Managing Partner, Bill Tuer, interviewed by National Post on the economic volatility and the impact on Western law firms
National PostNovember 5, 2008
Bill Tuer, managing partner of Macleod Dixon LLP, was interviewed by the National Post to discuss the impact of the recent economic fluctuations on western based law firms. With oil prices dropping and the inactivity of natural gas prices, common assumptions reflect that Alberta law firms are feeling the repercussions.
"It's not as if everything has ground to halt. There are still deals getting done," comments Bill Tuer as he makes reference to energy trusts turning back into corporations. "Merger and acquisition activity is on the upswing, and companies that are well capitalized are out looking for bargains."
As commodity prices fluctuate, uncertainty rises and companies re-evaluate their oil sands investment strategies. "It's not as much the low price as it is the rapidly changing price. It causes them hesitation in making decisions as to expansion... which impacts on the legal work you are doing," says Mr. Tuer. "While all firms want to be prudent these days, we're still reasonably busy and optimistic. It's not a case where our business plan has changed at all."