Posts

Delusion: Amy and Nina Rifkind Know Exactly How Grandpa Would Size Up Paul Weiss' Dealmaking with Trump Administration

  In family conflicts inevitable is this: One or more members pipe up with "Grandpa/Grandma would be turning in their graves if they found out you made that decision." That's usually pure staging. But if they really believe that those who had passed over decades ago would object strenuously to a whatever in the present they are delusional. The raw reality is that everything changes. The world changes. The family changes. The individual members change. And if the deceased were alive today they probably would have undergone many a psychic shift as well as transformations in how they used to behave. So, it's a stunner that the granddaughters of the late Judge Simon Rifkind - Amy and Nina - are absolutely certain how that revered figure would size up the deal that current Paul Weiss chair Brad Karp made with the Trump administration.  The two have been busy. They sent a letter  to Karp, essentially saying that, yes, Judge Rifkind would be turning over in his grave. That...
Post a Comment
Read more

Here We Go Again: The New York Times Does Yet Another Long Form on Big Law Associates' Discontent Post-Trump Dealmaking

Image
  The story of the dealmaking with the Trump administration by elite law firms such as Paul Weiss and Skadden has had a longer than usual run on the digital front page of legacy media, in professional anonymous networks and on social media.  Now that the fourth negotiation is over - Milbank agreed to $100 million for pro-bono work - interest is waning. Or should be. The attention should be shifting to the grim disappointment M&A demand has been. That throws shade on the ability of many firms with transactional practices to keep everyone busy.  But, there is The New York Times at it again. It has posted one of those very long-form articles on the crisis that has been analyzed broadly and opined about noisily. The angle is associate discontent about their law firms' decisions. And the question raised is: Will this hurt the recruitment efforts of the firms which negotiated rather than using legal tools, like Perkins Coie has, to fight the administration.  Much of...
Post a Comment
Read more

Mirror Mirror on the Wall: Which Law Firm Is the Shrewdest Dealmaker of Them All?

Image
   Paul Weiss is looking increasingly shrewd, at least when it comes to dealmaking.  Now, three have opted to provide $100 million in pro-bono work to the Trump administration. The most recent is  Milbank.  The other two are Skadden and Willkie. In contrast, when Paul Weiss chair Brad Karp made a pilgrimage via private jet to the oval office, meeting personally with Donald Trump, the law firm got off with agreeing to $40million. Will this kind of track record attract more dealmaking assignments to Paul Weiss? Overall  M&A demand  has been disappointing for many firms. Transactional in general hasn't been going gangbusters either for a number of firms. Karp says Paul Weiss is busy. During Q1, for instance, it handled two major transactions for Rocket Cos. As a coach/tarot-reader, I'm asked: Do I see layoffs ahead in Big Law? Answer: Not right now. But if M&A demand remains low and the global economy worsens, there could be RIFs as well as stealt...
Post a Comment
Read more

First Skadden, Now Willkie Pony up $100 Million in Pro-Bono - Paul Weiss 60% Less, Should Brad Karp Be Dealmaker of the Year

  Breaking News. The Willkie law firm , where Kamala Harris' husband Doug Emhoff got a job, cut a deal with the Trump administration. Like Skadden it seemed to be facing an Executive Order and chose to head it off. And like Skadden it agreed to the $100 million in pro-bono work that the administration approves. In contrast, Paul Weiss, which was actually hit with an EO, only negotiated $40 million in pro-bono assignments. Do the math. That's 60% less. Should its chair Brad Karp who hopped a private jet and sat in the Oval Office with Donald Trump for three hours be designated Dealmaker of the Year? UPDATE:  To head off an EO, Milbank has also cut a deal with the Trump administration. That includes $100 million in pro-bono work. Need help sorting out how to make a living? Complimentary consultation with intuitive coach Jane Genova (text 203-468-8579, email janegenova374@gmail.com).
Post a Comment
Read more

PR Drama Escalates at Skadden - 3rd Associate Quits, Georgetown Law Group Snubs Recruiting Event, Internal Movement Among Associates Not to Participate in Recruiting

  Not long ago CMO at Paul Weiss Luke Ferrandino switched teams and went to work in a new position but titled "CMO," at Skadden. Maybe he should have stayed put.  Paul Weiss seems to be recovering nicely from the PR fallout after dealmaking with the Trump administration. It even put up again on its website the material for Center to Combat Hate . Who knows, its chair Brad Karp may return to being in the front lines of social justice initiatives. The link to the Pivot podcast in which he is saluted as a change agent might even go up again on the website too. Saint Brad can circle back to his comfort zone of social justice.  In contrast, the PR nightmare darkens at Ferrandino's new home Skadden. After the litigation associates were treated to a supposed calming-down session Monday about Skadden's values, associate Thomas Sipp quit.  He's the third associate to exit in response to how Skadden's handling the Trump administration. And Sipp did that with a Norma Ra...
Post a Comment
Read more

Collective Action By Skadden Associates - But, Will It Throw Shade on Associate Reputations and Be Effective as Resistance Strategy?

  Around Skadden there's a campaign struggling to get traction : Associates are being encouraged to opt out of all those events to recruit new lawyers to the firm. Having junior lawyers in the recruiting outreach is important because it's assumed they will be straightforward with applicants, as opposed to receiving some hardened party line from partners.  How would this be accomplished? As part of a collective action, associates wouldn't respond to calendar prompts to participate in recruitment.  The thinking is: Hey, this won't damage client work so it won't throw shade on my reputation and therefore won't move the dial on being forced out the door. But is that assumption aligned with the law-firm power structure? In such a top-down system all associate actions are under close scrutiny and open to assessment by both senior associates and partners. Not being enthusiastic about recruiting could ding you. For that reason, I don't anticipate too many associates...
Post a Comment
Read more

It's Back on Paul Weiss Website: Center to Combat Hate

  Does this mean Paul Weiss is back, that is as having confidence in itself as a social-justice change agent? Some might assume that had been knocked out of it when the Trump administration targeted it and then issued that Executive Order. The "this" is this: Paul Weiss has put up again on its website The Center to Combat Hate. Click on it here. What further ground will Paul Weiss reclaim in social activism? Keep monitoring the website. Need help sorting out how to make a living? Complimentary consultation with intuitive coach Jane Genova (text 203-468-8579, email janegenova374@gmail.com).  
Post a Comment
Read more