...RESOLVING ASBESTOS CLAIMS: THE MANVILLE PERSONAL INJURY SETTLEMENT TRUST MARIANNA S. SMITH* I INTRODUCTION There was no precedent for the Manville Personal Injury Settlement Trust ("Trust"). A grantor trust, its genesis, birth, and evolution were influenced by-and its operation is still influenced by-many groups with differing agendas: the Manville Corporation, multiple federal and state courts, legal experts, investment bankers, victims' groups, plaintiffs' attorneys, Trust staff, and other trusts. The development and evolution of the Trust were further affected by a myriad of state and federal laws on, inter alia, trusts, securities regulation, contracts, fiduciary responsibility, bankruptcy, and civil procedure. These often conflicting constituencies and laws were forced into a compromise "peace" during the upheaval of the Johns-Manville Corporation' 2 chapter 11 bankruptcy filing. The Trust, an independent organization, was created by the bankruptcy court to distribute funds as equitably as possible while balancing the rights of Copyright © 1990 by Law and Contemporary Problems * Executive Director, Manville Personal Injury Settlement Trust. This article was last revised in February 1991. In May 1991,Judge Jack B. Weinstein issued an order restructuring the finances and operating procedures of the Manville Personal Injury Settlement Trust. 1. In 1988 the Johns-Manville Corporation was renamed The Manville Corporation, and will be referred to...
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...Question 1(word count 897) From its humble beginnings the McDonalds organisation has continuously looked to engage everyone within the business to help identify and solve problems and has made the elements of leadership, participation, team-based structures, strong adoptive cultures, employee empowerment and the open sharing of information key pillars in which it has built itself from the ground up. Sustainable development has also been at the forefront of the McDonalds organisation and is an integral part of the continued success of the organisation and its ability to weather the storm from critics regarding the quality of its “fast food” in recent years and stay ahead of its competitors. McDonalds has a rich heritage of leadership and investing in its leaders. In 1961 Hamburger University was established in Elk Grove, Ill to train restaurant staff and management in the consistent procedures of the restaurants operations and create a culture that has continued. The 2008 CEO Jim Skinner worked his way up from Trainee Manager. Skinner is also a man of values and ethics: When McDonald’s was blamed for the obesity problem, he helped direct the company to take responsibility and help create a solution rather than pass the blame. Thus, Skinner can be seen as a moral leader. McDonalds prides itself on leading from the top down but also encouraging ideas and innovation from the bottom up. Ray Kroc has encouraged a participative strategy at McDonalds from the beginning with some...
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...Xantham gum Xanthan gum is a polysaccharide, derived from the bacterial coat of Xanthomonas campestris, used as a food additive and rheologymodifier,[2] commonly used as a food thickening agent (in salad dressings, for example) and a stabilizer (in cosmetic products, for example, to prevent ingredients from separating). It is produced by the fermentation of glucose, sucrose, or lactose by the Xanthomonas campestrisbacterium. After a fermentation period, the polysaccharide is precipitated from a growth medium with isopropyl alcohol, dried, and ground into a fine powder. Later, it is added to a liquid medium to form the gum.[3] It was discovered by an extensive research effort by Allene Rosalind Jeanes and her research team at the United States Department of Agriculture anthan gum derives its name from the strain of bacteria used during the fermentation process, Xanthomonas campestris One of the most remarkable properties of xanthan gum is its ability to produce a large increase in the viscosity of a liquid by adding a very small quantity of gum, on the order of one percent. In most foods, it is used at 0.5%, and can be used in lower concentrations. The viscosity of xanthan gum solutions decreases with higher shear rates; this is called shear thinning or pseudoplasticity. This means that a product subjected to shear, whether from mixing, shaking or even chewing, will thin out, but once the shear forces are removed, the food will thicken back up. A practical use would be in salad...
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...implied for merchantability or fitness for a particular purchase, as set forth in Chapter 8. 2. Privity of Contract Breach-of-warranty is based on contract law. Generally, an injured person to recover for a breach of warranty, he must be in a contractual relationship (privity) with the seller (a consumer or buyer of the product) and prevents recovery from bystanders not in privity with the seller. B. Negligence To prove negligence in a product liability case, plaintiff must show defendant did not use reasonable care in designing or manufacturing its product or in providing adequate warnings or failed to comply with statutory requirements. Generally, plaintiffs cannot prove negligence by introducing evidence of “upgrades” taken by a defendant to improve a product. MacPherson is the landmark case in which the defendant manufacturer was found liable for negligence even though there was no contractual relationship between the manufacturer and the plaintiff. Case...
