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Jackpot Justice for Big Corporations? It’s Good to be CEO

By Philip Thomas on October 31, 2011

A new report from the American Association for Justice accuses the U.S. Chamber’s Institute for Legal Reform of being “lawsuit-happy hypocrites.” Here is a link to the report titled “Do As I Say, Not As I Sue: Exposing the Lawsuit-Happy Hypocrites of the U.S. Chamber’s Institute for Legal Reform”.

According to the AAJ:

The Institute for Legal Reform (ILR), an arm of the U.S. Chamber of Commerce, has the sole mission of restricting the ability of individuals harmed by negligent corporations to access the civil justice system. According to the multinational corporations that finance ILR, American businesses are hindered by too many lawsuits. Yet these same corporations show no hesitation in liberally using the courthouse themselves.

Caterpillar for instance, one of ILR’s board members, sued Disney because it felt the depiction of bulldozers in the straight-to-video movie George of the Jungle 2 was overly villainous. FedEx, another stalwart ILR board member, took a “stand for justice” by suing a man for making a chair out of FedEx boxes. And Johnson & Johnson used the civil justice system to take on a most unlikely foe – the Red Cross.

However silly these lawsuits may sound, they share one common theme: the company filing the lawsuit had the Constitutional right to do so. What makes their actions shameful and hypocritical is that these companies are members of ILR’s board for the sole purpose of denying Americans this same right, especially when severely harmed or killed by the companies’ products and services.

 What the AAJ’s report does not mention is the compensation paid to the executives of the identified corporations. Here is the 2010 total compensation for the executives of some of the companies identified in the report:

  • Honeywell International: $14.8 million
  • Abbott Laboratories: $20 million
  • Johnson and Johnson: $21 million
  • Prudential: $16 million

But these guys are worth it because of all the jobs that they are creating, right?

The CEO of Gannett made $7.9 million. Think about that when you read the Clarion-Ledger and wonder what happened to your favorite writers.

What about Berkshire Hathaway CEO Warren Buffet, who says that the U.S. should raise taxes for the wealthy? $525,000. How about Apple CEO, the late Steve Jobs? $1 dollar. It’s good to see there are some wealthy people with integrity and who are not emptying the vault into their own pockets.

Look at this chart and think about how Americans are struggling. This is the fuel for the Occupy Wall Street movement.   

  • Posted in:
    Appellate, Civil Litigation, Insurance
  • Blog:
    MS Litigation Review & Commentary
  • Organization:
    Philip W. Thomas Law Firm
  • Article: View Original Source

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