As a personal injury attorney who recently won a $100 million dollar verdict on behalf of a teen who suffered brain damage, Dan Newlin discusses what goes into valuing a settlement. Most cases in Florida never reach the trial phase because both side negotiate a personal injury settlement.
A personal injury settlement occurs when a defendant gives a plaintiff a lump sum of money. In exchange, the plaintiff agrees to give up all rights to sue for current and future injuries. Since a plaintiff gives up her right to sue, it’s important to understand how a fair settlement is calculated. Dan Newlin was also written about by Avvo.com
Newlin wants to stress that calculating a fair settlement isn’t straightforward. The first thing you need to do is compile all claim-related records and documents together. These include:
• Pay stubs
• Medical bills
• Documents listing the times and dates when you missed work or school
• Property damage estimates
This is the type of information your attorney will need to determine how much money to request from the defendant.
Economic or Non-Economic Damages
A plaintiff is usually eligible to receive economic or non-economic damages depending on the injury. Economic damages are really easy to calculate because all an attorney shows is the documents you’ve given him from the list discussed earlier. Economic losses also include future medical bills, lost income, and property damage.
Non-economic damages are harder to prove because they are the consequences of an injury. Damages listed under non-economic damages are things like:
• Pain and suffering
• Mental anguish
• Emotional impact of you injuries and/ or the underlying accident
Will the Defendant always Offer a Fair Settlement?
Unfortunately, the answer is no. You have to remember the defendant and his attorney is trying to pay you as little as possible. So during the negotiation phase you may not receive anywhere near a fair settlement offer from the defendant. That’s why it’s vital to get an experienced attorney who knows how to aggressively negotiate a fair personal injury settlement.
What if the Insurance Company Offers You a Settlement Offer?
Attorney Newlin stresses to anyone offered a settlement to contact a personal injury attorney. Whether it’s a defendant or insurance company, you need to determine if the amount is fair.
What is a “Fair” Personal Injury Settlement?
A fair personal injury settlement is one that covers all your current and future damages. The last thing you ever want to do when injured by someone else is to be left with unpaid medical bills or other expenses.
Attorney Dan Newlin is a former police officer who is now a personal injury attorney in Florida. He has experience in various types of personal injury law and has negotiated many settlement offers.
From a corner office in Soho, immersed in a Sci-fi themed desk area to an elegant suit and tie gala in Miami, Adam Sender has seen it all. Adam Sender, a funds capitalist, injects a high dose of pure life into the art scene as he sells off his massive art collection and showcases exhibitions along the way. Since the mid 90s, Sender has been buying exquisite art pieces at reasonable prices for his own private collection, and just recently, the newly divorced hedge funds manager decided to sell most of his collection. During one of the events for his company, Sender met and befriended Sarah Aibel, an art enthusiast and curator. In love with her style, Sender employed Aibel to go out and find new pieces for his art collection. Later, he allowed her to decorate his posh Miami home for extravagant exhibitions which aimed to sell off some of his collection. So far, he has made almost 70 million in profits from selling his art, and it is estimated that his collection is worth nearly 100 million if not more. Some of the featured artists include Ed Ruscha, Chris Ofili, and Richard Price. Although you can pretty much find this international rich playboy anywhere all over the world, Adam Sender’s story starts in New York where he is originally from.
After graduating college with honors, Adam quickly gravitated towards two things: art, and finance. Sender’s sharp wit and impressive know how soon attracted the attention of another famous Wall Streetian: Scott Cohen. After viewing Sender’s prolific trading portfolio, Cohen asked him to join his new firm, the legendary SAC Capital Group. It was at Cohen’s SAC Capital firm that Sender would hone both his art collecting skills, and his financial knowledge, and make a name for himself in the Wall Street financial industry. He worked with Cohen for more than 6 years, before later branching off to start his own company: Exis Capital. Check out Adam Sender on LinkedIn.
Although the company is now defunct, it was at Exis that Sender made over a billion dollars and enlivened his passion for art collecting, which believe it or not, is shared by a lot of other investment bankers. Larry’s List is a popular website for art collectors and new artists to compile art collections and connect with people in the art world. The website frequently features in depth personal articles and interviews from some of the hottest collectors on the scene. According to Larry’s List, over 21% of American art collectors are prominent financial investment officials, or wealthy venture capitalists who specialize in managing hedge funds and large equities. “The traders are so focused on finance, the art gives them a break,” says Sarah Aibel.
The current global economy has been growing in recent years. Most of the gains in the world economy and the US economy have come from capital gains, stock market trading and wise investing. With this in mind, all Americans have been searching for the greatest economic minds to listen to. Hopeful investors read financial advice through multiple media everyday, searching for the soundest advice that can earn them a little extra, grow their retirement or college funds and create a nest egg for later in life or in times of need. While hordes of economists, businessmen and journalists alike attempt to provide this sage wisdom to the masses, very few have consistent success in guiding people with strategies to create consistent returns on their investment. While there are many leaders to deliver this advice, I will outline a few with a variety of reputations.
First is Warren Buffett. He is by far the most well-known and well-trusted financial adviser in the country, if not the world. He has grown Berkshire Hathaway to become one of the wealthiest people in the United States, reaching the height of the wealthiest person in the world in 2008. He is known as the “Oracle of Omaha” and is a strong proponent of value investing and living a frugal lifestyle.
