I wonder how this new law will help these women. Or asbesto victims, etc. Between this hiding behind women's skirts to screw small debtors(I assume this has something to do with the coming unemployment bankrupts), the digusting CS article about the poor, underserved right-wingy-dingies as I'm reading of their truly evil media machine in Brocks book, blaming the plunge in the price of gold on blacks, and the feeling I have that all these corporate tragedies are going to make a few folks a whole lot richer and thus more powerful, I'm starting to get seriously depressed.
snip Dow Corning, a joint venture of Dow Chemical Co . and Corning Inc. , has been operating under Chapter 11 bankruptcy protection since 1995. The filing was prompted by lawsuits by thousands of women who alleged that its silicone- breast implants caused health problems.
####### Friday July 26, 12:36 pm Eastern Time Dow Jones Business News Dow Corning's 2nd-Quarter Net Soared, Helped by Mild Upturn in Sales
MIDLAND, Mich. -- Dow Corning Corp.'s second-quarter profit soared from the year-earlier period, when the results were weighed down by an expense stemming from its Chapter 11 bankruptcy proceedings.
The maker of silicone-based products Friday reported net income of $40 million, or $16 a share, compared with $7.7 million, or $3.08 a share, a year earlier.
The results for the latest quarter included a charge of $6.4 million for restructuring expenses. The company announced plans in February to cut about 700 jobs, or 8.2% of its global work force, to reduce costs.
The results benefited by comparison to the year-earlier figures, which included a charge of $36.7 million for Chapter 11 interest-expense adjustments.
Sales rose 5.6% to $649.7 million from $615.5 million.
"Sales growth resumed in the second quarter, but the upturn has been mild," Gifford E. Brown, chief financial officer and vice president for planning and finance, said in a statement.
"Profitability has also improved, reflecting the successful implementation of our restructuring efforts," Mr. Brown said.
Dow Corning, a joint venture of Dow Chemical Co . and Corning Inc. , has been operating under Chapter 11 bankruptcy protection since 1995. The filing was prompted by lawsuits by thousands of women who alleged that its silicone- breast implants caused health problems.