Wednesday, August 8, 2007

Marty Lipton’s Milkshake Brings all the Fortune 500 Companies to the Yard

It is no secret that powerhouse Wall Street firms are profit driven. Let’s face it, the reason that big firm associates are billing upwards of 3000 hours a year is not because document review is in this fall (More on this later). These days, the bottom line is, as it should be, the motivating factor for all firm decisions. There is, however, one rather puzzling exception.

While I can barely run a small luncheonette in Decatur Georgia, let alone a top tier law firm, I know enough to realize that name recognition reigns supreme. With that said, you would think that the man who invented the poison pill, commands the highest rates in the biz, and can drink Joe Flom under the table, would get top billing. Did we mention that Lipton once whittled a whole canoe out of a large log and proceeding to traverse the entire Erie Canal.

Lipton is the headliner, the frontman if you will. It’s like comparing Mick Jagger to Charlie Watts; Sting to the guy who plays guitar for the Police; Eazy-E to MC Ren. With all due respect to his esteemed colleagues, why Lipton even shares the limelight is beyond me. WLRK should put all of its petty grievances aside and do what is best for the firm: change the name on its door to “the Law Offices of Marty Lipton” or “Marty Lipton and Associates.” Would it hurt to include a sleek “Pill” logo on the firm’s letterhead?

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