Win-Win Situations for all

By AUDREY PARENTE
      Staff Writer
  A retired couple spent $300 to have their clothes dryer repaired, but it broke.  The repairman denied responsibility.  All found satisfaction through Volusia County Mediation Services.
  A 70-year-old military retiree lost $200,000 in bad investments but got his money back from a broker through the National Association of Securities Dealers (NASD) Board of Arbitrators.
  The common denominator in both above situations and the two organizations was Joseph Meyer of Ormond Beach, mediator and arbitrator in the cases.
  For the pay he serves as an arbitrator for the National Association of Securities Dealers Board of Arbitrators.
  Meyer works for free for the Volusia County Mediation Services.
  In another mediation situation, a young woman bailed out a friend who skipped town.  Unaware of her level of responsibility in such a situation, the woman found herself on the hook for several thousands of dollars for the cost of private investigator, airfare and car rental fees to apprehend the fugitive.
  She didn't have the money to repay, but through mediation, she worked out a settlement and payment terms with the bonding company, avoiding attorney's fees and court costs.
  Meyer stepped in again, acting for the Volusia County Mediation Services.
  Judy Carroll, executive director for the mediation services, said Meyer is one of about 50 people who volunteer time and are trained as mediators in the program.
It began in 1982 when the county judges and the bar association wrote a grant which funded the non-profit volunteer agency dedicated to providing an alternative means of settling disputes outside of the court system, Carroll said.
  "Joe (Meyer) is very successful as a mediator because he has the ability to not be judgmental and just keep the dialogue going.  He helps the parties work out a settlement," Carroll explained.

 She said he contributes about five hours, on about five cases a month.  About 1,200 cases are handled by the service.  Carroll said about 75 percent settle, and in about 95 percent of those cases, the parties live up to their agreement.
  Meyer said there are several advantages to mediation through the program, which provides services to any Volusia County resident.  The mediation is voluntary, so both parties must agree to use the service of a Florida Supreme Court certified mediator trained specifically for the Volusia County program.
  The helps reduce the court case overload and give the parties a chance to settle without a winner or loser.
  "In mediation, neither party is a loser, and both parties gain in the process.  You don't need an attorney to come to mediation, and my job is to make sure no party is taken advantage of or intimidated.  Terms of the agreement are binding in a court of law," Meyer explained.
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  He also uses his mediation skills during arbitration for the NASD. In the case of the retiree who lost $200,000 in the stock market, Meyer was one of three men who heard t he case and decided the retired soldier should get his money back.  The arbitration last five days.
  "He (the retiree( was able to prove that at 70-something-years old he was ill-suited for these type investments," Meyer said.  The arbitrators determined the man had limited knowledge and that the motivation for the investment broker was to make commissions.
  "The broker made a lot of
money while the customer lost," said Meyer.  The retired military man, who prior to using the investor had made his own decisions and had made money
on his own, "was awarded all of his money, plus attorney's fees and reasonable interest," Meyer said.
  He explained that the majority
of security disputes, prior to 1987, were settled in the circuit courts through civil litigation.  In June of that year, the United States Supreme Court ruled that compulsory arbitration between the public and brokerage firms was enforceable.  And in may of 1989 , the court further made arbitration mandatory.

 After the ruling, NASD set up guidelines and wrote a code of procedure for formal arbitration.
  "Because of my background in the securities industry, as a stock broker, investor and investor-advisor, I became a mediator and arbitrator for the New York Stock Exchange and NASD," said the 50 year old.  He operates a Florida based investment and consulting firm.  His services include a free on-
line investment chat every Tuesday evening at 8 p.m., at http://www.meyerassoc.com/
HomePage.htm
  Meyer, a native of New York said his interest in the field began in seventh grade with a class in basic economics.
  "It was my introduction to Wall Street and understanding how stocks trade in the marketplace," he said.  After graduation in 1964 he had a variety of odd jobs but was drafted.  Following his discharge he worked for Western Electric in accounting and purchasing.
  In 1972, I decided I was 25 and ready to embark on a career involving Wall Street," he said.  He was hired by a regional brokerage firm and learned the ropes.  By mid 1973, he was a full-fledged broker. His career expanded with an appointment as investment consultant to the New York State Deputies Assoc.
  Later that year, Meyer's parents retired to Ormond Beach and he decided to follow, working for several firms, including Merrill Lynch, Paine Webber, and Shearson in South Florida until his dad became ill.
  "In late 1977,I moved back with my parents and became a professional equity trader, and in 1980 I registered as an investment adviser," he said. As a consultant, Meyer can advise someone with a complaint against a broker whether the case is worth pursuing, and he gives advice to those who might be worried about their investment circumstances.
  In 1989, he began helping in the disposition of troubled thrift institutions as a contractor for the Federal Deposit Insurance Corporation.  Then he eventually added his credentials as an arbitrator for NASD.  In addition he is a mediator for the Florida Dispute Resolution Center and a certified county court mediator for Volusia County.