How to Restart Your Career in a Down Economy

From time to time, we receive e-mails notifying us of upcoming events. We always appreciate the information and are more than happy to pass along information that may be useful to our readers.

The Association of the Bar of the City of New York has informed of us of one event that sounds particularly intriguing. It, along with Vault.com, will host a day long program called “Getting Back in the Game: How to Restart Your Career in a Down Economy.” The Association explains that this program is “designed to assist job-seeking attorneys in learning how best to market themselves whether they are looking to go to a firm, start their own practice or are considering an alternative legal career.” We understand things aren't pretty our there in the legal world and commend the New York City Bar and Vault.com for putting together what looks to be a stellar event.

Speakers will include Patricia Hynes (President of the New York City Bar), Brian Dalton (Senior Law Editor of Vault.com), David Lat (founding editor of Above The Law), T.J. Duane (Principal of Lateral Link), a hiring partner and recruiting director from major international law firms, and many other notable members of the legal community.

When: Tuesday, June 16, 2009, 9:30 a.m. to 4:30 p.m.

Where: New York City Bar Association, 42 West 44th Street

Check out the Association's website for further information as registration (along with a registration fee) is required.

The Good Samaritan Effect

In light of our earlier open thread regarding changes in BigLaw compensation, we wanted to highlight a new emerging trend a reader alerted us to.  It appears that a few firms, instead of "[just] hand[ing] out severance package[s]," have given attorneys the option of working in public interest for lower salaries.  

As Stephanie Chen of CNN reports, many associates are jumping at this opportunity.  This seems like a fantastic idea to us.  We commend the initiative taken by firms that have encouraged associates to take on public interest work in any respect.

Open Thread: Student Debt Solutions

It's hard to feel optimistic about our country's economic future these days, and it is increasingly apparent that the legal industry is no more immune to America's new reality than anyone else. With the prospects for high paying legal employment (seemingly) dwindling by the day (see AboveTheLaw if you're in the mood to be depressed), it seems evident we need to come up with innovative solutions for dealing with student loan debt. Most law students, after all, have loan debt in excess of $150,000--the repayment of which will begin only a few short months after graduation. How can those of us who graduate without a job, or are deferred (perhaps perpetually) from our start date reasonably be expected to pay off our debt?

One solution I've come across is the "Cancel Student Loan Debt" movement on Facebook. The group, which has already attracted over 100,000 people, advocates canceling student debt to stimulate the economy:

Forgiving student loan debt would have an IMMEDIATE stimulating effect on the economy. Responsible people who did nothing other than pursue a higher education would have hundreds, if not thousands of extra dollars per month to spend, fueling the economy NOW. Those extra dollars being pumped into the economy would have a multiplying effect, unlike many of the provisions of the new stimulus package. As a result, tax revenues would go up, the credit markets will unfreeze and jobs will be created. Consumer spending accounts for over two thirds of the entire U.S. economy and in recent months, consumer spending has declined at alarming, unprecedented rates. Therefore, it stands to reason that the fastest way to revive our ailing economy is to do something drastic to get consumers to spend.

Several major news outlets have already reported on this interesting idea. But surely there are other plausible solutions that could both improve our economic woes and help students who are, regrettably, bound to face student debt struggles.

I invite our readers to share their solutions...

Open Thread - Black Thursday

Feel free to comment generally on today's news of massive law firm layoffs.  Thoughts? Apprehensions? Suggestions for the future of the profession?