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In Peaks and Valleys for Expert Witnesses construction site expert witness William Gulya, Jr., President & CEO, Middlesex Trenching Company, writes:

“The worst part of a tight economy is a lack of funds to properly represent clients [President Carmen Roberto of the Ohio State Bar Association]. As a defense attorney he has had to forego hiring his own expert witness and relied on cross-examination of the prosecution’s witness. A possible upside is that tools like mediation, designed to ease court dockets, are being used now to save money.” (“Economy has ripple effect on lawyers,” J.D. Bruewer, October 5, 2010, www.limaohio.com.)

There you have it from the source: Attorneys do cut back on expenses in a bad economy and may even forego hiring an expert that they would otherwise have hired in a better economy. This equates to a lower retention rate for experts. That said, and with all due respect to Mr. Roberto, this is generally a big mistake in most cases. As Melvin Belli Sr. said, “The cost may be high to employ the expert, but it may be well higher not to employ one. Indeed, counsel who chooses to proceed without an expert may be flirting with malpractice.” (Melvin Belli Sr., Trial Magazine)

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Forensic engineering expert witness Brad Shepherd, P.E., writes on power line incidents:

Overhead electrical power lines are installed on almost all major roadways and many other public and private rights-of-way. They are not insulated from contact (with few exceptions). When installed and maintained in accordance with the National Electrical Safety Code (NESC), they are safe as long as they are not approached (within certain limits) or touched by unskilled hands. However, contacts do occur and the result is always serious injury or death. These incidents usually result in litigation. The determination of why and how the contact was made and its preventability are the purview of the Forensic Electrical Engineer.

Mr. Shepherd has practiced professional engineering for forty years as an electrical engineer and engineering manager in industry.

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Airline industry expert witness Daniel Akins testified in New York bankruptcy court that American Airlines will need to merge with US Airways to recover from bankruptcy. Akins is a transportation economist with over 20 years of industry experience and has been involved in the restructuring of U.S. airlines including American, Continental, US Airways, United, and Hawaiian.

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In Peaks and Valleys for Expert Witnesses construction site expert witness William Gulya, Jr., President & CEO, Middlesex Trenching Company, writes:

One would initially think slower business might mean cost cutting on safety or reduced staffing causing overworking of employees, and higher productivity demands by management causing haste and a greater margin for error or bad judgment. Moreover, while some of this may occur, these are not the main reasons for a reduction in the retention of experts. When business slows, the incidents of product failure, construction accidents, personal injury, etc. slow with it. It comes down to simple math — less opportunity equals fewer occurrences.

Experts who have been practicing for several years, through bad or slower than usual economies, report having experienced increased negotiation of expert fees. Attorneys and referral agencies will actively negotiate in an attempt to lower the expert’s hourly fee. “It’s not personal; it’s just business.”

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In More effective use of experts in slip-and-fall cases –

The right expert will help you to better prepare the case and win it at trial, attorney David Reinard writes:

We all know slip-and-fall cases are among the most difficult to win. We also know that many people get seriously injured in falls, so we often are called to consider these cases and we are often tempted to take them. Some lawyers wisely use a “no breaky, no takey” rule to determine whether to even consider accepting a slip-and-fall (or trip-and-fall) case. And unless the case has catastrophic injuries,

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Insurance expert Ty Leverty was in the news reporting that customers pay up to 31% more for insurance when insurance companies have to comply with regulations in more than one state. The University of Iowa professor of finance has also studied how tort reform laws lower insurance premiums and save consumers money, dependent upon where the consumer lives.
Leverty’s paper, “The Cost of Duplicative Regulation: Evidence From Risk Retention Groups,” was published recently in the Journal of Risk and Insurance.

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Securities expert witness and Columbia Law School professor John Coffee commented this week on JP Morgan Chase & Co.’s $2B loss. The director of the Center on Corporate Governance at Columbia University Law School says the JPMorgan loss will incentivize the passage of banking regulations, i.e. limitations similar to the Volcker Rule.

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Captive insurance expert Stewart A. Feldman is lecturing at the University of Delaware’s Captive Insurance Risk Management Certificate Program, April 18 – June 6, 2012. Feldman, CEO of Capstone Associated Services, Ltd., is an expert on insurance companies established with the objective of insuring risks emanating from their parent group(s).

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In Peaks and Valleys for Expert Witnesses construction site expert witness William Gulya, Jr., President & CEO, Middlesex Trenching Company, writes:

No matter which field of expertise you specialize in, as an expert witness you will experience peaks and valleys in the number of cases you are retained to opine on in a given year.

This may lead you to question your marketing efforts. And that is not, in and of itself, a bad idea. Your marketing plan should be reviewed every six months anyway. But your marketing program may not be the problem — it may be the economy. Yes, even expert witness practices are subject to the effects of a bad economy.

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