Now that Kenneth Feinberg is close to beginning the claims process in the BP (NYSE:BP) liability cases, a plethora of different scenarios are emerging which attempt to create a causal relationship with the accident.
While there has already been a decision by Feinberg and his team to limit most claims paid out to a 50-mile distance from the coast, that hasn't stopped claims coming in from all 50 states in the nation.
A couple of categories that have emerged are Realtors and golf courses, which have been attempting to persuade Feinberg they suffered losses from the oil spill.
Feinberg, to a limited degree, has been convinced by the Realtors, setting aside what he has called a “modest amount" for them, although he's holding the exact number close to his chest.
The golf course owners on the other hand haven't seemed to get the same reception, although there is a lot of time before final decisions will be made.
Measuring rents, sales and commissions against prior years, even when having to balance it with the recession and jobless numbers, is easier to figure out than metrics from golf courses like play volume and tee sheets.
While it won't be surprising to hear golf courses get something, it's not likely to be a whole lot, but something is better than nothing in slow times like these.
Feinberg does have to balance direct compensation against causal compensation, and keep in mind the limited amount of capital available.
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