Josh Block and Casey Sullivan, the co-hosts of “Big Law Business,” a podcast about the business of law, interviewed former American Lawyer editor in chief Aric Press about how the publication reported financial data of law firms and the business of covering the legal profession.
“Over the years, at many firms, it became easier when it became clear…that The American Lawyer was going to continue and was going to publish numbers whether they cooperated or not,” said Press, “quite a few firms decided it was wiser to get their story out directly rather than having to [have reporters] spend time calling up spouses involved in unfriendly divorces who would then leak material.”
Press, who left American Lawyer in 2014, also wasn’t enthusiastic about paid news websites about the business of law.
“No one, I don’t think, is going to pay 1,000 bucks a year for an all-purpose pass to Law.com to learn five minutes earlier or five minutes later that 15 bond lawyers have left Sidley Austin for Norton Rose, or vice versa,” he said. “It’s not worth the money.”
When asked about Citibank and The American Lawyer reporting different financials for some law firms, Press replied, “Who would ever lie to a banker!? [laughs] Who!? Who in the history of American capitalism would ever lie to a banker? Those numbers were not audited. The Citibank numbers were not audited.”
Here is a link to the podcast.
