K&L Gates chairman Peter Kalis is responding to negative press coverage about lawyer departures in the Chicago office with a firm-wide memo touting the firm’s financial stability and its refusal to engage in a “Deweyesque charade.”Above the Law obtained a copy of the memo, and the blog is impressed. Its story describes the memo as a “tour de force” and admires Kalis’ use of “punchy, short sentences,” his “delicious turn of phrase” and his data-driven defense.K&L Gates spokesperson Michael Rick confirmed that Kalis wrote the memo and sent a copy to the ABA Journal.Kalis contrasts K&L Gates’ good financial outlook with the findings of a law firm survey by Wells Fargo, and concludes that his firm is outperforming the market.Wells Fargo believes profits will be down in 2012, Kalis says, but K&L Gates is expecting an increase in revenues and profits per equity partner. Wells Fargo says bank lines of credit increased by 14 percent in the first six months of the year, but that’s not a problem for K&L Gates.“At K&L Gates,” Kalis says, “we have never used a single dollar of bank line of credit and indeed have never had any bank or other third-party debt. Never. No… Read full this story
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