CEO vs. Plaintiff Lawyer
A CEO’s job duties include the following:
a. Determining strategy of how the company will progress;
b. Making sure that strategy is understood throughout the company;
c. Hiring and firing a group of personnel which can bring the strategy to life;
d. Creating a path for the company to get from strategy to realization of goal;
e. Setting budgets to manage the growth of the company while maximizing return;
f. Creating a net profit for the shareholders.
For this job major CEOs are paid millions of dollars upfront along with stock options, retirement plans and benefits. If the company fails to make a profit, the CEO is usually fired or resigns with a severance package, full benefits and stock options amounting to millions of dollars. This despite the fact he failed in his or her job and the company and shareholders lost money. Additionally, none of the money budgeted or spent came out of his or her pocket.
A Plaintiff’s personal injury trial lawyer job duties include the following:
a. Determining strategy of how a case will progress from intake through trial;
b. Making sure that strategy is understood throughout the firm;
c. Hiring and firing a group of personnel which can bring the strategy to trial;
d. Creating a path for the firm to get from strategy to resolution of claim through settlement or trial
e. Setting budgets to investigate and develop of the case while maximizing return;
f. Recovering damages for the client to compensate for injuries caused by others.
For this job personal injury trial lawyer is paid nothing upfront. They receive no stock, no options, retirement plans or benefits. If the attorney fails to make a recovery for whatever reason, he or she gets nothing. This despite the fact he or she paid for all expenses out of pocket which could result of tens of thousands of dollars spent. If they do receive an offer to resolve the claim, the client has the ultimate decision on whether to accept the offer or to continue to trial. If the case is resolved the attorney will receive a percentage of the recovery which the client has approved and which the client authorizes prior to the settlement being completed.
Instead of attacking the way personal injury lawyers are paid perhaps we should have the CEO’s work on a similar structure. I would think they could even take a base salary of a $100k (since most of them do not seem to have enough confidence in their ability to do it without a base as personal injury attorneys do on a daily basis) plus a percentage of profit generated.
If CEO’s did this maybe they would consider what is best for the shareholder and company as it would directly impact their salary. They would not be spending shareholder money on expenses which do nothing for the bottom line profit of the company and they would be more selective in the risks they are willing to take with the company money. It still isn’t directly their money, but at least it will have some impact on their salary.
So next time you hear about those greedy trial lawyers why don’t you see if the person would be willing to take the same compensation package and be willing to have full accountability to their customers/shareholders.
Showing posts with label litigation. Show all posts
Showing posts with label litigation. Show all posts
Tuesday, February 14, 2012
Tuesday, January 31, 2012
MY Party
It’s my party and I’ll blog if I want to. Since I can’t seem to find a party I like, I decided to create my own. I actually had some other names for the party, but the cool ones were already taken, so I decided it is My Party. If you wish to join – you’re in and the name works because it will be your party (wait??- no ok, when it is your party and you tell people about it -- you will tell them it is My Party so we are still good!!) Acknowledge your affiliation with My Party by forwarding it to others letting them know about My Party. At some point we may need to have a convention, which will probably consist of a grill and keg and selection of candidates.
My Party Platform
Flat tax everyone pays same. The dollar you earn is the same why not the tax. If you want to pay more great the tax form will have a line for additional contribution.
Pro-life if you don't want a baby there is a way to avoid it.
Congress -- If you pass a law then own it. If you really believe Obamacare is what's best for the country then it should apply to you.
Obamacare should not require anyone to pay for contraceptives or abortion if they oppose it morally or religious.
Congress -- Once you leave congress your salary ends. You're not working for the country so you shouldn't be getting paid.
If your title or job description has the title czar in it – it’s over. USA does not equal USSR. We elect not create positions by fiat.
Every agency should have a justification of its job and need.
Tort reform we have it – they are called juries. They hear the evidence and are in the best position to determine what is just --As in justice. An artificial cap on damages only impacts cases which have been shown to be requiring a verdict to correct harm.
No cap on salary if you can earn it through hard work power to you, but don't be a hypocrite and support tort reform. Either you are for a free market or you aren't
There is no “the problem was Bush, Obama, etc., etc.” The problem is America’s. Stop whining about what happened and start changing what is happening and what is going to happen. There is plenty of blame to go around so let’s move forward and do what has to be done.
