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The Texas Two-Step and Johnson & Johnson’s Baby Powder

The Texas Two-Step and Johnson & Johnson’s Baby Powder

FromNew Books in Economic and Business History


The Texas Two-Step and Johnson & Johnson’s Baby Powder

FromNew Books in Economic and Business History

ratings:
Length:
58 minutes
Released:
Jul 26, 2023
Format:
Podcast episode

Description

What’s safer than baby powder? Parents have been trusting Johnson & Johnson for over 100 years to powder their baby’s bottoms.
Yet, numerous studies have revealed the presence of trace amounts of asbestos in this talc-based powder. Thousands of parents now claim that this asbestos is responsible for their cancers. A Reuters investigation catalogued this evidence and the fact that J&J knew about the asbestos since the 1950s, yet continued to sell the powder. 
Johnson & Johnson is proposing a $9 billion dollar settlement for the over 38,000 lawsuits brought and all claims into the future. However, it depends on the courts accepting a controversial bankruptcy procedure called “the Texas Two-Step.” This strategy is being used to address a raft of personal injury complaints against a number of companies, but critics call it nothing more than a ‘sham bankruptcy’ that is being used to let corporations off the hook.
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Released:
Jul 26, 2023
Format:
Podcast episode

Titles in the series (100)

Interviews with scholars of the economic and business history about their new books