News & Events

News & Events

7.31.2009

Lane Powell President Quoted in Puget Sound Business Journal on Law Firm Lines of Credit

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Lane Powell President Lewis Horowitz was quoted in an article titled “As credit lines tighten, partners cover more expenses,” published in the July 31 issue of the Puget Sound Business Journal. In the article, Horowitz discussed the Firm’s conservative approach to the use of credit, having dipped into it for only a few days out of the past decade. “That doesn’t make us better – just more conservative,” he said. “Now that we’re in a recession, being conservative makes us look smart.” In addition, the Firm maintains reserves to alleviate the pressure to borrow. Horowitz stated, “Some firms empty out the cigar box every month, and if you’re in the habit of doing that, you don’t have any reserves when the inevitable slow month comes.”