M&M said anything?
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All the gains from five years ago are wiped out. What a shame.
$93.20 close today (02-08-2024)
The person who can come up with the best bull-butter reason to contest unemployment claims gets to keep their job! The rest…well…good luck!
Stock below $90 and HC Spin and PFAS exit to go, with investors watching closely? How many negative messages, excuses or delays will investigators continue to take?
Are they really selling 600m in PFAS/6 mo? Seems high
According to CMBG3 Law, the European PFAS litigation has largely escaped being at the forefront of PFAS news articles as the EU and member states’ efforts to enact regulations and the U.S. PFAS litigation dominated the daily headlines. In 2022, PFAS manufacturer 3M agreed to settle PFAS environmental pollution claims brought by Belgium for $581 million. The sum does not include any sort of settlement for personal injury to citizens of Belgium and the Belgian government is still actively pursuing an environmental criminal investigation in the matter. Those familiar with the history of the U.S. PFAS litigation will see similarities between the settlement with Belgium and the inception of the litigation in the U.S. It is certainly apt to ask, therefore, whether the most recent European PFAs litigation settlement will open the floodgates to additional litigation akin to the U.S. litigation.
It is likely that at some point, personal injury lawsuits on a large scale will follow the remediation settlement out of Belgium. These will certainly serve as test cases in Europe for large scale personal injury PFAS litigation, similar to what we saw in the U.S. in the litigation that resulted in a $670 million settlement several years ago. It is this settlement, plus the environmental remediation settlement out of Minnesota for $850 million that are largely seen as the catalysts for the PFAS litigation that exists today in the U.S. It is certainly not inconceivable to imagine a similar future for European PFAS litigation.
Here we go again. Just last summer 3M payed $580 million to the government of Flanders, Belgium over PFAS leaking into the groundwater from the Zwijndrecht (Antwerp) plant. John Banovetz said the settlement "reflects 3M's ongoing stewardship journey as a responsible manufacturer." He also promised even more "significant actions to reduce PFAS discharges and emissions." Good to see he's a man of his word.
Wonder what it'll cost 3M this time? Sounds like their government is threatening to revoke 3M's environmental permit(s).
3M has again halted PFAS manufacturing in Belgium after high levels of the "forever chemicals" were detected around the plant.
Belgian authorities are investigating after it was discovered last week "3M was still emitting relevant amounts of PFAS into the ambient air," according to a government website translated from Dutch. "The PFAS emissions end up in the environment and cause additional pollution, in this case mainly in the groundwater."
Maplewood-based 3M has pledged to phase out production of PFAS by the end of 2025, but it is still big business. The family of chemicals do not break down in the environment and are used by key customers in the semiconductor and automotive industries.
Through the first half of the year, 3M's PFAS sales totaled $677 million.
Wed, Sep 27 DJIA
MMM $93.46 at close (-$0.42 from yesterday)
“3M Being Investigated in Belgium Over Forever Chemicals Emissions”, John Keilman, The Wall Street Journal, Wednesday, September 26, 2023.
DEI could go away completely and 3M would still have problems.
*Nero
It will plunge to 25% of all time high.
25% of $260 =$65
Mark this post.
Have no fear, it is all part of the Kearney plan. Falling stock prices are normal while the consultants heal the company. Trust the process.
$93.88 and dropping. The sleeping giant appears to be the share holders waking up.
Stock is heading for $80. Hang on tight.
@1ghr+1oMoKxZG Not a contest for d-mbest post.
3M's issues have nothing to do with Biden's policies. No need to even bring him into this.
It literally makes me feel ill owning this stock
The Fall of the Roman Empire with the Board of Directors being Niro. If you don’t recognize the reference, Google it.
Five years ago it was $210.71
Today $94.79
Who is the single common denominator for this entire period of time?