In the wake of the Marjory Stoneman Douglas High School shooting, the gun debate has reached a fervor in the US.
     To preserve their public image, multiple companies have started cutting ties with the pro-gun group National Rifle Association (NRA).
   Enterprise, MetLife, and Delta Airlines are some of the big names who no longer offer discounts or special services for NRA members.
     Delta released a statement on the matter. “Out of respect for our customers and employees on both sides, Delta has taken this action to refrain from entering this debate and focus on its business.”
     In response Georgia Republicans plan to respond by removing Delta’s $40 million tax break for the airlines.
     "Corporations cannot attack conservatives and expect us not to fight back," said Casey Cagle, lieutenant governor of Georgia.
    To read more and see other companies that announced cutting ties you can follow the link below.

http://money.cnn.com/2018/02/25/news/companies/companies-abandoning-nra-list/index.html ​

​Did you know that a typical invoice resulting from non-consensual towing can be upwards to $100k or more?  These incidents involving semi-trucks can span the course of multiple days and while generally legit, there are instances where the final invoices are inflated.  From unnecessary equipment to exaggerated labor rates, these fees can escalate well beyond fair prices.    
 
In working with insurance adjusters, we’ve found that by in large, many of them have pre-approved spending limits allowing them to autonomously approve and payout on claims.  We also found that there are little to no checks and balances in place to dispute seemingly abusive invoices, so what happens?  The adjusters cut the checks and move on, no questions asked. 
 
While the adjusters are working off of a well-designed play book, senior leadership has different goals and objectives; namely associated with their P & L statements.  This is where the rubber hits the road and as such, where we come in.  MCB will audit your non-consensual tow bill and assess your potential savings, free of charge.  Here are some of our stats:

• Over 95% resolution in as little as 3-7 days
• Over 95% of accounts resolved via mediation
• Nearly 100% of all cases results in the timely release of truck, trailer, and cargo
• Up to 80% savings from original invoice, including our fee

 
Our process is simple.  Our dedicated team of tow analysts will review your case and determine if any unnecessary charges or inflations exists. If so, we will provide an analysis of the invoice, which will be used as a basis to dispute the charges. 
 
Our agreement is that we will fight by your side at a moment’s notice, provide timely and up-to-date reporting, and will stand by our work.  Furthermore, if we cannot reduce your tow bill, we charge you nothing.
 
Your comments are always welcome. 
 
To learn more or to request your free non-consensual tow audit, call us at 520-442-1303.  Morgan, Cohen & Bach is ready to fight by your side.        

    Federal Reserve officials are ready to increase interest rates after encouraging economic growth numbers.
    Officials want to raise rates in order to curb inflation without hindering the economic recovery we have seen. The US is in its ninth year of recovery, one of the longest stretches of growth in American history.
    “If the economy evolves as I anticipate, I believe further increases in interest rates will be appropriate this year and next year, at a pace similar to last year’s,” said Loretta Mester, president of the Federal Reserve Bank of Cleveland.
    In January, Fed officials re-committed to their plans to slowly raise rates and keep inflation numbers to under two percent. All signs point to the Fed raising Interest rates during their March meeting.
     To read more you can follow the link below

https://www.nytimes.com/2018/02/21/business/economy/fed-economy.html ​

   On Tuesday, Venezuela launched a presale for its state backed cryptocurrency. The highly controversial “petro” is backed by the Venezuela oil reserves.
   Venezuela’s previous currency, the bolívar, has fallen victim to massive inflation problems. While the numbers vary widely, Google’s currency converter estimates 1 US dollar is equal to 25,000 bolívar.
     Government officials are hoping this will help boost the economy and help deal with sanctions the US government has put on the country.
    The plan has some opponents within the Venezuelan government.
  “This isn’t a cryptocurrency, this is a forward sale of Venezuelan oil,” said Jorge Millán, a Venezuelan legislator. “It is tailor-made for corruption.”

You can read more in the link below

https://www.ft.com/content/07b1052c-1648-11e8-9376-4a6390addb44 ​

     The 2018 Winter Olympics are underway and the world’s attention is on Pyeongchang, South Korea. While the increased tourism and promotion helps charge the economy, does the cost outweigh the benefit?
      James McBride, writer for Council on Foreign Relations, argues that the Olympics are a huge strain on the countries economy.
    Take for example Rio de Janeiro. “More than a year later, the city still struggles with debt incurred, maintenance costs for abandoned facilities, under equipped public services, and rising crime” says McBride.
     Looking at costs of the Olympic Games, we see the prices have skyrocketed over the past 20 years. In 1996 during the Atlanta Summer games, the games cost 3.5 billion; Sochi’s 2014 winter games cost over 51 billion.
    Many applicants for future games have withdrawn their applications because of these high costs including Olso, Stockholm, and Boston.
      You can read McBride’s full argument at the link below.

https://www.cfr.org/backgrounder/economics-hosting-olympic-games ​

Recently, I wrote an article on the inconsistencies with tow rates across the country and how those inconsistencies led to huge losses for insurance companies vis-à-vis non-consensual tow claims.  But, have you ever tried searching for posted tow rates?  I have and I can tell you, there’s no true rhyme or reason associated with this type of search.  One commonality I noticed during my search was the reference of the Department of Public Safety, so thinking I found a reliable resource, I reached out to the Arizona DPS and had a brief and unfulfilling conversation with one of the deputies.  While he was aware of the department’s wrecker rotation list, he had no clue what the actual tow rates were nor did he know where the rates were posted.
 
