"But DW...
apparently we arent tired of that system, since we DO keep paying those ticket prices.
As far as that attorney commanding $300-$800/hr being satisfied...
thats like telling the athlete that he should be satisfied with the $8,000,000/year he is currently receiving, and not entertain offers from another team for $15,000,000.
If an attorney can get a jury settlement for $100,000,000 that nets him $30%...why would he be satisfied with "only" $500/hr in fees?
Really, the problem with just settlements isnt the settlements....or the attorneys..
its the juries themselves. We need to change th elaws not to regulate the awards, but to regulate the juries. We are allowed, as a constitutional right, to be tried by a jury of "our peers". The way they define "peer" is what is so wrong any more. Anderson County and preston lost the lawsuit to Hunter because a jury of low income people was allwoed to decide the case.
If it had been a jury of financial and managerial types, which would have been "peers" to both Preston and Hunter, had decided that case.....
how do you think it would have turned out????"
P-N, I believe you are EXACTLY right in terms of the makeup of that jury. Granted, attorneys get a certain # of strikes each in picking the jury, but, and this is no slam on Anderson, but just reality, but you probably could have tripled the # of strikes the County's attorney got in the case as the defendant against Hunter and still wouldn't have ended up w/ 1/2 the jury selected understanding the issues of him being a poor performer and the impact of the County getting qualified audits, and the additional costs and risks that brought to the County. And, the reality of it is, even though the County lost this suit, they lost short-term, but won long-term b/c they got an incompetent person out of that role and dramactically improved the Finance function, and over the years, I suspect have recouped that $$$ multiple times. Having incompetent/negligent people in important roles can be about as bad as having dishonest people......both cost you $$$ and reputation, in particular in Finance roles.
P-N, I didn't say the system had changed and people were no longer willing to pay $50 - $100 or more per ticket to a game or race.....I simply said I wish the market would send them a signal they are tire of paying that much and result in prices coming down. However, in sports, w/ our economy in the shape it is in, you are beginning to see teams, etc. struggle a little. NASCAR is struggling to fill seats at its venues and losing sponsors. When in the past do you recall Bristol having to advertise right up to the race (saw one this week) to attempt to fill the seats for this week's race? For many years, it has been a waiting list sort of deal, as I understand it. Up the road, the Bobcats are losing millions upon millions (why Jordan was eager to sink a substantial portion of his cash in the Bobcats is beyond me, other than maybe he's not too bright). There are rumblings the Panthers are going "cheap", b/c they are struggling a bit. There are quite a few franchises in pro sports that are beginning to struggle, and maybe you will see wasteful spending on washed up players and ticket prices come down to fill up seats.
Attorneys........the really, really good ones get to choose whether they enter a deal w/ a client to be paid on the hour, or on contingency, or have an arrangement where they get paid their high hourly rate, and if the settlement is more than their hourly rate, language is included in the agreement the attorney gets paid his 1/3 or 1/4 share (whatever the agreement says), less hours fees already paid by the client....so if a client has paid $70,000 to the attorney and they settle a case for $300,000, the attorney gets his 1/3 share ($100,000) by taking $30,000 more out of the settlement amount to bridge the gap. Those attorneys are more like the elite athletes of attorneys.....i.e. the Drew Brees, etc. guys.....and then you have the Jake Delhomme's of attorneys, and of course, the ones that are like journeyman players and D-League guys.
The issue you raise w/ "peers" in terms of a jury is exactly right....for it to be fair, to both sides, in the interest of justice, they have to have the capacity to understand the issues. That's the problem our state has w/ Commissioners that get appointed to the likes of the Employment Security Commission (which is trainwreck, compared to other states, such as NC) and our Public Service Commission.....those are political appointments and many of those guys and girls do not understand the issues they are being asked to make decisions on. That issue goes beyond our court system, but you are exactly right.