$400/Hour

Because of the complexity of some of our deals, I oftentimes have to consult with outside legal counsel. And as with all of our past deals, I rely on the same dependable attorney, a Chicago-based partner at the largest corporate law firm specializing in financial derivatives work. We are on the phone together just about every other week. Only recently did I learn that he had chosen law as a second career much later in his life; Bob attended law school at the University of Chicago in his early forties and was by far the oldest member of his graduating class. Apparently, he had originally pursued a career as a tenure track professor of philosophy after having earned his doctorate at Cornell. Big time philosophy wonk. And on the side, he serves on the board of the Frank Lloyd Wright Preservation Trust. Big time architecture wonk. If his billable rate were a bit more reasonable, I would have relished the opportunity to pick his brain about both topics. Sartre, Existentialism, the Prairie School, Falling Water. Discussing the mechanics of a prepaid variable share forward contract on restricted shares held by an insider just doesn't have the same appeal. Maybe that's why the billable rate is so damn high.