Comments on: A book everyone should read http://www.speedkill.org/2004/06/26/659/ Radioactive Toy Thu, 04 Dec 2008 05:08:12 +0000 http://wordpress.org/?v=2.6.5 By: Steve http://www.speedkill.org/2004/06/26/659/#comment-450 Steve Tue, 30 Nov 1999 00:00:00 +0000 http://www.speedkill.org/index.php/archives/2004/06/659/#comment-450 Jeff, look up the conduct of James Hardie Industries in Australia, and the subsequent breaking up of the company into three parts. Part 1, the company that inherited the asbestos libility, calculated to be $300M (currently $1.6B), and were given $300M of asbestos contaminated assets to sell to meet the forseen liability. Part 2, the former parent company, that has now been left with $26M, in case litigiants manager to break through company 1. Part 3, the "actual" company, which has been moved to Europe, and listed on the stock exchange. The asbestos companies STINK, in that they knowingly produced a product for decades after it was a known carcinogen. http://www.theage.com.au/articles/2004/06/07/1086460234098.html?from=storylhs&oneclick=true Jeff,
look up the conduct of James Hardie Industries in Australia, and the subsequent breaking up of the company into three parts.

Part 1, the company that inherited the asbestos libility, calculated to be $300M (currently $1.6B), and were given $300M of asbestos contaminated assets to sell to meet the forseen liability.

Part 2, the former parent company, that has now been left with $26M, in case litigiants manager to break through company 1.

Part 3, the “actual” company, which has been moved to Europe, and listed on the stock exchange.

The asbestos companies STINK, in that they knowingly produced a product for decades after it was a known carcinogen.

http://www.theage.com.au/articles/2004/06/07/1086460234098.html?from=storylhs&oneclick=true

]]>