Johnson And Johnson Texas Two Step......
Johnson and Johnson made baby powder with Asbestos in it.
The asbestos gave tens of thousands of people cancer.
38,000 of those people are now suing Johnson and Johnson.
To make those 38,000 people go away (and leave J&J alone with all their money) they are instituting the Texas Two Step.
Step 1 - Spin off a shell company. Place all the liability into the shell company.
Step 2 - Have the Shell Company declare bankruptcy. Lets the dying cancer patients go fight it out with the bankrupt company fighting for pennies on the dollar.
Meanwhile all the piles of cash remain protected in the original company, along with the Steller company reputation.
That is how it is done in Corporate America.
Johnson and Johnson.........A Name you can trust.
posted by res17 at
February 15, 2022
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home