Tuesday, April 24, 2012

J&J – ALEC Corporate Profit Sector Member.

J&J – ALEC Corporate Profit Sector Member.

 An excellent editorial on PR Watch this morning.

It kinda gives you a heads up with Johnson and Johnson are ALEC lovers.

Evidently Johnson and Johnson are probably really big fans of the ALEC Tort Reform Bootcamp booklet when it came out.  Johnson and Johnson must have sent a big ol’ congratulatory note to Scott Walker after passing his tort reform bill the first day in office.

I bet there is still a lot of money going back and forth between J&J and ALEC – to keep ALEC afloat.

Hey – J&J – get ready to pay back taxes and fines on that money you have and are giving to ALEC (donating - hah!)!
US taxpayers want that money you claimed as a deduction to a charity -  back - in taxes and fines.

A snip form the editorial on PR Watch – Read the whole thing >>>>HERE<<<<

Defective Products
Rolaids antacids were subject to a massive voluntary recall in 2010 due to contamination with a chemical called 2,4,6-tribromoanisole (TBA). Johnson & Johnson also recalled more than 135 million units of children's Tylenol, Benadryl, and Motrin medicines in 2010 for possible bacterial contamination and the presence of small metal parts.

In 2010, Johnson & Johnson’s then-CEO, William Weldon, was called before Congress after regulators learned that the company had also engaged in “stealth” recalls by buying up products -- supplies of the pain killer, Motrin -- rather than notifying the public of its need to recall defective Motrin tablets.

And, just this month, on April 10, a jury determined that a Johnson & Johnson subsidiary had downplayed and had hidden risks associated with the antipsychotic drug Risperdal. The Arkansas Attorney General is seeking fines of at least $1.1 billion for the 250,000 prescriptions of this drug that the state’s Medicaid program paid for over three and a half years. Johnson & Johnson is involved in other claims about this and other products as well.

For example, Johnson & Johnson has faced lawsuits over defective heart stents as well as hip replacement parts, the failure of which put at-risk American patients at additional risk from more surgery to address these defective medical devices. In the case of the defective hip joints, some recipients have experienced degradation of the soft tissue around the joint, leaving injured Americans unable to fully replace the defective part and instead suffering long-term disability in their mobility.

Through ALEC's "tort" task force, global corporations like Johnson & Johnson underwrite an agenda that would bar American families from suing if their loved one dies as a result of a drug if that drug were approved by the FDA. ALEC has pursued such legislation despite the long-history of inadequate regulation by the FDA and numerous recalls of dangerous or defective drugs--including numerous drugs manufactured by Johnson & Johnson.

Therefore, the question for investors becomes one of identifying the risks associated with companies that don’t share Coca-Cola’s discretion.  Understanding that companies act in the interest of their bottom line (and, hence, their value to investors), one wonders what function ALEC membership serves if a company like Coca-Cola no longer finds them a compatible partner.

Tell me J&J – how does having ALEC as a “compatible partner” affect your "bottom line".
J&J – ALEC Corporate Profit Sector Member.

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