The Three Lessons Of Joe Flom

1. The Three Lessons Of Joe Flom Dina Christopoulos Chris Monopoli Hunter Santos Charis Kao

2. Lesson 1: The importance of Being Jewish • Joe Flom was intelligent, Jewish lawyer, who unfortunately was at the wrong place at the wrong time • Through 1940 to 1950, it was very difficult to enter a law firm, because they were very picky as to who they hired • If you had graduated at a law school during that era, you would probably be involved in small cases and be classed as below many of the lawyers in the world

3. Lesson 1: The Importance of BEING jewish • Many top class lawyers, at that time, had jobs of “representing” giant corporations, by handling taxes and legal work and to make sure the company has a good reputation • The cases that the low class Jewish lawyers would receive are the cases the white-shoes firms didn’t want to be involved with • “…Litigation was for hams, not for serious people. Corporations just didn’t sue each other in those days.” (124)

4. Lesson 1: The importance of being jewish • When ever there was a lawsuit they needed to deal with, they would call Joe Flom to do it, only so they don’t have to do deal with the problem • Then, suddenly, even more corporations began proxy fighting, and more lawyers were needed more then ever. • And now, Joe Flom, with all the experience he received from all those lawsuits, was now even more valuable as a lawyer then he used to be.

5. Lesson 2: Demographic Luck • “He was intelligent and educated. He came from a family well-schooled in the rules of the system. He was living in the most economically vibrant city in the world. Here is the strange thing: it never happened.” Page 130 • Maurice Janklow was born in 1902. He began his career when the Depression started He had a son named Mort Janklow. Mort ended up built his own law firm and was very successful in his career • If you were born after 1912, you had better chance of succeeding because the Depression had ended

6. Lesson 2: Demographic Luck

7. Lesson 2: Demographic Luck • The demographic trough was a decade in the 1930s. This was when the economy of the depression really affected families and lead them to stop having children • Working parents could not support their families during this time period • This generation of children was much smaller than other generations

8. Lesson 3: The Garment Industry and Meaningful Work • Louis and Regina Borgenicht were a hard working couple that came from Hamburg, Germany • Started pushcart business • Didn’t see a future in pushcart • Inspired by the clothing store around him • Began to make aprons for children

9. Lesson 3: Lesson 3: The Garment Industry and Meaningful Work • His apron business was very successful • Other Jewish immigrants followed their sewing skills and created businesses • “The garment industry was boot camp for the professions.” (Page 153) • Children of Garment/Supermarket Industry Lawyer/Doctors

10. Essential Questions • After what year would you have to be born in order to have a better chance of succeeding? • Why do you think people were not having more children in the time period of the Depression? • How did the garment/supermarket industry help the future children in their success? If Louis and Regina continue the pushcart business would that help the children in future success? Why? • How was the discrimination of Jews an advantage for Joe Flom to get to the top?