Brent Carpenter – It’s My Party
My Party Platform
Flat tax everyone pays same. The dollar you earn is the same why not the tax. If you want to pay more great the tax form will have a line for additional contribution.
Pro-life if you don't want a baby there is a way to avoid it.
Congress -- If you pass a law then own it. If you really believe Obamacare is what's best for the country then it should apply to you.
Obamacare should not require anyone to pay for contraceptives or abortion if they oppose it morally or religious.
Congress -- Once you leave congress your salary ends. You're not working for the country so you shouldn't be getting paid.
If your title or job description has the title czar in it – it’s over. USA does not equal USSR. We elect not create positions by fiat.
Every agency should have a justification of its job and need.
Tort reform we have it – they are called juries. They hear the evidence and are in the best position to determine what is just --As in justice. An artificial cap on damages only impacts cases which have been shown to be requiring a verdict to correct harm.
No cap on salary if you can earn it through hard work power to you, but don't be a hypocrite and support tort reform. Either you are for a free market or you aren't
There is no “the problem was Bush, Obama, etc., etc.” The problem is America’s. Stop whining about what happened and start changing what is happening and what is going to happen. There is plenty of blame to go around so let’s move forward and do what has to be done.
Brent Carpenter – It’s My Party
Tuesday, July 12, 2011
Court allows Drunks to reduce how much they pay
Texas Supreme Court allows drunk drivers and others who cause car wrecks to reduce how much they will have to pay. Drunk Drivers get benefit of your premiums for health Insurance by getting credit for the negotiated rate.
This should have been front page news in papers across Texas this past week as our Supreme Court issued its opinion in the case Haygood v. Escabedo. Did you see a single paper discuss this ruling? Have you heard any of the radio or TV talk shows discuss this case? Why not? Where is the outrage?
I hear comments from people every month who call me about a workers compensation claim, medical malpractice or other issues. I tell them I can’t handle it because the law has made it almost impossible. They almost invariably tell me that it wasn’t supposed to impact their case only those frivolous ones. When I ask them why they weren’t mad and outraged when the laws were being passed or the Supreme Court was “interpreting” them, they always say it didn’t impact me so I didn’t pay attention. The only outrage about our rights being taken away nationally and in Texas seems to be coming from the trial lawyers. I am proud to be in the outraged group.
So what has the Texas Supreme Court done in its latest piece of judicial activism? Their twists and turns distort the law so much it would make a contortionist envious.
The Court's decision in Haywood v. Escobedo allows the person or company who harms you or your family to benefit from the health insurance you have paid premiums for all these years.
The Court argues there ruling is necessary to prevent a “windfall” to the claimant (that would be the person injured, maimed or killed by the drunk or other reckless driver to us normal people).
They also argue they are just interpreting the law as the Texas legislature wanted. Hard to believe that is the case when the legislature actually tried to repeal the law they are “interpreting” the session after they passed it as they realized what it truly was -- which is a windfall for the drunks, reckless drivers and their insurance companies. However Governor Perry vetoed the repeal of the bill so it is still on the books.
So here we are with an Activist Court that needs to protect the drunks and insurance companies, but how? They have already overturned virtually every jury verdict for any Plaintiff that comes their way. So rather than wait until a jury hears all the evidence and votes to compensate the injured person, they have decided to limit what the jury can hear so the compensation will be even lower and the insurance companies will have to pay less, make more profits and be able to contribute to all the expensive political campaigns.
Here is how the Court accomplished this with their latest decision: Let’s start with a situation where you are hit by a drunk who has a policy of $50,000.00. You are taken by life flight to the hospital where you stay for a week. You then have to go through rehabilitation. After about four months you are mostly better. You missed a month of work and still can’t do everything, but hopefully you will get where you can sleep through the night and play with your kids without having to tell them Daddy needs to rest. You have worked hard for years and paid for your health insurance at the cost of some vacations you wanted to take, but you knew how important it was for you to provide coverage for you and your family in case a situation like this happened. The medical bills were over $100,000.00, but because of your group plan they managed to reduce the total to $35,000.00 and since you met your deductible earlier in the year, you don’t owe anything else.
