Magic circle law firm
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An excellent issuer of legal opinions, and one of the few international enterprises whose business model was wholly unaffected by the global financial crisis. Magic-circle charge-out rates have been steadily rising since 1985, to the point where it is now more expensive to hire a trainee solicitor for an hour than to fly to Monaco for a weekend at the Grand Prix.
The best way of doing that, therefore, is to arrange for a magic circle law firm to invite you to the motor racing as part of its client entertainment programme.
For their part, magic circle law firms are known to despair at the arms-race amongst them for client corporate entertainment, which has got to the point where they have had to jack up trainee charge out rates —
The rate of increase in charge-out rates has been so steady as to draw comparisons with the performance of Fairfield Sentry’s investment in Madoff. No-one tell Harry Markopolos.