Vale answering the questions in the Town Hall, Roman is at his wits end, Media wanting an interview and he is nowhere to be seen, Its building now people, next litigation claims start in 5 weeks so we will see what is happening regarding size of payments, this will give one answer to what is needed as an overall amount, one billion was never enough, might need to raise it 10 billion, minumum, that means safety from BK , what a messy few years , three years to clear all the claims and then what, back to the mismanagement and build up again of middle management fat, will this company ever learn.
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“Those veterans” as you call them represent the finest of Americans and to suggest they would falsify an injury or illness for money is blasphemy. As you are not a medical doctor, your attempt to diminish the impact of 3M’s faulty ear protection on the 230,000 brave souls who came forward seeking justice is prima facie evidence of 3M’s criminality in this matter. Moreover, this is precisely why the veterans will not settle or waiver and will take down every last one of the deniers all the way to bankruptcy if necessary. The vast majority of real Americans will not stand idly by while 3M hit men impugn the integrity of the brave patriots protecting this nation. The only thing you are trying to protect is your own ar-e. Disgraceful!
Hey toldya. Your calculation makes no sense.
The VAST majority of those veterans have no provable hearing damage directly relatable to 3M and the plaintiffs know that. They chose the first few worst cases.
If plaintiffs refuse to negotiate in a reasonable range they MAY have a shot at something in a 3M Bankruptcy, but more likely some judge will let 3M push Aearo into bankruptcy and manage these cases that way the same way J&J is doing it.
They plaintiffs will NOT maximize their payment by spending billions on legal fees and pushing 3M into bankruptcy and they know it.
Will MR be taking his son in law who he hired in HISD with him?
How low does 3M stock have to go before board takes action, fires the CEO along with his EVP's and other such incompetent top dogs !
$10 billion will not begin to cover the earplug debacle. $43,478 is a ridiculous amount to offer veterans with hearing related issues. I believe the real number is closer to $1.15 trillion. This number assumes a $5 million settlement per lawsuit. The last lawsuit with a jury paid out $74 million. See my point?
Even when the stock was floundering relative to the market in the late 1990s, at least Desi gave interviews. Mike has lost respect internally and externally. He may be under some sort of order from the board to keep his mouth shut and let moni do all the talking. Perhaps a large golden parachute is being put together to give him a royal send-off. I doubt he will only get a measly 26 weeks of severance.
Mike is showing the classic Peter principle response of hiding and having others speak on his behalf. Reminds me of boris Johnson after he lost his Job but was technically pm for a few more months. This means his end is near and perhaps the board wants monish to do all the talking from now on. Truly sad when 30+ years of service employees see what has happened to a company that was great in the 1980s and before.