Thread regarding 3M layoffs

Many states did not take the $10 billion deal. Connecticut is one of those states. And here we go.

Conneticut targets 3M, DuPont and others over PFAS pollution in water

HOW WILL 3M PAY FOR THIS 🤔?

Connecticut filed two lawsuits Thursday accusing chemical makers of covering up for decades the dangers of PFAS, a class of toxic and ubiquitous “forever” chemicals that persist in the environment and are widely detected in private wells and public water systems.

With litigation filed in Hartford Superior Court, Connecticut joins the growing list of plaintiffs suing major chemical makers over a slowly unfolding fiscal, environmental and public health crisis. A handful of manufacturers agreed to $12 billion in settlements in 2023, and the industry is bracing for more.

“These companies knew the truth decades ago, and they buried the evidence and lied to all of us. Because of that, we are dealing with widespread contamination of drinking water and natural resources across Connecticut,” Attorney General William Tong said.

The two lawsuits are organized by the two markets for products with PFAS chemicals: the aqueous film forming foam, or AFFF, used in firefighting; and an extraordinarily wide range of consumer products, including food packaging, cookware, carpeting, upholstery, clothing, and cosmetics.

“What really hits home for me is that there’s likely and potentially PFAS in the microwave popcorn I ate last night or in the nonstick pots and pans that I used to fry eggs on Sunday morning,” Tong said. The chemicals likely are detectable in the blood of anyone tested, he said.

Accompanied by environmental and public health officials, Tong announced the litigation at the Connecticut Fire Training Academy in Windsor Locks, not far from two major AFFF deployments at Bradley International Airport that sent PFAS streaming into the Farmington River.
But the venue primarily was chosen to reflect the special danger PFAS poses to firefighters. In addition to its presence in the AFFF used to suppress fires, the chemical also is used in the turnout gear that protects firefighters. Among PFAS’ useful properties are a resistance to heat, water, grease and stains.

Peter Brown, the state president of the largest union representing firefighters, said he and every firefighter were presented on their first day with neatly folded turnout gear — the boots, pants, coat and helmet they were told will be the most important piece of equipment they ever will use.

“What they never said was that in order to get that level of protection, the manufacturers decided it was necessary to saturate that gear with PFAS chemicals, meaning each and every time we put it on and went out the door, we’re exposing ourselves to deadly carcinogens,” Brown said.
Occupational cancers are now the biggest cause of death in firefighting, Brown said.

https://ctmirror.org/2024/01/25/ct-3m-dupont-pfas-water-contamination/

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| 1761 views | | 10 replies (last January 29, 2024) | Reply
Post ID: @OP+1qNOsJgL

10 replies (most recent on top)

It's hard to know what to believe. Financial advisers in many instances are actually bullish on 3M stock and also believe because 3M is a conglomerate it is highly unlikely they will end up in chapter 11. In any event, 3M will never be the same great company it once was.

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Post ID: @1jxi+1qNOsJgL

It's a cluster.f.u.c.k done up by M&M

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Post ID: @vlg+1qNOsJgL

Mike and Monish riding the wave of layoffs and cost cutting. The human impact is devastating so that they can carve millions off the top for a few more years. Just declare chapter 11 and dispense with the massive liability that society has labelled the "forever chemical". 3M must be the most corrupt company in the world.

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Post ID: @xpz+1qNOsJgL

Mikey is acting like Neville Chamberlain and proclaiming to WS that there's peace in our times, while privately knowing the house of cards is going to crash and burn perhaps 2 years post spin.

By then he will have sold off all his 3M shares, taken a lump sum pension, and be basking in South Padre Island for life.

He's as self-deceived as Moe Hailstone in one of those three stooges spoofs.

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Post ID: @zzj+1qNOsJgL

The $10B settlement was with public water systems to help with costs to remove PFAS from drinking water. There are at least 26 state attorney generals suing 3M for PFAS related damages and the AGs will take those to trial in their respective states unless a settlement is reached first. Thousands of personal injury lawsuits claiming cancer caused by PFAS in drinking water or by firefighters exposed to AFFF. Not sure how they prove their specific cancer came from PFAS and not something else they were exposed to, but all it takes is a sympathetic jury. And that's just in the US. Surprised there aren't more international lawsuits beyond Belgium.

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Post ID: @ojk+1qNOsJgL

Those still holding on to 3M stocks will be in for a big crash.

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Post ID: @klj+1qNOsJgL

Based on what 3M has been saying, I thought we won. This does not seem to be even close to being over.

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Post ID: @gqb+1qNOsJgL

The Minnesota government's MPCA (Minnesota Pollution Control Agency) has estimated the cleanup for Minnesota will be $14 to $28 billion. If Connecticut won $20 billion, that would take 3M under.

https://www.remediation-technology.com/articles/249-minnesota-report-finds-pfas-cleanup-costs-from-wastewater-exorbitant

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Post ID: @lku+1qNOsJgL

3M will never be able to pay for all the claims. The best course of action could be Chapter 11. Too bad for its employees.

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Post ID: @wmw+1qNOsJgL

How will 3M pay, more layoffs.

In the state's announcement they claim that 3M knew PFAS was toxic. Their quote states:
"The complaints charge that the companies knew as early as the 1950s that PFAS chemicals were toxic, highly persistent, and likely to spread to groundwater and contaminate the environment. Instead of protecting the public, the companies buried the evidence, lied to the public, and continued to manufacture products they knew were ki-ling people and causing permanent environmental harm.
Testing conducted by 3M in the 1970s found a “universal presence” of PFAS in human bld samples across the United States mirroring chemicals used in its Scotchgard and Teflon products. Animal studies in the 1970s led 3M to conclude that PFAS “should be regarded as highly toxic.” One such study was aborted when all test monkeys dd within the first days or weeks of ingesting PFAS-contaminated food. The company moved women employees “of childbearing potential” off its production lines, yet continued to claim publicly that its products were “safe” and refused to cease production."

This was all avoidable if 3M had done the right thing. Instead they lied, cheated, and misled the public.

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Post ID: @ahl+1qNOsJgL

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