While Warren Buffett comes from a savvy business perspective, the second economist featured comes from a more academic background. Christian Broda is currently the managing director of Duquesne Capital Management, and has served as adviser to such firms as Lehman Brothers and Barclays. Additionally, Dr. Broda has a Ph.D. from MIT and has won NSF grants for his research. He was a professor at the University of Chicago for 5 years, and has held many other positions that solidify his expertise in the field of economics.
The third economist profiled here for their sage advise on the inner workings of the financial system is James Heckman. Heckman is a distinguished professor at the University of Chicago, and has conducted groundbreaking research that has the potential to guide future generations in their views of the American economic system. While Dr. Heckman focuses on guiding economic policy, his advice and evidence has the ability to alter the spending of the largest economy in the word and everyone within it.
In conclusion, depending on the facets that you are interested in, each or all of the previous economists may be of interest to you. Following all three will provide you with three intelligent and knowledgeable experts with unique perspectives on the economy.
The most significant worldwide financial crisis since the Great Depression of the 1930s began in 2008 precipitated by a bevy of factors such as the implosion of the subprime mortgage market, dubious underwriting practices, specious financial instruments as well as poor regulation. From an institution level, the financial crisis resulted in a significant economic recession with the collapse of numerous financial institutions such as Lehman Brothers and Merrill Lynch.
The repercussions of what occurred at an institutional level has been profound for many citizens at a local level. Many hardworking people within and outside of the financial sector have experienced painful losses in terms of their savings, homes and employment. Many of these losses will be irrecoverable leaving some in a position where they have been forced to start over from scratch. Given the significant costs of crisis at both an institutional and individual level, new regulations have been introduced to curtail risk-taking. Learn below of these changes, their impact for the industry and one of the key financial players who are navigating this new world to generate wealth for their clients and society as a whole.
In the aftermath of the financial crisis and recession, the Dodd-Frank Act became law that seeks to enhance the regulatory landscape by raising capital requirements of not only formal lending banks but also private equity firms, hedge funds and other investment houses. In the aftermath of these reforms, investment houses such as Goldman Sachs were converted to bank holding companies (BHCs) to receive federal government bailout capital.
Prognosis for the Future of Banking in the Future
Given the new climate of increased regulation and muted risk-taking, many banks that survived the crises have struggled with declining fees for their services. The lack of fees and new regulation has curbed compensation and bonus packages, even though compensation remains elevated compared to other industries.
Leader of the New Era – Ken Griffin
Despite the limiting climate in the financial industry, there are a bevy of leading figures who possess the acumen to navigate it and create outsized gains. One of these figures is Kenneth Griffin. Griffin began trading investment vehicles from his dorm room at Harvard University in 1987. Subsequently, Griffin came to the attention Frank Meyer, a hedge-fund pioneer and co-founder Glenwood Partners based in Chicago, Illinois. Following his success with Meyer at Glenwood Partners, Griffin established his own firm Citadel in 1990. The firm features a versatile range of assets including alternative asset management and solutions for investment management technology.
Griffin serves as an active supporter of educational efforts that enhance community development. He sits on the Board of Directors of the Chicago Public Education Fund. Griffin has endeavored to improve the lives of others by donating more than $250 million of his own wealth and through his Citadel Foundation. He donated $150 million in financial aid support to Harvard, which was the largest gift the institution had received at the time.
Talent management is one of those things that people don’t usually think of in their day to day routine unless that are directly involved with it. However, for those who depend on this industry, either because they work in it themselves or they need to find an agent to promote them, talent management becomes a very important topic, indeed. While this is something of a niche industry, it is much more widespread than many people often give it credit for. People need agents for all sorts of things. It is not just actors and actresses that require people involved in this industry. Instead, these individuals are joined by people in the music industry, the art industry and in sports.
There are relatively few individuals that actually specialize in talent management related to individuals involved in sports, as well as entire sports teams. However, one such individual is Susan McGalla. She has dedicated her life to talent management. As a result, she has become a forerunner when it comes to the way that sports individuals are managed. The same can be said for the way that sports teams are promoted. In fact, she has been instrumental in promoting the popular NFL team, the Pittsburgh Steelers. She began her career as a business professional and later became an executive consultant. Graduating from Mount Union College, she started working in the field of talent management and she has not looked back since.
This is an an extremely competitive market and much of it requires that a certain group of people simply beat the others to the punch. This is one of the things that has made her so successful. She has spent much of her life working diligently to ensure that her clients are properly represented and that she gives them every opportunity to succeed that she possibly can. In sports marketing, individual players often find themselves in a situation where they need the help of someone that has the type of understanding that she possesses. That is one of the biggest reasons that entire sports teams utilize her skills. The industry requires someone that has a proven track record, as well as the ability to think outside of the box and innovate constantly. The general public has a tendency not to pay attention to people that fail to create the next new, exciting thing. Therefore, this becomes one of the hallmarks of any person that is successful in talent management.
In any industry, people rely on the individuals that are able to get the job done in the shortest possible amount of time. They also require people that are professional enough and skilled enough to find success in places where others have only failed. This is even more true in an industry that is so competitive, where time is of the essence and success is made and destroyed on a daily basis. Therefore, it is relatively easy to understand why so many people choose to work with an individual such as McGalla that has the capability to make things happen, even the face of challenges.