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Non-Tech : Federal-Mogul Corporation (FDMLQ)
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To: Mr. BSL who started this subject4/4/2001 9:09:29 AM
From: JHP  Read Replies (1) of 142
 
In the Crosshairs?
by: fmo_shark 04/03/01 10:43 am EDT
Msg: 14177 of 14202

Friends,

Here is a link to an interesting story suggesting that FMO and CCK are the next targets of the asbestos litigators.

biz.yahoo.com

Kindly indulge my desire to offer a couple comments.

1. Most of the hysteria about asbestos has been seen and heard before. It is easy for analysts and commentators to recycle old news into "new observations" or speculation; it is far more difficult to address solid facts.

2. Until reduced to judgment, all asbestos liabilities are contingent, except for ongoing litigation defense costs. Until language concerning a "surge" or "dramatic increase" in litigation translates into an ACTUAL increase in actual claims asserted against FMO, all the asbestos worries are mere market hysteria.

Questions:

Does anyone have HARD FACTS about the number and type of claims pending against FMO?

How many new claims were asserted against FMO in 1Q 2001?

FMO's asbestos reserve is $900 million through 2004. What is the average cost per claim, including defense counsel?

I warmly invite discussion of these questions, and eagerly seek hard facts concerning these issues; hysterical speculation by the media obscure the problem, rather than explain it.

Respectfully,

fmo_shark
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