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...Running head: Employee Safety & Health Course No: BUS 601 Course Name: Human Resource Management Course Teacher: M Khasro Miah (Ph.D) Submitted By: Muhammad Ashikujjaman-1211023090 Mohammed Makbul Hossain-1120524090 Md. Taslim Hossain-1130305090 Kawsar Jahan (1030657090) Abstract Considers the role of employee representation in improving health and safety performance within small enterprises. Focuses on an approach to employee participation through regional health and safety representatives and provides an analysis of the factors necessary to ensure their effectiveness, based on Bangladesh. Identifies and analyses the challenges presented by small enterprises in light of evidence from existing evaluation of regional representative schemes. Identifies and discusses supportive factors that might enhance representative participation in health and safety in small enterprises, including the role of regulation, and employer and trade union support. Considers the implications of the Health and Safety (Consultation of Employees) Regulations and concludes that in their present form they offer only very limited support for employee representation in health and safety in small enterprises. Keywords: [Click here to add keywords.] Table of Contents Why Safety is Important for organizational development in Bangladesh 8 Management’s Role in safety 9 1. Design safer systems of work: 9 2. Exhibit commitment: 9 3. Inspect the workplace: 10 4. Establish procedures and controls:...
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...213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 213 PA R T IV ETHICS AND THE ORGANIZATION 213 213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 214 CHAPTER 8 ETHICAL PROBLEMS OF ORGANIZATIONS INTRODUCTION In the third quarter of 2002, the Brookings Institution, a Washington, D.C., think tank, estimated that the corporate scandals that began with the Enron debacle in late 2000 would cost the U.S. economy $35 billion. That is the equivalent of a $10 increase per barrel of oil.1 It is, in a word, staggering. And we may not have seen the end of it. Long before Enron’s collapse, a number of business ethicists and business professionals watched with concern as Wall Street analysts demanded increasingly strong corporate financial performance to support rising corporate stock prices. At the same time, the gargantuan compensation packages (including stock options) of the top executives running these companies became inextricably linked to their companies’ stock prices. In 1990, average CEO pay at major corporations was 107 times the pay of the average worker. By 2004, CEO pay had risen to 431 times the pay of the average employee. (If the pay of average workers in the United States had risen as fast as CEO pay, the lowest paid workers would be earning $23.03 an hour, not $5.15 an hour.)2 It was an “accident” waiting to happen, although everyone was making so much money in the market that no one wanted to admit that something could be fundamentally...
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... Table of Contents Business System Planning (Week 1) Introduction 4 Identify how the following critical success factors will be addressed by case study 5 Governance 5 Business plan alignment 6 Process improvement 6 Resource optimization 6 Operating excellence 7 Identify how the following critical success factors will be addressed by case study 7 Business management issues 7 Strategic and competitive issues 7 Planning and implementation concerns 8 Operational items 8 Identify how the variables defined by Strassmann's Model will be measured 8 Efficiency 8 Effectiveness 8 Competitivness 8 Profitability 8 Strategic Information Systems Assessment (Week 2) Create an analysis of strengths, weaknesses, opportunities and threats for case study 9 Case study continued 9 SWOT analysis of case study 10 SWOT analysis continued 11 12 13 Create an assessment of the forces that are presently governing competition for case study 14 Using Wiseman’s Framework of Strategy Development define the strategic thrusts and advantages 15 Information Systems Business Case (Week 3) Critical success factors for IT Manager 16 Continued. 17 General stratgy for IT goals and objectives of the case study. 18 General strategy on how IT department will support the goals and objectives of the case study 19 Information Technology Strategy Statement (Week 4) Business aspects 20 Technical issues 21 Organizational concerns. 21 Financial Matters...
