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American Lawyer Says Party Like it's 2007
Poast new message in this thread
Date: August 10th, 2010 12:01 AM Author: irradiated transparent turdskin http://www.law.com/jsp/article.jsp?id=1202464421323&rss=newswire (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15750817) |
Date: August 10th, 2010 7:07 AM Author: irradiated transparent turdskin I love how when someone posts an article, taken from a legitimate source that runs contrary to the cw on this board, it gets shunned.
I guess you all really do like your parents' basements. |
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Date: August 10th, 2010 7:56 AM Author: trip chapel private investor It would be great if we went back to 2006-2007, but this article doesn't indicate that this will happen. What is happening instead is that law firms are accepting that the economy could improve and therefore will increase summer associate hiring in anticipation of a best case scenario. If that doesn't materialize? Well, we all know what'll happen then. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752653) |
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Date: August 10th, 2010 8:33 AM Author: irradiated transparent turdskin I was speaking sarcastically in the thread title, of course. The point I was driving at is, simply, that shit is improving and in some cases dramatically. XO will never actually acknowledge this possibility; just fucking gloom and doom all the live long day here. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752701) |
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Date: August 10th, 2010 9:00 AM Author: French Sanctuary itll always be doom and gloom when the biglaw model is still in place. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752742) |
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Date: August 10th, 2010 10:33 AM Author: metal mexican Subject: test subject test message (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752999) |
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Date: August 10th, 2010 10:57 AM Author: metal mexican (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15753071) |
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Date: August 10th, 2010 9:18 AM Author: khaki buck-toothed area The US lost 131,000 jobs last month and the private sector only added 70,000. You have a funny definition of improving.
Plus, they revised down the prior month's numbers and all the GDP forecasts for the year have been cut to below 3% and most to below 2.5%. |
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Date: August 10th, 2010 9:33 AM Author: Deep church building read the fucking article dumbass...cravath summer class from 20 ----> 80.
that sounds like an improvement to me you fucking idiot |
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Date: August 10th, 2010 3:25 PM Author: trip chapel private investor lol, flame. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15754731) |
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Date: August 10th, 2010 4:04 PM Author: Laughsome Electric Furnace Sorry you cant get a job dude but you can't let your bitterness blind you forever. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15755026) |
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Date: August 10th, 2010 9:45 AM Author: Laughsome Electric Furnace meanwhile, firms are busy. these indicators really only matter in the abstract. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752823) |
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Date: August 10th, 2010 9:45 AM Author: khaki buck-toothed area yep, so busy they shed 800 more jobs last month. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752825) |
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Date: August 10th, 2010 9:45 AM Author: Laughsome Electric Furnace says the guy not working in biglaw. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752827) |
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Date: August 10th, 2010 9:48 AM Author: khaki buck-toothed area You'd shit yourself if you knew where I worked. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752836) |
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Date: August 10th, 2010 9:51 AM Author: startled cobalt cuckold a lawyer at your firm makes 145k so i don't think so (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752851) |
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Date: August 10th, 2010 3:26 PM Author: trip chapel private investor Uh, you're a moron if you believe this. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15754737) |
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Date: August 10th, 2010 4:05 PM Author: Laughsome Electric Furnace Uh, I work at a big firm and actually see it. Sorry bitch. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15755037) |
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Date: August 10th, 2010 5:01 PM Author: trip chapel private investor Enjoy your layoff if the economy double dips, dumbass. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15755488) |
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Date: November 14th, 2010 8:19 PM Author: dead box office stock car LOL at your bitterness. You should wish him well. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16552151) |
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Date: March 31st, 2011 3:38 PM Author: Magical aqua hominid Dude, firms are busy. The fact you are poison and no one will touch you and that you apparently don't know anyone other than fellow insufferable layoff victims doesn't change this.
EDIT: Just realized this was from distant past times. lol. I'm ape. But firms actually are busy right now, FWIW. |
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Date: August 10th, 2010 9:16 AM Author: Stubborn nursing home This still leaves out Class of 2009 and Class of 2010 that have already graduated without jobs. Who gives a fuck if some extra 2L's get summer associate positions for next summer?
