Hoge Fenton Celebrates 70th Anniversary – Overcoming Adversity
By | 08.8.2022 | Firm Announcements
As we prepare for Fall, the shadow of a recession looms large in the minds of many. It is a strange backdrop as Hoge Fenton celebrates its 70th anniversary. The firm is known for its resilience, but the Great Recession was one of the toughest challenges in the firm’s history. Steve Siner, Shareholder, was Managing Partner of the firm from 2009-2012, shared his thoughts on how Hoge Fenton was able to overcome unprecedented adversity while many other firms fell by the wayside.
What did Hoge Fenton do to respond to the Great Recession?
Steve Siner: The firm renegotiated prices with its vendors and scrutinized new clients more closely. This reduced expenses and maximized cash flow.
Apart from the financials, how was the firm able to pull together and pull through?
Steve Siner: Hoge Fenton has a strong culture based on the enduring values of excellence in the legal profession, uncompromising ethics, and dedication to our clients. Despite difficult times, the firm refused to compromise these values. Many law firms “cross-trained” lawyers into other practice areas to maximize productivity. We did not. Our clients expected our attorneys to excel in their practice areas, and so we fulfilled those expectations and continued to get strong results for our clients.
It is said that adversity reveals character. What did the Great Recession reveal about Hoge Fenton’s character?
Steve Siner: It is a testament to the firm that, during those challenging times, we did not compromise our ethics in terms of how we practice law, the types of clients we serve, and our commitment to our communities and the legal profession. What became clear is that Hoge Fenton is a law firm that operates based on strong values, with a close-knit culture. We banded together during adversity. We didn’t turn on each other nor did we have any defections. Everyone had everyone else’s back which is difficult when times are tough. Our bonds to each other, our values, and our culture carried the firm through, where many other firms came up short, and ensured that we had strong momentum when the recovery began.
|Steven D. Siner is a member of the Corporate, Real Estate, and Estates and Trusts groups and has served as Hoge Fenton’s Managing Shareholder. For over 35 years, he has represented companies and individuals in myriad business, real estate, and wealth management matters. His typical clients are high net worth individuals, business owners looking to start, grow, sell, or merge their companies, and owners of commercial properties.