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)

Inside the fight to stop an oil pipeline in Africa

Inside the fight to stop an oil pipeline in Africa

Construction of a massive oil pipeline in east Africa is underway. For the governments of the countries it will run through, it promises new economic opportunities. But for many others, it could spell...

14 Sep 202223min

Introducing Tech Tonic, Season 4: A sceptic’s guide to crypto

Introducing Tech Tonic, Season 4: A sceptic’s guide to crypto

Tech Tonic is back with a new season all about crypto!We wanted to share with you the second episode of the latest season of Tech Tonic. FT columnist and host Jemima Kelly tries to understand why an i...

8 Sep 202231min

Blockchain seeks a role in fighting climate change

Blockchain seeks a role in fighting climate change

Buying carbon credits is a way for companies to show they’re serious about fighting climate change. But keeping track of these credits is tricky. Now, advocates of the blockchain - the technology that...

7 Sep 202216min

Is Goldman Sachs too big to change?

Is Goldman Sachs too big to change?

Early in his tenure the new Goldman Sachs CEO David Solomon presented a grand new vision for what the massive bank should become. How has it panned out since? And is there still time for Solomon to ma...

31 Aug 202220min

Afghanistan one year later

Afghanistan one year later

The FT’s south Asia correspondent Ben Parkin explains how Afghanistan’s economy has changed in the year since US forces left the country and the Taliban retook control of the government. Clips from ...

24 Aug 202223min

Why central banks are baffling investors

Why central banks are baffling investors

The Federal Reserve has spent more than a decade buying up government debt as part of a post-2008 program to support the economy, also known as quantitative easing. Now with inflation reaching record ...

17 Aug 202217min

Why VC funding is drying up

Why VC funding is drying up

Venture capital fundraising hit a record-high last year. There were more deals, and more money poured into startups last year than at any other time in history. Now, the FT’s Richard Waters says the f...

10 Aug 202217min

The rise of the ‘F@$K It’ investor

The rise of the ‘F@$K It’ investor

Since the 2008 financial crisis, it’s become more and more difficult for Americans to chart a path toward financial security. Things like buying a house and paying off student loans have become more c...

3 Aug 202220min

Populært innen Business og økonomi

stopp-verden
dine-penger-pengeradet
lydartikler-fra-aftenposten
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
livet-pa-veien-med-jan-erik-larssen
pengesnakk
tid-er-penger-en-podcast-med-peter-warren
utbytte
finansredaksjonen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-pa-konto
boligbobla
rss-fa-makro
rss-investering-gjort-enkelt
rss-andelige-tanker-med-camillo