Home

Former Dewey Partner Says ‘Leverage is Dangerous’
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Prior to the collapse of law firm Dewey & LeBoeuf, the firm used pay guarantees to attract and keep star lawyers while also expanding using mergers and lateral hires. A result of this method by the firm caused a strain between the superstar lawyers and the partners who were stuck working in the mud. Observers of the firm’s operations claim that the methods employed by the firm “destroyed the fabric of a law firm partnership, where a shared sense of purpose once created willingness to weather difficult times.”

Those same observers claim that the methods used by Dewey are not uncommon to the rest of the world as other firms set the goal of large growth by offering massive payment packages to possible employees. “Many large firms have discarded the traditional notions of partnership—loyalty, collegiality, a sense of equality,” DealBook, The New York Times blog, says. On the other hand, the firms have “transformed themselves into bottom-line, profit-maximizing businesses.”

  
What
Where


Martin Bienenstock, a bankruptcy lawyer who left Dewey for Proskauer Rose earlier in May, said the following about the problems at Dewey: “I think there’s an overall lesson for law firms that leverage is dangerous. I think you just can’t take leverage lightly in a business where your most valuable assets go home every night.”



 

RELEVANT JOBS

Staff Attorney

USA-VA-Fairfax

The Staff Attorney is responsible for managing the Fund’s delinquent contribution and withdraw...

Apply now

Associate Attorney

USA-TX-Sugar Land

Civil Litigation Firm in Sugar Land, TX. is seeking an attorney with 2 - 5 years litigation exp...

Apply now

Second Year Litigation Attorney

USA-CA-Sacramento

SECOND YEAR LITIGATION ATTORNEY   Cook Brown, LLP, a Sacramento boutique labor & employme...

Apply now

Associate Attorney - New Orleans

USA-LA-New Orleans

Slocumb Law Firm, LLC, is a national personal injury law firm. This is an excellent opportunity for ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Personal Injury Litigator

USA-VA-Fairfax

Northern Virginia office of our client is seeking a personal injury litigator with 4+ years of stron...

Apply Now

Associate Attorney

USA-CA-Larkspur

Larkspur office of our client seeks an associate attorney with 4-6 years of experience/background pr...

Apply Now

Associate Attorney

USA-MI-Bloomfield Hills

Bloomfield Hills office of a BCG Attorney Search Top Ranked Law Firm seeks an associate attorney wit...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top