Law And More

Goldman Sachs Lowers Global Growth Rate - Vaccinations, Mau-Mauing, and 2021 Profiles in Courage

It's global guerrilla warfare.

That's probably the best way to describe the Delta variant.

And because of it, Goldman Sachs has reduced its global growth rate to 6.4%, reports MarketWatch.

That's not all that shabby. But in the long game a higher rate could lift billions of human beings out of poverty. That's the way it goes.

What Goldman Sachs projects would return growth to the fast lane is this: more vaccinations. Meanwhile, the slow acceptance of vaccinations is among the primary factors constraining economic growth.

To use social critic Tom Wolfe's term for senseless protest, there is lots of mau-mauing among thought leaders, politicos and employees about requiring vaccinations.

You know how that goes: In some circles, those mandating the vaccinations have become the bad guys. It's not hyperbolic to compare their situations to those described in "Profiles in Courage" by U.S. President John F. Kennedy. The leaders Kennedy salutes range from John Quincy Adams to Sam Houston. 

At law firms, what leaders are in that courage box? Currently there are five.

They range from David Sanford of Sanford Heisler to Brad Karp of Paul Weiss.

What they risk is not only the mau-mauing. Yeah, they can anticipate leaks of their employee communications to Abovethelaw and Bloomberg Law.

There is also the practical business possibility that associates unhappy with the vax policy could do a lateral to a firm without a mandatory one. Given the overload of work at law firms, the exit of even a small number of associates could be a serious blow to the firm.

Ironically, among the the most prominent in mau-mauing such a Robert Kennedy Jr. are the supposedly progressive. They want a better deal for those at the bottom. As his uncle JFK put it, a rising tide lifts all boats. Vaccinations will make that tide rise, documents Goldman Sachs.

Legal media can create a special category of awards for the Sanfords and the Karps who did what (obviously) had to be done. But is bound to cost them.

UPDATE:

Fried Frank has joined other large law firms in requiring vaccinations when coming into the office. Here are more details from Bloomberg Law.

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BigTech Could Become SmallerTech - Guerrilla War, Bipartisan (twinkle twinkle little stars getting brighter all the time)

Unlike the previous types of push-back against BigTech, the latest initiatives seem to have unusual traction. The objective is this: Break up BigTech, reducing its size, influence, power and hopefully its pricing.

The cause has mutated into sniper guerrilla warfare with bipartisan support. 

Those antitrust warriors are coming locked and loaded. They are aiming their ammo from all directions: litigation by both federal and state governments, Congressional hearings, federal agency reviews of proposed M&A activity, negative press and individual postings on social media about getting screwed. 

But the really provocative part is that this campaign is bipartisan. The Wall Street Journal reports:

"Ken Paxton is an outspoken Texan and Christian conservative who has become a legal champion of the right. Dina Srinivasan is a Bay Area-based independent whose scrutiny of big business has made her a rising star for the left. Despite differing worldviews, they have united against a common enemy: Big Tech."

The elephant in the room on this one, of course, is: Could this common cause reduce the extent of polarization in America? Wars can unite people. Cohesiveness can come from fighting the good cause. 

Meanwhile, new heroes will emerge. 

Paxton and Srinivasan are already antitrust celebrities.

Over in Ohio, attorney general Dave Yost has achieved national recognition. 

Joe Biden's branding as the 21st century Teddy Roosevelt isn't too shabby either. 

The star power of FTC chairperson Lina Kahn, though, has dimmed. Yeah, less is more and she is too more. 

Those on the other side of this fight to keep America safe from antitrust can also play that positioning into a fresh kind of cred.

What about the defense law firms handling the transactions/litigation of BigTech? If they understand the dynamics of issue-based marketing they can pivot every aspect of The Great Cause into platforms for new business development. Hey, look how we're helping BigTech, which has become the underdog. It could happen to you. 

Classic example: At Paul Weiss, chaired by Brad Karp, those lawyers managing the MGM part of the proposed Amazon acquisition (Kahn is a busy bee reviewing it) can roll that over into everything from memorable quotes to the media to thought-leadership articles later landing on those lessons-learned platforms. Especially marketable are contrarian points of view. (The fundamental of that game is to take on hype: Everyone's into wellness, so show the extreme peril of wellness.) Sure, put a knock on competition per se. Showcase alternative ways to operate a blockbuster economy.

In short, war creates opportunities for unique professional advancement. There had been myriad reasons not to Like Ike. But that WW II leader got elected. 

