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Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
Response to post #110: Does the fact that Kerry Steigerwalt's Pacific Law Center was not registered in the state make a difference? Best, Don Bauder =========== I'm not sure the corporation was operating as "Kerry Steigerwalt's Pacific Law Center. He likely appended his name to Pacific Law Center, PC because he thought his reputation would help business. The phrase "Kerry Steigerwalt's" may imply merely that he owns the corporation, not necessarily that he set up another corporation with his name in the title that he failed to register with the state. Also, Pacific Law Center, PC could be a wholly owned subsidiary of another corporation owned by Steigerwalt, or a subsidiary of an Arizona corporation. It's going to be an interesting battle as the lawyers descend upon Steigerwalt like a pack of jackals and try to disbar him and take his money away. I'm looking forward to the contest.— July 27, 2010 11:39 p.m.
Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
Not true-"piercing the corporate veil", happens all the time, it depends on what was going on, if there was fraud involved then Steigerwalt cannot shield himself from liability behind the corporate veil. =============== There's no indication of fraud at this point. Steigerwalt appears to be a poor administrator and manager. I do not think it will be easy to disbar Steigerwalt. The State Bar will have to use an enormous amount of resources to build a case against him, if there is one. We have only heard one side of the story. I predict he will not be held liable for PLC's debts.— July 27, 2010 7:32 p.m.
San Diego Soars in May Case-Shiller Data
The federal homebuyers credit is $8,000. If the average homebuyer in San Diego County who received the credit put 10% down, the $8,000 credit would enable the homebuyer to pay $80,000 more for a house than they could otherwise afford ($8,000/.10= $80,000). In other words, the credit artifically inflated the value of the average house sold in San Diego County during 2009-2010 by at least $80,000. The state homebuyers credit inflated the value of the average house sold in San Diego County by as much as $40,000 during the same time period. So we can expect that when the government runs out of money to fund the homebuyers credit, that the average value of a home in San Diego will decline by at least $140,000.— July 27, 2010 7:17 p.m.
Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
Can we haul Esquire Steigerwalt into bankruptcy court and force him to open both his and the Pacific Law Center's books? ============ Pacific Law Center is a corporation. Steigerwalt is not personally liable for the corporation's debts if the corporation goes bankrupt. The most he can lose is his investment in the corporation's stock. He may have some liability if it can be shown that his alleged $75,000 per month salary contributed to the firm's collapse. Retainers received from clients should have been deposited into a Trust Account, which would not be considered part of the bankruptcy estate. If things were handled properly, clients should be able to obtain refunds of their unearned retainers even if Pacific Law goes bankrupt. Steigerwalt probably can't place Pacific Law Center into bankruptcy right now because the corporation almost certainly has liability insurance. He will most likely have to wait until the corporation is facing potential malpractice judgments in excess of the insurance coverage before he can file a bankruptcy petition on behalf of the corporation to flush its debts down the toilet. He will likely walk away free and clear.— July 24, 2010 12:44 p.m.
Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
Maybe, at last, people will call me Little Mary Sunshine. Best, Don Bauder ========= You're the Hunter S. Thompson of business journalists.— July 24, 2010 8:42 a.m.
Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
"Kerry Steigerwalt's Pacific Law Center, LLP" The Secretary of State says it never existed. A major no-no that leaves you open to be sued personally. ======== It's listed on the Secretary's website as a corporation. It lools like Steigerwalt formed two new legal corporations this month.— July 23, 2010 1:38 p.m.
Kerry Steigerwalt of Pacific Law Center says he was the “fall guy”
But IF, a big if here, Steigerwalt is abandoning clients without their approval or knowldge, then the Bar could and most likely would ask the State Bar Court for an emergency order, effective immediately, ordering Steigerwalt to involuntary inactive status for irreparable injury . ================= It's not clear to me that Steigerwalt was practicing law at the Pacific Law Center, a corporation with a separate legal existence. Steigerwalt was apparently Chief Executive Officer ("CEO") of a corporation that hired lawyers who in turn provided legal services directly to the public. Steigerwalt was not practicing law and representing clients as CEO. He was managing a business. I would be surprised if Steigerwalt's name appeared on a single retainer agreement between the corporation and its clients. Steigerwalt appears to be in a position to argue that he was merely the piano player and should not be held responsible for the actions of the other attorneys who worked for the corporation.— July 23, 2010 1:35 p.m.
Ballpark Study Confesses: "We Hastened and Greatly Worsened the Glut"
The sentence above, "You and others like you are a drain on our economy.", should have appeared in the comment section and not in the quote.— July 21, 2010 9:18 p.m.
Ballpark Study Confesses: "We Hastened and Greatly Worsened the Glut"
While you take that view of migration, I have another. I was paid to move to San Diego from the east cost. Probably because they could not find someone with the same skill sets that I have. To consider someone with an MBA a slob...well that is just funny. You and others like you are a drain on our economy. ============= MBAs are a dime a dozen. MBAs know nothing about running businesses and their perverted belief system caused our economic collapse. Ex-Mayor Dick Murphy's Harvard MBA didn't do him or the city any good.— July 21, 2010 8:58 p.m.
Ballpark Study Confesses: "We Hastened and Greatly Worsened the Glut"
There is no concern whatever for the unfortunate in San Diego; ======= It makes no sense to be "unfortunate" in one of the highest cost areas in the country. The government should force the "unfortunate" out of San Diego and into lower cost areas such as Barstow, Fresno, and Bakersfield where their welfare and disability payments will stretch farther. The state should be "redlined" so as to prevent the "unfortunate" from clustering in desirable areas where it is too costly for the state to financially maintain them.— July 20, 2010 11:27 p.m.