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The Institutional Risk Analyst
published by Lord, Whalen LLC Copyright 2014 - All Rights Reserved. No Republication Without Permission. |
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No Deal on Asbestos -- Yet November 24, 2003 With no prospects of seeing a legislative settlement of asbestos litigation this year, several companies have announced unilateral agreements � including Travelers Property Casualty Corp. and Haliburton. Political observers once gave the compromise deal a 50/50 chance of adoption this year, but the figure put forward by the AFL-CIO for the settlement fund -- $154 billion � is $40 billion more than the insurers and manufactures are willing to pay. The negotiations are continuing, however, as members of both parties try to get labor and industry to split the difference. Our bet is that a deal will get done in the early part of the New Year. Why? Because the damage being done to employers and communities by asbestos litigation will eventually force the unions and companies to compromise. The Institutional Risk Analyst is published by Lord, Whalen LLC (LW) and may not be reproduced, disseminated, or distributed, in part or in whole, by any means, outside of the recipient's organization without express written authorization from LW. It is a violation of federal copyright law to reproduce all or part of this publication or its contents by any means. This material does not constitute a solicitation for the purchase or sale of any securities or investments. The opinions expressed herein are based on publicly available information and are considered reliable. However, LW makes NO WARRANTIES OR REPRESENTATIONS OF ANY SORT with respect to this report. Any person using this material does so solely at their own risk and LW and/or its employees shall be under no liability whatsoever in any respect thereof. |
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