Your analysis of the law school investment is flawed. There is no reality to the allocation of the investment of time and funds to that particular problem that has resulted in financial ruin. You do not lose only that portion which was devoted to real estate.The entire investment is lost. I chose not to allow that possibilty to to rest in the hands of my employees.The investment is quite a bit more than for the average abstractor
I see that you have indicated that you have been involved in a number of different businesses...some of which were less successful than others. You also indicate that you have gone on to establish new business ventures. This is easier for the lay person than the attorney. Once disbarred, the attorney is finished in the legal proffession. He is overly qualified for other fields of business, and the spectre of disbarrment makes it even harder. Please do not equate business with the practice of law. The practice of law is a profession...not just a business. There are higher standards involved in the rendition of services to a client.
In so far as the the investment is concerned...I dare say that few of the abstractors have invested three years of training and $100,000 just to begin abstracting. Hell, you are having difficulty in getting them to cough up the membership fees to join Naltea. What does that tell you.
With respect to the possibilty of people reopening a business after having closed their doors...done everyday...either under the protection of a bankruptcy reorganization, or if they are a corporation or LLC by simply reopening under a new name. I do a lot of collections work, and deal with this on a consistent basis. This is not an option for the attorney who may have been disbarred for failing to correct the repeated carelesslness of his employees. I chose to deal with it on a pre-emptive rather than a retrospective basis.
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