Wally World

Mark this down as the first major client to stand up to the accelerating trend of ever-increasing law firm salary hikes. In this memo circulated last Thursday by Miguel R. Rivera, Sr., Associate General Counsel for Outside Counsel Management, Wal-Mart unequivocably stated that it was instituting a “moratorium on across-the-board rate increases.”

In the end, I think that mega-clients will have to gut it up and pay a little more for the superior legal services they need, but the escalation in associate salaries may be forced to cease for a few years as well.

Thx to the WSJ Law Blog, AboveTheLaw, Wal-Mart, and an anonymous Dallas lawyer