He's the Lawyer They Call When America Is in Trouble
Joshua Feltman is a partner at Wachtell, Lipton, Rosen & Katz who has helped lead some of the most consequential restructurings of the last two decades - including Toys “R” Us, AMC, Expedia, and Express. In this episode, Josh walks through his unlikely path from Harvard to Wachtell, the weekend he helped the U.S. Treasury nationalize Fannie Mae and Freddie Mac, and the lessons he’s learned steering multibillion-dollar deals at one of the most elite law firms in the world. He also shares insights on mentorship, the traits that distinguish standout associates, and the balance between family life and high-stakes work. __________ Check out Erwin Dweck on Momentum: https://youtu.be/tY3mqpt5v1M- __________ SPONSORS: • Kosher Media: The premiere advertising network across Jewish communities worldwide. koshermedia.com • Life Vault Films: Capture the story of your loved one, forever. To inquire, email [email protected] • Hedaya Capital Group: Discover how The Hedaya Capital Group’s factoring services can help power your business’s financials: hedayacapital.com __________ ABOUT MOMENTUM: 🎙️ Momentum brings you the stories, advice, and wisdom of business visionaries, designed to inspire and guide you on your path to success. Be sure to subscribe on all platforms: YouTube: https://www.youtube.com/@TheMomentumPod Spotify: https://open.spotify.com/show/1jOPoArXfY3OU5uv4BpA3h?si=0311640b82154d1b Apple Podcasts: https://podcasts.apple.com/us/podcast/momentum/id1762657981 Instagram: http://instagram.com/momentumpodcast_ __________ GEAR (please use my affiliate links to make me rich!) • Cameras: https://amzn.to/3UuwW5o • Podcast Mics: https://amzn.to/3J5QWsv • Clip-on Mics: https://amzn.to/3H52iwo • Mic Stands: https://amzn.to/4kZj4uL • Lights: https://amzn.to/45lA5up • Tripods: https://amzn.to/4lHHQAI __________ (00:00) Coming up… (02:44) Intro to Josh (03:49) What is distress? How does a company reach distress? (06:26) Growing up and childhood values (10:35) Did you always know you wanted to be a lawyer? (14:08) College environment then vs now (19:15) Jobs between college and law school (22:38) Ad: Kosher Media (23:27) Working for Price Waterhouse and NERA (27:24) Recruiting for big law in law school (33:12) Why Wachtell Lipton? (37:47) “All the deals have been made already” (39:37) The environment at Wachtell when Josh joined (42:54) Ad: Life Vault Films (44:12) Bailing on a wedding to help the U.S. Treasury in 2008 (50:59) Making partner at Wachtell: scale back or double down? (53:51) What Wachtell is known for (57:41) Ad: Hedaya Capital Group (58:40) Mentorship: how Josh pays it forward (01:04:51) Legendary Leonard Rosen story and representing creditors (01:08:20) What makes a standout associate? (01:12:49) Notable restructurings: Toys R Us, AMC, Express (01:14:46) Being in the room when Toys R Us was liquidated (01:18:40) Proudest deals (01:24:36) The relationship between family life and career pursuits (01:29:51) Mentorship, speaking at conferences, and paying it forward (01:33:30) Momentum Moment and closing thoughts (01:41:30) Outro and 3 key takeaways