client for whom he had served as their principal legal advisor since their inception, and later was appointed as a member of their board. Dick's knowledge and experience were unparalleled, as evidenced by appointment to leadership and board positions at numerous well-respected organizations. He was deeply involved in civic and community engagements through his work with the S.L.E. (Lupus) Foundation, Lupus Research Institute, United Hospital Fund of New York, Lincoln Center for the Performing Arts, National Dance institute, and Baryshnikov Dance Foundation, among others. He received an LL.M. in Taxation from New York University in 1970, a J.D. from Georgetown University Law Center in 1969, and a B.A. from the University of Virginia in 1966. He was a member of the American Bar Association, the New York State Bar Association and the Association of the Bar of the City of New York. We offer our sincerest condolences to his family, including his wife Jennie, son Christopher and wife Amanda, daughter Kate, and grandchildren Emmett, Serena, George, Emily and Madeline. We will remember Dick with the utmost respect, admiration and affection. His loss will be felt by his many friends and colleagues at Willkie, and by all those whose lives he touched.
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