You send the bills to the drunks’ insurance carrier and ask that they pay the $50,000.00 policy limits because your medical bills alone are over $100k. Pretty straight forward right? You shouldn’t even need to get an attorney to settle this case. The operative word there is shouldn’t.
The reality is the insurance company will tell you we don’t owe $100k in medical because we get to take credit for your health insurance premiums and negotiated rate so all we will owe is $35k and we don’t think all of that is related because we know you hurt your neck 15 years ago when you were putting in fence posts and saw a chiropractor one time so we think all your neck issues are related to that and not this head on collision. So with the paid amount being $35k and us taking out some of the neck issue which we believe is not related (and because we can), we are willing to settle your case for $28,500.00.
What gives them the right to get the benefit of your paying premiums all those years: “Home Office” which is what they consider the Texas Supreme Court. Why shouldn’t they? They have won virtually every case that makes it there. Now the Texas Supreme Court has ruled that the only evidence a jury may consider in determining medical expenses are those amounts which were actually paid or will be owed by the person injured. So all those years of paying premiums and making sacrifices for you and your family to be covered is now benefitting the person who caused the wreck. The jury is not allowed to hear about how the bills were over $100k and because you had insurance it was reduced to $35k. They are not allowed to hear about the premiums you have paid to make that reduction possible. They may not even be allowed to hear about the deductible if it was met before this wreck. All because our Supreme Court has determined that it would be a “windfall”. How is it they never seem to be have a problem when insurance companies have a windfall of profits.
So if you happen to serve on a jury or hear about someone on a jury who talks about how this person was in a wreck but only had xxx in medical you can be fairly certain that it is at least 3x that amount of actual medical charges.
For my lawyer friends we know there are also significant issues regarding how Section 18.001 will be impacted and other battles over what constitutes paid --Is a deductible to be considered? Co-pay?
Some of you may know that I spent my senior year of high school attending gymnasium in Germany (which is the German equivalent of our U.S. high school). One of the things required in history classes was a complete study of the Nazi takeover both in political and military terms, which included the apathy and violence. The rational was if you never forget you will never repeat. If you were to ask someone who lived through that time how they could let it happen they would tell you it was not a sudden change. Rights were taken away one by one and it always was something that didn’t concern them. If someone was complaining about this or that they didn’t care because it didn’t impact them. Until one day it did. Then it was too late. Everyone asked how could “they” let this have happened? And then it became clear they were the “they” who allowed it.
As always I welcome comments.
This should have been front page news in papers across Texas this past week as our Supreme Court issued its opinion in the case Haygood v. Escabedo. Did you see a single paper discuss this ruling? Have you heard any of the radio or TV talk shows discuss this case? Why not? Where is the outrage?
I hear comments from people every month who call me about a workers compensation claim, medical malpractice or other issues. I tell them I can’t handle it because the law has made it almost impossible. They almost invariably tell me that it wasn’t supposed to impact their case only those frivolous ones. When I ask them why they weren’t mad and outraged when the laws were being passed or the Supreme Court was “interpreting” them, they always say it didn’t impact me so I didn’t pay attention. The only outrage about our rights being taken away nationally and in Texas seems to be coming from the trial lawyers. I am proud to be in the outraged group.
So what has the Texas Supreme Court done in its latest piece of judicial activism? Their twists and turns distort the law so much it would make a contortionist envious.
The Court's decision in Haywood v. Escobedo allows the person or company who harms you or your family to benefit from the health insurance you have paid premiums for all these years.
The Court argues there ruling is necessary to prevent a “windfall” to the claimant (that would be the person injured, maimed or killed by the drunk or other reckless driver to us normal people).
They also argue they are just interpreting the law as the Texas legislature wanted. Hard to believe that is the case when the legislature actually tried to repeal the law they are “interpreting” the session after they passed it as they realized what it truly was -- which is a windfall for the drunks, reckless drivers and their insurance companies. However Governor Perry vetoed the repeal of the bill so it is still on the books.
