Antitrust is not Crumbs

Overview

James R. Eiszner
Partner and Antitrust Practice Group Chairman
Shook, Hardy & Bacon LLP

Not too long ago, I was contacted by the editors of this publication and asked to participate in this book by writing a chapter on my life as an antitrust lawyer. At the time of the contact, I was extremely busy “ too busy, I thought, to accept the assignment. But then I recalled a scene from one of the great books of our time, Tom Wolfe s Bonfire of the Vanities . That book has nothing to do with antitrust law, but it does explain my motivation for writing this chapter. In the book, Tom Wolfe creates a scene in which one of the central characters , a bond salesman , is asked by his children what he does for a living. He is too busy with his chosen profession and too full of self-importance to respond to his children. The children then turn to their mother for the answer to the question about what the father does as a bond salesman. The mother duly punishes the father for his unwillingness to answer his children s question. She tells the children that bonds are like big loaves of bread that are transferred between rich people, that their father encourages the transfer of these big loaves of bread, and makes a living by picking up the crumbs that result from the transfer.

I do not want anyone to think that the practice of antitrust law is picking up crumbs. I have spent years practicing antitrust law and, while there have been some bumps in the road, have found it to be an extremely rewarding career. Perhaps no area of law is as intellectually challenging. I deal with a host of different industries and have needed to learn how those industries operate . I know how petroleum gets extracted from the ground, is converted to gasoline, and distributed to consumers. I have learned how writing paper is made, how new pharmaceuticals are developed, approved and marketed, how soft drinks are made and sold, how airline schedules are set, and even the ins and outs of distributing agricultural equipment.

Antitrust cases tend to be labor intensive . While most lawyers handle cases by themselves , antitrust lawyers need to create teams and make them work efficiently and cost effectively. As a result, I and other antitrust lawyers do not practice law alone. Many of my accomplishments are not really mine at all, but those of a team of lawyers which include me. Because I love teamwork, I have always found practicing antitrust law to be tremendously enjoyable.

One cannot understand what an antitrust lawyer does unless they understand what antitrust law is. It is not passing loaves to create crumbs.