What "severe and prolonged downturn in the global economy" are they talking about? I seem to recall something about a downward blip in the economy in the past but right now the Dow is soaring ever upwards and shows no signs of stopping. These layoffs may have been justified a few months ago make but they make no sense in the current economic climate. Very foolish.

The Dow is Down Guy: your outlook is as shortsighted as Shearman's. Today only marks a momentary pause in the Dow's meteoric climb upwards. Its up over 20% in the past month and its friend the Nasdaq is up for the year. You and Shearman will look foolish in due time, the boom has begun, the recovery is here.

The Dow is Down Guy: this current rally is very different from other rallies that have occurred over the past year. If you look at the graph linked to below you will note that this rebound is much more gradual and sustained than the short, jagged upward movements of the recent past.

http://markets.on.nytimes.com/research/markets/usmarkets/snapshot.asp?symbol=US%26DJI

Mortgage rates have dropped, there are signs of credit markets easing, and it appears as if banks are stabilizing. Manufacturing is up, as is new home construction. The bottom of the market was touched on March 9th and the bull market began then. We are in a recovery period and prudent firms will recognize this and stop the bloodshed. Viva la economy!

We closed at over 8,000 today boys. That's one small step for the Dow, one giant leap for the economy. Viva la boom of 2009!

As my good friend George Harrison once said, all things must pass. And given that the Dow is up 20% over the last month it is more than clear that the inevitable passing of the recession has taken place. Today's momentary hiccup aside, the Dow will continue its meteoric rise in the months to come, ushering in a new boom era. Firms deferring incoming associates are foolhardy and shortsighted. Mark my words, in several months we will start seeing start dates pushed up instead of pushed back.

Another day, another increase in the Dow. Retail sales are up, yet another sign the recession is over. It's all smooth sailing from here on out.

There is absolutely no upside to deferring for a year. In case you hadn't noticed the Dow is flying upwards on a weekly basis. The recession is over and Biglaw's insatiable demand for warm associate bodies will return later this year. 3Ls shouldn't act foolishly just because some firms have. Start as early as possible, viva la boom!

I don't know what kind of economic forecasters they have over at Shearman, but where I come from an upwards-shooting Dow means a recession is over. It has been over a month since we hit bear market lows and the Dow 's resiliency has established that this isn't a flash in the pan bear market run, but the start of a new boom. History will not look kindly on Shearman here. One can only hope that other firms have more sense.

When I think Volvo, I think safety.

When I think Shearman, I think 2001 layoffs.

The Dow is Down Guy: apparently you haven't been reading the news. Wells Fargo, Goldman Sachs and JP Morgan have all posted stronger than expected earnings for the first quarter and jobless claims declined last week. And this is on top of the good news that has been pouring in since March. Cutting salaries now flies in the face of common sense. The recession is gone. The new boom is here.

Ho hum, another day, another 100+ point increase in the Dow.

Layoffs are down for the past two weeks, and the Dow has risen for the past six. Looks like firms are finally starting to get smart. The world as we know it has not ended, the economy is back, baby.

In other good news, the Dow is up yet again today. Viva la boom, jobs for all!

92: You certainly are not me. However, the Dow is indeed up and these firms are undoubtedly foolish.

Just when I thought firms had finally wisened up, SRZ goes and does something like this. All the nattering nabobs of bear market negativism had predicted the market would crumble this week as earnings were released. And yet here we are on Friday and the Dow is still going strong. The recession is over and behavior like this will deservedly get you trampled by the bulls. Kudos to those who have listened to my word. The Dow is up, viva la boom!

Now that the recession is over and the Dow is back in the green we should see quite a pickup in business for the second half of 2009. The doom and gloom over at AmLaw is baseless pessimism. The new boom is here, get in the market while it's still a deal.

This is embarassing. Over 2000 points packed onto the Dow in under 2 months and these geniuses are pushing back start dates. C'mon people, the Dow is up, the new boom is here.

This is a very Q4 2008/Q1 2009 thing to do. Definitely not something you'd expect to see during the nascent stages of an economic boom.

Threads like this were only appropriate before the Dow hit 10,000, signaling a new era of prosperity for all. We have come full circle from the depths of last year's recession, viva la boom of 2009.