Tuesday, July 10, 2012

MOAR Money!

There's so much stupid sh*t going on in this presTTTigious "profession" that I gave up trying to follow it, let alone post about it. Talking about not even trying any more, today's subject is Boston University's BosTTTon UniversiTTTy's new online Tax LLM. Even dry tax blogger Paul Caron noted, "Interestingly, tuition and fees for the online program will be higher than for the residential program: $44,712 v. $44,212."


First, a word about BU. The law school hired 22 percent of its own graduates last year. With this record of suck-cess, why hide BU's light under a barrel when it can roll its brand out into new markets? And charge more to sit at your desk than its own?

Another word about BU: When it issues your LLM, is the diploma going to say either New York University or University of Florida? No? Then why the f*ck would you ever spend your own money on it? Those are the only schools that count, and NYU can even sometimes erase the stench of a prole JD.

What we have here is an unabashed money grab, presumably aimed at foreigners and the credulous. Looks like the law school scam is moving upmarket as disclosure requirements and bad publicity reduce the cash that can be extracted from aimless liberal arts grads.

Saturday, July 7, 2012

Law School DeaTTTh LisTTT

A couple of scambloggers are speculating on the next school to follow Texas Wesleyan into the abyss. The criteria are the school either has to fold outright or be acquired by another educational institution. I'd like to add my own criterion that no one will miss it when it's gone.

If you guess right, you win a Kindle.

BIDER has a number of good guesses. Rutgers-Camden is in a death spiral — hopefully, it will take Rutgers-Newark with it — and Hamline is in a small, crowded market where even the University of Minnesota founders. My own guess is TJSL, based on it being a relatively new, independent law school with an expensive campus. Add bad PR and an abysmal bar passage rate and you have a winner.

Friday, July 6, 2012

June 2012

The legal industry added 200 jobs last month. The problem remains that the number of heavily-indebted JDs far exceeds job openings. As I noted in June, growth over the last two years has been negligible. Meanwhile, 45,000 JDs pour into the market each year to compete with both their own cohort and their predecessors.

The overall economy sucks, adding just 80,000 jobs. My employer's industry is sensitive to the jobless rate and my seat-of-the-pants impression in our markets is things are not getting better.


Not seasonally adjustedJune20111,123,700
Seasonally adjustedJune20111,111,200
Change from May-12 to