Bayer Pays $10 Billion To Settle Thousands Of Monsanto Glyphosate Lawsuits
Posted by freedomforall 3 years, 10 months ago to Business
Citing people familiar with the matter, German newspaper Handelsblatt reported that the company has agreed to settle tens of thousands of glyphosate-related lawsuits in the US for between $8 billion to $10 billion.
Of that number, $2 billion is considered a "reserve" which can be used to settle future claims.
The rest will be used to settle all of the lawsuits pending in the United States from users of the controversial weed killer, the number of active lawsuits against the Roundup purveyor recently numbered more than 50k.
Talks for an out of court settlement have been ongoing since last summer.
Last year, scientists evaluated a batch of existing studies and determined that Monsanto's ubiquitous weed-killer Roundup and its active ingredient glyphosate increased cancer risk of non-Hodgkin lymphoma (NHL) by 41%, according to a research published in February 2019. Back in 2018, a San Francisco Jury awarded $289 million in damages to a former school groundskeeper, Dewayne Johnson, who said Monsanto's Roundup weedkiller gave him terminal cancer. That award consisted of $40 million in compensatory damages and $250 million in punitive damages.
Of that number, $2 billion is considered a "reserve" which can be used to settle future claims.
The rest will be used to settle all of the lawsuits pending in the United States from users of the controversial weed killer, the number of active lawsuits against the Roundup purveyor recently numbered more than 50k.
Talks for an out of court settlement have been ongoing since last summer.
Last year, scientists evaluated a batch of existing studies and determined that Monsanto's ubiquitous weed-killer Roundup and its active ingredient glyphosate increased cancer risk of non-Hodgkin lymphoma (NHL) by 41%, according to a research published in February 2019. Back in 2018, a San Francisco Jury awarded $289 million in damages to a former school groundskeeper, Dewayne Johnson, who said Monsanto's Roundup weedkiller gave him terminal cancer. That award consisted of $40 million in compensatory damages and $250 million in punitive damages.
Did Monsanto warn people to be careful when using the product.
Did Monsanto force people to use the product?
My point is that there is always a trade. I choose A at the expense of B. Eliminate fraud and force -- then we make our own decisions and live with the consequences. Perhaps Monsanto is guilty of one or both? Apparently the court thought so. It does not seem clear to me but I did not listen to the arguments.
BTW 41% increase in getting NHL is how much? I saw no figure for the probability of getting NHL.
https://www.epa.gov/pesticides/epa-fi....
Downside is higher food prices due to labor costs until ingenious producers find a better robotic way to till and weed. Tilling and weeding - good job for the women's studies graduates who can't serve burgers in closed restaurants. Of course, there would be some broken fingernails for bleeding hearts.
If it's anything like agent orange...well...you probably know...
My concern is that this stuff is in a great deal of our food. It better friggin be harmless...
We Americans, I'm sorry to say, are a little too cavalier with our health, our food, etc...
I got out of medical equipment manufacturing years ago just for this reason. You could work 15 years building up a business and lose it all to a shutdown order by the FDA, or one lawsuit. Not worth the risk.
I guess my question is this: if you aren't taking the proper precautions when applying the product and you get it on you - especially day after day - should the company really be responsible? Having used Roundup for 30+ years, I note that the packaging has always advised to take precautions when using the product and not to get it on you. I always wore long pants and shoes (preferably rubber irrigating boots) when applying Roundup with a wand applicator and backpack sprayer. I made sure to never spray when it was too windy (mostly because the overspray will kill the good plants) and I always washed the clothing I wore and showered thoroughly afterward, recognizing that if the stuff was that nasty to plants, it probably wasn't good for humans either. I have to admit I'm having a hard time drawing the line on this one...
The right word is extortion- you have money, we want it.
Now it is Monsanto, same same.
It works, so expect to see more. The motivation is the same as looting, mindless, when the wokists go after their supporters who have even more money, there may possibly, be some re-thinking.
It's like law suits in general, how it goes down never made any sense to me. You are clearly harmed by X, so you seek restitution for the wrong doing and it only amounts to Y, but with all the hassel, with all the denial and stalling...you end up getting (10 X Y.)..would have be cheaper for them to pay Y and call it a day.
Why oh why doesn't it work that way...they are their own worst enemy.
$10 billion amortized over x billion quarts of Roundup. It amounts to about 5 years (2015) profits from Roundup for Bayer. Bayer also makes about $6 billion profit a year on genetically modified seed (and other genetic products). That profit is also greatly dependent on use of Roundup and the generic copies of glyphosate made by other companies. Bayer can cut their own sales of Roundup to look good to the public while still raking in profits on genetic products dependent on glyphosate sold by other companies. Those sales are protected from suits by the "Monsanto Protection Act" passed by con-gress, written by Monsanto, and signed by Obama in spite of the public outcry against it. Obama had "flexibility" for Monsanto since he wasn't running for another term in 2013. How many times did he give away American's lives and rights for his "30 pieces of silver?"
