Word: wall
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Dates: during 1960-1969
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...Barry Goldwater, Nelson Rockefeller, George Romney or William Scranton runs for President in November and loses, a pattern is sure to be broken. None of the four is likely to become a practicing lawyer, and it is something of a tradition for defeated G.O.P. presidential nominees to join big Wall Street law firms. After losing to F.D.R. in 1940, Wendell Willkie entered the partnership now named Willkie Farr Gallagher Walton & Fitzgibbon. In 1955 Tom Dewey joined Ballantine, Bushby, Palmer & Wood, which promptly renamed itself Dewey, B., B., P. & W. Richard Nixon has joined Mudge, Stern, Baldwin & Todd, and the firm...
Solid & Durable. The traffic moves in both directions; big-time lawyers shift readily into high posts in business and government. The late John W. Davis of Davis Polk Wardwell Sunderland & Kiendl left Wall Street in 1924 to be come the Democratic candidate for President; he lost and went back to lawyering. Several Cabinet officers, Henry L. Stimson and John Foster Dulles among them, have been Wall Street lawyers. Defense Secretary McNamara's newest deputy, Cyrus Vance, came from Simpson Thacher & Bartlett. The big outfits, sometimes referred to as "factories" (the term makes the lawyers wince), also supply a sizable...
...most part, though, the big firms still earn their big money drawing up contracts. Factory-fashioned transactions often involve many millions of dollars-large transfers of property, huge bank loans, corporate mergers. Shepherding new stock issues is an especially profitable type of business, affectionately referred to among Wall Street lawyers as handling "green goods...
...firm is a prize starting place for an ambitious law-school graduate, and only the highly promising get tapped. Back in 1911, having graduated from Princeton, studied at the Sorbonne for a year and acquired a law degree from George Washington University, John Foster Dulles applied at several Wall Street law firms and failed to get a job. "Law degrees from Harvard or Columbia," Dulles later recalled, "were the requirement for admission to the eminent law firms of New York." It took family influence to win Dulles a starting berth at Sullivan & Cromwell. Once in, he rose...
Goodness Gracious. The impact of the press is mostly psychological-and Wooden is an old hand at amateur psychology. A onetime high school English teacher and a church deacon whose strongest expletive is "goodness gracious sakes alive," he plasters his office wall with poems, epigrams and posters of his own devising. "It is what you know after you know it all that counts," says one sign. Says another: "Success comes from self-satisfaction in knowing you gave all to be the best you are capable of." Success, too, is something Johnny Wooden knows about: after 16 years at U.C.L.A...