Those on both sides of the antitrust issue should be thinking the long game. BigTech won't become SmallerTech in a year or two years or even three. Microsoft's historic antitrust battle with government consumed 21 years. 

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Apt Cape Cod Restaurant - Hero on Behalf of Employees (some who cried)

The verbal abuse from customers had gone over-the-top.

The tipping point had been the customer who tongue-lashed an employee who informed him that the breakfast takeout was not available because the establishment hadn't opened as yet. 

That was the backstory at Apt Cape Cod in Brewster, Massachusetts, reports The New York Times. Yes, some among the 24 employees had cried.

What the couple who owned the restaurant - Felt and Regina Castellano - did in response was close down the farm-to-table restaurant for a day to nurture their employees. They called Day of Kindness. 

Restaurants in MA reopened on May 29th.  

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Auto Zone, Sierra Vista, AZ - Tim As Hero for SmartCar Owners

The SmartCar, cute as a button, and mega trouble when it comes to getting inside for replacing bulbs for brake lights and turn signals. And, good luck finding a parts place which stocks those kinds of bulbs.

Last night a motorcylist followed me into the parking lot of a shopping center in Sierra Vista, Arizona. "Your left brake light and your left turn signal are out."

End of the world. At least for me. I would have to scout up a place for the bulbs and perhaps another for installation. 

This morning, with heavy heart and no expectation of solving the problem on the first few tries, I pulled into Auto Zone, 812 E. Fry Blvd, here is Sierra Vista. 

Tim the manager listened. He went on the computer to research the part. Then he took his tool kit to the parking lot and did "a feel-around" the slot which was supposed to contain the bulbs for the lefthand side. 

No luck.

He researched the matter.

His hands reached the bulbs.

I stepped on the brake peddle. I did the turn signal. Both worked.

There was no charge for the installation.

So, SmartCar owners (and there are a suprising number of them in this town near the border of Mexico) you know you have friends at Auto Zone. No longer is there need for extreme worry when things go wrong with your tiny little baby which is actually a tiger on the road. Last December my SmartCar got me 2,000+ miles from the midwest to this piece of Paradise.

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Paul Weiss Innovates Fresh Model for Social Justice - Transcending Donations/Pro-Bono As Usual

"[At] Paul Weiss ... Howard is among the top three law schools—along with NYU and Columbia—supplying its summer associates. This year, the firm has nine Howard students in its program—a jaw dropping number for a major firm. It’s noteworthy that the firm is also home to several star Black partners, including former U.S. Attorney General Loretta Lynch, former U.S. Secretary of Homeland Security Jeh Johnson and legend litigator Ted Wells." - Vivia Chen, Bloomberg Law, July 9, 2021.

In addition, Paul Weiss, chaired by Brad Karp, actually is in the trenches of social justice. 

Paul Weiss is not just making hefty donations such as Cravath (Chen takes on Cravath for doing the money part without the rubber-meets-the-road progress in its firm's diversity). Of course, Paul Weiss is no slouch in donations.

It also has made it a new part of its business (and, a result, it reset its branding) to be in the trenches where the victims of all kinds of injustice struggle. Yes, old-fashioned roll-up-your-sleeves. 

Its signature project, symbolizing what Paul Weiss stands for, had been to mobilize thousands of lawyers from other law firms to invent an accessible online tool for COVID victims. In 10 days. They use it to find out what help is available, where and how to get it. That is the Coronavirus Relief Center. Given the Delta variant, it could still be experiencing heavy use. 

On May 27, 2021, Karp announced the collaboration of dozens of law firms to take on antisemitism.

The very nature of that kind of a collective venture on behalf of the powerless represents a new version of social entrepreneurship. At least, as it comes to BigLaw. That transcends most of traditional pro bono outreach by law firms. 

Those institutions which must study the Paul Weiss model for social justice range from philanthropy foundations to gun retail in Sierra Vista, Arizona, which currently finds itself pulled into accountability for both its business and community values.

The innovation in social justice can be more disruptive than what is unleashed by BigTech. 

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Allen Weisselberg - No Play-Out of a Dick Wolf Television Crime Show

"The Manhattan District Attorney's Office is still trying to secure the cooperation of the would-be star witness [Allen Weisselberg] in its criminal investigation into the Trump Organization, according to The New York Times, and weighing whether to bring charges against [him] ... as soon as this summer." - Jacob Shamsian, BusinessInsider, June 16, 2021.

