tag:blogger.com,1999:blog-26981669.post5018905747684995948..comments2024-03-23T10:55:30.196-05:00Comments on Cold Fusion Guy: Too many Lawyers?Jim Peethttp://www.blogger.com/profile/07649414726939918803noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-26981669.post-43880352950677075552013-04-12T11:30:15.728-05:002013-04-12T11:30:15.728-05:00I graduated from a "3rd tier law school"...I graduated from a "3rd tier law school" in 1996. I had around 45,000 in Debt and I thought that was super high. <br /> It took me over a year to find a job in the legal profession and it was as an Assistant Public Defender. I was "laid off" because in my state PD's can make up to 120,000 a year and the salary increases each year post bar passage. Due to state budget cut backs rural Public Defender's Offices rarely need more than one person with many years of experience due to the fact that they are expensive. Our office had three. And contrary to popular misconception government jobs in law are great. No cost for advertising, no cost for Legal Assistant help. Paid for mileage. And dozens of other benefits with the main one being a 40 to 50 hour work week. <br /> My advice to any one graduating law school is to do anything you can to get a government job and make your self irreplaceable. For small to medium private practice is a brutal world of clamoring for clients. It's really not a pretty picture.<br />SLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26981669.post-2537945660582139822013-03-22T06:40:31.867-05:002013-03-22T06:40:31.867-05:00Relevant: Wells Fargo trimming outside legal expen...Relevant: <a href="http://newsandinsight.thomsonreuters.com/Securities/News/2013/03_-_March/Wells_Fargo_trimming_outside_legal_expenses__general_counsel/" rel="nofollow">Wells Fargo trimming outside legal expenses: general counsel</a><br /><br /><i>Wells Fargo & Co is looking to spend less money on outside lawyers as part of a companywide cost-cutting initiative, the bank's general counsel said on Thursday.<br /><br />The No. 4 U.S. bank by assets began reviewing these expenses about nine months ago and plans to start implementing changes in the next quarter or so, Jim Strother said in remarks at a University of North Carolina law school conference in Charlotte, North Carolina.<br /><br />"We do expect to have a meaningful reduction in outside counsel expense," Strother told Reuters after the speech, declining to provide details.<br /><br />Wells' focus on legal expenses is the latest example of banks tightening their belts at a time when low interest rates and new regulations are making it more difficult to increase revenue.<br /><br />The bank will likely increase internal staff to handle a litigation workload that has mushroomed in the wake of the financial crisis, Strother said. The legal department currently has more than 800 people, including 390 lawyers, he said.</i>Jim Peethttps://www.blogger.com/profile/07649414726939918803noreply@blogger.comtag:blogger.com,1999:blog-26981669.post-84389535466559797382013-03-21T17:11:05.362-05:002013-03-21T17:11:05.362-05:00Somehow I'm reminded of my own profession here...Somehow I'm reminded of my own profession here. We tried to legislate jobs for ourselves via government in areas like NASA and defense contracting, are by nature problem solvers, and then we're surprised that when goverment stops working well, we're out of work.<br /><br />It's also worth noting that the kind of problem-solving Foster and the Salon piece talk about used to be the province of the liberal arts grad. So we now take the first 3-4 years of their best thinking for law school and give 'em $150k more in debt (or less in savings and (bonus of bonuses!) no job.<br /><br />I wonder if there's a smart lawyer or engineer somewhere out there who can figure a way out of this.....Bike Bubbahttps://www.blogger.com/profile/08193546045614393425noreply@blogger.com