So here we are with an Activist Court that needs to protect the drunks and insurance companies, but how? They have already overturned virtually every jury verdict for any Plaintiff that comes their way. So rather than wait until a jury hears all the evidence and votes to compensate the injured person, they have decided to limit what the jury can hear so the compensation will be even lower and the insurance companies will have to pay less, make more profits and be able to contribute to all the expensive political campaigns.
Here is how the Court accomplished this with their latest decision: Let’s start with a situation where you are hit by a drunk who has a policy of $50,000.00. You are taken by life flight to the hospital where you stay for a week. You then have to go through rehabilitation. After about four months you are mostly better. You missed a month of work and still can’t do everything, but hopefully you will get where you can sleep through the night and play with your kids without having to tell them Daddy needs to rest. You have worked hard for years and paid for your health insurance at the cost of some vacations you wanted to take, but you knew how important it was for you to provide coverage for you and your family in case a situation like this happened. The medical bills were over $100,000.00, but because of your group plan they managed to reduce the total to $35,000.00 and since you met your deductible earlier in the year, you don’t owe anything else.
You send the bills to the drunks’ insurance carrier and ask that they pay the $50,000.00 policy limits because your medical bills alone are over $100k. Pretty straight forward right? You shouldn’t even need to get an attorney to settle this case. The operative word there is shouldn’t.
The reality is the insurance company will tell you we don’t owe $100k in medical because we get to take credit for your health insurance premiums and negotiated rate so all we will owe is $35k and we don’t think all of that is related because we know you hurt your neck 15 years ago when you were putting in fence posts and saw a chiropractor one time so we think all your neck issues are related to that and not this head on collision. So with the paid amount being $35k and us taking out some of the neck issue which we believe is not related (and because we can), we are willing to settle your case for $28,500.00.
What gives them the right to get the benefit of your paying premiums all those years: “Home Office” which is what they consider the Texas Supreme Court. Why shouldn’t they? They have won virtually every case that makes it there. Now the Texas Supreme Court has ruled that the only evidence a jury may consider in determining medical expenses are those amounts which were actually paid or will be owed by the person injured. So all those years of paying premiums and making sacrifices for you and your family to be covered is now benefitting the person who caused the wreck. The jury is not allowed to hear about how the bills were over $100k and because you had insurance it was reduced to $35k. They are not allowed to hear about the premiums you have paid to make that reduction possible. They may not even be allowed to hear about the deductible if it was met before this wreck. All because our Supreme Court has determined that it would be a “windfall”. How is it they never seem to be have a problem when insurance companies have a windfall of profits.
So if you happen to serve on a jury or hear about someone on a jury who talks about how this person was in a wreck but only had xxx in medical you can be fairly certain that it is at least 3x that amount of actual medical charges.
For my lawyer friends we know there are also significant issues regarding how Section 18.001 will be impacted and other battles over what constitutes paid --Is a deductible to be considered? Co-pay?
Some of you may know that I spent my senior year of high school attending gymnasium in Germany (which is the German equivalent of our U.S. high school). One of the things required in history classes was a complete study of the Nazi takeover both in political and military terms, which included the apathy and violence. The rational was if you never forget you will never repeat. If you were to ask someone who lived through that time how they could let it happen they would tell you it was not a sudden change. Rights were taken away one by one and it always was something that didn’t concern them. If someone was complaining about this or that they didn’t care because it didn’t impact them. Until one day it did. Then it was too late. Everyone asked how could “they” let this have happened? And then it became clear they were the “they” who allowed it.
As always I welcome comments.
Thursday, September 16, 2010
responsibility
Toyota admits that its black-box recorder readers have a software error that can cause wrong speed readings.
SUV’s have warnings that state avoid sudden turns, but don’t define what that is or how you are to avoid them if someone pulls out in front of you, or if a child runs out in front of your car.
Child safety seats were found to be incorrectly installed 75% of the time by NHTSA in 2009.
What do all these have in common? The manufacturers know of a defect or problem, but rather than fix the problem and save lives they continue to try and blame the driver and parent.
The buzzwords “personal responsibility” is something that manufacturers love to throw out when they are discussing a case. The driver needs to take responsibility. The parent needs to take responsibility.
