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)

Indonesia’s secret to economic success

Indonesia’s secret to economic success

The global economy has been hit hard in the past few years by the Covid-19 pandemic, high inflation and Russia’s war in Ukraine. However, there’s one emerging economy that’s managed to succeed in spit...

11 Jan 202316min

What we can learn from 300-year-old bubbles

What we can learn from 300-year-old bubbles

Welcome back to a new year with Behind the Money! We’re starting off by paying a visit to the New York Public Library to take a peek into the past. Some 300 years ago parts of Europe were in the middl...

4 Jan 202320min

Martin Wolf on the economy in 2023

Martin Wolf on the economy in 2023

It’s our last episode of the year, so that means we’re looking ahead to 2023 with the help of the FT’s chief economics commentator Martin Wolf. He sat down with Michela to discuss some of 2022’s bigge...

14 Dec 202220min

Credit Suisse's last chance

Credit Suisse's last chance

At one time, Credit Suisse was considered to be among the most respected banks in Europe. The FT’s European banking correspondent Owen Walker explains how the Swiss bank is trying to make a comeback a...

7 Dec 202220min

Best Of: Why VC funding is drying up

Best Of: Why VC funding is drying up

This week, we revisit one of our favourite episodes. After years of mega-deals and mega-money gushing into start-ups, venture capital fundraising hit a record-high last year. Now, the FT’s Richard Wat...

30 Nov 202217min

Qatar’s $200bn bet on the World Cup

Qatar’s $200bn bet on the World Cup

Qatar is in the spotlight as the host of this year’s World Cup — and the small, oil-rich nation has had to confront a lengthy human rights record with the world watching. The FT’s Gulf correspondent S...

23 Nov 202217min

What FTX’s collapse means for crypto

What FTX’s collapse means for crypto

The crypto exchange FTX was supposed to be among the “credible” players operating in digital finance. But its swift descent into bankruptcy shocked the financial industry. The FT’s asset management co...

16 Nov 202219min

Introducing Tech Tonic, Season 5: Climate tech to save the planet

Introducing Tech Tonic, Season 5: Climate tech to save the planet

Tech Tonic is back with a new season about climate tech.As more people fly, aviation is on track to becoming a much bigger problem for climate change. Host Pilita Clark, FT columnist and climate journ...

10 Nov 202225min

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