To Be Fair, Yale Law School Deserves Its Turn

Did you see the news, Greg Fleming, the former President and Chief Operating officer is resigning from Merrill Lynch to take a job teaching at Yale Law School?   Other than graduating from Yale Law, Mr. Fleming’s most notable qualification to teach law appears to be that he never practiced law. I suppose that that simply demonstrates Yale’s commitment to the concept that actually having acquired and demonstrated the skills to practice is a distraction to teaching someone how to practice law.

So what skills will Greg Fleming teach? Well, he appears to be skilled at buying and selling “complex financial instruments” that everyone now claims were unintelligible. Ok, so perhaps legal writing is not his forte. Justice Thomas said his Yale Law degree was worth 15 cents, Fleming  is perhaps there to teach Yale Law students how to turn it into millions, simply by buying and selling legal documents which no one appears to understand.
 

A Tribute to Bob Banks

A short time ago, I blogged about the importance of building a life line before you needed it. In that blog I described the value of the connections you would make with your ACC colleagues as an end in itself. Fred Krebs recently helped me reconnect with Bob Banks, former General Counsel of Zerox, and the father of ACC.

ACC was formed by a number of energetic and farsighted in-house lawyers. But among this group of talented lawyers one stood out.  For those of us who were around at ACC’s beginning, it was clear that Bob was the spark that created this organization.

I came to know Bob through a reference of a lawyer at the Ohio Lawyer’s Disciplinary Commission. I had been referred to the Commission by the then Chief Judge of the Ohio Supreme Court to whom I had written questioning Ohio’s policy of not permitting one to count time spent in Ohio as an in-house lawyer towards reciprocity admission, while the same time could be counted for reciprocity admission in New York. The Judge, apparently unaware of the rule permitting in-house attorneys to practice in Ohio without being formally admitted, concluded that I was practicing in Ohio without a license and referred me the disciplinary commission.

Chief Judge Celebrezze (as distinguished from Anthony Celebrezze of the Sixth Circuit) was widely reported as using the disciplinary commission as a means of dealing with any controversy concerning his role in office, and there was quite a bit. The lawyer at the commission was understanding and disturbed by the misuse of the office and referred me to Bob Banks, who was reported according to him, as beginning an organization that might just address admission issues for in-house counsel and lawyers generally.

After talking with Bob on the phone I met him for the first time, and I have still have a vivid memory of the meeting, at the Corporate Counsel Institute at Northwestern University Law School. ACC, then ACCA, was an idea coming to life.

I renewed my correspondence with Bob a few days ago (thanks to Fred Krebs sending me a current e-mail address) and have begun once again to share ideas on current issues in the profession. It made me recall the hope and spirit of confronting challenges that infused ACC’s creation.

Bob and his colleagues who founded ACC gave us a great gift—an organization that permits us to change and improve ourselves and our profession in way that none of us could do without it. This Holiday Season we need to remember these founders who built an organization whose creation was not without opposition and controversy. And we should remember that we can best honor their effort by using the organization to its potential.
 

The Second of the Three C's: Collateral Consequences

So you never heard of collateral consequences in your contract course. That is because you are a lawyer and went to law school. Law professors are simply concerned about the legal consequences of the contract, not the practical consequences. To them what is important is whether the contract is legally enforceable as a theoretical issue. In the first C we learned that one might have a legally enforceable contract that is simply uneconomic to enforce.

Collateral consequences examine the notion that contract enforcement has different practical implications, such as it is not such a good business strategy to sue your best customer, even if you win. But the there are far reaching implications to collateral consequences when you design a contract. For example, in my lecture we examined alternative design options that achieve the same legal objective but resulted in profoundly different competitive advantages.

The good news is that you have now heard about the concept. The bad news is your wasted a lot of tuition money in a school that should have examined these concepts, but largely serves as a barrier to entry.
 

Leadership Development Institute

Leadership Development Institute (LDI)  is held every year at Annual Meeting for the incoming leaders of ACC's Chapters and Committees. Run by our Director of Member Development & Chapters, Tori Payne, and assisted by our  Legal Resources Director, LDI focuses on whatr the new leaders of our chapters and committees need to know to head the most productive and active groups.  Having personally worked arm and arm with two of our 17 committees (one being New to In-house, which was awarded Committee of the Year, thank you very much), I know that the leaders work at LDI pays off! The training focuses on recruiting new chapter board members, motivating staff, increasing programming best practices, and much more.  This year, ACC has invited Peter Stark, a published professional with 15 years of career coaching and strategic planning experience, to speak at LDI. We couldn’t be more excited to have him share his expertise with us.

If you are attending the meeting and are interested in taking a more active role in your committee or chapter, please email Tori Payne or check with one of us at registration for more information.