Strange Estate Lawsuit

Apr 17, 2017 | Wealth Management

Barbara Bagley was the driver of a Range Rover when it flipped leading to injuries that killed her husband.  Now she is suing herself for his wrongful death.  On the surface this may sound like a sketch out of Monty Python but Mrs. Bagley is serving two roles in this tragedy: 1) the widowed driver and, 2) the representative of her late husband’s estate.   Now it’s getting interesting.  Anyway, she sued herself (acting as representative of the estate).  Then she tried unsuccessfully to have the case dismissed (as the driver whose interests are represented by the insurance company).  She will now have to prove her own negligence led to her trauma. "The jury would be asked to determine how much money will fairly compensate Barbara Bagley for the harm she caused herself," attorneys Peter Christensen and Kathryn Tunacik said in their motion.

We’ll have to see how this one plays out.

Speaking of strange lawsuits:  In March of 2011, the infamous “Aunt of the Year” sued her then 8 year old nephew for $127,000 for giving her too aggressive of a hug when she arrived at his birthday party.  This hug resulted in the pair falling to the ground causing her to break her wrist.  Apparently she thought the boy should know better,  but the jury decided she should know better.  The trial ended in 2015 as the jury decided Aunt Jennifer deserves nothing.

Below is our most recent Market Update.  Volatility will continue in the near-term making quality research and proper stock selection vital for finding growth in 2017.  Give me a call,  we’ll grab a cup of coffee and review your portfolio. 

Have a great week!!

Jeff

Market Update

A VOLATILE WEEK FOR STOCKS

Selling outweighed buying during this past, abbreviated market week. Across four trading days, the S&P 500 fell 1.12% as U.S. investors considered both corporate earnings and global tensions. The Nasdaq Composite’s weekly losses were slightly deeper at 1.21%; the Dow Jones Industrial Average declined only 0.97%. Friday’s settlements: Dow, 20,453.25; Nasdaq, 5,805.15; S&P, 2,328.95.

PRICES DECLINE IN MARCH

In March, the Consumer Price Index retreated for the first time in 13 months. Its 0.3% dip left annualized consumer inflation at a moderate 2.4%. Fuels, autos, and groceries have all become less expensive recently, according to Bureau of Labor Statistics data. Core consumer prices were up 2.0% in the year ending in March. The Producer Price Index fell just 0.1% in March, with the yearly PPI gain left at 2.3%.      

RETAIL SALES FALL

March’s 0.2% decrease followed a 0.3% pullback in February. The silver lining? Minus gas and vehicle sales, retail sales were up 0.1% last month. Core retail sales were flat for March.

AN IMPROVEMENT FOR CONSUMER SENTIMENT

Rising to an initial April reading of 98.0, the University of Michigan’s consumer sentiment index improved 2.1 points from its final March level. The index’s current conditions component increased 2.0 points to an outstandingly high 115.2.

 

Jeff Schriefer
Vice-President
Senior Wealth Advisor
Wealth Management
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859-252-0304 Fax

Bank of the Bluegrass & Trust Co.
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