It’s amazing to read some of the stories: LA Times; Birmingham News; and The Wall Street Journal. Attorneys are gravitating to the gulf coast to get in on the action. It’s like heading to the casino, but the odds are a lot better that these attorneys will profit.
Litigation costs, discovery costs, attorney fees. This is where a lot of the money will go. Think of the good use for that money. Instead of the incredible litigation costs and fees, it could help with the cleanup. The funds could help replenish business funds and tourism losses.
If only reasonable minds could prevail. Can they? Can the executives of BP come forth and say, "Let’s sit down and work this thing out." Can attorneys suck up their egos and talk to their clients about coming to the table with BP? Can the injured parties be reasonable and not look for a windfall? Probably not.
Why? Well, the lawyers see a big payday. The gulf coast and surrounding businesses are angry and want BP to pay. And, BP probably won’t be forthcoming and own up to their responsibilities.
What if the attorneys agreed not to take a fee from their clients? What if BP offered to pay attorneys to help them reach a resolution which satisfied and compensated all interests? What if the conflicts could be worked out and reasonable minds did prevail? What if?
Unfortunately, greed will probably control. BP is greedy and doesn’t want to let go of their money. The local individuals and industries are greedy and want to get as much as they can. And, the attorneys are greedy. They see their lottery winnings coming in.
Where do you come out on this issue? Do you want to see prolonged litigation? What’s your solution?