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wildcard

By wildcard
in Orioles Talk

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Frobby Hangout Grand Counsel

Frobby

Posted
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10 minutes ago, wildcard said:

So what do you think happens to the Angelos Law firm?

Honestly, anything I’d say would be pure speculation, because I know very little about how the firm is structured, who really controls the client relationships if Peter’s gone, and what the culture of the firm really is.    What I do know is that at any firm, if a lawyer who controls client relationships is unhappy with how he or she is being treated or compensated, that lawyer always has the option to leave and convince the clients to move to the lawyer’s new firm.  No law firm “owns” its clients; clients under the ethics rules can terminate a relationship with a law firm at any time without any advance notice.  Peter might have had the ability to convince the clients to stay with him; Lou doesn’t necessarily have that ability, and if not, it’s hard to see how the law firm will simply be owned and run by him.    But again, I don’t have any real information about what the relationships are like there.    

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spiritof66 Hangout Grand Counsel

spiritof66

Posted
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6 minutes ago, wildcard said:

So what do you think happens to the Angelos Law firm?

I think there are three main possibilities: the firm continues, but with newly named partners (that is, owners) that might include Lou or John Angelos), with the firm's profits shared among among those who bring in business and/or do the legal work, as agreed upon by those new partners (with Lou or John, if either or both become partners, probably receiving a small share since they will be busy with other things, assuming they or their mother inherits the team and MLB approves that transfer); or the firm disbands but is reconstituted under a new name, by new partners who own the new firm, probably not including John or Lou Angelos, but, if they are included, giving them limited shares of the profits as above; or the firm disbands and its lawyers scatter to existing firms or newly formed, smaller firms.

In any event, I think it's very doubtful that the law firm is a source of substantial or long-term revenue to John or Louis Angelos, or that, after a transition period they might be heavily involved in as executors of their father's estate, it occupies much of their time. There is one business in which they would have an interest -- if MLB's owners permit. That's the Orioles, and that business owns a majority of MASN. 

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spiritof66 Hangout Grand Counsel

spiritof66

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14 minutes ago, Frobby said:

Honestly, anything I’d say would be pure speculation, because I know very little about how the firm is structured, who really controls the client relationships if Peter’s gone, and what the culture of the firm really is.    What I do know is that at any firm, if a lawyer who controls client relationships is unhappy with how he or she is being treated or compensated, that lawyer always has the option to leave and convince the clients to move to the lawyer’s new firm.  No law firm “owns” its clients; clients under the ethics rules can terminate a relationship with a law firm at any time without any advance notice.  Peter might have had the ability to convince the clients to stay with him; Lou doesn’t necessarily have that ability, and if not, it’s hard to see how the law firm will simply be owned and run by him.    But again, I don’t have any real information about what the relationships are like there.    

I agree with that, FWIW. Lou might "inherit" some clients who agree to stay with a firm headed by him because his name is Angelos. If that happens, some of the firm's 59 lawyers (the number listed on its website) might agree, for a while, to work for a firm headed by Lou. But it's hard to see how that could last very long.

 

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Frobby Hangout Grand Counsel

Frobby

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2 minutes ago, spiritof66 said:

I agree with that, FWIW. Lou might "inherit" some clients who agree to stay with a firm headed by him because his name is Angelos. If that happens, some of the firm's 59 lawyers (the number listed on its website) might agree, for a while, to work for a firm headed by Lou. But it's hard to see how that could last very long.

The structure of that firm is so different than the ones at which you and I have worked, it’s hard to know what people there might be thinking.   And of course, moving contingent fee cases is more complicated than moving hourly fee cases, in terms of how the old firm gets compensated if a settlement or judgment is reached after a case is moved.   It will be interesting to see how that plays out.   

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Redskins Rick Hangout Grand Counsel

Redskins Rick

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10 minutes ago, Frobby said:

The structure of that firm is so different than the ones at which you and I have worked, it’s hard to know what people there might be thinking.   And of course, moving contingent fee cases is more complicated than moving hourly fee cases, in terms of how the old firm gets compensated if a settlement or judgment is reached after a case is moved.   It will be interesting to see how that plays out.   

I can also see this not being an issue.

There are times with families with business ties with another family business, will keep that relationship, even when the kids are running things.

My father did his business there, so that's why I am there, loyalty.

Younger generation don't understand this or get this, but I do.

I have a friend of mine, his business CPA retired and he kept his business with his daughter.

 

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spiritof66 Hangout Grand Counsel

spiritof66

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7 minutes ago, Frobby said:

The structure of that firm is so different than the ones at which you and I have worked, it’s hard to know what people there might be thinking.   And of course, moving contingent fee cases is more complicated than moving hourly fee cases, in terms of how the old firm gets compensated if a settlement or judgment is reached after a case is moved.   It will be interesting to see how that plays out.   

That's all true. I have seen a number of similar firms (in New York), probably a little smaller and far less prominent in NY than the Angelos firm is in MD, fall apart pretty quickly when a heavy hitter dies or leaves. And those firms appeared to have taken some steps to prepare for the future that Peter Angelos appears not to have taken. There is a lot for the partners to fight over, but not much to hold them together.

The details don't have much of an effect on anything Oriole-related. It's virtually certain that over the long haul neither Angelos son is going to be like Peter Angelos (or Edward Bennett Williams), spending significant time running a law firm and earning substantial profits from that firm.

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Redskins Rick Hangout Grand Counsel

Redskins Rick

Posted
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10 minutes ago, spiritof66 said:

That's all true. I have seen a number of similar firms (in New York), probably a little smaller and far less prominent in NY than the Angelos firm is in MD, fall apart pretty quickly when a heavy hitter dies or leaves. And those firms appeared to have taken some steps to prepare for the future that Peter Angelos appears not to have taken. There is a lot for the partners to fight over, but not much to hold them together.

The details don't have much of an effect on anything Oriole-related. It's virtually certain that over the long haul neither Angelos son is going to be like Peter Angelos (or Edward Bennett Williams), spending significant time running a law firm and earning substantial profits from that firm.

Based on what? I think the one has been very involved with running MASN full time for years?

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Yardball85 Hangout Veteran Council

Yardball85

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52 minutes ago, Absltgreek said:

https://twitter.com/JonHeyman/status/1052256318659158016

 

I like it. 

Even though this is an older article, I like her and I like the idea. Young, analytical, if they give her free reign could be really good.

 

https://sabr.org/research/dodgers-assistant-general-manager-kim-ng-ready-make-jump-top-job

 

 

I would be absolutely thrilled if the Orioles hired Ng. Colletti - not so much.

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