Hints and tips:
...Smart reads Bankruptcy in Texas Houston has been a favoured city for cash-strapped companies and corporations with large legal liabilities to find shelter from creditors....
...From carworkers to actors, baristas to healthcare workers, the number of people protesting tripled from the preceding year, the FT writes....
...Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder....
...It follows an appeals court ruling in January that shot down J&J’s attempt to implement a complex bankruptcy scheme called the “Texas-two step” to manage the talc claims....
...In January an appeals court shot down the company’s attempt to use a strategy called the “Texas two-step”, whereby it had set aside $2bn in a trust to compensate claimants....
...A US appeals court has dismissed a bankruptcy petition filed by a unit of Johnson & Johnson, upending the healthcare company’s attempt to resolve billions of dollars of legal claims from customers alleging...
...But in today’s financialised healthcare system, it’s more likely to be a private equity-owned “physician staffing” company....
...caused hearing loss, is following a recent trend whereby US corporations make use of the bankruptcy court not because they are insolvent but to manage tort claims. 3M is following in the footsteps of healthcare...
...Aearo, which itself still has $100mn in revenues, is different from businesses featuring in so-called “Texas two-step cases”....
...Lawyers representing talc claimants have applied to Judge Michael Kaplan to throw out LTL’s bankruptcy, arguing the healthcare group is trying to “game the bankruptcy system” and delay justice for cancer...
...Bank of America, with about 170,000 US employees, told staff that it was adding “reproductive healthcare” to the list of treatments for which it will cover travel expenses, while JPMorgan Chase said it wanted...
...Lawsuits in states including Utah, Louisiana, Texas and Florida succeeded in temporarily halting bans....
...But within days of the jury’s verdict the 61-year-old engineer’s life was turned upside down when the world’s biggest healthcare company deployed an unusual legal manoeuvre to shield itself from 38,000 lawsuits...
...Carl Tobias, professor of law at University of Richmond, noted that there was little legal precedent for J&J’s “Texas two-step” manoeuvre....
...We will be expanding our Shanghai factory but our focus on production is going to be on the two new factories that we’ve recently completed in Berlin and Austin, Texas....
...Allen West, a Republican candidate in the governor’s race in Texas, fell ill with coronavirus this month....
...Greg Abbott, the Republican governor of Texas, signed an executive order on Wednesday barring public institutions and private entities receiving public funds in the state from issuing vaccine mandates....
...But our focus on production is going to be on the two new factories that we've recently completed in Berlin and in Austin, Texas. How hard is it as a problem to solve?...
...(Bloomberg) Texas hold ’em The secretive real estate mogul Sun Guangxin has bought up 140,000 acres of Texas land where he plans to build a wind farm....
...The investment was made through its Koch Strategic Platforms fund that targets growth markets including industrial automation and healthcare....
...That is more than double both healthcare and industrials, the next most affected sectors, the rating agency said....
...States, counties and cities have been left with large bills for healthcare and law enforcement....
...Maxim, which was founded in 1983, specialises in chips for cars, healthcare and mobile phones and had $2.3bn of revenues in its last fiscal year....
...The tie-up is expected to create a $68bn chipmaking powerhouse that will help the companies compete with much larger rivals like Texas Instruments....
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