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I just want to focus purely on this aspect.

On the public affairs side, pricing is an issue. However, on the GR side, it's not really an issue. The pricing in the GR space is often publicly available due to the Lobbying Disclosure Act. There's not much undercutting, and pricing is often based on a feel for the workload. For example, a client might be quoted $25,000 a month based on the workload. If a client comes back and says their budget is $22,000, most lobbying firms would likely agree to that. The business model allows for profitability even with such concessions.

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