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First-Year Associates Making $160,000
This blog often writes about big law lawyers getting laid off, and while it's important to remember the economy is hurting highly skilled white collar labor -- it's not all about lost manufacturing jobs -- some perspective can be helpful. Above the Law has a memo from firm Orrick, Herrington and Sutcliffe detailing total compensation paid to associates at the firm as compared to their competitors. And in short, before getting laid off, big law lawyers were making bank. (When reading the numbers, consider that the most recent census data available show the average salary in Manhattan -- the place legal compensation is generally highest -- was $79,500. And that average is surely much higher than the median wage, a more relevant number to most workers, given the big law and Wall Street salaries on the high end.)

Continue reading Latest Legal News: First-Year Associates Paid $160,000

Latest Legal News: First-Year Associates Paid $160,000 originally appeared on DailyFinance on Thu, 11 Feb 2010 19:45:00.

Filed Under: Economy

A new car should be free from defects, and the Massachusetts lemon law protects car buyers from being stuck with a car they just bought that doesn't work properly.

Google has acquired Aardvark, a search startup founded by former Googlers, for a reported $50 million. Aardvark is a social-search engine that allows users to ask questions of their friends and friends' networks, and receive quick responses.

Continue reading Google Buys Search Startup Aardvark While Microsoft's Bing Gains

Google Buys Search Startup Aardvark While Microsoft's Bing Gains originally appeared on DailyFinance on Thu, 11 Feb 2010 18:00:00.

Filed Under: Google , Microsoft, Yahoo

The number of unauthorized people living in the U.S. fell for a second straight year to 10.8 million between January 2008 and January 2009. The reason for the decline is simple: fewer jobs. The tricky part is bringing those who remain out from the underground.

Continue reading Is the Best Way to Fight Illegal Immigration to Do Very Little?

Is the Best Way to Fight Illegal Immigration to Do Very Little? originally appeared on DailyFinance on Thu, 11 Feb 2010 17:45:00.

Filed Under: Economy, People

On Thursday, Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa) laid out details for a bipartisan, $85 billion plan to spur job creation. But Reid slimmed it down to four main provisions in an effort to speed passage of the much-needed legislation.

Continue reading Harry Reid Puts the Senate Jobs Bill on a Diet

Harry Reid Puts the Senate Jobs Bill on a Diet originally appeared on DailyFinance on Thu, 11 Feb 2010 17:30:00.

Filed Under: Economy, Careers

Pharmaceuticals are beginning realize that the future of health care will be wireless, consumer-centric and tech-driven. If they plan to succeed in the new world of medicine, they will need to start working with IT companies, retailers, telecoms and mobile-phone networks.

Continue reading Pharma 3.0: Drug Companies Slowly Adapt to the New Tech World

Pharma 3.0: Drug Companies Slowly Adapt to the New Tech World originally appeared on DailyFinance on Thu, 11 Feb 2010 16:51:00.

Filed Under: Technology, Healthcare, Google , Johnson & Johnson, Apple, AT&T, Verizon, Novartis

A new report on the Great Recession's impact on employment suggests that higher-paid workers have enjoyed practically full employment while the lowest-paid have suffered through an unemployment rate above 30%.

Continue reading Recession Hammers Low-Wage Workers, but Glances Off the Affluent

Recession Hammers Low-Wage Workers, but Glances Off the Affluent originally appeared on DailyFinance on Thu, 11 Feb 2010 16:40:00.

Filed Under: Economy

Hooters, the Atlanta-based restaurant chain that is known for making a work uniform out of Daisy Duke-shorts and low-cut t-shirts, may be on the selling block as a result of a family feud.

Continue reading Hardship at Hooters: Family Feud Drives CEO to Seek Investment Partners

Hardship at Hooters: Family Feud Drives CEO to Seek Investment Partners originally appeared on DailyFinance on Thu, 11 Feb 2010 16:30:00.

Filed Under: Company News, People, Media

Whether it is renewing insurance, shopping for groceries or even signing up to a magazine subscription, cashback sites offer online shoppers cash back on anything.

Viacom demonstrated the power of cost-cutting Thursday when it reported fourth-quarter and year-end earnings. Despite a continuing swoon in ad revenues and disappointing video game sales, it posted a fourth-quarter profit of $694 million, more than quadruple what it earned the year before.

Continue reading Viacom Reports Strong Profits Despite Soft Ad and Game Sales

Viacom Reports Strong Profits Despite Soft Ad and Game Sales originally appeared on DailyFinance on Thu, 11 Feb 2010 15:09:00.

Filed Under: Earnings, Media, Viacom