When Ron left Touche Ross (accounting firm) around 1970, he rented a small office on Wilshire Blvd in Beverly Hills. It was old, but it was nice, and all he could afford at the time. A few years later as his practice grew, he moved to a suite in Beverly Hills, run by Paul Fegen. Paul was a personal injury lawyer who created the concept of shared office space. Paul would rent a floor in a prestigious building, divide it into dozens of small offices, and rent the space to accountants and lawyers. There was a receptionist to answer the phone, a shared library, shared conference room space. It was a win/win situation. Ron stayed there only a short time, as his practice was growing and he had a new partner and needed larger space.
The concept of shared space was brilliant. We see it everywhere today, but Paul Fegen was the first to do it. Over the years, he had offices in 26 states, had over 10,000 renters, and grossed $3 million per month! The LA Times got wind of what he was doing in 1971, and an article about him appeared on the front page of the newspaper in December, 1971. The article made him an instant celebrity.
Paul was a hippie, with a long, scraggly beard and hair, but he didn't live the hippie life. He drove a fancy car with the license plate "FIG," had a palatial office that looked like he furnished with Louis X1V furniture. He brought his dog to work (before that was popular) every day.
All was great for Paul until the crash of 1983, when everything went to hell. He lost his fortune. He had practiced law for over 40 years before he was disbarred around 2010, after admitting to four counts of misconduct in three matters.
Today he is a magician, and I think a very good one. You can rent his services for your next party for $250. He says he loves magic more than his days as a real estate tycoon, with constant parties and women. Who really knows. In LA, its easy come, easy go. You're on top of the world one day, and in the dumps the next.
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