As part of our service in offering the most effective mitigation of commercial loss and recovery, resilience is the cornerstone of our existence.  To that end, Morgan, Cohen & Bach has made it our mission to serve as a national resource for non-consensual tow rates.  Should you find yourself in a downward spiral while endlessly searching for rates, fear not, MCB is here to help. 
 
As a point of reference, New Mexico’s statewide wrecker tariff for Class D vehicles includes but is not limited to the following:

• First mile hookup- $225
• Recovery -$300/hour
• Administrative- $35
• Disposal and clean-up fees- $100

 
The list of miscellaneous charges goes on and on, but know that Morgan, Cohen & Bach has a proven track record of expediting the release of trucks, trailers, and cargo while working to reduce excessive tow bills.
 
Feel free to comment and join the discussion. 
 
To learn more about non-consensual tows or local tow rates, don’t hesitate to call Morgan, Cohen & Bach at 520-442-1303 or visit us online at www.morgancohenbach.com.

     Jeff Bezos, Warren Buffett and Jamie Dimon have teamed up to tackled one of America’s most difficult problems; affordable healthcare. The three business men released a statement announcing plans to create a healthcare company that will be "free from profit-making incentives and constraints."
    "The ballooning costs of health care act as a hungry tapeworm on the American economy," said Buffett. "We share the belief that putting our collective resources behind the country's best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes."
    The company will only be available for employees of businesses held by the three men and their families. There are rumors that the three may expand the business to the larger population depending on the results of its initial launch.
    "They're going to be using their own spending and resources as a laboratory. But I think their aspirations are bigger than their employee bases," said Dan Mendelson, CEO of Avalere Health, a healthcare consulting firm.
   
      You can read more about the three and their new company by following the link below.

http://money.cnn.com/2018/01/30/news/companies/amazon-berkshire-jpmorgan-health-insurance/index.html ​

    Charlotte, North Carolina is experiencing a rise in car towings. From October 2016 to 2017 there were over 1,400 tows, a three year high.
     Citizens allege towing companies are participating in predatory towing methods.
    “They just lay and wait and ready to pounce on somebody to make a mistake,” said Tom Bartholomy, president of the BBB in the Charlotte area.
     In a recent incident, a Charlotte citizen left his car to get a drink from a Starbucks.
    “I wasn’t even in there for five minutes,” said Alan Vanderschouw, the citizen in question. United Towing, a local tow company, affixed a boot to his car during his visit.
    The Charlotte BBB received 65 complaints about towing throughout 2017.
     If you want to read more about the situation in Charlotte, you can follow the link below.

http://www.wcnc.com/article/news/local/towing-in-the-heart-of-charlotte-on-the-rise-data-says/275-515851295 ​

​One of the biggest challenges we hear when it comes to tow rates are the inconsistencies from state-to-state.  These lead to more than an estimated half billion dollars in loss annually for insurance companies.  While some states have established posted rates, others have none at all or, they’re ambiguous at best.  As a point of reference, Connecticut’s maximum allowable rates for a non-consensual tow (NCT) is $325/hour for heavy duty rigs, with a one-hour minimum, then billed in 15-minute increments thereafter.  Georgia and Wyoming, however, have no regulations for NCT, which essentially breeds the mentality of the Wild, Wild, West.  Tow situations in these states can be significantly more challenging.         
 
Often times the insurance companies experience sticker shock and don’t realize a solution exists to address what they feel to be an exorbitant invoice resulting from a Non-consensual tow.  We’re not suggesting that all tow companies have adapted these predatory practices, but the reality is far too many of them have.  In the cases where tow companies do abide by the governing state’s towing rate regulations, there’s no one to police the accuracy of what equipment goes out and how the invoices are potentially baked with equipment and services that were not necessary or in no way justifiable.  For example, did you know that a towing service can bill you for deploying a Safety Coordinator/Supervisor at a rate of $150/hour?  In some cases, the entire cleanup spans the course of multiple days with every piece of equipment and man-power billed at an hourly rate, whether they were used or not.  By the time it’s all said and done, the tow service has racked up an invoice in excess of $50k while holding the precious cargo hostage until the invoice is paid in full, leaving the insurance companies at their mercy. 
 
The list of equipment alone can be astonishing; from forklifts to dump trucks there’s no true governing authority to challenge the validity of what’s sent to a scene and that’s where we come in.  MCB will audit invoices, verify whether regulated rates are being assessed and will work to reduce your invoice as well as negotiate the swift release of all equipment.
 
Feel free to comment and join the discussion. 

If you’d like to learn more about Non-Consensual Towing call Morgan, Cohen & Bach at 520-442-1303.  We'd love to hear from you.