$14,000: The Price of Suffering Through the Costa Concordia Tragedy

By The Atlantic Wire

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Reuters/DigitalGlobe

The trauma of the Costa Concordia, seen sinking sideways off the Italian coast in the photo above, killed more than a dozen passengers. For the fortunate survivors, the cruise company has offered $14,000 per person, provided the recipients promise not to sue. 

The money is meant to cover lost baggage and "psychological trauma" suffered by those who had to abandon ship after it ran aground off the coast of Italy. The company will also reimburse passengers for all travel and medical expenses associated with the trip, as well as the cost of the cruise. (This is on top of the 11,000 in euros, we presume.) Taking the deal, naturally, would absolve passengers of their right to sue, so it will be interesting to see how many of take this first over or hold out for more. No matter how generous they think this settlement offer might be, there is almost certain to be a class-action lawsuit against Costa Cruises and its parent company Carnival, which is the largest cruise company in the world.

Read the full story at The Atlantic Wire.

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http://www.theatlantic.com/business/archive/2012/01/-14-000-the-price-of-suffering-through-the-costa-concordia-tragedy/252103/