Lawyers Start To Stop The Clock

There are few professions where the adage "time is money" is more apt than the legal business. In the 1980s, law firms prospered mightily by charging hourly billing rates of as much as $450 to their big corporate clients. But now, corporations--battered by the recession and buoyed by a lawyer glut--are wrangling major concessions from their clock-obsessed lawyers.

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