It has definitely been a tumultuous week in the financial markets with the Lehman Brothers collapse, the AIG bailout, the Dow Jones’ roller coaster ride and the largest proposed government bailout in our country’s history. The credit crunch is affecting all aspects of our economy, including the legal industry as demonstrated by the official news that Heller Ehrman’s partnership will be voting tomorrow to dissolve.

While I know this is easier said than done, try not to overanalyze every aspect of your firm to determine whether or not it will be the next to fall to a similar fate. Many firms continue to be busy, and several are hiring in numerous practice areas. The likelihood that your firm will be next in line is very small. While these are very scary economic times, the worst thing we can all do right now is panic. So, take a deep breath and try not to be a chicken little.

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