This is in fact a sign that nothing at all has changed or ever will change with the legal profession. Fuck over associates in the moment, recruit the new lemmings when things get better. |
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Date: August 10th, 2010 9:20 AM Author: French Sanctuary "This is in fact a sign that nothing at all has changed or ever will change with the legal profession. Fuck over associates in the moment, recruit the new lemmings when things get better. "
YUP. |
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Date: August 10th, 2010 9:21 AM Author: khaki buck-toothed area 800 jobs lost in the industry just last month and just shy of 19,000 for the year. Law schools graduate 40k a year. How are 40k supposed to find a spot in an industry thats shedding 19k jobs a year?
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Date: August 10th, 2010 9:35 AM Author: Deep church building who gives a shit about the NOVA grads bro (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752805) |
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Date: August 10th, 2010 9:35 AM Author: khaki buck-toothed area shitlaw isnt the one doing the firing bro. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752809) |
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Date: August 10th, 2010 9:38 AM Author: Deep church building BRO you didn't even read the fucking article BRO
V10 firms are going to have bigger summer classes than last year, in some cases 2-3x. That's all I care about.
Sorry about your tiny pink employment opportunities |
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Date: August 10th, 2010 9:43 AM Author: khaki buck-toothed area they no-offered half their 2008 classes and to save themselves the trouble of having to do it again they simply cut the 2009 and 2010 classes in half. Given how many real lawyers are still being shit canned left and right chances are they will probably just pull another 2008 and no-offer these fuckers. You have zero job security bro.
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Date: August 10th, 2010 9:45 AM Author: Laughsome Electric Furnace really? cravath and skadden no offered a bunch of people? intersting. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752826) |
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Date: August 10th, 2010 9:52 AM Author: khaki buck-toothed area Did I say something about those 2 firms in particular? No I didnt. Did you get a 140 on the LSAT or what? (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752858) |
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Date: August 10th, 2010 9:53 AM Author: Laughsome Electric Furnace guess you didn't read the article then (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752867) |
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Date: August 10th, 2010 9:46 AM Author: deranged chartreuse ratface tell us about YOAR job security shitlaw steve (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752828) |
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Date: August 10th, 2010 9:47 AM Author: khaki buck-toothed area I do fine bro. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752832) |
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Date: August 10th, 2010 9:49 AM Author: deranged chartreuse ratface lol bro they will shitcan you and send you back to shitlaw without thinking twice about it. on top of that you're pretty dumb, so you don't have a lot going for you. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752842) |
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Date: August 10th, 2010 9:20 AM Author: cerebral police squad range I didn't know WSJ had an alternate publication. Two :D articles in under TOO days! Amazing (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752786) |
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Date: August 10th, 2010 9:31 AM Author: deranged chartreuse ratface lol talk about a lagging indicator. the fed is going to announce that we are FUKD and going into a double dip today. dow to 5000 by the end of the month. have fun job hunting class of 2012! (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752800) |
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Date: August 10th, 2010 9:31 AM Author: Maize Incel Regret It's certainly an optimistic article, and you're right that AutoAdmit seems to be fairly pessimistic about job opportunities. But what point are you trying to prove? There are a number of contexts showing serious problems.
Law schools have increased tuition around 10% across the board over the last three years. Law firms have not increased salaries in the last few years. Hiring is still below its levels from the fall of 2007.
So all the "optimism" in the article indicates that things are not as bad as last year. But that doesn't mean they're even *relatively* good compared to just three years ago. And, of course, law school is more expensive, there are a number of laid off or unemployed 3Ls and recent graduates looking to get into these firms, and there are still very real shifts in the long-term future of the legal profession.
