Is The Worst Behind Us?

BoYancey — Mon, 20 Jul 2009 13:00:00 GMT

Some of the most recent headlines in the legal press have been aimed at the recession's impact on large law firms, and would leave one to believe that the industry is in shambles. Indeed, the world's formerly largest law firm, Clifford Chance, saw its profitability decline by a whopping 37%, while a Top 20 U.S. firm, Morgan Lewis, has just announced that it was cancelling altogether its 2010 summer internship program, after deferring start dates for 2009 hires to October of 2010. Much of the current commentary is focused on whether Morgan Lewis's decision is the first of many, and what that will mean for the industry generally, and current law students (and law schools) specifically.

Make More Rain : economic outlook, summer associates