tag:blogger.com,1999:blog-3862216000300765627.post980614065357992084..comments2024-01-16T03:42:46.705-05:00Comments on The Downward Spiral: Dewey & Leboeuf Declares Bankruptcy, Larger Ever U.S. Law Firm CollapseBill Hickshttp://www.blogger.com/profile/17551954408189665078noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3862216000300765627.post-42649300143182691062012-05-30T11:51:30.899-04:002012-05-30T11:51:30.899-04:00Even when you "need" a lawyer, it's ...Even when you "need" a lawyer, it's because some other damned lawyer exist.<br /><br />"The law is an ass." ~Charles DickensAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-26475930421079600962012-05-30T10:42:40.315-04:002012-05-30T10:42:40.315-04:00Yeah, nobody likes lawyers . . . 'till they ne...Yeah, nobody likes lawyers . . . 'till they need one.<br /><br />But your point is well-taken, Bill. Top execs sucking out the life force of an enterprise, then walking away—not to mention $900/hour attorney fees. So many "longest-in-existence" businesses (and events, like the Michigan State Fair) have disappeared in the past five years!Patrickhttps://www.blogger.com/profile/09809202917469138601noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-38083996432130350862012-05-30T09:51:30.469-04:002012-05-30T09:51:30.469-04:00I'm surprised we haven't seen more mega-la...I'm surprised we haven't seen more mega-law firms collapse already. Their business model is totally unsustainable in a contracting global economy. And when they fall, they fall quickly, because there are few to zero assets to sell or pledge. <br /><br />You're right, BH, there's no sympathy for the greedy partners, but there's also many lower-paid and in some cases long-tenured receptionists, paralegals, secretaries and other functionaries who will not get much of a parachute and may struggle to find anything else in this market. <br /><br />The obsolete and dysfunctional legal "industry" is another necrotic sector of our fake economy; it's dying but won't admit that until it's far too late. And this applies to the law schools too, which are run by clueless pampered "academics" (if one is to grant the law the status of authentic intellectual discipline, which it hardly deserves) who for the most part are every bit as craven and narcissistic as the managing partners at Dewey LeBoeuf.~https://www.blogger.com/profile/07775795950513629761noreply@blogger.com