I have an idea. How about the manufacturers start taking responsibility and fix the problems instead of spending millions of dollars on lobbyist, defense attorneys and advertisements in trying to shift the blame. They have known of the problems for years and yet do nothing about them. Stop blaming your customers and look in a mirror. If any other business was having 75% of their customers not using a product correctly they would probably get the hint that they need to change something. The problem for drivers and parents is that the manufacturers are able to blame them because a jury generally only sees that one case, and not the hundreds or thousands of other claims or lawsuits regarding the same issue filed across the country. The manufacturers can imply this was just a freak accident or this one driver just failed to handle the situation. In those rare instances in which the Courts allow the jury to know about the other incidents the juries usually award significant damages. Does the manufacturer admit they did something wrong and vow to correct the problem and apologize to the family? Do they thank the plaintiffs and jury for helping them become aware of a dangerous defect which is maiming and killing people? No. They generally talk about how the jury was misguided and they how they will appeal this miscarriage of justice. Here’s a solution. Take some responsibility, fix the problem, save the families from having to deal with the sorrow of their children, parents and other family members being injured or killed because you choose to ignore a problem.
Thanks to my partner for the idea for this blog post.
SUV’s have warnings that state avoid sudden turns, but don’t define what that is or how you are to avoid them if someone pulls out in front of you, or if a child runs out in front of your car.
Child safety seats were found to be incorrectly installed 75% of the time by NHTSA in 2009.
What do all these have in common? The manufacturers know of a defect or problem, but rather than fix the problem and save lives they continue to try and blame the driver and parent.
The buzzwords “personal responsibility” is something that manufacturers love to throw out when they are discussing a case. The driver needs to take responsibility. The parent needs to take responsibility.
I have an idea. How about the manufacturers start taking responsibility and fix the problems instead of spending millions of dollars on lobbyist, defense attorneys and advertisements in trying to shift the blame. They have known of the problems for years and yet do nothing about them. Stop blaming your customers and look in a mirror. If any other business was having 75% of their customers not using a product correctly they would probably get the hint that they need to change something. The problem for drivers and parents is that the manufacturers are able to blame them because a jury generally only sees that one case, and not the hundreds or thousands of other claims or lawsuits regarding the same issue filed across the country. The manufacturers can imply this was just a freak accident or this one driver just failed to handle the situation. In those rare instances in which the Courts allow the jury to know about the other incidents the juries usually award significant damages. Does the manufacturer admit they did something wrong and vow to correct the problem and apologize to the family? Do they thank the plaintiffs and jury for helping them become aware of a dangerous defect which is maiming and killing people? No. They generally talk about how the jury was misguided and they how they will appeal this miscarriage of justice. Here’s a solution. Take some responsibility, fix the problem, save the families from having to deal with the sorrow of their children, parents and other family members being injured or killed because you choose to ignore a problem.
Thanks to my partner for the idea for this blog post.
Wednesday, September 8, 2010
Facebook, myspace, etc.
I love Facebook and Myspace, but maybe not for the reasons you think. Yes I do have a facebook account and probably spend too much time reading about what is going on and checking out the photos, but the real reason I love them is because they provide great information for cross examination in lawsuits (and unfortunately sometimes against me). There is the old saying that don’t say anything you wouldn’t want written in the paper, now it should be don’t take, or be in a picture you don’t want to be brought up in a trial, job interview or just used to embarrass you. I have seen such things on profile as swinger, escort, weekend drunk, and photos that make for great exhibits in cases. I know you some of you are thinking whew, it is a good thing I have my privacy settings so only my “friends” can see that stuff. Well it might not be so secure. Maybe the picture of you drinking several beers on the weekend are in your friends pages or friends friends and they are not protected. It might it also be that one of your “friends” is not really a friend (or is also friends with the person you are against or interviewing with) and turns your information over. You get asked in a deposition or interview did you drink anything over the weekend, you answer no, but there is a picture of you with a beer in your hand surrounded by empty beer bottles. Again the solution is simple. First don’t put yourself in a bad position and second don’t lie about it.