So you're right: be optimistic. It's not as bad as last year. But a word of caution to the law students giddy at any upturn in the market: don't have an entitlement mentality. |
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Date: August 10th, 2010 9:41 AM Author: khaki buck-toothed area the industry as a whole is shedding jobs at the rate of 800 to a 1000 a month. It doesnt fucking matter if more firms are interviewing at schools or if more 2L's are getting summer jobs because with 800 permanent REAL jobs a month disappearing there is no way in hell all of these people will be getting offers. When the real job losses stop we will know things are improving. Until then all this BS just means firms are hedging their bets and bringing in people they can no-offer later. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752816) |
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Date: August 10th, 2010 9:45 AM Author: Maize Incel Regret Most firms want 100% offer rates. Most firms extended 100% offer rates this summer. Most firms are going to target 100% offer rates next year. We'll see in 12 months if they made the correct adjustment. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752824) |
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Date: August 10th, 2010 9:46 AM Author: khaki buck-toothed area Most firms dont give a shit about offer rates as the last 3 years should have taught you. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752830) |
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Date: August 10th, 2010 9:48 AM Author: Maize Incel Regret Maybe I'm not understanding you. Most firms gave really high offer rates even in 2008, but they deferred a number of them (and a number were let go in the end). Most firms had low-ish offer rates (~75%) in 2009. And most firms have 100% offer rates this year. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752838) |
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Date: August 10th, 2010 9:49 AM Author: irradiated transparent turdskin holy fuck are you a debbie downer or what? Is it your calling in life to shit all over the few shoots of green that spring up in this sea of despair? Let's review:
(1) "hiring is still below its levels from the fall of 2007".
Um, well, gosh, if we applied that standard across the board, we might as well just fucking kill ourselves now.
(2) "So all the "optimism" in the article indicates that things are not as bad as last year. But that doesn't mean they're even *relatively* good compared to just three years ago. And, of course, law school is more expensive, there are a number of laid off or unemployed 3Ls and recent graduates looking to get into these firms, and there are still very real shifts in the long-term future of the legal profession. "
You know what's also not relatively good to just three years ago? My equities portfolio, my credit card score, my fucking pant size, my sex life, my XBox Live gamerscore, my agility..... you see where I'm going with this....
(3) "So you're right: be optimistic. It's not as bad as last year. But a word of caution to the law students giddy at any upturn in the market: don't have an entitlement mentality."
Nice job ending your rant with a little strawman there.
TO ALL LAW STUDENTS EVERYWHERE: SUSPEND YOUR COPIOUS SENSE OF ENTITLEMENT. EVEN THOUGH WE OUTWARDLY SAY WE'RE GOING TO DIE POOR AND ALONE, AND DESPITE ACKNOWLEDGING COLLECTIVELY THAT THIS PROBABLY TRUE, DEEP DOWN WE ALL PERSONALLY BELIEVE WE'RE MAKING EQUITY AT A V10. |
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Date: August 10th, 2010 9:50 AM Author: Laughsome Electric Furnace tcp. xo is full of such loserfags. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752844) |
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Date: August 10th, 2010 9:52 AM Author: Maize Incel Regret I can't even understand his critique. Making comparisons to his Xbox scores perplexes me. But kids these days. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752861) |
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Date: August 10th, 2010 9:50 AM Author: deranged chartreuse ratface green shoots? lol
the dow just opened down 130 points, will fall over 250 today
deflation is coming: decreasing demand, wages, and monetary value
the fed is going to announce today that we are almost certain to see a double dip, although they won't phrase it like that
PWN PWN PWN PWN PWN PWN PWN |
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Date: August 10th, 2010 10:22 AM Author: Laughsome Electric Furnace this post is so irrational and hyperbolic it's ridiculous. you realize you lose credibility posting shit like this (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752961) |
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Date: August 10th, 2010 10:24 AM Author: deranged chartreuse ratface you mean to tell me xoxo is full of hive-minded pessimists who predict doom and gloom at every turn without a sound basis? (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752967) |
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Date: August 10th, 2010 10:27 AM Author: Laughsome Electric Furnace and yet you're still making an ass of yourself with your ridiculous posting. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752977) |
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Date: August 10th, 2010 10:28 AM Author: deranged chartreuse ratface sorry bro. i've embarrassed both of us (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15752982) |
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Date: August 10th, 2010 9:51 AM Author: Maize Incel Regret It's in my personal interest to see the maximum number of students clamoring to go to law school and command a premium tuition. I'm just providing a, in your words, "debbie downer" context.
