Shea & Gould
Shea & Gould was a prominent New York law firm founded in 1964 and dissolved in 1994.
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Overview
Shea & Gould was a major United States law firm associated with New York political, governmental, corporate, and litigation work. The firm was created in 1964 through the merger of Manning, Hollinger & Shea and Gallup with Climenko & Gould. Its principal name partners were William Shea and Milton S. Gould, who owned and operated the practice. The combination brought together established New York legal practices and gave the resulting firm a broad base from which to expand. During the 1960s and 1970s, Shea & Gould developed beyond its original New York foundation. It acquired several smaller specialist practices, including practices connected with antitrust and other fields. The firm became particularly identified with its New York government-relations work and maintained relationships with Democratic administrations in both New York City and Albany. Its client list included major sports organizations such as the New York Mets and New York Yankees, professional-services company Deloitte & Touche, and Marine Midland Bank. It also represented prominent individuals, including Greek shipping figure Aristotle Onassis, former New York City mayor Abraham Beame, and Reverend Sun Myung Moon. At its height, Shea & Gould employed approximately 200 lawyers. Its offices included New York City, Washington, D.C., Albany, London, and Los Angeles. The Los Angeles presence came from the firm's 1985 acquisition of the approximately 70-lawyer firm Pacht Ross Warne Bernhardt & Sears. That expansion did not produce sustained results: the Los Angeles office closed in 1989 after weak earnings. A number of its Los Angeles lawyers subsequently left to establish or join other practices, including the now-defunct New York firm Myerson & Kuhn, while seven former Shea & Gould lawyers founded Ingram Yuzek in 1989. The firm's professional roster included former New York governor Hugh Carey, who joined as counsel; former Arkansas congressman Wilbur D. Mills; former professional basketball player and Rhodes Scholar Heyward Dotson; and Jerome H. Kern, who had been a founder of Wachtell, Lipton, Rosen & Katz. These connections reflected the firm's combination of litigation, public affairs, corporate, and politically connected legal work. After William Shea died in 1991, the firm elected Thomas E. Constance as chairman and added members to its executive committee. The enlarged governance structure generated internal tensions. On January 27, 1994, the partners voted to dissolve the firm by March 31, citing irreconcilable differences. Shea & Gould therefore ended operations in 1994 rather than continuing as an independent successor brand. Its history is notable both for the prominence of its New York practice and for the later fragmentation of its offices and lawyer groups.
History
Shea & Gould emerged in 1964 from the merger of Manning, Hollinger & Shea and Gallup with Climenko & Gould. The new firm took its name from William Shea and Milton S. Gould, who owned and operated the practice. Based in New York, it developed into one of the city's better-known law firms and combined conventional legal representation with a substantial government-relations practice. The firm broadened its capabilities during the 1970s by acquiring several smaller practices, including specialist groups in antitrust and other legal areas. It ultimately employed approximately 200 lawyers and operated from offices in New York City, Washington, Albany, London, and Los Angeles. The Los Angeles office was added in 1985 through the acquisition of Pacht Ross Warne Bernhardt & Sears, a firm reported to have approximately 70 lawyers. The office was closed in 1989 because of weak earnings. Departures following the closure contributed to the creation or expansion of other legal practices, including Myerson & Kuhn and Ingram Yuzek. Shea & Gould represented institutional and commercial clients including the New York Mets, New York Yankees, Deloitte & Touche, and Marine Midland Bank. Its individual clients included Aristotle Onassis, former New York mayor Abraham Beame, and Reverend Sun Myung Moon. The firm was especially recognized for its relationships with New York City's Democratic administrations and with Albany political institutions. Its lawyer ranks also included former New York governor Hugh Carey as counsel, former congressman Wilbur D. Mills, former basketball player and Rhodes Scholar Heyward Dotson, and Jerome H. Kern, a founder of Wachtell, Lipton, Rosen & Katz. William Shea died in 1991. The firm then selected Thomas E. Constance as chairman and expanded its executive committee. The larger committee became a source of disagreement, and the partners voted on January 27, 1994, to dissolve the firm by March 31. The stated reason was irreconcilable differences. Shea & Gould consequently ceased to exist as an operating law firm in 1994.
- 1994
Dissolution
[1]Partners voted on January 27 to dissolve the firm by March 31 because of irreconcilable differences.
- 1991
Change in leadership after William Shea's death
[1]Following Shea's death, Thomas E. Constance became chairman and the executive committee was expanded.
- 1989
Los Angeles office closes
[1]The Los Angeles office was shut after weak earnings; several lawyers subsequently departed.
- 1985
Los Angeles expansion
[1]The acquisition of Pacht Ross Warne Bernhardt & Sears established the firm's Los Angeles office.
- 1970
Expansion into specialist practices
[1]The firm acquired several smaller practices during the decade, including practices with antitrust expertise.
- 1964
Creation through merger
[1]Manning, Hollinger & Shea and Gallup merged with Climenko & Gould, establishing Shea & Gould.
Products and positioning
A prominent, politically connected New York law firm with a broad litigation, corporate, antitrust, and government-relations practice.
Legal and public-affairs services
Government relations
A prominent part of Shea & Gould's practice involved advising and representing clients in relation to New York City and New York State government. The firm was particularly associated with Democratic administrations in New York City and Albany, making its public-affairs capability an important element of its market identity.
Competition law
Antitrust practice
The firm expanded its specialist capabilities during the 1970s through acquisitions that included antitrust-oriented practices. This gave Shea & Gould a broader platform beyond its core New York general and litigation work.
Corporate and litigation services
Commercial and institutional representation
Shea & Gould represented corporate, banking, professional-services, and sports clients, including the New York Mets, New York Yankees, Deloitte & Touche, and Marine Midland Bank. The work formed part of the firm's broad commercial legal offering.
Brand decisions
1994
Vote to dissolve the firmOtherBackground
Following William Shea's death, leadership changes and an expanded executive committee produced internal tensions described as irreconcilable differences.
Action taken
Partners voted on January 27 to dissolve Shea & Gould by March 31.
Aftermath
The firm ceased operating as an independent legal practice in 1994.
1989
Close the Los Angeles officeStrategyBackground
The Los Angeles operation produced weak earnings after the 1985 expansion.
Action taken
Shea & Gould closed its Los Angeles office.
Aftermath
Several Los Angeles lawyers left for other firms; seven former Shea & Gould lawyers founded Ingram Yuzek.
1985
Acquire Pacht Ross Warne Bernhardt & SearsM&ABackground
Shea & Gould sought to extend its geographic reach and acquired the approximately 70-lawyer Pacht Ross Warne Bernhardt & Sears.
Action taken
The transaction was used to open a Los Angeles office.
Aftermath
The Los Angeles office later closed in 1989 after weak earnings.
Sources1 sources
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