Especially in Texas. It seems that in Texas you can get dis-barred for failing to pay your student loans.
In this attorney's case it was $67,000 worth of debt he was trying to walk away from.
Two things come to mind:
Well, in Tax class we learned that loan forgiveness is actually income so he would have to pay taxes on the $67,000 if he was able to get rid of the debt successfully.
Second, its a pretty bold move to try to grab a little piece of his own "bailout". But it speaks more to his character to follow through on a promise to carry out a contract (his student loan).
Interesting.
RW
Tuesday, April 14, 2009
Monday, April 13, 2009
Sabbaticals in BigLaw?
Big City - Skadden, Arps Offers Lawyer $80,000 to Take a Year Off - NYTimes.com
You may have heard that US firms are having a bit of a tough year.... As a result, many of them are asking their incoming 1st year associates to arrive a little later in 2009, in some cases in 2010 and in others not at all.
One firm, Skadden, Arps, Slate, Meagher & Flom is giving every one of their associates the chance to take the year off and pocket $80,000 for the privilege of not showing up to work.
Sounds like a pretty good deal. Perhaps they should offer this at all firms to stem the layoffs?
On a related note, layoffs are happening in Canada too but not at quite the same pace as below the 49th parallel.
RW
You may have heard that US firms are having a bit of a tough year.... As a result, many of them are asking their incoming 1st year associates to arrive a little later in 2009, in some cases in 2010 and in others not at all.
One firm, Skadden, Arps, Slate, Meagher & Flom is giving every one of their associates the chance to take the year off and pocket $80,000 for the privilege of not showing up to work.
Sounds like a pretty good deal. Perhaps they should offer this at all firms to stem the layoffs?
On a related note, layoffs are happening in Canada too but not at quite the same pace as below the 49th parallel.
RW
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