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Non-Tech : Bill Wexler's Trading Cabana
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To: Bill Wexler who wrote (392)9/21/2004 4:13:55 PM
From: Carl Worth  Read Replies (1) of 6370
 
USG has a liability on their balance sheet listed as "Liabilities subject to compromise" which amounts to 2.24B. Is this their estimate of what they will have to pay for asbestos claims, and if so, do you have any idea if this is sufficient under the compromise plan currently being debated in Congress? Could the liability perhaps be lower if the compromise is reached?

I believe USG filed for bankruptcy at some point in the past. Did that filing eliminate any of their exposure to asbestos claims, and how does the asbestos situation affect the current equity position as compared to whatever was wiped out in the bankruptcy, if you know?

Certainly USG is generating significant cash, but if they had to contribute to that fund in the amount of 2B+ over the next many years, that would certainly cut into their overall financial performance significantly.

Thanks for your time.
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