Monday, February 07, 2005
Another of Mr. Bush's Frivolous Asbestos Lawsuits
W.R. Grace Indicted Over Asbestos Claims
By Bob Anez
Associated Press Writer
Monday, February 7, 2005; 6:03 PM
MISSOULA, Mont. -- W.R. Grace and Co., along with seven of its senior employees, conspired for decades to hide the health dangers posed by the company's asbestos-laced vermiculite mined near Libby, Mont., and intentionally exposed mine workers and others in the small town to illness and death, a federal grand jury indictment released Monday charges.
In the 10-count indictment, top Grace executives and managers are accused of intentionally keeping secret numerous studies spelling out the risk cancer-causing tremolite asbestos posed to its customers, employees and Libby residents.
Source: Washington Post
(W.R. Grace's stock) escaped the usual bankruptcy burial not because of management magic or financial wizardry, but because President Bush and the Republicans who control Congress decided to limit the liability of companies in the asbestos business, which face lawsuits seeking billions of dollars for health damages.As with Tom DeLay, I'm sure we'll hear all about how this is "politically motivated." I also hear the 2006 edition of the thesaurus lists "tort reform" as synonymous with "corporate welfare."
Source: Washington Post "Some Troubled Firms Turned Into Top Performers in 2004" Jan 5, 2005