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...EXAMPLE 1 International litigation is often difficult to seize because of different procedures used by States and principles laying down procedures. These principles are related to the judicial conceptions that States have adopted. This point will be adressed latter in this introduction. On the other hand, International Convention, in a general or a specific view in relation to civil and commercial matter are enacted by States in order to uniform and harmonize body of rules applicable to international commercial litigation. For example, Lugano convention harmonized rules in order to determine competence of jurisdiction, or the Convention of Vienna on international sales of goods determines competence of jurisdiction and the law applicable. In order to explain which criterion is more important in the construction of private international law concerned with international commercial litigation, it will be relevant to focus this study on the rules of competence of jurisdiction. Besides the general system of conventions, as explained above, judicial traditions of countries can explain debates around the best ways to enact rules on international trade, and especially international litigations arise from commercial relationships between actors. Indeed, on one hand, common law countries focus on the role of the judge for the creation, the interpretation and the application of law rules. Some authors argue that the predominance of the judge in common law judicial system...
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...Business law Glossary Chapter 1 stare decisis “let the decision stand”; the principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future. administrative regulations rules made by state and federal administrative agencies. case law law that includes principles that are expressed for the first time in court decisions. common law the body of unwritten principles originally based upon the usages and customs of the community that were recognized and enforced by the courts. constitution a body of principles that establishes the structure of a government and the relationship of the government to the people who are governed. duty an obligation of law imposed on a person to perform or refrain from performing a certain act. equity the body of principles that originally developed because of the inadequacy of the rules then applied by the common law courts of England. law the order or pattern of rules that society establishes to govern the conduct of individuals and the relationships among them. precedent a decision of a court that stands as the law for a particular problem in the future. private law the rules and regulations parties agree to as part of their contractual relationships. procedural law the law that must be followed in enforcing rights and liabilities. right legal capacity to require another person to perform or refrain from an action. right of privacy...
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...CASE STUDY 8.1 PG 287 Disclosure of environmental liability By Lindene Patton C.I.H, Senior Vice President and Counsel, Zurich Around the world, companies are being required to meet higher levels of disclosure of environmental liability … in the United States, for example, the US Financial Accounting Standard Boards (FASB) issued provisions in 2002 for accounting for environmental liabilities on assets being retired from service. The provision for accounting for assets retirement obligations required companies to reserve environmental liabilities related to the eventual retirement of an assets if its fair market value could be reasonable estimated. The intent of the ruling was disclosure, but the conditional nature of estimating of fair market value caused corporations to take the position that they could defer their liability indefinitely by ‘mothballing’ a contaminated property. Companies effectively postponed the recognition of the environmental liabilities in the absence of pending or anticipated litigation. Earlier this year, FASB clarified its intention by providing an interpretation that said companies have a legal obligation to reserve for environmental and other liabilities associated with the eventual retirement of manufacturing facilities of parts of facilities, even when the timing or method of settlement in uncertain. Among examples given by FASB: * An asbestos-contaminated factory can not simply by ‘mothballd’ without adequate reserves to cover the eventual...
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...Like most fields of study the safety has a history of development. The idea of safety and health as a humanitarian ideal is a relatively new phenomena. As organized civilizations grew and became more sophisticated the size of the labor pool that was necessary to build buildings, goods, and perform services became much larger. Goal of early safety and health activities was to increase the working life span of slaves and indentured servants in an attempt to conserve the limited human resource. It was in the 19th and 20th centuries that the concept of the company obligation to protect the workers really evolved from abuses of workers during the great depression, and the rise of organized labor. Consequently changes in the safety health field are often motivated by great tragedies that focus public attention on risks in the workplace. The Goals of this unit: * Identify the historic trends in industrial safety * Identify events that have impacted industrial safety To complete this unit you must 1. Read the chapter in the book 2. Review the PowerPoint slides 3. Look into the Bhopal accident using the video and searching the Internet to answer the following under the "Assignment tab" for : Session 2: History of Safety. 1. How many died as a result of the accident? 2. What has been the long term effects of the accident on residents 3. Look at the total number of injuries and deaths over for any 2 years on the BLS web site for (Take a look at...
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...foundational text De Jure Belli ac Pacis(The Law of War and Peace, 1625). Much modern scholarship in international law has followed this strand of Grotius’ thought in orienting the subject to the problem of managing disputes. Since the late nineteenth century, generations of leading scholar-practitioners have shaped a view of international law which emphasizes legal doctrines and materials related to disputes: the specific rules one party to a dispute may invoke against another, the sources (e.g. treaty, custom) to which an international court will look to identify international law rules, the general principles (e.g. acquiescence, abuse of rights) that international courts have borrowed from national legal systems to help deal with international cases, the foundational principles of international law (e.g. state responsibility) enunciated by courts, the precedential implications of a specific decision or a specific settlement agreement. This focus owes much to the sociological model of the successful international lawyer as it developed in the English and French traditions of international law over the past century: that of the academically respected practitioner, primarily the world–wise professor-counsel or the erudite lawyer–civil servant, whose career involved both scholarship and representing litigants in the management of disputes, and might eventually culminate in becoming a judge or arbitrator in an international tribunal and an author of learned general courses and essays. Naturally...
