Everything Frank McCourt touches goes bankrupt

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I saw that the Dewey & LeBoeuf law firm is folding. That’s huge news and the latest indication of just how farkakte the economics of the legal business are.  But I had forgotten who D&L’s most recent high profile client was. Here’s Steve Dilbeck of the L.A. Times:

News has come from back east that the law firm of Dewey & LeBoeuf is filing for bankruptcy. Besides the little detail that this is the largest law firm to go under in U.S. history, there is this one other notable fact: The law firm going bankrupt is the same law firm that handled Frank McCourt’s bankruptcy of the Dodgers … Hey, I know a guy flush with $1 billion who might be able to give Dewey a loan. You could argue he even owes them.

Sadly, we can’t pin this on McCourt. Rather, we can pin it on a ridiculous compensation system that has law firm partners promising themselves insane draws despite the fact that revenues won’t support it anymore because business clients aren’t as dumb as to simply rubber stamp every legal bill that comes in to the accounting office like they did back in the 80s.

Mamas, don’t let your babies grow up to be corporate lawyers …

Roberto Osuna suspended 75 games for violating domestic violence policy

Blue Jays Osuna Baseball
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Blue Jays closer Roberto Osuna has been suspended for 75 games without pay after violating the league’s Joint Domestic Violence, Sexual Assault and Child Abuse Policy, Major League Baseball announced Friday. The suspension is retroactive to May 8 and will lift on August 4. Osuna has decided not to appeal the decision.

Osuna was charged with one count of assault against his girlfriend following his arrest on May 8. Per FanRag Sports’ Jon Heyman, the reliever is set to undergo trial on July 9. No details regarding his specific actions in the case have been publicly released, but Heyman adds that MLB was reportedly able to interview the victim prior to issuing the suspension. League Commissioner Rob Manfred issued the following statement:

My office has completed its investigation into the allegation that Roberto Osuna violated Major League Baseball’s Joint Domestic Violence, Sexual Assault and Child Abuse Policy on May 8, 2018. Having reviewed all of the available evidence, I have concluded that Mr. Osuna violated the Policy and should be subject to discipline in the form of an unpaid suspension that will expire on August 4th.

Osuna, 23, pitched just 15 1/3 innings during the 2018 season prior to his arrest. He has been on administrative leave since May 8.