Friday, May 15, 2009

Wlf Block's Downfall: Greed?

Stories are beginning to come out of the nearly dissolved Wolf Block law firm and they're not pretty.
The stories paint a picture of failed leadership and a captain who sneakily abandoned the ship and hasn't been heard from since.
It seems that greed was the driving force in the downfall of this once legendary Philadelphia legal powerhouse. And the people who were supposedly most responsible for keeping the ship afloat were among the first ones to bail out and leave their so-called "friends and colleagues" to their own devices.
A secretary at the firm explains the single most-powerful "ethic" of those who ran Wolf Block: "No matter how much they made this year, they needed more next year." And this observation was apparently confirmed by retired partners.
One partner observed: "It's hard to bypass the fact that the dissolution happened because of the abysmal failure of leadership and a few greedy lawyers unwilling to cut back on high compensation."
Read more in Gina Passarella's revealing Legal Intelligencer story posted at Law.com.

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