Consumer Power — Procrastination and BP Oil Spill Claims

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I hope you are having a great week — after much chatter about it we finally got a bit of snow where I live in Birmingham.

Anyone ready for Spring?

When we look forward to something, we want time to “fly” by but when we dread something, we want to procrastinate.

Everyone procrastinates — the ones who say they never do are merely procrastinating telling us the truth….. 🙂

Here’s a quote I hope you find helpful — I’m reminding myself of this so I cut down on procrastination:

Someday is not a day of the week. Janet Dailey.

To beat procrastination, we need to just get started. Kind of like working out — if I put on my workout clothes and just get started, then I tend to finish the workout.

It is easier to resist in the beginning than at the end. Leonardo da Vinci.

So my encouragement to you — and to me — is to get started as that often fixes the little (big?) problem of procrastination.

What do we procrastinate that has a deadline in April?

Well, yes our taxes….. I’ve driven by the line to the post office on the 15th. 🙂 Truthfully, I’ve been in that line a time or two “I’ll never do this again!”….

But this time I’m talking about the deadline for business owners (we’ll define this below and it is very broad) to file a claim under the BP Oil Spill Settlement.

BP wanted protection from being sued so it agreed to a settlement — and a federal judge approved it — that prevented business owners from suing BP for damages.

In exchange, BP agreed any business in Alabama, Mississippi and Louisiana could submit a claim if they had the right “revenue pattern.”

Basically, this means during a three month period in 2009 your revenues were X, and then in the same time period in 2010 your revenues went down, and then back up in 2011. So there is a “V” shape if we graphed the revenues on a chart.

There is a lot more complexity to submitting a claim — we need accurate profit and loss statements, tax returns, etc. but we have clients that are going to receive anywhere from ten thousand dollars to in the hundreds of thousands of dollars.

But is this fair to BP as I can’t prove the oil spill caused the decline?

Yes, it is.

Because BP agreed to the rules of the settlement so it would not get sued. Now it is whining about it but the judge basically said “You begged me to give you this settlement and now because you under-estimated the cost, you want me to change the rules? Nope — you live with your agreement.”

(A similar situation is for veterans we represent who were in Viet Nam. The settlement is if you were “boots on the ground” in Viet Nam, then you are exposed to Agent Orange. If exposed to Agent Orange, and you have one of 14 diseases — including diabetes, prostate cancer, neuropathy, etc — then it is absolutely caused by Agent Orange and you can file a claim. No one tricked the goverment into this — it did it to buy its peace from being sued for exposing our service men and women to this deadly chemical.)

So I want to encourage you if you are a business owner — or know one — to look into your options. You cannot sue BP because you are bound by this settlement so you are playing by the rules — and one of the rules is you can submit a claim.

The deadline is April 22 but you can’t wait until then because there is a lot of work involved to make this happen. So take action now — no procrastination — it is easier to finish once you begin so begin by today.

Tony Robbins says:

Never leave the site of a decision without taking immediate action towards obtaining your goal.

So if you have made a decision to look into this, one of the first steps or “action” you can take is to request a simple sheet that will allow you to put your revenues on it and then we can see if you pass the initial test. If so, then we can send you more detailed information. There is no cost to you — this is done on a strictly contingency basis.

A business owner is someone who owns a business and normally also includes anyone who receives a 1099 so this includes:

Real estate agent Truck driver Salesperson Mortgage broker
All of these (and many more) are considered business owners even though we may not normally think of them as such because they work in an office “under” someone else or because they drive for a company.

If you have any question about whether you qualify, call us at 205-879-2447 and ask to speak to Carolyn or Randi and we’ll get you a simple sheet to fill out to find out if you are eligible for money damages.

Thanks for being with us this week and enjoy what appears to be much nicer and warmer weather and remember we are one day closer to spring…. 🙂

John Watts & Herring, LLC 205-879-2447

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