The Gloves Are Coming Off

 

 

In the continuing battle over tort reform in Tennessee, Governor Haslam now says there is no room for negotiation in his proposed legislation that will limit damages on non-economic and punitive damages in civil suits (among other items).  According to an article in The Tennessean, the administration proposed changes to the bill late last week that would create a special category for “catastrophic loss,” which would raise the cap for non-economic damages to $1.25 million in cases involving serious spinal cord injuries, severe burns or the death of a parent of minor children.

 

On the other side, representing the Tennessee Association for Justice, is Senator Fred Thompson, who says the bill is a good starting point but that more changes will need to be made to reach an agreement.

 

Read the full article here.

 

Pictured below at a recent TAJ event here in Nashville is Advocate Capital, Inc. CEO, Michael J. Swanson (center) with Senator Thompson (left) and TAJ President, Philip Miller (right).  Senator Thompson was the keynote speaker at the TAJ meeting in March and gave an update on the tort reform struggle.

 

Paul B. Myers

Chief Credit Officer

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Benjamin T. Cochran Elected to North Carolina Workers’ Compensation Council:

Please join us as we congratulate friend and client, Benjamin T. Cochran, Managing Partner of Hardison & Cochran, P.L.L.C. on his recent election to the North Carolina Workers’ Compensation Section Council.  Attorney Cochran has been representing injured workers in North Carolina since 2002.

When not in the office pursuing justice on behalf of their clients, the folks at Hardison & Cochran are out supporting their community.  Last week members of the Firm participated in the 2011 MDA Muscle Walk in Apex, NC, raising over $60,000.00 for their cause.  On March 19th members of Hardison & Cochran participated in the 2011 National Association of Women in Construction (NAWIC) Charity Poker Run benefiting a number of great charities.

At Advocate Capital, Inc, we believe in what our clients do as they pursue justice on behalf of their clients and we are proud to be a part of the great work that they do.

Lisa Wagner

Vice President, Client Services

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Advocate Capital, Inc. Has Gone Social!

 

ACI is diving into the social realm of Facebook. With this medium we will be sharing relevant and exciting information regarding today’s busy lawyer and the law practice industry. We are excited to connect and interact with you, so come be a part of the conversation in our community!

 

While you’re on our page be sure to click “Like” so you will have access to future updates.

 

 

Tina R. Burns

Marketing Manager

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What is Interest?

A few months ago, our Chief Credit Officer, Paul Myers, blogged about a great training resource called Khan Academy.  I’d like to draw your attention to this video from Khan Academy that does a great job of explaining what interest is.  (It’s basically the “rent” you pay for using someone else’s money).

The video also does a pretty good job of explaining the difference between compound and simple interest.  This is something everyone should know!

Michael J. Swanson

President and Chief Executive Office

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Spring Cleaning Is Here – Don’t Forget Your Mailbox!

 

We all know that with the arrival of Spring (officially Sunday, March 20), comes our annual clean fest for both home and office. 

 

Take this opportunity and remind your staff to “clean their email box!”  Not only does this enhance the speed and performance of email accounts, it also helps control server utilization.  

 

 

Microsoft Outlook recommends these practices:

 

  1. Archive the old items regularly when prompted
  2. Empty the “deleted mail” folder regularly
  3. Empty the “sent items” folder regularly
  4. Store large attachments (photos, documents, etc.) on the hard drive, not in email.

 

A clean mailbox is a happy mailbox!

 

Donna A. Jones

Vice President, Operations

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Tort Reform Showdown in Tennessee

 

As Mike Swanson previously blogged , the Tennessee Association for Justice has retained former GOP heavyweight, Fred Thompson, as its primary lobbyist for the 2011 Tennessee General Assembly session.  I had also previously blogged about newly-elected Governor Haslam’s efforts to introduce tort reform to Tennessee.

 

Not surprisingly, these two issues are now merging and will become significant in the near future.  The Tennesseean reported in a recent article that the showdown between Haslam and Thompson should be one of the most interesting matchups of the 2011 Tennessee General Assembly.  The article describes the firepower that Thompson should bring to the table for the TAJ and gives a good overview of the pending legislation that is pending before the Tennessee House of Representatives judiciary subcommittee.

 

Paul B. Myers

Chief Credit Officer

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What’s NOT in Your Credit Score

 

Continuing my theme of my posts yesterday and Monday, here is some more good info from MyFICO.com.  Yesterday I pointed out an article that explained what factors go into calculating your credit score. 

 

 This article is the reverse of that.  It lists the factors that are not included in a credit score.  Did you ever wonder if things like your employment history, where you live, marital status or your age can affect your score?  Click here to find out.

 

 

Michael J. Swanson

President and Chief Executive Officer

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How Are Credit Scores Calculated?

 

As a follow up to my blog post yesterday, here is another article on MyFICO.com that helps explain how credit scores are calculated.  They don’t share the actual formula (which is reported to be quite complex) but they do share the basics. 

 

Michael J. Swanson

President and Chief Executive Officer

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How to Improve Your Credit Score

 

Do you know your credit score?  A good credit score can save you lots of time, money and aggravation.  Click here for a helpful list of tips from myFICO.com.  Take a moment to review it and then take action!

 

Michael J. Swanson

President and Chief Executive Officer

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The Lady Doth Protest Too Much!

 

Despite much wailing and gnashing of teeth about health care reform and the need for tort reform, the nations’ seven largest publicly traded insurers saw their profits increase in 2010, according to a recent article in American Medical News.

 

The profits came as a result of spending less on care and using income to buy back their stock to boost per-share earnings.  Medical loss ratios (the percentage of each premium dollar spent on medical care) actually dropped for 6 of the 7 biggest health insurers.

 

Executives at the companies are also projecting strong results for 2011.

 

Paul B. Myers

Chief Credit Officer

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