Schnader Chairman Quoted in the Philadelphia Business Journal on the Effects of the Economy on Law Firms

Schnader’s Chairman Ralph Wellington was quoted in the Philadelphia Business Journal article “Local Law Firms Holding Their Own So Far, But Worrying,” which was published in the November 28 – December 4, 2008 edition. The article noted that Philadelphia law firms have not experienced the same severe effects of the troubled economy – including layoffs and cutbacks – as their counterparts in other cities have. However, firm leadership is approaching the coming months with caution. Mr. Wellington noted that Schnader is being more conservative about hiring summer interns for next year. “The dye is cast for 2008 once you are six months through it so the recent crash won’t impact things too much,” he said. “But 2009 is going to be tough.”