Network Firm News

Sunday, April 20, 2003

ACCA CLO Survey Results Published by Altman Weil and ACCA
The American Corporate Counsel Association (ACCA) and Altman Weil, Inc. surveyed the Chief Legal Officers (CLOs) in attendance at ACCA's 2002 Annual Meeting to capture their thinking on a number of issues and concerns for the third year in a row. This year's results reveal again that over 50% of the CLOs surveyed reported they have fired or are considering firing at least one of their outside law firms in 2002, citing 'lack of responsiveness' as the primary reason.

Notable Results:
-- Minimizing risk is top way in which CLO's best add value to their company
-- Top reason to consider firing a law firm: failure to control expenses and disbursements
-- Most CLOs are new to the job (57% less than 5 years; 23% 5 to 10 years)

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