Exorbitant Court Awards

E-mail to Congress:

EIN News says, "Pfizer Faces Alleged $5 Billion in Claims at Trial. Pfizer Inc.'s liability for an alleged $5 billion in claims for asbestos-laden products made over a 20-year period by its Quigley unit will be partly decided at Quigley's bankruptcy trial, a judge ruled. The trial pits the U.S. government and asbestos victims against Pfizer, the world's biggest drugmaker, with claims that its $450 million contribution under a settlement isn't enough to satisfy its liabilities. (einnews.com)".

Here is something you can take some positive action on. I don't refer specifically to the Pfizer/Quigley situation. I am referring to the fact that the US government, individuals, and groups can sue private companies for exorbitant amounts of money, which effectively would hamstring those companies from proper operation in the pursuit of normal business. Companies have enough difficulty in trying to satisfy market requirements, without opportunists in the form of government, groups, and individuals trying to put them out of business through ridiculous lawsuits.

Here are some specifics in the case of asbestos lawsuits. Some years ago asbestos was considered a reasonable raw material for the manufacture of various products. Similar raw materials were wood, sand, water, etc.. There was no indication at the time that asbestos had a propensity to lead to lung cancer (mesothelioma) in some people. Government agencies did not know it. The companies did not know it. The workers did not know it. Therefore, it seems completely unreasonable that a company should be liable for a difficulty which was unpredicted and using a raw material and practice which was consistent with technological and health considerations at the time.

This ridiculous situation has been going on for a long time and should be stopped. We now know about the dangers of using asbestos in products, even though those dangers are highly overrated. Therefore, we expect present product production to be devoid of an asbestos constituent. However, Congress can do something with respect to "grandfather protection" on the asbestos matter.

More specifically, Congress should place limits on the value of lawsuits to avoid opportunistic use of the courts. A trial for damages against the company by an individual, group, or government should be based on proof that the company knew of a particular danger and took no action in protecting its employees or the public. Clarification of the law in this regard, will allow companies to get on with their job of providing goods and services, without a constant worry of whether they will be in business tomorrow because of an unreasonable damage award by the courts.