[macamadamia]

Thanks for the white shoe definition. But why white shoe?

[wideawake]

Rich country-club types famously used to wear seersucker suits and white bucks to the office between Memorial and Labor day - so the attorneys who worked for prestige firms dressed in this way during the summer, while the schlubs who worked for lesser firms couldn't afford seasonal wardrobes and wore normal suits year-round.

[Stand Watch Listen]

Thanks for the white shoe definition. But why white shoe?

A few internet definitions..FYI…

-- The white-shoe firm's name is derived from the white buck shoes that were a fashion requirement within elite social organizations in the 1950s.

-- The phrase is in reference to the brief popularity of white shoes (and in some cases, a white belt) among fashionable New Yorkers.

-- Broker-dealer firms that disdain practices such as hostile takeovers.