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Mississippi Power & Light Co. v. Cook12/5/2002
whole." Fred's Stores of Miss. Inc. v. M & H Drugs, Inc., 725 So.2d 902, 918 (Miss.1998). "Once it is established that punitive damages in some amount should be allowed, the quantum thereof is determined by reference to certain general factors which include: (1) Such amount as is necessary for the punishment of the wrongdoing of the defendant and deterring similar conduct in the future; (2) Such amount as is reasonably necessary to make an example of the defendant so that others may be deterred from the commission of similar offenses; and (3) The pecuniary ability or financial worth of the defendant." Bankers Life & Cas. Co. v. Crenshaw, 483 So.2d 254, 278 (Miss.1985), aff'd on other grounds, 486 U.S. 71, 108 S. Ct. 1645, 100 L. Ed. 2d 62 (1988).
. Punitive damages were awarded in this case to punish MP&L;and to deter similar conduct in the future. With this remittitur this Court destroys the effectiveness of our own decision. MP&L;consciously decided to deny Cook's workers' compensation claim with no legitimate or arguable basis to do so.
. This Court has in the past found penalties equaling 5 1/4% of net worth of companies were justified to accomplish the purpose of punitive damages. Andrew Jackson Life Ins. Co. v. Williams, 566 So.2d 1172, 1191 (Miss.1990). We have upheld punitive damage awards equaling 150 times and 43 times the amount of actual damages. Paracelsus Health Care Corp. v. Willard, 754 So.2d 437, 445 (Miss.1999). See also Cooper Tire & Rubber Co. v. Tuckier, 826 So.2d 679 (Miss. 2002).
. Here, MP&L;s net worth was estimated to be $476,215,000. This being so, a penalty in the amount of $5,000,000 would equal 1.05% of the company's net worth and is 33 1/3 times the actual damages awarded. In contrast, a punitive damage award of only $500,000 would equal 0.1% of the company's net worth and 3 1/3 times the actual damages. This is not a deterrent to a company of this worth and size.
. In light of the facts presented, I cannot find a justification for this remittitur. The jury, assembled from the citizens of Mississippi, heard the facts presented by both parties and as a group, decided that $5,000,000 would punish MP&L;and deter similar future conduct. "We have held that in the event the jury awards punitive damages, the amount is solely within the jury's discretion unless arbitrary or unreasonable." Commodore Corp. v. Bailey, 393 So.2d 467, 471-72 (Miss.1981). There is nothing in the record to indicate that the jury's decision was arbitrary and unreasonable, and I would affirm its decision on punitive damages.
. The jury decision on punitive damages was well within reason and in line with previous cases decided by this Court. Since the majority's lowering the amount of the punitive damages imposed on MP&L;does not correctly reflect the very reason punitive damages are awarded in Mississippi, I respectfully dissent.
McRAE, P.J., AND GRAVES, J., JOIN THIS OPINION.
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