Posts Tagged ‘worthless?’

Bloomberg’s News Article, Death of the Legal Industry and its Obituary

Law school No Longer a Safe Safe Bet
http://www.bloomberg.com/news/2013-07-22/when-law-is-no-longer-a-safe-bet.html
Bloomberg News

Although the article seems to mourn associates and their high salaries which the author recognizes is only a small percentage of actual attorneys, it gives the reader a backlash if you are a law graduate. It references how white collar employees who demeaned or look down upon blue collar workers in the 1950s who chose to forego higher education. This portion is distasteful as many law graduates who graduated before the 2008 economic collapse but in the late 1990s or later had nothing to do with 1950s social stigma as they were not even born and just emphasizes what I pointed out in the last point that no one cares what happens to attorneys as society has nearly always relegated practitioners as underhanded, spoiled, backstabbers and overpaid. The author basically gives a “middle finger” to attorneys and reflects why there is lack of support of reform from the accrediting agencies to those on Capitol Hill. The article did however discussed the legal industry as dead (yet more confirmation from mainstream media) and even wrote its obituary. A portion of the news article is displayed below:
_______________________________________________________

When I was contemplating becoming an English major, lo these many years ago, one helpful counselor told me that despite the stereotypes, English majors had lots of job opportunities. Advertising, public relations, academia. “And there’s always law school!” she said chirpily.
I didn’t end up going to law school; instead, after graduating, I embarked on a peripatetic odyssey of jobs and graduate school that culminated in my becoming a journalist. But I can imagine an alternative universe in which I did go to law school. Law school has long been the backup plan for humanities majors who don’t quite dare to apply for food stamps.
That era appears to be ending. Noam Scheiber writes the obituary:
“‘Stable’ is not the way anyone would describe a legal career today. In the past decade, twelve major firms with more than 1,000 partners between them have collapsed entirely. The surviving lawyers live in fear of suffering a similar fate, driving them to ever-more humiliating lengths to edge out rivals for business. ‘They were cold-calling,’ says the lawyer whose firm once turned down no-name clients. And the competition isn’t just external. Partners routinely make pitches behind the backs of colleagues with ties to a client. They hoard work for themselves even when it requires the expertise of a fellow partner. They seize credit for business that younger colleagues bring in.
“And then there are the indignities inflicted on new lawyers, known as associates. The odds are increasingly long that a recent law-school grad will find a job. Five years ago, during a recession, American law schools produced 43,600 graduates and 75 percent had positions as lawyers within nine months. Last year, the numbers were 46,500 and 64 percent. In addition to the emotional toll unemployment exacts, it is often financially ruinous. The average law student graduates $100,000 in debt.
“Meanwhile, those lucky enough to have a job are constantly reminded of their expendability. ‘I knew people who had month-to-month leases who were making $200,000 a year,’ says an associate who joined a New York firm in 2010. They are barred from meetings and conference calls to hold down a client’s bill, even pulled off of cases entirely. They regularly face mass layoffs. Many of the tasks they performed until five or ten years ago—like reviewing hundreds of pages of documents—are outsourced to a reserve army of contract attorneys, who toil away at one-third the pay. ‘All these people kept on going into this empty office,’ recalls a former associate at a Washington firm. ‘No one introduced them. They were on the floor wearing business suits. … It was extremely creepy.’ Still, any associate tempted to resent these scabs should consider the following: Legal software is rapidly replacing them, too.”

