When opportunities like TVM come around, accessing capital that isn’t yours comes at a high cost. It’s unlikely to come from the bank with a reasonable 6% interest rate. To increase the share of settlements like TVM, loans from an alternative financier who charges an average of 20% per year is often a firm’s only choice.
A famous study conducted at Stanford University in the 1960s and 70s concluded that 4 year olds who deferred consumption of a marshmallow when promised a greater reward for waiting 15 minutes tended to have better life outcomes than those who opted for immediate gratification.
Opportunity, talent, and time: three of the most important factors that drive the financial return on any mass tort.
You identified TVM as a big opportunity, applied your time and talents to acquiring and navigating the cases and the return has proven to be substantial.
Now that Pradaxa attorney fees are on the move, we need to talk soon if you want to minimize the impact of taxes and leverage your fees on a pre-tax basis. Take a second to review the examples below. The numbers speak for themselves.
Call me before it’s too late. 513.518.5760
I’ve attended a bunch of Mass Torts Made Perfect seminars over the years (around 10 at last count), and as I return home from Vegas and reflect on the most recent installment, I can’t remember a time when more litigations were on the brink of resolution. Of course, this means a lot of “deal making” is going on behind the scenes, and mass tort attorneys are starting to believe they might actually see a return on their multi-year investment.
My Fees are coming....My Fees are coming....what are the next steps, is it too late? I keep waiting to hear Paul Revere on the other end next time I pick up the phone. For those that don't get the reference, substitute "The British" for "My Fees". LOL.
I just received my third call this week from an attorney who wanted to give me a big kiss (figuratively not literally). Why you may ask.........because all 3 had just met with their accountants' and couldn't believe what they heard. "No tax bill this year!"......"way lower than last year" , "why don't you do this with all of your fees" , "B.J. Is the smartest guy on the planet".....all right.....I made up the last quote, but the other 3 are actual quotes heard this week.
With all of the talk about Sequester these days, I thought I'd stick with the theme. We all have some idea about what the "sequester" is, but let me break it down for you; Forced cuts of key programs over a period of time. These cuts were predetermined by both Democrats and Republicans over a year ago. They were meant to kick into place if both sides couldn't agree on more balanced cuts and new sources of revenues.
Talk about a busy week....We were hanging with Sonny and Tubs early this week at AAJ in Miami at the FontainBleau......took in a Busta Rhymes performance at the closing ceremonies....and finished the week off with our friends at The Rainmaker Institute in Orlando learning how to grow our business.
All right....we weren't really hanging with my favorite TV duo of all time, but the rest is all true. I do have to say though....many of you sure acted and dressed like you were Sonny. LOL.
I was struck by recent comments by Phil Mickelson where he talked about retiring. What was he talking about...he's playing great. Of course, he later back tracked and said that maybe he would just move to a different state. Again....what was he talking about?
I know I used parts of this in a title before, but it was just too good not to use again. The "Club" feel/atmosphere really captures the spirit of Brook Hollow Capital and what we're about. Now what does that mean you may ask.......
Have you joined the club yet?...some of your competitors have. What am I talking about? What is this club? What are my competitors doing that I'm not? I'll tell you....they're using Brook Hollow Capital's loan program to DOUBLE their firms financial strength.
"Become your own bank"...that's the tag-line we keep using and many of you have heard us talk about. I want to make sure everyone is clear and understands what that truly means. The timing is important as well. With YAZ and Avandia paying out, it's the perfect time to start this process.
Brook Hollow Capital's phones have been buzzing a lot lately thanks to Bayer settling and paying out its Yaz cases. Each call is almost exactly the same..."what's the best way for me to manage these settlements?" The answer is simple...Establish a 468B qualified settlement fund, and use Brook Hollow Capital to help manage your cash flow.
As I’m out traveling with the Brook-Hollow Capital team meeting with Law Firms around the country, I see a common theme or problem with many firms. “Case Cost Handcuffs”. What do I mean? Oftentimes, a firm’s financing is a challenge because too much capital is tied up in accumulated case costs, a non-deductible expense. Eventually, those case costs will be reimbursed, but they can’t be deducted along the way and they are extremely inefficient, but necessary.
When I’m out with the Brook Hollow Capital team consulting with law firms and attorneys, one of the first questions we always ask is….”what have you done with your contingent fees in the past?” It would amaze you at some of the crazy answers we hear, but usually, the most common answer is some variation of “collected the fee, paid the taxes, and put the rest back into my firm”