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When the Economy Hits Home

In light of the economic conditions today, it may be appropriate to start an open thread on the market.

There's a lot to discuss here, so let me get us started.

First: to what degree is this going to impact our jobs? The simple answer is that there's going to be a contraction in the number of positions available. But to dig deeper, what firms are going to take the greatest hit?

I can't imagine firms who rely on Lehman, WaMu, AIG or Merrill are thrilled. But then again, firms that don't rely on those companies for work may see their clients shift to firms that do. Are there firms that are safe, or is everyone screwed (except for the bankruptcy lawyers)? Or will it just be the lesser-known firms getting poached by the bigger players? It's hard to imagine Wachtel associates switching to baked beans and stale bread they find in the dumpster behind the Safeway...

Second: How has the economy impacted the interview habits of Boalties? Did it / will it reduce the number of people who ONLY applied to small plaintiffs' side firms? Did / will boutiques not get any attention? What kind of info/data is available on various firm finances? How have firms approached this issue? Is it even being discussed? And how is that going to change over the next couple weeks?

Or is everyone just trying to stay blissfully ignorant about the world that is crashing around them?

Full post as published by Nuts & Boalts on September 15, 2008 (boomark / email).