I hope your career takes you where you want to go. |
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Date: August 10th, 2010 10:39 AM Author: Stubborn nursing home Don't worry, you're the sane one here. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15753016) |
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Date: March 31st, 2011 4:27 PM Author: galvanic nudist new version Honestly who gives a shit? Most of us got fucked by ITE and missed the boat. Even if 100% of c/o 2013 gets biglaw, I'm fucked for life, and so are most other poasters. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#17655630) |
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Date: March 31st, 2011 4:30 PM Author: Magical aqua hominid Sounds made-up. Lots of posters who were "fucked by ITE" are now gainfully employed in six-figure legal jobs. And, of course, lots of other posters were never "fucked by ITE" even though they were in biglaw at the time.
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Date: August 10th, 2010 2:25 PM Author: henna puppy locale the article doesn't sound that optimistic to me. Cravath increasing from 25->80 has gotta be viewed on context of having 161 c/o 2009 summers and 122 c/o 2010 summers; the c/o 2011 class was a token class. A bunch of firms mentioned in the article cut their summer classes by 70%+ and stopped hiring 3L's and clerks. A 5-20% increase in summer hiring is hardly cause for joy. Also, a few of the firms stated they won't increase hiring from this summer, despite current record low numbers. Also, many of the firm partners noted that the economy is still really uncertain.
Summary: hiring is down 50% from 2007; a 5-10% increase is summer hiring will occur this year.
This tepid increase is all the more pathetic when you consider that most firms by 2012 should have resolved their deferral backlog. Half the reason why c/o 2011 got shafted so badly was the deferrals of the previous two classes (the other half being lower activity level, no voluntary attrition). The fact that summer hiring is still so low despite a gradual end to the deferral backlog is bothersome |
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Date: August 10th, 2010 2:29 PM Author: deranged chartreuse ratface yeah, but a just world doesn't require that top 60% at GW get biglaw. some downturn from the insanity that was 2006/2007 feels right. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15754317) |
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Date: August 26th, 2010 7:38 PM Author: Coiffed preventive strike How's that working out for you OP? (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15888733) |
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Date: August 26th, 2010 9:17 PM Author: irradiated transparent turdskin give it time (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15889526) |
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Date: August 27th, 2010 12:44 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15894871) |
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Date: August 30th, 2010 6:30 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15923629) |
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Date: September 1st, 2010 4:58 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#15940575) |
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Date: September 10th, 2010 12:15 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16010310) |
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Date: September 10th, 2010 12:20 PM Author: deranged chartreuse ratface (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16010340) |
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Date: November 14th, 2010 2:43 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16548977) |
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Date: November 14th, 2010 6:05 PM Author: irradiated transparent turdskin V50, u mad? (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16550886) |
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Date: November 23rd, 2010 5:05 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16627394) |
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Date: December 27th, 2010 9:16 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16911060) |
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Date: January 5th, 2011 5:01 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16978365) |
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Date: January 16th, 2011 3:30 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#17067863) |
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Date: January 16th, 2011 3:31 PM Author: irradiated transparent turdskin yes? we've been through this. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#17067873) |
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Date: March 31st, 2011 3:24 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#17655067) |
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Date: June 1st, 2011 4:32 PM Author: Coiffed preventive strike (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#18141541) |
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Date: September 11th, 2010 10:03 PM Author: irradiated transparent turdskin Here it is. Your long-awaited concession that OCI 2010 was a fucking nightmare. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16022267) |
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Date: September 11th, 2010 10:04 PM Author: Chrome beady-eyed spot oh what a fucking shock. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16022279) |
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Date: September 11th, 2010 10:10 PM Author: Razzmatazz rigor hall Serves you right for being so smug. GL finding a job, faggot (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16022312) |
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Date: November 14th, 2010 8:34 PM Author: Disrespectful big stag film cuck He already said he has a jerb. (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16552291) |
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Date: November 14th, 2010 8:17 PM Author: cracking school double fault gl (http://www.autoadmit.com/thread.php?thread_id=1391880&forum_id=2#16552128) |
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Date: January 16th, 2011 4:32 PM Author: aromatic factory reset button "We're definitely seeing more optimistic outlooks from firms, and I think people have a fairly good handle on a recovery going forward," said Sharon Weinberg, managing director of J.P. Morgan's law firm group. "But I don't think anyone thinks we're going back to the glory days."
WTH does a banker care about law firm economics? Can someone explain why this position exists? |