Texas Tobacco Suit
Jackpot For LawyersAUSTIN Far be it from
us to dump on lawyers, even greedy ones, but a mailing
this week from a coalition of business and legal reform
groups has put the attorneys share of the Texas
tobacco settlement into new perspective. It is so
mind-boggling we had to share it with our readers before
we burst.
At issue is whether Texas owes a group of five private
attorneys $2.3 billion in legal fees for work they did to
coerce a $17.6 billion settlement out of a group of
tobacco companies. The lawyers (surprise!) and Texas
Attorney General Dan Morales say it does. Gov. George W.
Bush and a bipartisan group of legislators says whoa.
The issue is almost certain to end up in one or more
courts before it is settled, but Texans for Reasonable
Legal Fees has put a pencil to the dollar figure in an
effort to bring the number down to earth in a form
understandable to mere mortals like us. And boy, did they
succeed.
According to their simple calculations, if the five
lawyers in question worked eight hours a day, seven days
a week for 18 months, they each would have amassed 4592
billable hours of work. To justify a payment of $2.3
billion, each lawyer would have to bill the state
$105,022 per hour!
Even if they paid 100 additional lawyers $300 per hour
each, the reform group adds, their remaining take would
still be $99,022 per hour.
And if those numbers are still too difficult to grasp,
the group points out that the $2.3 billion these five
lawyers are demanding would pay the average annual
salaries of 75,000 Texas teachers.
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