Jan 23, 2008

Let the bad times roll...

recession.jpgWill law firms be affected by the recession? Some say the legal business is already in one. How many associates did Cadwalader Wickersham & Taft lay off this month? 35. How many associates did Thatcher Proffitt & Wood cut at the end of the year? 50.

What legal practice areas are likely to be recession-proof? Real estate. How much has O'Melveny and Myers billed in six months over the subprime collapse? More than $12.5 million.

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