Denver’s economic outlook remains good because the region is home to an array of diverse businesses including telecommunications, oil, energy and technology. One economist predicts that Colorado’s unemployment rate will decline by 0.4 percent in 2009, compared to an 1.1 percent expected job decline nationally.
Eckstein acknowledges the tough economy and offers, ''why hammer our clients when they already have enough trouble? Clients deserve a law firm that understands their problems, and we're in this for the long run.''
The firm has been kept busy working on behalf of The Shane Co., a national jewelry company, who sought help filing Chapter 11. The firm has also been instrumental in assisting ConocoPhillips’ purchase of a 432 acre campus outside of Denver. ConocoPhillips purchased the land from Sun Microsystems Inc. Caroline Fuller, Managing Partner, claims ''that diversification among the law firm's three core practice areas of real estate, litigation and corporate work has given it more stability.''
Fairfield and Woods did experience a drop in corporate work in 2008.Although the firm isn't involved in securities and capital market proceedings; it reported a decline in mergers, capital financing deals and acquisitions. However, despite the slowdown in the corporate division, the firm experienced a significant increase in litigation. According to Fuller, “our litigators are as busy as we've seen them in a long, long time.'' To handle the increase, the firm has recently hired two litigation partners and a third will be brought on board this month.
The firm has remained relatively small by choice and has declined merger offers from other Denver firms and offers to become the city's branch office for national firms.
Eckstein is happy with the firm's decision to maintain their independence because his firm won't have to concern themselves with problems, slow practices and other branches exerting pressure on the firm.
Fuller acknowledges that ''we've consciously decided not to grow exponentially when times are hot, so we don't have to downsize when times are slow.'' Fuller remarks that the firm did not experience a significant slowdown in 2008 however, they didn't experience any substantial growth either. ''Revenue stayed about flat last year compared to 2007. All things considered, flat isn't that bad,'' she said.
