We were right to panic that the bounce our business has been getting from the 2% growth in GDP could deflate. For example, if the subways flood they could stay out of operation for a month, reports NEW YORK Magazine. That could disrupt the flow of business to law firms from the all-important Wall Street crowd. Investment banks could put elective legal matters on the back burner as they figure out how to get their personnel to the workplace. Backoffice jobs can't be done on a telecommuting basis.
My communications boutique is already down one client, at least temporarily. She traveled out of the country a week ago and sent an email that she can't get back. Sandy stands in the way.
In his interview with BLOOMBERG LAW, Bruce MacEwen of Adam Smith Esq. noted that the legal sector was having a down second half. Sandy could make the results even worse. Those layoffs among associates and partners MacEwen predicts could happen even sooner.