Quicklist: Law School is a Bad Investment News Articles

Law School: A Poor Investment:
2013 Mainstream News Articles List

These news articles are provided for quick reference as some have already been addressed in depth in prior posts:

04/19/2013, Volume 23, Issue 15
Is a legal education worth its costs?
http://library.cqpress.com/cqresearcher/document.php?id=cqresrre2013041900&PHPSESSID=p8dg0htm1e5n9ljtk3qj6u4s81#.Ud13_v15mc

03/19/2013: U.S. News & World Reports, ‘Make an Informed Decision When Considering Law School –Law prof Paul Campos advises a critical look at job statistics before students pursue J.D. degrees.’ Michael Morella 
http://www.usnews.com/education/best-graduate-schools/top-law-schools/articles/2013/03/19/make-an-informed-decision-when-considering-law-school

TIME Magazine 03/11/2013: Just How Bad Off Are Law School Graduates?
http://ideas.time.com/2013/03/11/just-how-bad-off-are-law-school-graduates/

Huffington Post
Legal Education Crisis: Schools Need to Cut the Fluff http://www.huffingtonpost.com/mark-nuckols/legal-education-crisis-sc_b_2863170.html
Mark Nuckols 03/12/2013

Huffington Post
Why You Should Not Go to Law School
http://www.huffingtonpost.com/tucker-max/law-school_b_2713943.html Tucker Max, 02/18/2013

02/15/2013: Hard lessons from record-low law school applications, Vera H-C Chan.
http://news.yahoo.com/hard-lessons-from-record-low-law-school-applications-200701891.html
02/10/2013:
One Law School Dean Tells Us The Real Reason No One Wants a JD Anymore
http://www.businessinsider.com/stephen-sheppard-paul-campos-brian-tamanaha-law-school-bubble-2013-2

01/30/2013: The New York Times, Law Schools’ Applications Fall as Costs Rise and Jobs Are Cut, Ethan Bronner. http://www.nytimes.com/2013/01/31/education/law-schools-applications-fall-as-costs-rise-and-jobs-are-cut.html

The U.S. Post Office is always hiring

Actually it’s not. During the past two years the Washington, D.C.; Virginia; Maryland areas postal services were affected by the recession. Local news stations touted the proposed shorter office hours as wells as reducing the number of days a postal worker delivers mail to 5 instead of 6 days. Wow, in my experience I have to wonder which is worse, waiting in a line at a bank for a teller to wait on you or waiting at the post office. I think it depends on the time of day and the teller, usually they’re both horrible. As of date, the U.S. postal service still delievers 6 days a week, but now they’re considering ‘reducing staff.’ Really? I guess having 2-3 tellers is too much especially when you service three suburban counties. So by now you have realized that the U.S. Postal Service isn’t hiring; but the U.S. Census is–allegedly.

I knew of an attorney who applied last year and was told that it was only the beginning of the application process. The Washington Post seems to promote being a census taker–at least it’s money. One cannot have an article about unemployed professionals without discussing the attorney who is looking for work:

The Washington Post Carol Morello, Washington Post Staff Writer
Monday, March 8, 2010 [
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/07/AR2010030702886.html?hpid=topnews ]

“After just two years as an associate at a small firm in the District, Williams was laid off in November 2008. She assumed she would land another job within four months. When that didn’t happen, her brother mentioned seeing an ad that the Census Bureau was hiring.”

Wow, at least she was able to get some real legal experience–I’m assuming. And look at this article posted a few days ago, it’s as if attorney’s are the new gauge for unemployment rates among professionals!:

‘Those college degrees don’t seem to be worth very much now,’ Dayton Daily News, March 16, 2010, Carol Flowers [http://www.daytondailynews.com/opinion/those-college-degrees-dont-seem-to-be-worth-very-much-now-603118.html ]

“My son holds five associate degrees, a bachelor’s, a master’s and a law degree. He has passed the bar exam in three states and cannot get a nibble because he is in competition for jobs with unemployed lawyers who have 10 to 15 years of experience.” Ok, this mother has to be reading our blogs now, so maybe family members do understand, well I still think most don’t.  Maybe she was part of the PLUS loan programs and now her credit is being affected, who knows, but the college-law school promos are being exposed.

Now just imagine that you were an older attorney but in the same situation. Economists state this is a jobless economic recovery. What? So I am to conclude the only ones primarily benefitting from a financial upturn would be actual corporations.