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...Summary Report The Australian Institute for Commercialisaton Sean Smith 07 3364 0602 sean.smith@ausicom.com Grant Musgrove 1.0 Brisbane | Sydney | Melbourne | Adelaide | Cairns | Gold Coast | Rockhampton a: Head Office 33 McKechnie Drive, Eight Mile Plains, QLD 4113 p: PO Box 4012, Eight Mile Plains, QLD 4113 t: 1300 364 739 f: +61 7 3364 0786 w: www.ausicom.com ABN 84 076 854 638 www.ausicom.com ACOR TechClinics Summary Report July 2012 TABLE OF CONTENTS 1.0 EVENT SUMMARY 1.1 TechClinic® Objectives 1.2 About TechClinics 1.3 TechClinic® Agenda 1.4 The Australian Recycling Industry Value Chain 2.0 EXPERT PRESENTATIONS 2.1 ACOR TechClinics Introduction 2.2 Queensland Case Study – Used Lube Oil Recycling 2.3 South Australia Case Study – Best Practice Process 2.1 New South Wales Case Study – Industrial Ecology 2.2 ACCC and Industry Codes of Conduct 3.0 TECHCLINIC® WORKSHOPS 3.1 What are the Opportunities for the Australian Recycling Industry? 3.2 Issues and Constraints 3.3 Needs – Brainstorming Best Practice Criteria 3.3.1 Brainstorming Best Practice Criteria 3.3.2 Brainstorming and documenting best practice measures by resource stream 3.3.3 Brainstorming recycling facility types 4.0 ACTION PLANNING 5.0 CONCLUSION & SUMMARY 6.0 APPENDIX 1 – TECHCLINIC® INVITATION 7.0 APPENDIX 2 – ATTENDEE LIST 8.0 APPENDIX 3 – PRESENTATIONS FROM THE DAY 8.1 Rod Welford, CEO, Australian Council of Recycling 8.2 Richard Taylor, J.J. Richards & Sons – Brisbane TechClinic® 8.4 Megan Bray...
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...originally described in terms of a duty imposed by law and thus it will be seen that duty is one of the three key elements of negligence today. Negligence evolved as a means of loss-shifting at a time when there was little or no insurance or state welfare provision. The industrial revolution in the nineteenth century brought with it increased risks of injury to those working in factories, mines, quarries, and other dangerous situations. The development of railway transportation and mass production dramatically increased the potential for many people to be affected by the faulty conduct of strangers, at the same time that the development of incorporations meant that there would be a company to sue rather than an individual. The damage in such cases would have been personal injury or death and, to a lesser extent, property damage. The Workmen’s Compensation Act 1897 was the first step in the gradual introduction of compulsory compensation schemes for victims of accidents. It gave certain workers entitlement...
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...shareholders In many ways, 2011 was an amazing year. At times, the year felt like a story from the book of Genesis, with the Japanese earthquake, tsunami and subsequent nuclear issues, the flooding in Thailand late in the year, tornadoes in the southern United States, and revolution in North Africa. Matters were further complicated in 2011 by the sovereign debt issue in Greece, worries about Italy’s solvency and the economic downturn in Europe. We must offer special recognition here to our Japanese colleagues for their wonderful efforts in 2011 and to their entire nation for the dignified and orderly way in which they dealt with the tsunami and related challenges. They have my profound personal admiration. Through all of this, while dealing in many cases with enormous personal challenges presented by these disasters, 3M’s people also met the business challenges and once again delivered strong results. George W. Buckley Chairman of the Board, President and Chief Executive Officer Despite all this turbulence, full-year sales increased 11 percent to $29.6 billion, with double-digit growth in Industrial and Transportation; Safety, Security and Protection Services; and Health Care. Operating margins were 20.9 percent for the company, and all businesses delivered margins of 20 percent or higher, which is an amazing feat of consistency. Inge G. Thulin named President and Chief Executive Officer, 3M Company, Feb. 24, 2012 Inge G. Thulin, 58, was named president and chief executive officer of...
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