|
To paraphrase the old
saying, never let the facts get in the way of passing a lousy bill. Take
for example, the Asbestos Injury Resolution Act (S. 1125). One of the
leading arguments in favor of the bill is that many asbestos companies
have filed for bankruptcy, thus putting jobs at risk. However, a closer
look at how some of these companies are faring reveals a far different
picture:
|
Company (Date
of Bankruptcy filing) |
Total Annual
Sales Through Sept, 2003 |
Annual Sales
for Same Time Period Prior to Bankruptcy |
# of Employees
at time of Chapter 11 filing |
# of Employees
at Present |
|
Armstrong (12/6/00) |
$2.4 billion |
$2.4 billion |
15,400 |
16,500 |
|
W.R. Grace
(4/6/01) |
$1.4 billion |
$1.2 billion |
6,300 |
6,200 |
|
Federal-Mogul
(10/1/01) |
$4.2 billion |
$4.1 billion |
47,700 |
47,700 |
|
Owens Corning
(10/5/00) |
$3.7 billion |
$4.9 billion |
18,000 |
18,000 |
|
US Gypsum
(6/25/01) |
$2.7 billion |
$2.4 billion |
14,300 |
14,100 |
US Gypsum and
NASCAR!?!?
Now, as if all of this
weren’t enough, we have to ask one final question: If a company is in
Chapter 11 bankruptcy, how on earth can it possibly sponsor its own NASCAR
Winston Cup car?
Don’t know? Neither do
we. But check out US Gypsum’s special NASCAR section of its Web site,
proudly highlighting all of its NASCAR Winston Cup and Dodge Series
sponsorship activities:
http://www.usg.com/nascar/
--
provided by the American Trial Lawyers Association, March 25, 2004
***
POSTED MARCH 26, 2003 *** |
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