On those Dick Wolf fictional television crime programs, players on the right side of the know exactly what buttons to press to flip suspects. On "Chicago PD," Hank Voigt is a genius at that. The day is saved for truth, justice and the American Way.

Real-life frequently doesn't operate that way.

That's why there is so much to speculate about in the drama going on in the Manhattan District Attorney's office. The issue is: Why hasn't the Trump organization Chief Financial Officer Allen Weisselberg not given the prosecution what it wants?

Here is the spoiler:  If he doesn't flip and if the successor to the current District Attorney Cyrus Vance Jr. isn't interested in "Getting Trump," the investigation can go poof. Weisselberg wouldn't have alienated his boss, can continue serving the Trump organization and smirk about all those threats about going to prison.

However, another theory goes that he is anticipating that he will be presented with a better deal. After all, from his boss he learned plenty about the art of the deal.

Also, there is the possibility that he is so co-dependent that he can't rat out the boss, the man his approval he needs. Overall, we have moved beyond psychobabble, that is doing a Freudian analysis of personalities. However, we can become re-stuck in that when it comes to this CFO. It has been Weisselberg's former daughther-in-law Jennifer who put out there the co-dependency meme. 

Meanwhile, with so much uncertainty back in the economy - the stock market has been down for three days - and the three-digit heat, more and more of us have lost interest in All Things Trump. Do we look forward to seeing Trump in orange? Probably not as much as we crave building our own wealth. 

Vance might have that AhHa Moment that he is no hero to the people. This investigation costs money. Note too that it is receiving less ink in the media.

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Post-COVID, Anthony Fauci, M.D. Under Attack - Will Mission-Driven Professionals Veer Away from Even Being Associated with Public Service?

"Republicans Are One Week Away From Starting a 'Lock Her Up' Chant for Anthony Fauci. Calls for the doctor to be charged with treason probably aren’t far behind, either." - Bess Levin, Vanity Fair, June 4, 2021.

The vilification of the seemingly selfless public servant - Anthony Fauci, M.D. - telegraphs a grim message to non-government professionals who are committed to making a difference. That SOS is: Steer clear of being associated with government and politics. 

Obviously, Fauci will be immersed in unwanted controversy for a long time, perhaps until his death. Depending on who are the ideological winners writing the history of these times, his legacy could be in tatters. Should that play out, the first line of his obituary in The Economist or The Wall Street Journal could lean in negative.

This reversal of branding fortune (at least in some circles) for Fauci could be a deterrent for others who might have been willing to leverage their professional resources, ranging from funding to influence, to do good.

Most of them are not astute politicos like Dentons Chairman Joe Andrew, a former head of the Democratic National Committee. What could be Andrew's signature is his thought-leadership opinion-editorial in The Hill, April 2020 on those who couldn't stay home. Many of them had been at the bottom of the food chain and had to go into the workplace. Then, that was a life and death situation. Incidentally, this month MarketWatch updated that. Currently, only 12% of those w/o a bachelor degree can stay home and earn their living remotely. 

Andrew likely has the experience and natural grit to hold his own no matter the bare-fisted ideological conflict.

Probably also does Paul Weiss Chairperson Brad Karp. His most recent mission has been mobilizing the leaders of other law firms to push back against anti-semitism. In a less polarized time and one in which it wasn't standard to be locked and loaded, that would have been considered one of those right-things-to-do. Nice going, Karp.

Now, it can be interpreted as against whatever - and dangerously so. Since the Karp brand conjures up an aura of progressive causes  I doubt if it is destined to take on the protective coloring of compromised points of views.

But Andrew and Karp may turn out to be exceptions.

Current times have hardened into the kind of personal and professional guerrilla ambushes that can't be predicted. And they can't be fought with conventional weapons. Given that, professionals who could move all kinds of dials maybe will keep their fingers off them.

Meanwhile those of us in social media can wrap Anthony Fauci, M.D. in a mantle of total support.

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"Hot" Austin, TX Police Officers Chandler Carrera and Eduardo Pineda Could Reverse Years of Bad PR for Law Enforcement

Not even the skills of a Dick Wolf-type producer couldn't have created the scene - real-life - which could undo hardened PR critical of local police. 

Scoll down in this Daily Mail coverage. There you will access the video of how two young Austin, Texas police officers freed a man from a burning truck. It was recorded by their bodycam.

Selflessly.

Efficiently.

