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&lt;p&gt;The annual AmLaw 100 rankings were released today, and even though David Lat said, &amp;ldquo;This is an exciting day&amp;rdquo; the internets, for the most part, said &amp;ldquo;meh.&amp;rdquo; To be sure, the news is bad, but it&amp;rsquo;s also not really &lt;i&gt;that &lt;/i&gt;bad. Three of the four key metrics&amp;mdash;gross revenue, head count and revenue per lawyer&amp;mdash;fell, while profits per equity partner (PPP) barely increased by 0.3 percent, or $3,463, to $1.26 million. &lt;/p&gt;&lt;p&gt;Aric Press posits two main reasons for the slight uptick in PPP:&lt;/p&gt;&lt;p&gt;&lt;i&gt;Firms aggressively reduced expenses in 2009. And, the number of equity partners in The Am Law 100 dropped. There were 139 fewer of them, down 0.73 percent, to a total of 18,808. By contrast, the number of nonequity partners increased by 640; collectively they now constitute a record 37.9 percent of all Am Law 100 partners.&lt;/i&gt;&lt;/p&gt;&lt;p&gt;In other words, fewer people to share pie with = more pie.&lt;/p&gt;&lt;p&gt;Press also sees evidence of two broader, underlying developments:&lt;/p&gt;&lt;p&gt;&lt;strong&gt;1.&amp;nbsp;&amp;nbsp; &amp;ldquo;The segmentation of The Am Law 100 continues.&amp;rdquo;&lt;/strong&gt; The firms with the highest PPP experienced the highest increase to PPP.&amp;nbsp; The front of the pack are leaving the pack farther behind.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;2.&amp;nbsp;&amp;nbsp; &amp;ldquo;Is there life in the old business model?&amp;rdquo;&lt;/strong&gt; Maybe so&amp;hellip;if one discounts the dizzy heights of the irrationally exuberant years of 2007 and 2008, the AmLaw 100 has experienced a steady upward progression over the last 3 years: 11 percent bigger, 3 percent up on RPL, and up 5 percent up on PPP.&lt;strong&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;i&gt;Bonus Fun BigLaw Fact!&lt;/i&gt;&lt;/p&gt;&lt;p&gt;Baker &amp;amp; McKenzie edged Skadden by a mere $10 million for the No. 1 position for gross revenue. They are the only two firms that grossed more than $2 billion. And yet&amp;hellip;Baker &amp;amp; McKenzie has roughly twice the number of total lawyers as Skadden.&lt;/p&gt;&lt;p align=&quot;right&quot;&gt;-posted by brian&lt;/p&gt;

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