Trial lawyers, whoop it up! Because even when you lose, you win.
Man, what a profession.
You've been smacked silly by Merck & Co. in trial after trial, state after state, year after year.
You've desperately tried to prove the company's Vioxx drug led to countless heart attacks and strokes. Yet jury after jury struck you down.
So, just when I thought you were down for the count, it's Merck that says "no mas!"
Incredible. Merck agreeing today to settle with the very folks they were clobbering for, get this, nearly $5 billion.
Jeez, imagine if Merck had been losing!
But I guess Merck just wanted it to go away.
The legal victories were great, but they were expensive. Try $600 million/year in legal costs each year.
So from the jaws of victory, Merck seizes defeat. And the trial lawyers a huge payday.
Assuming they take their usual one-third cut, expect them to rake in at least $1.5 billion.
Not bad, for losers. And not bad for other trial lawyers, no doubt salivating at the thought of going after Citigroup or Merrill or any of the latest legal victims du jour.
Remember, my friends, if bad business calls don't kill you, the lawyers will.
For companies that make drugs, and now companies whose bosses could use those drugs.
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Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.