Nils Michael -ATX PhotographerFeb 26, 2025
More from @ @kingbeeatx

#texas #austintexas #blackandwhitephotography #nikonphotography #dancing #atx #countrymusic #nikonnofilter #austintx #igaustin #austinlife #honkytonk #texasdancing #twostep #atxphotographer #texascountry #dancehall #austinevents #austinnightlife #texastwostep #atxlife #austindancehalls #nikonzf #texashonkytonk #atxdancing #austintwostep #texasdancehalls #kingbeeatx #atxcountrydancing #honkytonkatx
Nils Michael -ATX PhotographerFeb 20, 2025
Such an awesome show from @ @sharpdressednines and so fun to capture @ @blameitallonmyboots dancing at @ @kingbeeatx!

#texas #austintexas #blackandwhitephotography #nikonphotography #dancing #atx #countrymusic #nikonnofilter #austintx #igaustin #austinlife #honkytonk #texasdancing #twostep #atxphotographer #texascountry #dancehall #austinevents #austinnightlife #texastwostep #atxlife #austindancehalls #nikonzf #texashonkytonk #atxdancing #austintwostep #texasdancehalls #kingbeeatx #atxcountrydancing #honkytonkatx
YazadDec 11, 2024

How #johnson&johnson uses #bankruptcy triks in #texas to further victimize baby powder #cancer patients.

https://youtu.be/tpxzjGxSjA8?si=fpbvP6MCp7YlzJLB

#greed #johnsonnjohnson #tx #USpol #classaction #fedilaw #jnj #texasTwoStep

Why One of the Richest Companies in America Is Declaring Bankruptcy

YouTube
Show threadCory DoctorowOct 16, 2023

When a giant corporation goes bankrupt, it emerges shorn of its union pension obligations and liabilities to workers and customers it abused or killed, and continues on, re-offending at will. Big companies have mastered the #TexasTwoStep, whereby a company creates a subsidiary that inherits all its liabilities, but not its assets. The liability-burdened company is declared bankrupt, and the company's sins are shriven at the bang of a judge's gavel:

https://pluralistic.net/2023/02/01/j-and-j-jk/#risible-gambit

6/

Pluralistic: Johnson and Johnson’s bankruptcy gambit fails (01 Feb 2023) – Pluralistic: Daily links from Cory Doctorow

Peter RileyOct 4, 2023

https://www.theguardian.com/us-news/2023/oct/04/asbestos-mesothelioma-victims-compensation-certainteed

#asbestos #capitalism #mesothelioma #TexasTwoStep

‘They made a huge profit knowing they’d kill people’: US firms use tactics to avoid paying asbestos victims

Advocates say corporate strategy known as ‘Texas two-step’ is being used as ‘menu choice’ to avoid paying compensation

The Guardian
corpwatchSep 20, 2023

Prison healthcare provider Corizon Health Inc. split into two U.S. companies - Tehum Care Services and YesCare. Tehum was given over 1,000 legal claims (such as 660 charges of malpractice) of $82 million so it declared bankruptcy, while YesCare kept all the business.

#TexasTwoStep

https://www.usatoday.com/story/news/nation/2023/09/19/corizon-yescare-private-prison-healthcare-bankruptcy/70892593007/

A prison medical company faced lawsuits from incarcerated people. Then it went ‘bankrupt.’

The prison giant Corizon spun off a new company, which could allow it to pay pennies on the dollar for medical malpractice and civil rights claims.

USA TODAY
Show threadVictoria Stuart 🇨🇦 🏳️‍⚧️Jul 17, 2023

... cont'd

Texas two-step bankruptcy
https://en.wikipedia.org/wiki/Texas_two-step_bankruptcy#Subsequent_Chapter_11_bankruptcy

Once the parent company has created a spin-off containing the parent's former liabilities, the spin-off declares chapter 11 bankruptcy but remains in control as a debtor in possession.

E.g. when Johnson & Johnson entered into a Texas two-step through its spin-off LTL Management LLC, J&J's other divisions continued to operate unencumbered, and J&J maintained its AAA credit rating.
...

#CorporateEthics #talc #cancer #TexasTwoStep

Texas two-step bankruptcy - Wikipedia

MufasaFeb 8, 2023

Appeals court clears the way for more lawsuits over Johnson's Baby Powder

The 3rd U.S. Circuit Court of Appeals dismissed a bankruptcy filing by a Johnson & Johnson spinoff company, ruling that the company was not in genuine financial distress.

The court noted that the spinoff company still has access to Johnson & Johnson's assets, worth an estimated $61.5 billion.

#JohnsonAndJohnson #BabyPowder #LTLManagement #Bankruptcy #TexasTwoStep #Talc #Asbestos #Cancer #Lawsuit
https://www.npr.org/2023/01/30/1152600293/appeals-court-clears-the-way-for-more-lawsuits-over-johnsons-baby-powder

Cory DoctorowFeb 1, 2023

The 3d Circuit #CourtOfAppeals has foiled #JohnsonAndJohnson's plan to use a bankruptcy scam called the #TexasTwoStep to escape paying 40,000 women, injured when the pharma giant sold them asbestos-tainted talcum powder to dust over their vulvas, leading to gruesome cancers:

https://www.wxxinews.org/2023-01-30/appeals-court-clears-the-way-for-more-lawsuits-over-johnsons-baby-powder

If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/02/01/j-and-j-jk/#risible-gambit

1/

Appeals court clears the way for more lawsuits over Johnson's Baby Powder

A U.S. appeals court has dismissed the bankruptcy case filed by a Johnson & Johnson spinoff company. Around 40,000 cancer patients have filed suit, alleging the powder was contaminated with asbestos.

WXXI News