Posted On: February 18, 2005, 1:29 pm CST

Posted By: nick

Tom,I have not misunderstood your position as you stated. I previously responded because the McD settlement is a case study that demonstrates how far the legal system has degenerated. When there is a cash rich opportunity like McD there will always be an attorney willing to file suit even for serving a hot cup of coffee. You mentioned "settlements are favored by the courts." You should have added they are needed because the courts are mired down in a back log of new and ongoing suits that they can no longer handle in a timely and responsive manner. You mentioned McD settled but they "did not have to settle." If they did not settle the bleeding associated with the ongoing defense costs in a protracted case are enormous. It is more cost effective to settle quickly and early regardless of culpability. You mentioned that among the beneficiaries of the settlement were charities. How about the plaintiff attorney? I wonder if he or she donated his or her contingent check to a charity. You stated you are member of the defense bar and in many cases you have won. I would suggest you read today's WSJ article on President Bush's impending signing of the landmark bill on class action suits. Read how the plaintiff'lawyers are rushing to file as many class action suits in various state counties in order to beat the deadline. One county in Arkansas had five class action suits filed in one week compared to one for all of last year. Read about the $173.9 BILLION YES BILLION in legal defense and settlement costs paid by the insurance industry in 2003 which is up 36% from 2000. For the basic commercial liablity policy these costs are 46.7% of the total claim cost. With this amount of revenue and percentage increases, I can see why the legal industry tries to defend itself. The good news is the insurance companies may now be able to expand and offer addtional coverage at a lower price to their customers. The bad news is the the plaintiff'lawyers are already looking for ways to circumvent the bill. As I said before, the burden our country incurs in carring the costs of supporting a run away legal environment is robbing us of new job creation, increasing wages and innovation.