Looks like less than 10% of Fortune 500 CEOs went to law
by Moff (2024-03-26 17:57:13)
Edited on 2024-03-26 18:57:40

In reply to: I think that's the fundamental difference  posted by Freight Train


school. (A couple of them at ND - Bank of America and PG&E).
https://www.usnews.com/education/best-graduate-schools/top-law-schools/articles/2012/06/26/table-where-the-fortune-500-ceos-went-to-law-school.

Although not on the list, there is also our own Rod West, a Group President at Entergy.

Not sure how many of them practiced for any substantial period of time before becoming CEOs, or how many were litigators versus corporate law or the like. I knew some in my law school class who just went to law school for the training and with the plan to use it in business right away. One such friend was actaully more interested in being the lead singer of his band than taking over the family's business, but he eventually relented. Given how nice his family's home was back in the day in Upper Saddle River, I bet he doesn't regret it too much. I still have his band's cassette of original tunes. Robert Wright worked for a while at the firm at which I spent most of my career, before going to GE, but that was an exception as most stayed in the law biz.


(As another one of my all too often digressions/anectdotes:) Some people very near and dear to me used to work for H. Donald Campbell and his wife Alice, and ended up becoming like family to them. He was the type that went to law school only to go (almost) immediately into the banking industry. He did a nice job leading what would become WaMu and was then hired by Chase Manhattan Bank after the Depression broke out, eventually taking over as President of the bank and later adding the title of Vice Chairman of the Board, guiding Chase through the Depression, WW2 and beyond.

At one point, the bank's Chairman Winthrop Aldrich -- brother of Abby Adrich Rockefeller -- asked Mr. Campbell to teach his nephew, David Rockefeller, the banking business, or at least further his education as to same. Winthrop's sister Abby Adrich married John D. Rockefeller, Jr., and they had, among other children, Nelson and John D. Mr. Campbell apparently did a good job as mentor, as David later took over as CEO and Chairman circa 1969.

The Campbells had a house on Cape Cod that they let my parents use for their honeymoon. It was not far from that of the Kennedy's. Although many of the elite shunned Joe Kennedy, Mr. Campbell used to say he was not a bad guy and they used to play cards together. But he would then add with a smile that "those boys were brats." (Meaning young JFK, Bobby, Teddy, etc.) During the mid to late 60's, Mr. and Mrs. Campbell visited my parents' very middle, middle class house in Oyster Bay, NY for lunch. At one point during the visit, Mr. Campbell commented to his wife, Alice, that it was a nice house and she should get someting like it when he was gone. Mrs. Campbell was a very nice and humble lady (a relative served as her personal secretary and they traveled the world together and became best friends), but I bet she was not thinking "You're right, honey." At the time they also had an estate in Connecticut (later bought by Gene Rayburn of all people), a winter home in Scottsdale, AZ that was later purchased by Elizabeth Arden, and a home at The River House, arguably still the Upper East Side's premier address (a Rothschild is one of the current residents as was Henry Kissinger until he recently passed away). Reportedly Nixon, Joan Crawford, and Gloria Vanderbilt did not make the cut there, and it was more for the Roosevelts, Vanderbilts, Whitneys, Greta Garbos, etc. who did live.

My only grandfather figure, Joe Loving (the brother of personal secretary, May Loving) served as the Campbell's driver and bodyguard, most likely using skills he had used during Prohibition, working alongside his Port Washington buddies Eddie Pelo, "Duke" Salerno and Pete Biscaro. (Only Eddie stayed in that line of work. Later on, it took just one phone call to Brooklyn for Eddie to make sure that Joe's car, stolen in Manhattan, was delivered back to his driveway on Long Island the next day, washed, waxed and with an apology note. I remember at Joe's 1978 funeral, Eddie had a horseshoe shaped set of flowers delivered to the funeral home, as he if he had won the Derby, with a ribbon across it that said "So long, old pal." I remember being impressed by same, and by Eddie himself when my mother pointed him out and introduced me to him at the funeral home. But I digress in digressing)

Joe and May would often run into the rich and famous with them at, among other places, The River House. For instance, Joe said Prince Rainier was a nice guy and they once struck up a conversation out front while the Prince was waiting for Grace to come downstairs. In later years, if my father was unexpectedly delayed doing a delivery at nearby New York Hospital, he would ask my mother (they knew the Campbells through my mother's side of the family, i.e. the Lovings) to go over to The Campbell's apartment at TRH to wait for him. On one such occasion, my mother had my brother along with her and he thus became the first baby that Mr. Campbell had ever held, as the Campbell's never had any children of their own. Mr. Campbell remarked to my mother that my brother looked so intelligent and that she should have more childen. And, of course, he was right! ;) Good times, all before my time.

Linked is a photo available online of Mr. Campbell and Withrop Aldrich in the latter's office at the bank, complete with a picture of the bank's founder, Alexander Hamilton, and Wintrhop's daughters in the background. I actually picked up a copy of that print which I probably did not need to do as I ended up with some of Joe and May's copies of their portraits, and even some photos of their believed dog and cat (along with a couple sets of his cufflinks). He looks pretty scary in the photo, but I was assured he was most humble and kind.