In May 2012, iconic law firm Dewey & LeBoeuf, with more than a century of history, filed for bankruptcy. http://dealbook.nytimes.com/2012/05/28/dewey-leboeuf-files-for-bankruptcy/

At the root of the problem, says this article: "unfettered growth, often through mergers; the aggressive poaching of lawyers from rivals by offering outsize pay packages; and a widening spread between the salaries of the firm’s top partners and its most junior ones." Or, in other words, destructiveness and poor planning fuelled by arrogance and greed.

 

Later in the article comes the quote we like best. “'Because the partnership lacks any shared cultural values or history, money becomes the core value holding the firm together,' said William Henderson, a law professor at Indiana University who studies law firms. 'Money is weak glue.'”

If money really is “weak glue” for holding an company or organization together, what is stronger glue than money? We think Authenticity and a meaningful Purpose are good places to start. What do you think?

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