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Started By
Message
Louisiana may have lost out on 50,000 jobs; $3 billion because of legal environment
Posted on 5/9/23 at 3:26 pm
Posted on 5/9/23 at 3:26 pm
quote:
Data released Tuesday from the tort reform group Louisiana Lawsuit Abuse Watch says excessive civil court costs led to the loss of nearly 50,000 jobs in Louisiana and $3 billion in personal income losses.
The group also says excessive lawsuits are costing Louisiana residents $1,200 each in the form of what the group calls a “tort tax,” as well as state government losses of $270 million and local government losses of $225 million. The state’s legal climate also cost the state’s gross domestic product approximately $5 billion.
According to the data, both of Louisiana’s two largest metropolitan areas—Baton Rouge and New Orleans—were hit hard economically by the state’s tort system.
quote:
In the New Orleans area, excessive litigation cost residents $2.5 billion in personal income annually and the loss of more than 36,400 jobs each year. The "tort tax" in New Orleans amounts to $3,039 per person, with direct costs to both residents and businesses of $2.7 billion each year. The group also estimates $3.9 billion in gross product is lost due to excessive litigation.
According to the data, Baton Rouge residents lost an estimated $690 million annually in personal income, with 10,000 jobs lost each year in the Capitol Region. Businesses and residents lost nearly $743 million annually in direct losses, while the area's gross product shrinks by $1 billion each year.
quote:
"Unfortunately, lawsuit abuse continues to impact Louisiana's citizens, businesses, and overall economy – specifically in its two largest MSAs," said Lawsuit Abuse Watch executive director Lana Venable in a news release. "Our civil justice system exists to determine liability and provide a means to settle legal disputes, but an overly aggressive system is damaging to our economy, creating impediments to productivity and economic development."
Louisiana's legal system was ranked 49th by the U.S. Chamber Institute for Legal Reform's most recent Lawsuit Abuse Climate Survey, which measures balance and reasonability of each state's tort system. Louisiana was also ranked seventh in the 2022-23 Judicial Hellholes Report authored by the American Tort Reform Foundation.
LINK
This post was edited on 5/9/23 at 3:28 pm
Posted on 5/9/23 at 3:28 pm to member12
This isn't news to anyone that knows anything about Louisiana
Posted on 5/9/23 at 3:29 pm to member12
quote:reppin that 225 area code baby
local government losses of $225 million
Posted on 5/9/23 at 3:29 pm to member12
Morris Bart has to sit courtside next to Willie Green somehow.
Posted on 5/9/23 at 3:29 pm to member12
JBE and his lawyer baws smiling while counting your cash.
Posted on 5/9/23 at 3:33 pm to member12
quote:
Louisiana was also ranked seventh in the 2022-23 Judicial Hellholes Report authored by the American Tort Reform Foundation.
We were 6th in the 2021-22 report. Progress!
Posted on 5/9/23 at 3:35 pm to member12
quote:
The group also says excessive lawsuits are costing Louisiana residents $1,200 each in the form of what the group calls a “tort tax,”
But with NIL, this is basically just an LSU athletics tax so at least we are getting something out of it now
Posted on 5/9/23 at 3:36 pm to member12
I’m sure that is some nonpartisan data.
Also didn’t we do tort reform under edwards?
Also didn’t we do tort reform under edwards?
Posted on 5/9/23 at 3:36 pm to member12
I don't dispute that there's probably some truth to this, but a group that calls itself
May not be the most impartial source.
FWIW a relative of mine is a member of a similar group in Texas and contributes substantial amounts toward their efforts. He is also one litigious SOB and keeps his own team of lawyers busy. He never saw a business rival that didn't need suing or a contract that didn't need breaking.
quote:
Louisiana Lawsuit Abuse Watch
May not be the most impartial source.
FWIW a relative of mine is a member of a similar group in Texas and contributes substantial amounts toward their efforts. He is also one litigious SOB and keeps his own team of lawyers busy. He never saw a business rival that didn't need suing or a contract that didn't need breaking.
This post was edited on 5/10/23 at 11:07 am
Posted on 5/9/23 at 3:37 pm to member12
Louisiana plaintiff attorneys are absolute scumbags. It is always baffling how proud those bottom feeders are of themselves.
Posted on 5/9/23 at 3:38 pm to member12
May have?!
The amount of money this state has lost because of the legal environment and how unfriendly it is to business will never be known.
And it’ll will only get worse as we continue to elect these trial lawyers.
The amount of money this state has lost because of the legal environment and how unfriendly it is to business will never be known.
And it’ll will only get worse as we continue to elect these trial lawyers.
Posted on 5/9/23 at 3:40 pm to member12
The way LSU is getting in bed with the scum bag injury lawyers really has turned me off of LSU athletics.....one of the worst blights in a state full of blights.
Posted on 5/9/23 at 3:40 pm to member12
I don't see their suggestions to fix it, which raises questions.
Posted on 5/9/23 at 3:40 pm to Taxman2010
quote:
Louisiana plaintiff attorneys are absolute scumbags. It is always baffling how proud those bottom feeders are of themselves.
They get beefed up because of how easy it is for them. Not really quality of work for those guys but volume.
Posted on 5/9/23 at 3:44 pm to member12
So...some people want the potential lawsuit lottery payout vs jobs/lower cost of living?
Posted on 5/9/23 at 3:45 pm to member12
Louisiana sucks, news at 10.
Posted on 5/9/23 at 3:53 pm to member12
But LSU need ms that NIL money they give
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