Pa. Firm Leaders Tout Confidence as Year-End Collections Crunch Looms
The Legal Intelligencer
Leaders of midsize firms in Pennsylvania were upbeat when asked about their expectations for 2018 as the year wraps up, with little anxiety around the prospect of year-end collections.
These midsize firms agreed that demand has been healthy, in line with industrywide trends, but they pointed to a range of reasons. A few firm leaders pointed to particularly strong niche or specialty practice areas that drove revenue, while others noted growth by way of head count expansion.
Donald Bluedorn, managing shareholder of Pittsburgh-based Babst Calland, said it has been a strong year so far for the firm’s primary sectors. As for collecting on that work, he said, “We haven’t seen any slippage in accounts receivable.”
“People value the work we’re doing, they’re willing to pay for the work, and they’re paying us on time,” Bluedorn said.
Energy is a major practice at Babst Calland, and demand has grown recently in that area, Bluedorn said, particularly in mineral title services. He noted that the energy sector on the whole has been “robust,” particularly after a weaker 2016.
The firm also did some significant hiring in its emerging technologies practice in 2018, including a lawyer focused on unmanned vehicles and related legal issues. That’s an area where demand is growing as well, Bluedorn said. “We’ve seen an uptick in [private equity] projects, particularly as it relates to emerging technologies,” he noted.
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