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Lawyers, how bad is the economy affecting your business?


Mr. Hoopah!
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I'm a 1L at Cumberland, and all year the dope who runs career services has done nothing but tell us how much the economy has affected lawyers, and that everywhere law offices are shutting down and lawyers are being let go. Also, that basically none of us were going to get summer clerkships in Birmingham this summer and to just go home for the summer and try to find jobs there. As my GPA from last semester wasn't awful, but was definitely not great, I threw in the towel and didn't even interview with any Birmingham firms; I don't plan on staying there anyways, I want to return to the Columbus area. All the firms here cut their summer programs as well. I went to 15 different law offices and handed out my resume, and probably wasted my time with every single one of them. Interviewed with the new Muscogee County DA this morning who would have hired me on the spot, but because of the budget crisis she can't pay any summer interns and her normal employees are about to get a 10% pay-cut. I lucked up and got a job with the attorney I used to work for, thankfully with a small raise over what I earned there before when I was still in undergrad.

Apparently last Friday in Atlanta 400 + lawyers were laid off, including partners. They've gotten so desparate that lawyers have been interviewing for paralegal positions. I was just wondering if any of the lawyers on the board have been facing the same financial difficulty. It didn't set in with me today until I saw the looks on the people's faces when I handed them my resume.

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It's not much better in SD. I am a 1L at USD and the same thing is happeneing. The DA's office is slashing 2L and 1L clerkships, as are most of the SD municipal offices. FIrms are reducing their 2L clerkships and outright slashing the 1L positions. I'm in your boat as I am going to work for my old firm this summer, but may people are S.O.L.

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As bad as it is for us, I feel terrible for this year's graduating class. They're saying it's the worst year to enter into the profession in the last hundred years. It can HOPEFULLY turn around by the time we graduate.

I'm fairly confident it will. And if not, and the economy sucks, then be an ADA :) You know crime will rise...

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I'm fairly confident it will. And if not, and the economy sucks, then be an ADA :) You know crime will rise...

I've been seriously considering it as of late, that's why I wanted to intern with the DA this summer. I was pretty opposed to doing criminal law before law school, but I'm open to the idea now. I think I want to go into some type of litigation so it would be great trial experience. They throw ADA's in court the day their bar results come in. Not the highest salary, but better hours than private practice, and killer benefits. I would definitely do it for a year or two coming out of school.

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It's worse at the huge firms than at the midsize or small firms.

Our firm isn't laying anyone off, but I've read nothing but layoffs from the larger firms. If you do a huge corporate practice and corporations are downsizing and going out of business, you are bloated and have to get rid of some manpower. I don't think the profession as a whole will suffer as much as the mega-firms will get hit. That is NOT to say it won't affect smaller firms, but it will affect them in proportionally smaller measure.

Obligatory lawyer joke -- how do you get a lawyer out of a tree?

Cut the rope.

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It's worse at the huge firms than at the midsize or small firms.

Our firm isn't laying anyone off, but I've read nothing but layoffs from the larger firms. If you do a huge corporate practice and corporations are downsizing and going out of business, you are bloated and have to get rid of some manpower. I don't think the profession as a whole will suffer as much as the mega-firms will get hit. That is NOT to say it won't affect smaller firms, but it will affect them in proportionally smaller measure.

Obligatory lawyer joke -- how do you get a lawyer out of a tree?

Cut the rope.

Didn't realize you were a lawyer also. Cool, that gives me hope that I can afford awesome guitars and amps one day too :lol:

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My best friend in the world is a lawyer, so...

The Post Office just recalled their latest stamps.

They had pictures of lawyers on them, and people couldn't figure out which side to spit on.

How can a pregnant woman tell that she's carrying a future lawyer?

She has an uncontrollable craving for baloney.

How does an attorney sleep?

First he lies on one side, and then he lies on the other.

How many lawyer jokes are there?

Only three. The rest are true stories.

How many lawyers does it take to change a light bulb?

How many can you afford?

How many lawyers does it take to screw in a light bulb?

Three. One to climb the ladder, one to shake it, and one to sue the ladder company.

If a lawyer and an IRS agent were both drowning, and you could save only one of them, would you go to lunch or read the paper?

What did the lawyer name his daughter?

Sue.

What do you call 25 skydiving lawyers?

Skeet.

What do you call a lawyer gone bad?

Senator.

What do you call a lawyer with an IQ of 50?

Your Honor.

What do you throw to a drowning lawyer?

His partners.

What does a lawyer use for birth control?

His personality.

What happens when you cross a pig with a lawyer?

Nothing. There are some things a pig won't do.

What's the difference between a lawyer and a vulture?

The lawyer gets frequent flyer miles.

What's another difference between a lawyer and a vulture?

Removable wing tips.

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With the way relationships are tied into finances and how couples break up at the drop of a hat, one would think divorce/family lawyers would be raking in the dough in this economy.

They've done a few studies recently, and because divorces are such an expensive process to go through, many couples have just been staying together. It's the old saying "it's cheaper to keep her." However, when, scratch that, IF we ever come out of the recession, then divorce rates will rise again. Bankruptcy law is where it's at currently. It all goes in cycles.

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With the way relationships are tied into finances and how couples break up at the drop of a hat, one would think divorce/family lawyers would be raking in the dough in this economy.

As my friend told me just this morning, people are coming through the door and getting divorced, etc. The problem is getting them to pay their bills. You don't want to turn away business, so you try to work with the people, ie, waiting on payment.

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It's worse at the huge firms than at the midsize or small firms.

Our firm isn't laying anyone off, but I've read nothing but layoffs from the larger firms. If you do a huge corporate practice and corporations are downsizing and going out of business, you are bloated and have to get rid of some manpower. I don't think the profession as a whole will suffer as much as the mega-firms will get hit. That is NOT to say it won't affect smaller firms, but it will affect them in proportionally smaller measure.

Obligatory lawyer joke -- how do you get a lawyer out of a tree?

Cut the rope.

So far, that is what is happening here. The large firms are cutting clerkships, will be offering fewer partnerships (which is a large firm's way of saying it would be more than OK if you left), and corporate clients are wanting to renegotiate already discounted hourly rates (which they will undoubtedly get, because it is better to do that than lose the client).

On my end of things, as sad as this will sound, business is booming. Unfortunately, when the economy tanks crime rises and people do some pretty terrible things to their kids.

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They've done a few studies recently, and because divorces are such an expensive process to go through, many couples have just been staying together. It's the old saying "it's cheaper to keep her." However, when, scratch that, IF we ever come out of the recession, then divorce rates will rise again. Bankruptcy law is where it's at currently. It all goes in cycles.

That's why I'm never getting married. Divorce costs too much.

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