Inside Johnson & Johnson’s bankruptcy two-step
The Story of Money21 Juni 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.

Avsnitt(319)

Private credit’s ‘golden era’ shows signs of tarnish

Private credit’s ‘golden era’ shows signs of tarnish

Private credit took Wall Street by storm. But at a software company called Pluralsight, recent loan troubles are now highlighting risks that could be hidden in the sector. The FT’s senior US corporate...

28 Aug 202420min

Is business better in Texas?

Is business better in Texas?

Hundreds of companies have moved their headquarters to Texas in recent years, including big names like Tesla, HP and Charles Schwab. They’ve been enticed by low taxes, light regulation and the promise...

21 Aug 202421min

Is there a bubble waiting to burst in India?

Is there a bubble waiting to burst in India?

Indian equities are soaring right now. The country’s benchmark Nifty 50 index has doubled in just five years, beating out the pace of Japan, China and even the US. And it’s all being driven by million...

14 Aug 202420min

The Economics Show with Soumaya Keynes: What’s wrong with economics?

The Economics Show with Soumaya Keynes: What’s wrong with economics?

This week, we’re bringing you something from our fellow FT podcast, The Economics Show with Soumaya Keynes. Sir Angus Deaton won the Nobel Prize in Economics in 2015. So when he says he is rethinking ...

7 Aug 202434min

Why executive pay is skyrocketing

Why executive pay is skyrocketing

Remuneration among CEOs in the US is rising quickly. It’s been hard to miss recent examples of massive pay packages, like for Tesla’s Elon Musk. But that growth is far outpacing that of wages for ever...

31 Juli 202422min

Less regulation, more problems?

Less regulation, more problems?

Two recent Supreme Court decisions have taken a lot of rulemaking power away from federal agencies. And it could shake up how businesses in the US operate. Many chief executives are happy about these ...

24 Juli 202418min

What the City of London wants from Labour

What the City of London wants from Labour

The Labour Party has come back into power in the UK after 14 years. For the City of London, this brings hope for some stability amid the rise of competing financial sectors around the world. But will ...

17 Juli 202425min

F1’s American test drive

F1’s American test drive

The owner of motor racing giant Formula One is racing to capture the American sports audience. Thanks, in part, to efforts like the Netflix series Drive to Survive, it has caught the attention of many...

10 Juli 202424min

Populärt inom Business & ekonomi

framgangspodden
badfluence
varvet
rss-jossan-nina
rss-svart-marknad
svd-tech-brief
uppgang-och-fall
bathina-en-podcast
avanzapodden
rss-dagen-med-di
rss-kort-lang-analyspodden-fran-di
rss-borsens-finest
rss-inga-dumma-fragor-om-pengar
rikatillsammans-om-privatekonomi-rikedom-i-livet
24fragor
tabberaset
borsmorgon
montrosepodden
fill-or-kill
lastbilspodden