OK Mr. and Ms. professional, I only put professional stuff on facebook, see above, you never know who took what pictures where you were in maybe without you even knowing about them. There is this thing called tagging, not sure what it is, but my daughters do and it gets you tracked down. Now the others Linkedin, etc. these are professional sites and surely can’t be a problem. Generally that is true as long as you follow the tell the truth. It is useful to find out the background on a person, who they worked for, how long and who they are linked to, but here is another useful piece of information. Say you as a lawyer are trying to determine who to depose at the other parties company in the lawsuit. You send discovery asking for the person with knowledge regarding the topic, they give you a name and/or produce someone OR you get on linkedin and do a search for that company and see who all is listed and what their job titles are. Sometimes they are pretty interesting such as risk assessment and management, operations security, safety training and enforcement. These people may know more and be more interesting to depose than the people they offer.
So the moral of this blog is don’t be stupid as it will show up somewhere sometime on social media and don’t lie about it if asked because you should assume if they (attorney, job interviewer) are asking the question they already know the answer. If your company is sued you should review your own employees social sites, including linkedin to see what they have listed as their jobs and descriptions of job. This may help you determine who may be deposed and help prepare them (and you) for questions. Finally never assume that just because you deleted it that it is gone. It seems like the worse the picture, statement, or information the more somebody wants to keep it around.
OK Mr. and Ms. professional, I only put professional stuff on facebook, see above, you never know who took what pictures where you were in maybe without you even knowing about them. There is this thing called tagging, not sure what it is, but my daughters do and it gets you tracked down. Now the others Linkedin, etc. these are professional sites and surely can’t be a problem. Generally that is true as long as you follow the tell the truth. It is useful to find out the background on a person, who they worked for, how long and who they are linked to, but here is another useful piece of information. Say you as a lawyer are trying to determine who to depose at the other parties company in the lawsuit. You send discovery asking for the person with knowledge regarding the topic, they give you a name and/or produce someone OR you get on linkedin and do a search for that company and see who all is listed and what their job titles are. Sometimes they are pretty interesting such as risk assessment and management, operations security, safety training and enforcement. These people may know more and be more interesting to depose than the people they offer.
So the moral of this blog is don’t be stupid as it will show up somewhere sometime on social media and don’t lie about it if asked because you should assume if they (attorney, job interviewer) are asking the question they already know the answer. If your company is sued you should review your own employees social sites, including linkedin to see what they have listed as their jobs and descriptions of job. This may help you determine who may be deposed and help prepare them (and you) for questions. Finally never assume that just because you deleted it that it is gone. It seems like the worse the picture, statement, or information the more somebody wants to keep it around.
Wednesday, August 26, 2009
Health Insurance
The debate over health care rages on. What exactly is being proposed, how will it work, who will implement and supervise it, how much will it cost? Has anyone been able to answer these basic questions? After spending over an hour on the phone trying to get an answer from Medicare on how much they are claiming from my client, and then spending the next several months trying to get it finalized, I am concerned about any additional government run health care. If you have an injury claim and have any health insurance (group, medicare, medicaid, etc.) you may have to pay them back any money they paid on your medical care. The terms you may hear are subrogation or lien. What it generally means is they get their money back from any recovery you get from the party that injured you. What this means to you is that you should not base your settlement on your co-pays or out of pocket only. Submit the entire amount of your medical expenses to the insurance company, not just the co-pays. That way when your health insurance asks for their money back you will be ok.
Thursday, August 20, 2009
Jury Duty
Jury duty can be a pain. You have to go down to the courthouse, verify your paperwork and then sit around for hours waiting to be called (and hoping you're not). If you are called you get herded over to some courtroom where you are asked a bunch of questions about yourself and your beliefs (you try to keep a low profile so no one asks you questions) and then hopefully you will be excused and not have to serve. Sound familiar? A couple of friends (non lawyers) and I discussed this very topic this morning. They were upset with the amount of wasted time in the process and in some cases the attitude of the lawyers. I have been on the other side where we have waited for days to get a jury panel because not enough people showed up to serve. How can we make the process more streamlined, more pleasant and enjoyable? If you have gone to jury duty post a comment and let me know your experience good, bad or indifferent and any suggestions you have to make it better.
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