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Posted by The Dow is Down Guy in "Open Thread: Is This the Beginning of the End for Summer Associate Programs? " Thursday, May 21, 2009 1:19 PM


Saudek and his firm are correct in making this adjustment. We have not reached bottom, only the rate of descent has slowed. The demand for legal services will not recover until the second quarter of 2010.

Posted by The Dow is Down Guy in "Fish & Richardson Puts One-Third Of Its Incoming Associates On Ice" Thursday, May 21, 2009 2:15 PM


Fish & Richardson's actions are prudent. The economy has not hit bottom; only the rate of descent has slowed. The demand for legal services will not increase until the second quarter of 2010.

Posted by The Dow is Down Guy in "Nationwide Salary Cut Watch: Sonnenschein Has Had Enough of Lockstep" Thursday, May 21, 2009 5:44 PM

Sonnenschein's actions are prudent. The economy has not hit bottom; only the rate of descent has slowed. The demand for legal services will not increase until the second quarter of 2010.

Posted by The Dow is Down Guy in "First Quarter 2009: It Still Stinks" Tuesday, May 26, 2009 4:17 PM


37/Elie -

Thanks for the shoutout!

TDIDG

Posted by The Dow is Down Guy in "Inside the Black Box: Jones Day Staff Salary Freeze" Wednesday, May 27, 2009 11:35 AM


The management of Jones Day is taking prudent action in light of the recession. The management recognizes that while the rate of descent has slowed, the economy has not yet hit bottom. The demand for legal services will not pick up until the second quarter of 2010.

Posted by The Dow is Down Guy in "Salary Cut Watch: Dorsey & Whitney Cuts Salaries by 10%" Wednesday, June 3, 2009 12:04 PM

ADP reports another 532,000 jobs were lost in May, indicating that while the rate of descent has slowed, the economy has not yet hit bottom. Therefore, these cost cutting measures by Dorsey are prudent, given that the demand for legal services will not increase until the second quarter of 2010.

Posted by The Dow is Down Guy in "Staff Layoff Watch: Paul Hastings Re-Centers 25 Staffers" Monday, June 15, 2009 4:27 PM

The Dow was down 187 points today. What did you expect, good news from Paul Hastings?

Posted by The Dow is Down Guy in "Ropes & Gray: Defers Current Summers to 2011" Monday, July 6, 2009 11:48 AM


The management of Ropes & Gray realizes that the demand for legal services will not increase until after the second quarter of 2010. Therefore, a 2011 start date for the class of 2010 makes sense.

Posted by The Dow is Down Guy in "Nationwide Layoff Watch: DLA Piper Cuts 120 121" Wednesday, July 8, 2009 1:34 PM

"Unfortunately economic weakness has continued, demand across the legal sector remains soft, and it is increasingly clear that major improvements in the US and global economy will not occur before 2010."

Finally a firm admits to the truth.

Posted by The Dow is Down Guy in "Notes from the Breadline: Fear of Falling" Wednesday, July 8, 2009 1:37 PM

61 -

Puh-leeze. I am not Roxana.

Posted by The Dow is Down Guy in "Fall Recruiting Open Thread: The OCI -- Drop it like it's hot? " Wednesday, July 29, 2009 2:51 PM

The Dow is down.
Law firms will continue to retrench.
The demand for legal services will
not increase until second quarter 2010.

Posted by The Dow is Down Guy in "Baker McKenzie Profits Per Partner Tumble. More Outsourcing in the Future? " Monday, August 17, 2009 1:35 PM


PPP is falling, just like the Dow.

Posted by The Dow is Down Guy in "Notes from the Breadline: Every Picture Tells a Story (Part II)" Wednesday, October 14, 2009 4:50 PM

6 -


Yawn. Wake me when the Dow gets back to 14,000.

Posted by The Dow is Down Guy in "Foley & Lardner: Layoffs Complete, But Still No Room for First Years" Wednesday, October 21, 2009 4:11 PM

Foley is only doing what's prudent given that the Dow has fallen below 10,000 today, signaling the end of the 6 month bear market rally.

Posted by The Dow is Down Guy in "Nationwide Salary Cut Watch: Williams Mullen" Wednesday, October 21, 2009 4:13 PM

Williams Mullen is only doing what's prudent given that the Dow has fallen below 10,000 today, signaling the end of the 6 month bear market rally.

Posted by The Dow is Down Guy in "Squire Sanders: Deferral Extensions, Impending Layoffs and Assorted Sundries " Wednesday, October 21, 2009 4:13 PM

SSD is only doing what's prudent given that the Dow has fallen below 10,000 today, signaling the end of the 6 month bear market rally.

Posted by The Dow is Down Guy in "Does This Count as Legal Experience?" Wednesday, October 21, 2009 4:38 PM

Taking into consideration that the Dow has fallen below 10,000 today, signaling the end of the 6 month bear market rally, this job may prove to be a worthwhile endeavor.

Posted by The Dow is Down Guy in "Allen Matkins Makes Another Salary Cut, And More Layoffs" Friday, October 23, 2009 12:23 PM

Considering that the Dow is once again sliding below 10,000, signaling the end of the bear market rally, Allen Matkins is acting prudently in cutting salaries and staff. The demand for legal services, especially in real estate, will not recover until the second quarter of 2010.

Posted by The Dow is Down Guy in "Nationwide No Offer Watch: McGuireWoods Does the Wave" Wednesday, October 28, 2009 5:53 PM

Considering the falling Dow, indicating the end of the bear market rally, McGuireWoods is pursuing a prudent course. The demand for legal services will not recover until the second quarter of 2010.

Posted by The Dow is Down Guy in "Further Deferrals at Winston & Strawn
(Plus other goings-on at the firm.)"
Tuesday, November 3, 2009 10:38 AM

Considering the falling Dow, indicating the end of the bear market rally, the preeminent law firm of Winston & Strawn is pursuing a prudent course in further deferring two-thirds of the class of 2009. The demand for legal services will not recover until the second quarter of 2010.