Gus Paloian Quoted in BusinessWeek Online (also posted on MSNBC.com)
"Recession? Not for These Businesses"

Gus Paloian was quoted in the article, "Recession? Not for These Businesses,” which appeared in the January 17, 2009 edition of BusinessWeek Online. The article also ran on MSNBC.com. The article discussed how the economic downturn is stimulating sections of the economy that run counter to such economic cycles. According to the article, "health-care employment rose by 372,000 workers in 2008 while the unemployment rate hit 7.2%, or 11.1 million people. Discount chains such as Dollar Tree (DLTR) and Family Dollar Stores (FDO) now attract customers from up-market retailers. The same goes for travel…" Another area booming is law. Gus, who is chair of the firm's Bankruptcy, Workouts & Business Reorganization Practice Group, said, "We don't like to brag about it but the [filing] rate is astronomical." The article noted that three years ago, Seyfarth started hiring lateral attorneys and attorneys fresh out of law school in order to cope with an influx of real estate-related bankruptcy cases. Since then, the expanding file of clients includes lending agencies, retail companies, biofuel producers, manufacturers, auto-parts suppliers, and the casino industry. Gus continued, "We're seeing problems in virtually all segments of the economy," and he doesn't foresee a dry spell in his practice group for some time.