Running the business into the ground - REAL LIFE

HEY XXXX

I understand you recently bid $700 flat for the XXXX six lawyer portraits (we are all entitled to charge whatever we like but considering your considerable SEO talents it would seem that you could afford to raise your prices considerably due to your search-engine visibility)
In this case the lowest other bid was $1800 (highest $2000+) which they were happy to pay until your $700 bid floated in under the door.
Therefore, it is safe to assume you left behind $1,050.00 - lowest bidder wins.
XXXX lawyers bill $350-500 per hour! Yes, $350-500 per hour!
Therefore on the basis of some actuary's "worth" - surely this law firm could pay more than $20 per person for photography - we aren't Walmart are we ($39.95)?
How do I calculate this random $20 per person - (in fact it's far bleaker as you will see)?
Here's a breakdown as a rough guide to CODB (Cost Of Doing Business).

6 executive headshots - $700 flat.

45% taxable rate = $315 (tax man - cometh)

Remainder $ 385.00

Travel - 2 hrs R/T Wash - Balti. $35 per hour $70
Parking DC $18
Seamless (partial) $20
Post Production/PhotoShop/Elect $85
Delivery (FedEx) $20
Camera (5D II $3,000 /200 approx. shoot p/yr) $15
Computers/Software $20
Car (wear/Tear - Mileage 102 @ .85 p/m) $86.70
Insurance (professional p/day) $10
Insurance (car) $10
Lights + stands + gear $25

Obviously it goes on and on but as you can see..

Expenses CODB - $379.70 - you unfortunately will lose money - $385 - $379.70 = $5.30 remaining

$5.30 remain / 6 portraits = .88 cents per person!!!

This is not a sustainable model based on solid business practices.
Please for your brother and sister professional photographers in DC/MD/VA, charge appropriately based on who, what, why, usage & licensing.
XXXXXX now believe that a photographer should only be $700. They are tainted for life!
The rest of us who imploded on this job implore you to raise your rates and compete on what the market will bear.
We as a community of photographers must consider what we do, unique and extremely valuable or we shall all sink together.
If ever in doubt John Harrington has a great pricing tool (as I'm sure you are aware) available to us all (click here)

Respectfully