Bayer lost a couple of judgments of $80-90 million each. This settlement is about $238 thousand per plaintiff and that's a bargain to the Bayer accountants. According to the EPA (an admittedly biased source) about 10,400 people die each year from ALL pesticide use so Bayer had to expect some lawsuits in their business. Compare that to about 250 a year from so-called assault rifles. Con-gress is filled with hypocrites and looters.
https://www.ted.com/talks/allan_savor...
Basically, if we raise Cattle in a holistic manner. Using their manure, letting chickens feed after they do, moving the cows around.
Then the chickens, etc. Then we actually sequester carbon, and grow "soil"... Without the chemicals.
And the reason we have all these "pesticides" was because war companies had extra "chemicals" no longer needed for bombs. So into the soil it went.
Then the hunt for pesticides followed. Instead of doing it more inline with nature.
Now the problem is, before pesticides, we lost a X% of all crops to infestations... So, economically, if you could cut X in 1/2 without spending too much, it made sense. It SHOULD NOT. Because what did we learn. Within 2-3 years, the infestations adapted, and we end up with X% still. The SAME X%. LOL. But now we made infestations that could REALLY RAVAGE unprotected farms. THIS was 100% in the interest of the pesticide makers.
Ending up with GMO food, that CONTAINS the pesticide pieces INSIDE the crops. This and man-made lectins in Wheat, I BELIEVE, are at the base of the obesity and inflammation problems in the world today. I, personally, am highly sensitive to these, and removing them from my diet has CHANGED MY LIFE!
But government was paying these companies so well, they had slush funds and extra chemicals, and already defined processes for making more... Why stop? The harm (if any), wouldn't be noticed, and "progress" made it worth while. (typical justifications). Now, THAT can be taken too far, and the prevention of using FIRE and ELECTRICITY could be argued in a similar way! But there are 2 COLUMNS: PROS and CONS. Today, it's clear the CONS out weigh the PROS!
Add worm farms to the grow the soil side, too.
Now, if I can just keep the possums from nibbling my pepper plants.
It's too bad the political system itself prevents progress.
I fear that there is no peaceful solution to that problem.
So far they have temporarily halted production of Serrano (10,000), Mexican cherry bomb (5,000), Gambo (sweet), Fresno (10,000), Thai Birdseye (100,000), Brazilian Starfish (20,000), and Pimento (500).
Scoville ratings in ()
I am offering the brutes some bacon but they are avoiding the trap so far.
Today's wheat was developed originally to make starving kids in Africa FAT...they conveniently forgot the nutrition part...
(FWIW, Japan is next on my list)
I would ESTIMATE that 80% of the land on the planet is not in use. And that 80% of the population lives on about 5% of it.
A LONG drive through TN, KY, Montana... Will surprise some people... Same thing for a train ride through France.
There was a Ted Talk where the guy explained... As countries mature, they have fewer children. Over time, societies like Japan will fade away,
as they have negative population growth. The USA as well, as we already see the majority being replaced artificially. In 6 generations, we will
not recognize our country...
But the prediction was that at about 8 Billion population, the populations would start shrinking. Child mortality would be much LOWER, and the poorest parents could have fewer children. That group is THE driver of the current growth. Well, that group and a couple of religions I wont mention...
Anyways, as people become wealthier, they focus on wealth preservation, and naturally have fewer children that they can invest more into.
My Grandma had 12 children, My Mom had 4, 2 brothers each had 2, I have 1... NONE of that generation is producing offspring with my daughter being the youngest at 21... I would say 50/50 she wont have kids. True shame, 'cause she has AMAZING Genes... Super Bright.
Idiocracy is no longer humor... LOL
But we could feed our entire country BEEF every day, if we raised cattle properly. While preserving nature, and producing healthier chickens, and better eggs!
Wish I paid more attention to at least give you a little tid bit but I just didn't have a spare neuron at the time...laughing
Honest science applied to time tested ways is the best way to go. For food, for medicine, for mankind.
I am presently waiting for 10 early tomatoes to ripen so I can eat them...
Started my plants indoors under a great full spectrum grow light back in April...couldn't plant them till early June...just like the last few years.
I have about 150 green cherry tomatoes so far, in various stages of ripening at present. Still have a couple weeks before any will be ripe, I think.
(It's difficult to get good beefsteaks or heritage tomatoes here where we get over 90F for long periods of summer.)
My beefsteaks took forever to ripen last year and each ended up with bad spots. This year I am trying something I listen to online. 600mg of asprin, mixed with a gallon of water and sprayed on the leaves,promotes root growth, immune enhancement and better tasting fruit...
I'll let you know if it works.
The video was titled: Grow tomatoes, not leaves.