Jeffrey E. Stone was quoted in the January 6 issue of the Am Law Daily in an article regarding the difficulties facing highly leveraged firms. Several such firms have announced cutbacks, layoffs or have dissolved because clients are cutting costs by assigning contract lawyers or outsourcing routine work overseas. One solution to leverage is cutting salaries for those doing routine work, an idea McDermott implemented when it created its staff attorney program. Staff attorneys are paid much less than associates on the path to partnership. Mr. Stone noted that the Firm's clients receive better value from staff attorneys, rather than contract lawyers, because there is less turnover and the Firm can control quality. "I think there's some sizzle to this idea," he said.