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June 25, 2007

THE EYES OF TEXAS (CORRECTED ATTACHMENT)

In preparing the posting to be published later today, I discovered a glitch in the “Posting Attachment” entitled “Legal Industry West South Central Division Metrics 2006” in the “simple and rudimentary but still effective” relative comparison of financial operating performances derived from calculating the sum of the firms’ individual rankings in all of the metric categories.  The calculation simply was not picking up the ranking for either Gross Revenues or Profits – my bad.  I’ve now replaced it with a corrected attachment entitled “Legal Industry West South Central Division Metrics 2006 (Corrected).”  With the corrections, V&E’s rankings in all metric categories added up to 25, which rated it 1st, and Baker Botts’ individual rankings added up to 26, which rated it 2nd.  The next closest firm was Fulbright & Jaworski, whose score was 38.  Thompson & Knight, which previously had been 3rd, now is ranked 4th after the corrections with a score of 46.  None of the rankings that resulted from the sum of only the key metric categories of margin, asset turnover, ROA, leverage, and ROE were affected.  Please accept my apology for the goof!

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