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The Great Divide: So, How Do You Feel about Brad Karp?

Larry Summers Leon Black  Kathy Ruemmler. The feeling is almost universal: They got what they deserve.  In contrast, there's the great divide in the legal sector and more how humans feel about Brad Karp, superstar lawyer and former chair of elite Paul, Weiss.  Today, on Substack there's a conversation between two legal journalists Vivia Chen and David Lat about that binary situation. Like myself they have been obsessive in covering what the Epstein Files have disclosed about Karp's relationship with monster Jeffrey Epstein, the internal coup which stripped him of his chairmanship title and his current state of being. As so many know, there are those who are outraged that Karp, unlike Summers and Ruemmler, still has a job. Essentially they perceive that as a continuity of the abuse of power that the Epstein loopings were all about. If Karp didn't control about a nine-figure book of business, so goes the thinking, he would have been purged. Shame on Paul, Weiss for its m...

Nothing Fails Like Success: The NFL, Big Law and More

Here we are in the volatile and uncertain 2026. We wonder what - be it a dominant institution or powerful individual - will survive for the next 10, 20 or 30 years.  Back in the early 1980s some management consultants looked into that and became famous. Who in business doesn't know the name Tom Peters. They published their findings as the book "In Search of Excellence."  Among the companies which didn't make it was Wang Laboratories (it remained a closed system, sticking with stand-alone word processing as the world was moving toward PC). On a downward trajectory was IBM (which only recently regained its former aura). To duck that fate, the consultants mandated sticking to the knitting, staying close to the customer, being values-oriented and more. Well, more recently Chuck Klosterman has applied that age-old reality - nothing fails like success - to the NFL. In his provocative book "Football" he explains how the business will sour.  The drivers range from...

Career Planning/Resets: Don't Enter Field Where You Can't Star, Good-Enough No Longer Allowed

  Work has become one-dimensional. At least if you want to get in, stay in and maybe move on up. It's all about stardom, that is being an extraordinary performer.  Have doubts? Just take the direction of AI. Who's hired, whose kept on, who gets the stock options are those heavyhitters who can handle the strategy, oversee the bots and edit. BusinessInsider chronicles this development. It extends from tech to sales.   "Workers who are decent at their jobs — but not superstars — are facing a tougher slog in industries like tech, where employers have the upper hand, and AI threatens to automate their roles." It used to be, of course, that the world of work was binary. There were the stars and the good-enoughs. The former got to the top. The latter were able to survive if they didn't mess up politically. The dawn of the star paradigm was outlined by litigation star at elite Paul, Weiss Brad Karp back in 2021. In an interview with Bloomberg Law Karp hammered how the b...

Crazy Times: You Need to Be Liked

  Some who have lost traction because of the Epstein Files have a next.  They will have to lay low, do good works and then orchestrate a credible reset. They are likable.  As Hedrick Smith hammered in his iconic book "The Power Game," likability is a force field. It allows power players to get significant things done, usually without a lot of heavy lifting. Among those with a future, despite Epstein fallout, probably include former US President Bill Clinton, former leader at law firm Paul, Weiss Brad Karp and Yale professor Dale Gelerneter who was a victim of the unabomber.  Others in this volatile economy, driven by technology, should pay attention to the Likability Score. During the depths of The Great Depression Dale Carnegie was saluted as a genius in human relations. He systematized the fundamentals of how to be liked. First in the courses he taught at the Y, then in his bestseller right up to current times "How to Win Friends and Influence People"  Carneg...

Goldman Sachs Keeps Bungling Crisis Management: Shareholder Revolt about Secret Service Prostitution Scandal and Advice Sought from Jeffrey Epstein?

  Sure, the glory days of public relations are over. But brand equity still counts a lot. And the value of that should be eroding at Goldman Sachs, all-too-loyal to its top lawyer Kathy Ruemmler. Shareholders push-back , among other pressure points, has already triggered her stepping down. But she's been allowed a genteel exit. That includes staying on the job until June 30, 2026. There was also the gush by the institution's CEO David Solomon in the official announcement. But, now that nicely positioned and packaged soft landing should be blown up. Ruemmler should be sent packing now. And what about implications for compensation, including stock options? That is, if Goldman Sachs wants to remain credible to its constituents, especially shareholders. Today the stock price is down 13.22 (11:30 AM ET). The latest and perhaps most damning snippet from the Epstein Files is what was just made public: Ruemmler's handling of non-public information back in 2012. It was related to t...

Andrew Windsor's Arrest Deepens Epstein Fallout: America Could Be Pressured to Legal Action, More Intense Vetting

 The Department of Justice announced all the Epstein Files had been released. Whether the public believed that or not was irrelevant. It signaled that the fallout from those disclosures had peaked and those in the loop could move on to reputational repair. And their next. At Goldman Sachs top lawyer Kathy Ruemmler, after announcing she was stepping down, is reported to have hired a crisis-management firm. Look to the future ... But the heat has been turned back up. And in a different way: The focus on the identified "miscreants" be considered for legal action. Moreover, the whole influence dynamic - who opens doors for whom - could be subjected to greater scrutiny. Was well-connected Ruemmler properly vetted before being hired by the finance giant?  The game-changer is th e arrest of former Prince Andrew for alleged wrongdoing while in public office. In my coaching the fear is damage to the brandname of the individual and the institution. Not legal action. Usually that issue ...

BoomerVille: Moving in the Right Direction, But ...

  But, will Congress save our monthly Social Security payment from a 20% cut in six years? Can anyone envision the profound financial suffering that would inflict? Dow Jones Industrial Average Index Index: DJI Compare 49,809.74 USD ▲  +276.55 (+0.56%) today February 18, 10:02 AM EST  ·  Market Open