Home Forums Hunting & Shooting Hunter's Campfire Another Example Of The Duplicity And Deception Of The Fires Left-Winger,Sycamore.

post up anything I've posted on uranium that's not true, or be a liar.

you're the backpedaler.

I can address the "did not pay his bills" allegation, as I used to work at two of the law firms Trump used for his real estate deals. It's basically true.

Here's the caveat: EVERYONE in the business does this, especially in NYC. Not in all practices, of course. For M&A and Securities work, clients generally pay their bills in full and on time (sorta). In other practices, it's expected that the clients will refuse to pay the bill until its discounted, even if everything was done exactly as it should have been done. Insurance and labor law are notorious for this, and it's why the lawyers in those areas get paid less when they are at large firms.

In Real Estate, I'd guess that 75% of clients refused to pay until there was a hefty discount applied.

The way it was explained to me by a partner at a firm that represented The Related Companies (google it if you have to) is that it not only is a tradition (for developers to stiff law firms), it is part of the dealmaking process. A big developer like Trump, Kushner or the Related group will have many development projects going on at once and any law firm that can latch on to those deals will do whatever it takes to keep being selected by the developer for future deals.

Further, the politics at a law firm require lawyers to have somewhat uniform "list" prices for hourly rates, even if the economics of differing practices otherwise justify different rates.

So, to date myself, a "rate card" for a law firm will probably show a breakdown of rates by attorney experience. A junior level associate will show a rate of, for example, $500 an hour, and it usually is (or was) without regard to which practice group the junior associate was in. Same thing with mid level associates, all the way to senior partners. You want a partner, you pay $1000 an hour without regard to the practice area.

The reality, though, is that firms always discount rates for good clients and the discounts are based on various factors. Using me, as an example, I focused on IPOs early in my career, representing issuers (rather than the underwriters) and it was often the case that once a company went public, they wouldn't need IPO lawyers again. So if the firm didn't have an SEC reporting practice that the client would use on a regular basis, the IPO client would get no discount at all since there would be no recurring business. An SEC reporting client, on the other hand, always got discounts because that work was recurring and lucrative over time.

SO, with real estate lawyers, the rate cards were usually about 50% more than the actual paid rates. It's all because of the kabuki dance that goes on over recurring business.

Trump was a very tough negotiator. He'd want to negotiate every penny billed to him, and he was not unusual in this regard. He happened to be pretty successful at getting bills reduced simply because he had a wide range of business that he could bring to a law firm and the firms were anxious to please him.

Anyone in real estate who paid their bills in full and on time was a sucker. NO real developer was naïve enough to pay on time and in full.

I don't know about that.

You going?

Old Coot say he’s hunted with other Campfire members.

LOL

The great pretender drunkard Flave ‘say’ many things.

No you said that.

I just asked which ones.

Then you gone silent.

LOL

Hardly silent.
Doesn’t change your being the great pretender drunkard.

Oh my bad.

Who did you hunt with from this site?

My, what a short memory you have Syc.

You've been back peddling this whole tread.

Lol.

Go easy on Suckermore. He thought that was what lying.lieberal commies were supposed to do,and get paid for it..

Jaguartx is not a liar, as far as I can tell, just kinda of dumb all the time, and kinda drunk some of the time.

But he may prove me wrong yet ( on the lying part)

They can speak for themselves if they care to.

Hardly silent.
Doesn’t change your being the great pretender drunkard.

LOL

They must have realized what a fugk tard you are.

You fugk tards all have the same mantra.

LOL