Are Hourly Rates Doomed?

Ron Martin, one of Holland & Hart's partners, has claimed for years that the billable hour method is not only inefficient, but even unethical.  Peter Jenkins, founder of the Law Partnering Institute, has advocated "Partnering" and value-added services as well.  The Chicago Tribune highlights McGuire Woods as a leader in alternative fee arrangements?  Read the article here.  Are clients ready for a new pricing model?  Jenkins thinks so, and has started a consortium of clients to negotiate partnering arrangements with a select group of like-minded law firms.