Skadden: Power, Money, and the Rise of a Legal Empire

Overview

In this unprecedented look at the culture of American lawyering, Lincoln Caplan shows us Skadden's origins in the white-shoe postwar legal world and its rise to preeminence in the era of Drexel Burnham Lambert - the firm's largest client in the eighties. Skadden is revealed as a place that prizes opportunists but which also created a $10 million program to support public-interest lawyers. In Caplan's probing and even-handed account, the story of Joe Flom's firm illuminates an ...

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Overview

In this unprecedented look at the culture of American lawyering, Lincoln Caplan shows us Skadden's origins in the white-shoe postwar legal world and its rise to preeminence in the era of Drexel Burnham Lambert - the firm's largest client in the eighties. Skadden is revealed as a place that prizes opportunists but which also created a $10 million program to support public-interest lawyers. In Caplan's probing and even-handed account, the story of Joe Flom's firm illuminates an era in America business and society.

Skadden, Arps, Slate, Meagher, and Flom rode the tidal wave of takeovers in the 1970s and 1980s to become the most profitable law firm in the world, it's partners earning an average of $1 million per year. In Caplan's probing, evenhanded account, the story of Joe Flom's firm illuminates an era in American business and history.

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Editorial Reviews

Publishers Weekly - Publisher's Weekly
For years Joseph Flom, the hard-hitting senior partner of the Manhattan firm Skadden, Arps, Slate, Meagher & Flom, dominated the world's richest law firm with a roster of prestigious international clients. In this revealing in-depth study, written with Skadden's ``sometimes'' cooperation, Caplan ( An Open Adoption ) traces the history of change among postwar legal firms into big businesses often as money-and power-centered as their clients, specializing in corporate mergers, acquisitions and ruthless takeovers. Abetted by the relaxed enforcement of antitrust laws and by deregulation from the 1970s to 1990, Skadden's more than 1000 lawyers, organized on a corporate model, made merger or acquisition deals involving Dupont-Conoco, U.S. Steel-Marathon Oil, and GE-RCA, among others, which the American Bar Association criticized as serving the client's interest rather than the public's. Skadden, the author notes, has weathered the recession with fewer partners and new leadership. 30,000 first printing; author tour. (Nov.)
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Product Details

  • ISBN-13: 9780374524241
  • Publisher: Farrar, Straus and Giroux
  • Publication date: 11/28/1994
  • Pages: 368
  • Sales rank: 730,240
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.82 (d)

Table of Contents

I History
1 The Snake Pit 3
2 April Fools' 14
3 Accident 26
4 Showing the Bastards 35
5 Takeoff 45
II Business
6 Opportunism 63
7 The Market 72
8 Building the Church 87
9 Olympus 105
III Culture
10 The Bar's Race to the Bottom 121
11 Hardball 139
12 The Skadden Culture 153
13 Green 176
14 Pro Bono 191
15 The Merger Movement 207
IV The Crucible
16 Skaddenfreude 231
17 The Morning Line 239
18 Recession 246
19 Making Partner 263
V The Future
20 Global 277
21 Spooked 297
22 Succession 318
A Background Note 333
Acknowledgments 337
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