peHUB Second Opinion 8.27

Law Firms Not Hiring: This fall, law students are competing for half as many openings at big firms as they were last year in what is shaping up to be the most wrenching job search season in over 50 years. (NY Times)

But Hedge Funds Are: “As returns have improved and redemptions slowed, some funds have grown confident enough about attractive investment opportunities to take on staff, particularly marketing executives to help lure back assets, operations staff and fund managers in popular strategies.” (Reuters)

Q&A: AIG’s stock shot up today on the Reuters story that the firm’s new CEO has reached out to former CEO Hank Greenberg. The three-hour interview with Benmosche is posted: (Reuters)

Via Abnormal Returns: Blackstone Group (BX) has become the leading manager of hedge fund of funds.  (NY Post)

Just For Fun: It’s summer. Things are slow. Today Gizmodo posted photos of ten very impressive/disgusting structures made of meat, courtesy of the popular blog, This Is Why You’re Fat. (Gizmodo)

PE Groveling: Still unsatisfied with the loosened FDIC rules, Wilbur Ross goes on the record with his take for a nice long interview with Reuters. (Reuters)

In Other News: Watch your back! Ben Bernanke has become the victim of identity fraud. (Newsweek)

BusinessWeek Asks: Is CEO pay still out of sync?  (BW)