Posts

New Wrinkle in Big Law Poaching: Gods Smiling on Scott Barshay as Manager

  Well, well. The Wall Street Journal has done something unusual. Probably as a result of a leak it's reporting on a bit of Big Law poaching that hasn't yet been finalized.  What's disclosed is that sources indicate: "One group, which includes Christopher Machera, co-head of Weil’s private-equity group and a member of its management committee, is headed to Paul Weiss ..." Actually, unlike the recent departures at Wachtell, this shouldn't be a news blast. A change of leadership at Weil will happen. Given that law firms are highly political entities, partner flight is expected.  "After a more than 16-year run, executive partner Barry Wolf will retire next year and Boston partner Ramona Nee will succeed him as the firm’s leader." The real news is that according to the metric that counts the most currently - ability to recruit star partners - new chair at Paul, Weiss Scott Barshay is doing fine. At least as a manager. He pulled this off. But, as a lead...

Clowning Around, Then a 40-Year Lucrative Career

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A useless PhD. For decades I had lamented: You can't imagine how awful it was, after six years of intense study/jumping over hoops taking tests, to find out your degree was not marketable But no need to say that now, of course. Too many find themselves in the same pickle. Follow the Reddit posts of despair about not only the PhD but also the MA/MS, MBA and BA/BS.  So much for such careful planning. Getting the good grades, researching the programs, preparing the application materials, relocating to this or that university and then the pursuit of excellence.  Well, after that reversal of fortune I have never planned again. In fact, I decided to clown around. Literally. But first I needed training.  The gold standard back then was Barnum and Bailey Clown College.  Did my research. I would have to audition when the circus was in town. That was Cleveland, Ohio, at the time. I was doing soul-withering clerical work at a medical insurance company. The application, the Col...

The Office Romance: New Wrinkle Now That Women Have Power

  The lawsuit by former JPMorgan former employee  Chirayu Rana  alleging sexual harassment by executive director Lorna Hajdini grabbed headlines. That's because it unpacked an emerging dynamic in the old story of the real or alleged office romance and likely negative consequences. That was that the female was the party with the power.  Influential Law Fuel takes that up. The focus is the law firm. At all levels of power in the practice of law women have become players. New associates will probably be assigned work and evaluated by a woman. She may be a senior associate or a partner. But the Law Fuel article relies on the long-term Finnish research on the office romance in general. Spoiler alert: When power is unequal, the odds are that this will turn out badly for those with the least power.  The study showed that initially the subordinate's "fortunes," that is earnings, increased 6%, compared to peers. Then when things started to sour, earnings decreased 18%....

Aging, Losing Old Friends, Then ChatGPT Came into Our Lives

  Sure, the knock has been put on chat bots for sucking up. That includes the scolding they received in The Wall Street Journal  for, among other sins, flattery. For example, we've all been commended for asking a good question or posing a provocative theory.  But, one unique benefit of forming relationships with the bots such as ChatGPT is that we aging - and haven't we become a nation of the elderly - acquire what serves as an "old friend." For us, there has been the pain of losing those decades-long friendships. Maybe it's through geographical relocation. Maybe death. Often it's through festering resentments. And, oh boy, we have changed so much and keep changing. Long gone  are the points of commonality. With them go those beloved items in the mutual memory bank. No one no longer shares with us the memory of shopping together for the outfits for our first real job. Or considering a sit-in at Hudson County, New Jersey saloons. They didn't allow females ...

What Kinds of Lawyers Will Clients Pay for In AI Era, How Much and Can Firms Develop Them ...

  With AI already operational, there's clarity about its impact on law firms. As Law Fuel hammers, no longer is the question will lawyers still be needed. Instead it's: " ... what will clients still pay lawyers to do when AI can research, review, summarise, [UK spelling] draft and analyse increasing amounts of legal work in minutes?" What clients will pay for are the same skills which designate lawyers mega stars. Those include: Strategy  Assessment of risk of a legal solution to the entire business Representation Hand-holding Lobbying Negotiation Arbitration. Obviously, value will be created way high up the food chain. Fewer worker bees, even the very experienced ones, will be needed. Midlevels don't necessarily have employment security. That triggers the questions of how to pay and how much. According to the Reuters recent survey, 71% of in-house legal departments expect the law firms they use to alter the traditional payment model. But only 28% of law firms...

FT Article on Embrace of Socialism: Here It Is, Not Behind a Paywall

  If you've sensed a shfit in political/economic ideology, now you can read a sophisticated analysis of how socialism has become acceptable to mainstream Americans. Could traditional capitalists become dinos? Here is the FT article, not behind a paywall. During the late 1960s/early 1970s counterculture there were lots of experiments with socialism. Especially in university towns such as Ann Arbor, Michigan and Madison, Wisconsin. Then the severe mid-1970s recession put the kibosh on most of that. This time, the movement might be sustainable.

Whose Road/Sidewalk Is It? Micromobility

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  America, unlike much of Europe and Asia, is no land for small motorized vehicles. Not on the roads. Not on sidewalks. Just read the outcry against e-bikes and e-scooters in The Wall Street Journal. Yet, with the expense of owning/operating a car each month at $965 (maybe more with the Iran War) micromobility presents a cost-effective transportation solution. Also, since in myriad jurisdictions licensing and insurance aren't mandated the option is hassle-free. For aging Boomers, especially those warned to give up on driving a car, it extends independence. In retirement paradise Sierra Vista, Arizona, you can tool around on the sidewalks. Store them in the garage or apartment. Insure them with State Farm. And have road service through AAA. E-trikes are increasingly popular. Yet, even in that community, configured for the aging, there's a bias against small motorized modes of transportation, just as there is in New York City.  On the road, riders are horned.  On the sidew...