Reed Smith managed the feat of raising profits on falling revenue by squeezing the traditional pyramid structure: While the equity partnership grew by 4 percent, the firm shrank the ranks of non-equity lawyers by nearly 6 percent, and staff by about 4 percent. 5th Circuit Upholds Texas' Wine Sales Method The Associated Press The 5th Circuit has sided with Texas in a dispute over buying wine and efforts to control its quality, allowing the state to continue… [read post]