Posted Nov 16, 2009 10:33 pm CST
It isn’t just in-house counsel at large corporations who are leaning on private law firms to lower their hourly legal fees.
The city of Chicago has also done so, and now pays its outside counsel a top billable rate of $250 an hour, down from $295, reports the Chicago Tribune.
With the legal industry struggling for solid footing in a difficult economy, “we’ve been capitalizing on that opportunity,” the city’s top lawyer, Mara Georges told aldermen during a budget hearing.
She also notes that the city is trying to cut its legal expenses by having in-house counsel handle as many matters as possible, the newspaper says.