Lawyer Money Grab of the Day

via Foxnews.com

Supreme Court to Review $2.5B in Damages Owed by Exxon Mobil Corp. for 1989 Oil Spill

WASHINGTON —  The Supreme Court on Monday stepped into the long-running battle over the $2.5 billion in punitive damages owed by Exxon Mobil Corp. for the Exxon Valdez oil spill in 1989.

Eleven millions gallons of oil spilled into Alaska's Prince William Sound when the supertanker ran aground on a reef. A federal appeals court already had cut in half the $5 billion in damages awarded by a jury in 1994.

http://www.foxnews.com/story/0,2933,305880,00.html


Posted Oct 29 2007, 09:51 AM by Splittfinger

Comments

Desechado wrote re: Lawyer Money Grab of the Day
on 10-29-2007 11:36 AM
This is a tough case. 2.5 billion is excessive. I'm torn becaue Exxon went way out of their way to clean the spill. Consider how much was spent. They certainly took a loss, even if the cost was only be a couple weeks of profit for the company.

Clearly the company understood the responsibility for the actions of those they employ while on company time. If they didn't, they wouldn't have gone out of their way to clean the mess and own the penalties(spending 3.4 billion in cleanup and penalties). My question is why are they playing the "it's the employees fault and why should we pay" song and dance? The other question is how much are the attorneys getting out of this???
Melchor wrote re: Lawyer Money Grab of the Day
on 10-29-2007 3:02 PM
one thing about you capitalists... you don't want everything that comes with running a business. your willing to take the money and run, but when you have to pay out of your own pocket for any reason, the responsibility is transfered or avoided.

one good thing about exxon... they did take the initial step and spent a boat (pun intended) of money for cleanup. as a matter of fact, i think some new, environmentally & biologically safe ways of cleaning the water, shore and animals were introduced.
Splittfinger wrote re: Lawyer Money Grab of the Day
on 10-29-2007 4:34 PM
once again, Melchor thinks capitalist are about money.
Melchor wrote re: Lawyer Money Grab of the Day
on 10-30-2007 9:38 AM
i'm tired of asking splitt for his definition of capitalism when ever he contradicts me such as the comment above. here's why i say what i say about capitalism:

Via Wiktionary:
Capitalism: (economics) a socio-economic system based on the abstraction of resources into the form of capital, whether privately or state owned and regulated.

Capital: (economics) Money and wealth. The means to acquire goods and services, especially in a non-barter system.

Nothing wrong with money and wealth, so why deny it.


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