The speculation about what the resignation letter could mean legally is interesting. Of course, if it was bad for the firm, they could just destroy it and no one would be the wiser.
The standard commission structure for an ad agency is to take 15% of the cost of the commercial/ad that they place. So if they pay $85 net to a station for a TV or radio spot, there would be a $15 commission. The client would pay $100 to the agency, and the agency would pay the station their $85 and keep the rest.
Under a fee deal, the client would just pay a flat rate for all of the work being done and it wouldn’t matter what kind of rates they were able to negotiate with the station.
So it’s almost always a less profitable deal for the agency, which is why they were worried about other clients all wanting the same deal.
And this is why Harry actually has a very important job. At first blush, it doesn’t look like he’s doing anything very hard. But the firm’s ability to profit from the bills it takes in is effected by the rates that Harry is able to get for the ads that they place.
IIRC we established earlier that Sterling, Cooper, and Draper each have 25% of the agency and Lane and Pete had 12.5% each, before Joan got 5% which shaved a little from each. So I’m guessing this happens to agencies and law firms and companies every day- a junior partner dies or gets voted off the island or both- but in real life what happens? Which of these scenarios would be most likely:
-If Lane’s widow doesn’t want to be paid out for his shares can she retain them as a silent partner?
-If she is bought out, would the partners split them and each pay a share of the payment to Lane’s widow? (This would seem unlikely since Joan doesn’t have the money to pay for any part of the share, Pete’s not in the position Don and Burt and Roger are in, and nobody would want Roger or Don [the two most likely to do so] owning 37.5% of the firm.)
It depends on the documents that created the partnership. All this stuff would be defined by contract.
I learned from Are You There, God? It’s Me, Margaret that it used to be a belt you pinned a horrible giant pad to. (Awfully, newer editions of that one change that detail, which is a shame because I don’t know where else a young woman would learn anything at all about what our foremothers had to deal with unless they did research of their own.)
As soon as Sally said she wasn’t feeling well at the museum, I knew what was going to happen. I even turned to Suburban Plankton and said, “I bet the show the blood.” It was just exactly something I expected of this program. It didn’t bother me at all.
What I didn’t expect, though, was for Betty to have told Sally about getting her period. A lot of girls are totally unprepared for it, even in this day and age. I just saw Betty as being the type of woman to not bring it up until it was necessary, that is, when it happened. I thought for sure Sally would run back to the apartment and talk to Megan about it, thus bonding them closer and making Sally resent Betty all the more for not preparing her.
I think he’s great! I know/knew tons of boys like him. He’s spot-on.
If you (not you peedin) think he’s bad as an actor you aren’t familiar with the kind of character he’s trying to portray.
Can someone explain to me what the chain of command is at Sterling Cooper Draper Pryce? Who is managing partner?
Harris was amazing during this episode.
Cooper, Sterling, and Draper are equal partners. Pryce and Campbell are half partners. Pryce managed the books. That’s pretty much all there is to it. There is no “chain of command” beyond that.
Merci.
I agree with Zipper. I have no idea what the actor is like in real life, but Glenn is exactly like a lot of boys that age.
Regarding Lane, not only did he embezzle funds and forge Don’s signature, he lied about it when Don confronted him. Given that, Don’s actions were certainly as accommodating as Lane could possibly have hoped for. If Pete had been in on the discovery he probably would’ve gotten the authorities involved.
Since Cooper knows about the check, even though he doesn’t know it was forged, is he going to start asking Don questions about it?
Welcome back.
Don may tell the partners what went down. It doesn’t matter much at this point.
It will matter if there is a dispute over Lane’s share.
Thanks.
Great non-spoilery quote from the article:
What dispute would there be? Wouldn’t his wife inherit his share of the firm as next of kin?