RandAlThorStoried Law Firm Pays Brutal Price for Surrendering to Trump
The sweet smell of fucking around and finding out.
Cowards, worms and traitors rotting away.
SeeMarkFlyDon’t work for someone that won’t pay you, even if he says he’s the president of the United States of America.
Especially if he says that.
For the next few YEARS.
jlow (he / him)Yeah, let’s hope you don’t have to make that decades …
His heart won’t make it. UNLESS they give him a new heart.
But then his ankles will give out. UNLESS the install prosthetic leggs.
But by then his brain will be gone. UNLESS a new development in A.I. lets him keep thinking.
We’ll have a 31 Trillion dollar president. Worth every penny that we don’t make anymore.
/s In case The Onion is reading.
halcyoncmdrHere’s the thing, at firms like this, the prestige of being a partner at a firm that’s been around since 1792 is a primary reason for being there. The money is secondary. And being known as the partners that destroyed the oldest firm in NYC, is a dishonor none of them want to be known for. It’s what they’ll be remembered for, not anything else they’ve done.
Two options really…
Then why did they do it?
That the question.
Who wants that for such a law firm? Who wants to work for such a firm?
They didn’t think ahead or the consequences of their action. Wildly lucrative institutions don’t sell themselves off to competitors.
Any assumption that it was crazy lucrative is based on a need for things to make sense.
No, no - the sale wasn't crazy lucrative for the firm, it was crazy lucrative for the partners who sold it off.
That’s not how law firms work and not how this merger is structured. This at best a lateral move, with increased earning potential in comparison to what was possible in a firm bleeding lawyers and client.
There is nothing “crazy lucrative” about this. I don’t understand how you are coming to that beside mistaking this for something like a corporation selling itself for cash or stock.
Regardless of how it's structured, the partners at Cadwalader have to be walking away with a lot of money from the deal.
A year ago that firm would have been worth hundreds of millions of dollars, at the moment it’s a fire sale. They’re almost surely losing millions on the deal.
They’re leaving basically with whatever they were already paid as a partner for the years they were there. Law firms don’t operate like or pay like traditional businesses. Partners at firms like this almost always have to be offered a partnership, and buy their way in. Some partnerships at prestigious firms can have buy-in fees upwards of a million dollars.
The partners then are paid a percentage of the business, depending on seniority and managing status. If there is no business, there is no pay. If the firm goes under, or is bought out, there is little pay because the firm isn’t worth much, if anything.
They’re basically leaving with what they’ve already squirreled away and not spent with potentially lavish lifestyles over the years.
also the fact that some firms have a pipeline with law schools , it hurts them in other ways too if they have been reputation of brownosing for trump.
Yeah, they fully nuked their reputation, and that’s part of what this fallout is. Not only did they hemorrhage attorneys as a result of this idiocy, but also, nobody wants to work for them or hire them. You can see the problem that creates.
The problem with selling your soul for something, as I’m hoping all these fucks find out, is that one day you wake up with neither your soul nor the thing you sold it for
Who wants to hire a lawyer that gives up the instant they’re pressured? They’re cowards and deserve to lose their business.
yea MS and disney both dropped them, or another firm that immediately rolled over for trump this year.
Do I miss the “brutal” price they paid? I mean, they’re merging with another firm to form a massive one. The managing partners will be managing partners at the new super-firm. So, where’s the price?
sigmaklimgrindsetI think “the price” is some sort of loss of prestige from it’s feeder schools and cultural capital after offering pro bono work to Trump. I know they lost a bunch of their top associates (really good ones too, apparently) but I heard from a friend who goes to Princeton that a lot of the law students didn’t even want to article there anymore. I’m assuming it’s the same for other big law schools, especially Harvard Law after Trump basically put a target on their backs.
Cadwalader is like the oldest law firm in NYC, the “Taft” in the name comes from President Taft’s brother Henry Taft. From what I understand from my friend (and her associates), it’s actually crazy that they’re merging with another legal entity.
the new firm would likely suffer the same fate if they rolled over for trump, it would be stupid for them to do that.
remember that any lawyers that are part of a law firm, has to resign thier position in order to work with TRUMP in order to reduce liability/reputaiton that would hurt the firm, because trump is very vexacious litigious and doesnt like paying lawyer fees.
Bricriu
phoenixariseLawyers of all people should have known better. Love this for them.