Inside Johnson & Johnson’s bankruptcy two-step
Behind the 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(318)

Inside BCG’s Gaza work scandal

Inside BCG’s Gaza work scandal

Top consulting firms have repeatedly found themselves facing a reputational crisis. The most recent example was in early July, when a Financial Times investigation revealed that Boston Consulting Grou...

16 Heinä 202521min

A case of Schrödinger’s tariffs

A case of Schrödinger’s tariffs

It’s been exactly 90 days since US President Donald Trump paused most of his ‘reciprocal’ tariffs. With just a 10 per cent blanket tariff on all imports and a higher tariff on China, economists predic...

9 Heinä 202519min

How oil traders called the Middle East war

How oil traders called the Middle East war

When Iran attacked a US airbase in Qatar – a response to strikes on its nuclear facilities – many feared a global war may be imminent. But there was one market that didn’t break a sweat: oil. It’s typ...

2 Heinä 202519min

The end of the UK’s ‘bailout era’

The end of the UK’s ‘bailout era’

The Royal Bank of Scotland was once the biggest bank in the world. Then, hubris got the best of it. During the financial crisis the UK government spent £46bn to bail out the bank. Seventeen years and ...

25 Kesä 202516min

Inside Moët Hennessy’s crisis

Inside Moët Hennessy’s crisis

LVMH’s wine and spirits division, Moët Hennessy, has long been a source of success – and cash – for the luxury goods behemoth. But more recently, that’s changed. The FT’s Paris correspondent Adrienne ...

18 Kesä 202522min

How Indonesia cornered the nickel market

How Indonesia cornered the nickel market

A decade ago, Indonesia produced only 6% of the world’s supply of refined nickel. Now, it has a de facto monopoly on the market. How did it happen? The FT’s Jakarta correspondent A. Anantha Lakshmi an...

11 Kesä 202524min

Coming soon: The Wolf-Krugman Exchange

Coming soon: The Wolf-Krugman Exchange

In a special six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the economic events reshaping the world in...

4 Kesä 20252min

Why Blackstone, KKR and Apollo are moving in different directions

Why Blackstone, KKR and Apollo are moving in different directions

Blackstone, Apollo and KKR. Although they have similar origins, these three top private capital groups are moving in different directions amid tumultuous markets. What do these approaches look like? A...

4 Kesä 202522min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
rss-rahamania
rss-sisalto-kuntoon
ostan-asuntoja-podcast
rss-lahtijat
hyva-paha-johtaminen
rss-startup-ministerio
rss-sami-miettinen-neuvottelija
rss-seuraava-potilas
lakicast
herrasmieshakkerit
leadcast
rahapuhetta
rss-porssipuhetta
rss-rentotapaus
rss-tyoelamasta-podcast
rss-viisas-raha-podi