Large law firms cutting pay for first-year attorneys (Chicago Tribune)
McGuireWoods LLP confirmed Monday that it will cut pay for first-year attorneys by 10 percent. In its Chicago office, the class of 2009 will make $144,000, down from $160,000. Other firms are expected to follow suit.In Baltimore, Richmond and other smaller markets, McGuireWoods cut first-year pay to $130,500 from $145,000.
No cuts, but no raises, in proposed Henrico budget (Times-Dispatch)
Despite stinging cuts in state payments, sagging real estate and vehicle values — the source of most of the county’s tax revenue — County Manager Virgil R. Hazelett expects to get through one of the worst economic slowdowns in decades without any cuts in services and without laying off employees.
Developer could pay billions for local ports (Daily Press)
A Chicago-area developer is preparing to submit a formal offer this week to purchase the operating rights of the state-owned marine cargo terminals of the Virginia Port Authority, several local officials told the Daily Press on Tuesday.
Plastic Surgery Confidential (Vanity Fair)
Editor’s Pick: Cosmetic surgery is now so popular that even young, healthy, attractive women are choosing to be “enhanced.” In a quest for insight into this $13 billion industry, the author—a five-foot-nine, 120-pound 27-year-old—went undercover, asking three plastic surgeons what they’d do to her nose, her breasts, and her, uh, “banana rolls.” The answers were as different as the doctors themselves.
Urban areas see revival in housing construction (USA Today)
A substantial amount of housing built this decade has shifted from open fields on the edges of suburbia to dense central cities and their nearby suburbs, a new government study suggests.
Bernard Madoff: The Villain America Needed (Slate)
We needed to be united, Bernie, and without you we wouldn’t have been. The real cause of our financial meltdown is too nuanced, too impossible to cause total agreement across the country. You, however, were different. You gave us an easy target—a man who was selfish, greedy, and indiscriminate in his destruction. You offered an outlet for our frustration, and now your life sentence gives us a small piece of justice to cling to in these dark, hopeless days of the recession.
Top 10 Reasons to Start a Business in a Recession (Entrepreneur)
More publicity. Less competition. Talent waiting to be scooped up. Here’s why starting in a recessed economy may give your business a better shot.