Inside Johnson & Johnson’s bankruptcy two-step

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.

Episoder(319)

TED Talks Daily: The next global superpower isn’t who you think

TED Talks Daily: The next global superpower isn’t who you think

Who runs the world? Political scientist Ian Bremmer argues it’s not as simple as it used to be. With some eye-opening questions about the nature of influence, he asks us to consider the impact of the ...

27 Des 202321min

Author Amy Edmondson on ‘intelligent failure’

Author Amy Edmondson on ‘intelligent failure’

Every year, the Financial Times selects the most outstanding business book of the year. For 2023, the top pick is a book about failure. The FT’s senior business writer Andrew Hill sits down with the w...

20 Des 202330min

The ‘Ponzi scheme’ behind Lebanon’s economic collapse

The ‘Ponzi scheme’ behind Lebanon’s economic collapse

For years, Riad Salameh was praised for his revolutionary financial policies as head of Lebanon’s central bank. But suddenly, the country plunged into an economic crisis. And Salameh left the central ...

13 Des 202321min

Could COP28 catapult the carbon credit market?

Could COP28 catapult the carbon credit market?

The UN climate conference COP28 is in full swing, and officials from around the world are discussing ways to combat climate change. The agenda includes questions around how to regulate a market that c...

6 Des 202319min

Inside a hedge fund disaster

Inside a hedge fund disaster

In 2007, when Dan Och took his hedge fund public, he was making a bet that his company would stand the test of time. More than 15 years, a bribery scandal, and a feud with his protégé later, things ha...

29 Nov 202321min

Best Of: Why companies don't want to list in the UK anymore

Best Of: Why companies don't want to list in the UK anymore

This week we’re revisiting an episode from earlier this year about the London Stock Exchange’s decline. The exchange once held the top spot in global financial markets, but that’s changed completely i...

22 Nov 202320min

Introducing: Life and Art, from FT Weekend

Introducing: Life and Art, from FT Weekend

Introducing Life and Art, from FT Weekend. It's a new twice-weekly culture podcast from the Financial Times. On Monday, we talk about life, and how to live a good one, in a one-on-one conversation tha...

20 Nov 20231min

Citigroup reboots

Citigroup reboots

In its early days Citigroup styled itself as a “financial supermarket”, a one-stop shop for all kinds of banking services around the world. But that plan has backfired in recent years. Stepping up to ...

15 Nov 202317min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
livet-pa-veien-med-jan-erik-larssen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
rss-pa-konto
finansredaksjonen
stockup
boligbobla