Did you hear the one about the tremendous success of the GCCF? About how much money it paid out? About all the good it did? About how it barely made a mistake, didn’t low-ball claims, didn’t deny any legitimate claims and was certainly more generous than any court? No? Well, I’m sure Ken Feinberg would love to tell you about it, and he soon will… … Continue reading Hey Ken, don’t let the door hit ya in the…
When Ken Feinberg took over administration of BP’s $20 billion dollar fund, he stated many, many times one of his primary objectives was to keep people out of the court system…ahhhh yes, do you remember those halcyon days, back when the Macondo well had just been capped, when hope was beginning to spring eternal and Feinberg dove into the scene, promising claims offers bigger than any the … Continue reading Keeping em’ outta court…
On Wednesday, Ken Feinberg attended a meeting in Jefferson Parish where local fishermen, oystermen, shrimpers and crabbers weren’t as celebratory of his efforts with the GCCF as the law students were when he recently spoke in Ireland. Harlon Pearce, owner of LA Fish & Seafood asked, “How do we go out and market this product, when we’re worried about having a product to market?” This is becoming … Continue reading Feinberg back in Jefferson Parish…
Ken Feinberg recently visited Dublin as part of the US-Ireland Alliance where he gave a talk to Trinity College law students, and then an interview to the Irish Times. During both engagements, he spoke of the cottage industry he has established as a mediator for a variety of compensation funds, including his role with the GCCF. When discussing his role in the Gulf, Ken said, … Continue reading Ken’s world tour – next stop, Dublin…
…the parking lot empty at DoRan Seafood? One of the largest employers of Independence, Louisiana, the DoRan seafood processing plant is mostly shut down, “Usually in October, this time of year we usually run about 10 to 12 hours a day, five days a week, with about 40 to 50 employees,” said the owner, Randy Pearce, “As of the end of September, we’re looking at … Continue reading If everything’s so good, why then is…
How about a conversation with Ken? The man, the legend? Mr. Ken Feinberg? He first came to you as the special master of the 9-11 Victim Compensation fund, and even though he experienced mixed reviews, he went on to wow you with his follow-up as special master for the TARP Executive Compensation Review. Yes-sir, we called him “Pay Czar” back in them days. Well hold onto your … Continue reading So, what are you doing November 14th?
Feinberg has maintained that periodically he will be taking a look at the GCCF, it’s claims structures and the state of the Gulf to determine whether any modification to payments is necessary. It is this reappraisal which led to the changes last August where businesses had to show a growth rate of five percent to qualify for continued payment of interim claims. This is also … Continue reading Ken Feinberg’s next modification…
A new study published this week in the Proceedings of the National Academy of Sciences Journal reports the killifish, a small but abundant species found in Louisiana’s marshes was hurt severely by the spill and now is turning up deformed and may be unable to reproduce properly. The scientists say the damages to the small fish are effecting the gills, intestines and cardiovascular organs, “They … Continue reading Gulf’ll be fine by 2013, right Ken? Not according to…
Ken Feinberg, British Petroleum employee and steward of the BP claims fund wrote himself a little editorial the other day in Bloomberg Businessweek titled: How to Give Away $5 Billion. The article came complete with an illustration of a man, presumably Ken, holding a money bag while outstretched, demanding hands come in from outside the border of the drawing and there, in a nutshell, is everything that’s wrong … Continue reading Feinberg ain’t no Santa Claus…
In a column for KeysNet.com, a CPA relays his experiences with the GCCF, and what you will find is a professional organization working with the highest of ethics, a strong sense of mission and unimpeachable fairness, consistency and compassion for the aggrieved Gulf Coast. Oh wait, Feinberg didn’t write this column. This one was written by Larry Kendzior and what he tells of is frustration with an arbitrary system, one filled with error, false promise and … Continue reading A CPA’s view of the GCCF…
Drake Toulouse: Photography and Words 