Age of greed
“He was small, low key and lived humbly even after he became wealthy, a brilliant connoisseur of the ins and outs of the law, and one of the most aggressive lawyers of his time. (Madrick 74)” Joseph Harold Flom, a well-known lawyer, holds an impenetrable reputation for conducting one of the first merges and acquisitions in specializing businesses and companies of his era in the 1970’s. A business innovator, Flom was craft fully became the man responsible for the hostile takeover movement in time when the semiconductor revolution was changing the face of the business system. Flom, being independently sharp, opened a small law firm after graduating from a prestigious law school in the 1950’s. Like many, Flom struggled through his first years as a lawyer something that was no stranger to him. Throughout his life Flom faced a variety of challenges and hardships, his father unable to provide for his family benignly pressured Joe into obtaining a prestigious profession. Flom became a lawyer and one of the most important mergers in business contributing to the “Age of greed” and imprinting his business skills in the field up to this day. Helping building Skadden, Arps, Slates and Meagher into the nation’s leading law firms stand as Flom’s long living legacy up to this day. Parallel to the General electric Company and their merge in the 1970’s. Today we see similar companies performing identical transactions in the corporate world. Companies, such as, Verizon with Vodafone and Heinz with Warren Buffett’s Berkshires Hathaway stand today where GE stood several decades ago.
Born into a family of immigrants, Joseph Flom faced hardship while pursuing his profession. Coming from a Jewish household, Floms parents emphasized the importance of obtaining a well -paid profession. His Father, from Russian decent, was a union organizer in a garment industry while his mother worked with what was called piecework. The family experienced financial adversity but benefited from free