Inside Johnson & Johnson’s bankruptcy two-step
The Story of Money21 Kesä 2022

Inside Johnson & Johnson’s bankruptcy two-step

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.


To manage the growing liability, J&J recently deployed a controversial new bankruptcy manoeuvre known as the Texas Two-Step.


In this week’s episode, we explore whether J&J’s use of this manoeuvre is setting a new precedent for corporations to evade accountability in America.


Update: A new version of this episode was uploaded on June 21, 2022 to update the number and outcome of trials 3M has faced related to one of its products.


Clip courtesy of NBC News

- - - - - - - - - - - - - - - - - - - - - - - - - -

For further reading:

Johnson & Johnson’s ‘Texas-two-step’ sparks outcry over US bankruptcy regime

Architects of ‘Texas two-step’ lambast J&J for its use of the manoeuvre

‘Texas two-step’ outcry risks ending fee bonanza for law firm Jones Day

J&J’s Texas two-step waltzes over its liabilities

- - - - - - - - - - - - - - - - - - - - - - - - - -


On Twitter, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07)


Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Jaksot(319)

Dispatch from Omaha: Berkshire after Warren Buffett

Dispatch from Omaha: Berkshire after Warren Buffett

Late last year, Warren Buffett’s close business confidant Charlie Munger died at 99. Munger’s death and Buffett’s upcoming 94th birthday have renewed questions about the future of Berkshire Hathaway. ...

15 Touko 202423min

Coming soon: China, the new tech superpower

Coming soon: China, the new tech superpower

In a new season of Tech Tonic, longtime FT China reporter Jame Kynge travels around the world to see how China is pushing towards tech supremacy. Will China be able to get an edge in crucial technolog...

10 Touko 20241min

Was the Archegos implosion illegal?

Was the Archegos implosion illegal?

Three years ago, chaos struck Wall Street. Companies saw their share prices tumble, seemingly out of nowhere. Major banks lost billions of dollars in the fallout. Eventually, that chaos was linked to ...

8 Touko 202423min

How shale rewrote the global oil order

How shale rewrote the global oil order

For decades, countries in the Middle East have dominated the oil market, pumping large quantities of the world’s supply. Along with that has come a pattern: when there’s conflict in the region, oil pr...

1 Touko 202417min

When M&A goes wrong

When M&A goes wrong

When a company is sold there tends to be a standard playbook: There’s some tough negotiations. Then, the buyer gets a business and the seller gets a check. Everyone’s happy. That’s not what happened w...

24 Huhti 202420min

Inside the battle for America’s West

Inside the battle for America’s West

A few years ago, four men went on a hunting trip to Wyoming. That trip would end up changing their lives — and possibly, the future of the public’s access to millions of acres of land in America's wes...

17 Huhti 202423min

Coming soon: The Five Minute Investor from Money Clinic

Coming soon: The Five Minute Investor from Money Clinic

Introducing Money Clinic’s Five Minute Investor, a miniseries hosted by Claer Barrett, the FT’s consumer editor. In each episode, Claer challenges top financial commentators to break down financial ja...

12 Huhti 20241min

Can WeightWatchers survive the Wegovy era?

Can WeightWatchers survive the Wegovy era?

WeightWatchers is struggling. Launched in the early 1960s, the brand grew by helping members shed pounds through behavioural change programmes. Then, GLP-1 anti-obesity drugs hit the market, long-time...

10 Huhti 202417min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
hyva-paha-johtaminen
ostan-asuntoja-podcast
rss-rahamania
rss-lahtijat
rss-startup-ministerio
rss-seuraava-potilas
rss-sami-miettinen-neuvottelija
rahapuhetta
rss-rentotapaus
rss-sisalto-kuntoon
rss-porssipodi
sijoituspodi
rss-lain-elamaa
rss-rikasta-elamaa
rss-tuottava-ja-hyvinvoiva-pk-yritys
rss-asiakaskokemusklubi