File this under better late than never:  The New York Times has finally covered the Coudert meltdown, with a tale that aptly captures the romantic, idealistic, and ever so slightly out of touch with reality aura of the firm at its best and yes, at its worst: 

"As an aesthetic experience, as pure lawyering, it was a great place," said Henry Horbaczewski, who left the firm in 1986 and who, as general counsel for Reed Elsevier's American operations, hired Coudert. "It's really sad to see that that doesn't translate into a viable business."

Doesn't or can't? is the question.  Forgive the idealist in me, but Coudert could have made it given different management choices and even a small dose of greater realism.  Billing for two years of past work all at once?  Not exactly "best practices."  A storied firm.

Posted by Bruce on August 30, 2005 7:28 AM

http://www.bmacewen.com/blog/archives/2005/08/idealism_and_re.html