When Rosemary McKenna completed a summer associate job with Blank Rome LLP in Philadelphia, she was happy to receive an offer of full-time employment. But instead of starting her new position last month as planned, Ms. McKenna, who graduated from Temple University's Beasley School of Law in May, will be working as a hostess at a local restaurant.
Law firms are asking new hires to defer their employment start dates, an unprecedented step for many firms that have weathered previous economic downturns without wide-scale postponements. Large firms such as Morgan, Lewis & Bockius LLP and Orrick, Herrington & Sutcliffe LLP have delayed the start dates for their new associates for a full year or more. Summer internships -- usually the surefire way to land a job -- produced fewer offers than ever before, law firms and students say. And because law firms budget ...........http://online.wsj.com/article/SB125478012114565787.html
2008 Was The Most Serious Financial Crisis since the 1929 Wall Street Crash. When viewed in a global context, taking into account the instability generated by speculative trade, the implications of this crisis are far-reaching. The financial meltdown will inevitably backlash on consumer markets, the global housing market, and more broadly on the process of investment in the production of goods and services.
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