And with extreme caring.

Those two are Chandler Carrera and Eduardo Pineda. 

The man was backing up his trunk into a parking spot. Because of a medical emergency his foot got stuck on the accelerator. The tires kept spinning. That set off a fire.

Just before the truck exploded, the two officers were able to break the front window and remove the unconscious man from the vehicle. Then the man was transported to the hospital. Unfortunately, his condition isn't good.

The video which telegraphed this message of dedicated public service went viral. Among the viewers who responded there were so many women who let the "hot" officers know that they could rescue them any time.

This one video can in itself rebrand The Police. Now out-of-date could be the image of police as deficient in every human touchpoint.

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Hermit as Hero - Flight from Nuisances and Comforts of Civilization

Some personally remember what could be thought of as "The Fire This Time."

In 1967, urban areas such as Detroit, Michigan and Newark, New Jersey went up in flames. The front lines of those uprisings were alleged to be people of color.

Currently, the insurrections are very different. Instead of fire, there are firearms and bombs. Instead of people of color there allegedly are those championing the white race. Likely more lives will be lost this time around than back in the late 1960s. In addition, there could be greater fear of society unraveling. The veneer of civilization becomes just that - clearly an illusion.

How well the guardians of civilization - law enforcement - can uphold that concept will be on trial during the transition in Administrations. That will be played out both in D.C. and in the states.

What could attract more interest is the saga of a modern-day hermit who turned his back on the nuisances and comforts of civilization. That had been Christopher Knight. His story is told in "The Stranger in the Woods" by Michael Finkel. In 1986, he entered the woods of Maine. Until he was discovered there in 2013, Knight got by without human companionship, a job, medical care or technology. At 133,490, the book remains a best-seller.

More of the wealthy are doing a less radical version of what Knight pulled off. They are pivoting out of sophisticated urban areas and putting together a lifestyle beyond the parameters of what had been considered The Good Life. The New Paradise is a large ranch in Wyoming. Telecommuting makes that more and more possible. 

I found my Eden in the small town on the border of Mexico: Sierra Vista, Arizona. My vehicle had been vandalized in Toledo, Ohio. During the 1967 riots my parents' car had been pelted with rocks. The local police station had been invaded. Fires raged on main streets. 

A liberal arts major (along with picking up advanced degrees in literature and language) I align with the world view of William Shakespeare. He saw mankind as "cankered in the grain." In his tragedies and history dramas he captured that dark side. 

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Lateral Hires: Creating New Version of Haves and Have-Nots in Law Firm Niche

"Through November this year, 1,112 lateral partners joined AmLaw 100 firms, according to data from Leopard Solutions analyzed by Bloomberg Law. That’s down about 30% from the 1,581 partners who made moves during the same time period in 2019." - Roy Strom and Meghan Tribe, Bloomberg Law, December 30, 2020.

But, when it comes to lateral hires, the numbers don't tell the story.

The reality is that in the risk-averse legal sector, those law firms which remained optimistic enough during COVID-29 to do lateral hiring and had the resources have positioned themselves as the new kind of winner.

Those laterals bring with them the potential for significant increases in earnings, edge in new business development, expanded market share, influence and enhancement of the firm's brandname.

Law firms which didn't do those kind of high-profile lateral hirings could be perceived as the new version of have-nots in the law-firm niche. They simply didn't make the right moves at the right times. This could be the classic situation of Use It or Lose It.

Now the elephant in the room is: Why didn't they? What went wrong with the leadership's decision-making? Does this signal a coming downward trajectory for those law firms.

Bloomberg Law provides a list of the key lateral activity in 2020. That includes, of course, Paul Weiss, with its deal-making master chairperson Brad Karp. There were at least three important lateral hires. One had been Robert Hoto from Simpson Thacher. His expertise is tax matters in private equity. The other two had been tech players from Boies Schiller - Karen Dunn and Bill Isaacson. 

What could be going on is a migration in the previously staid field of law-firm leadership and management to what is being called "wartime strategy." In peacetime, it's okay to settle into a status quo. In wartime, the old rules no longer apply. Fresh thinking is mandatory. Some entrepreneurial businesses are embracing that mindset. It had been articulated by Ben Horowitz in his breakthrough essay "The Peacetime V. Wartime CEO." 

Wartime leaders and managers in law firms could be leveraging lateral hiring as a major combat weapon. The competition can find themselves dazed and floundering. And, in this war, the winners take no prisoners.

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