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What's spookey is that the levels of unemployment we are forcasted to see by the end of year will exceed those that we saw with the last downturn -- and those happened at the END of the little recession not the beginning.
I personally know of a dozen or so people who have been laid off recently in tech, and now that is starting to extend into Europe.
It disheartens me to find out recently several of my friends were laid off, this includes government jobs as well - that of several police dept. that stopped hiring although they may have up to 6 vacant position at a time when we need more police officers on the street. As I travel the country I notice that the economic situation is not going to turn around anytime soon ... well gas prices are more affordable, housing is more affordable but wages can't keep up with that of budget cuts and layoffs, not just in Indiana and Tennessee but also that in California and New York. The middle-American thus has less purchasing power and so does "95%" of America. The next time you purchase an American flag, look at the sticker closely, it says "Made in China" - an irony that America is made in China. Furthermore imagine the credit crisis recently and the 700+ billion bailout, because some things were too expensive, loans were issued and a phony, convoluted market of "products" aka commercial paper was created based on those loans backed by money that doesn't exist - money that people don't have.
Colorado's economy generally lags a year behind that of the nation, thus places like Michigan may have been his the hardest this summer, Colorado's downturn is really only beginning. I think the best advice may come from that of the richest man on the planet, "be fearful when others are greedy and greedy when others are fearful". Buffet suggests that he is investing American and in it for the long haul. And that of Greenspan predicts the economy to turn around and make our financial markets more sound. The question is when, most likely not until AFTER 12/31/2011 - Keep your eggs in the basket for a rainy day.
I'm definitely not an expert on the subject, but one of the reasons we decided we wanted to live in Colorado (well, specifically the Denver area...not Grand Junction) was because of the very profitable oil/gas e&p business there...Houston use to be the epicenter of that, but it seems to us (my DH has worked in that field for 18 years) that Denver is giving Houston a run for his money. We decided at the beginning of the summer that we wanted to live in Denver. We started applying to positions on Monster, and sent out some unsolicited resumes, and DH was offered a very well-paying position in Denver (and two other companies were pursuing him when he accepted the offer). We realize we are very lucky in this economy, but we also like to think that his choice of career, his education and his experience had a great deal to do with it.
University of Colorado Denver
Special Report for University of Colorado Denver Faculty and Staff
October 1, 2008
To the University of Colorado Denver Community,
There are many questions within our community in regard to recent announcements from Governor Bill Ritter regarding the state of Colorado’s budget picture and the announced state hiring freeze. It is important to remember that the economic picture continues to evolve daily and it is difficult to predict the future in these tumultuous times. We can, however, prepare for a potential downturn in the economy and state funding by redoubling our efforts to be good stewards of public monies.
As outlined in the communication from President Bruce Benson on Friday, September 26, 2008, the University of Colorado will continue its practice of carefully evaluating all hiring decisions. As part of this evaluation, the university will add an additional level of review in the hiring process to ensure all state-funded positions are assessed in the context of the current economic climate.
University of Colorado Denver will implement the additional level review only for state-funded positions. Processes on the Downtown Campus, which has a centralized budgeting model, are different from those on the Anschutz Medical Campus, where schools and colleges have a decentralized system. Effective immediately, all requests to announce positions, make offers of employment, or provide promotions for permanent, State funded (fully or partially funded) Classified, Officer or Exempt Professional, and Faculty positions require the following additional level of approval.
Positions at the Schools/College at the Anschutz Medical Campus require approval by the Dean and School/College Chief Financial Officer.
Positions at the Schools and Colleges at the Downtown Campus require approval by the Dean and the Vice Chancellor for Administration and Finance.
For administrative areas in Health Affairs, Research, Academic and Student Affairs, External Affairs, and Advancement units, approval by the Vice Chancellor over the respective area and Vice Chancellor for Administration and Finance is required.
For Central Services and Administration, approval of the Vice Chancellor for Administration and Finance and the Provost is required.
Some general guidelines for decisions to fill State funded positions include:
· Is the position essential to the functioning of the unit?
· Are non-State funds available for supporting the position?
· Does the individual unit have the ability to cover a shortfall in state funding should a mid-year rescission occur?
As Human Resources receives requests for action, the approvers identified above will be notified daily via e-mail. Individuals involved in the additional approval are asked to respond to the requester within two days in order to ensure a timely process. Thank you for following this new policy during these challenging economic times.
Hi Wanttomoveeast-I am an attorney in the Boston area and my husband may be relocated to Denver. Could you give me any information about practicing out there? I have lived and practiced here for my whole life, have a great job with the state right now and am very wary of beginning anew in a different state. We just finished a training with some Colorado Judges and Attorneys and it was interesting but sounds really very different than practice here-we use common law and not the federal rules of evidence for example. any thoughts would be appreciated!
Foppy: Common law huh? Must be an eastern thing. Here the rules are the rules for the most part. Common law is rarely argued and hard to use. No way are you going to be able to use common law vs. federal/state for evidence (criminal or civil) I'm not an attorney, but work with them and have worked with them forever! lol. Also, I'm in the civil realm and you didn't mention whether you were criminal or civil, so all of what I have to say involves the civil sector.
I know that practicing here is highly competitive, and I speak from the private arena only, I do not know about govt. The firm I'm with mostly only hires ivy league and top students. It's one of the better firms. There are tons of smaller/lesser known firms, but the pay, benefits and atmosphere are most definitely lacking. **If you want to know what I mean by great pay, IM me for details.
It's kind of hit and miss; I know of some smaller/lesser known firms that are known for great pay, benefits and atmosphere (there are just a few mostly black firms, hispanic, etc.). A lot of them are trying for the diversity card, but since Denver is not hugely diverse (in ethnicity levels), you won't see tons of diversity in the firms. My firm is large and we only have a few blacks (incl. myself) as well as other ethnicities.
As far as you getting good work, that would depend on your level of experience (with private firms and in your field), class level/grades, and sometimes which school you went to. Whether you are a lateral hire, of counsel or associate (depending on your yr.) will play a big part in your pay/benefits. Denver is small, so many people get in to good firms because of who they know. I suppose my suggestion would be to start applying while in Boston, then join as many law groups out here as possible, especially within your field (i.e. Rocky Mtn. Estate Planning Council).
Also, of note, with the economy, many private firms are trimming the fat, letting useless persons go (in administration) and not hiring attorneys as actively.
Does this help answer your question?
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