Paul, Weiss: A Very Bad Year of Reputational Hits, Lawyer Flight, Recruitment Uncertainty

 There's the old joke about becoming partner at a law firm. It's like a pie-eating contest. That's how you get there. And winners get to eat more and more pie.

Well, after taking part in the coup at Paul, Weiss which landed him the job of chair Scott Barshay gets piled on to his practice pressures leading a law firm in crisis. 

That crisis has been going on for a year, ever since March 20th when the deal with the Trump administration was announced in order to lift an Executive Order. It was contended that the EO could have put the firm out of business. The terms and conditions involved pro bono assignments. 

In Bloomberg Law, Roy Strom provides the details of that very bad year for Paul, Weiss. Those include:

Reputational hits. Of the nine firms which cut deals with the administration Paul, Weiss was singled out for the worst of criticism. That's because it was the first in and seen as establishing the template for how the EO could be handled via pro bono assignments.

Lawyer flight. In the past 12 months 260 lawyers, both partners and associates, left. That's a 70% increase from the year before.

Recruitment uncertainty. Hiring is down about 25 percent. New law school graduates and junior laterals who have options might opt to take them and snub Paul, Weiss. Could accepting a job at Paul, Weiss hurt your brand equity?

The elephant in the room is this: Can Barshay, whose strength is in rainmaking/practicing law, grow into the role of crisis leader? The guy he toppled - Brad Karp - had an almost mystical ability to navigate the myriad challenges since he took over the chair role in 2008. 

Those began with the global financial collapse. Karp displayed confidence in the future and didn't lay off associates. Then there was COVID. Also there was the pile-on of journalists associated with "The Caesars Palace Coup" and "Servants of the Damned." Then the EO. 

Until the Epstein files fallout Karp seemed to be holding his own, as usual. Then a small group of Paul, Weiss partners who saw themselves as The Deciders made these decisions:

Oust Karp

Bring on Barshay.

If Barshay can't move some needles on the state of crisis he too could go down. He's known as a no-nonsense guy who doesn't suffer fools gladly. Great for getting and doing client work. Not so much for a situation in which the enemies are both internal and external. 

In coaching, I warn clients not to accept supposed plum jobs that could be too much out of their lane.

Success is a mental game. Failure comes from being done in by the “committee” in your head.

Together, we liberate your thinking. Then we change your story. And, unleash success. Meanwhile, we focus on bringing in income. That puts you in a position of strength.

Intuitive Coaching. Special expertise with transitions, becoming a solopreneur and aging. Psychic/tarot readings, upon request. Complimentary consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com). Yes, test out the chemistry. Zero risk.

Don’t give up before the miracle.

 


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