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$DD) Handbook –Spin, Deny, Delay $CC $CTVA


 

 

#Cleantech #Podcast – #ForeverChemicals and the DuPont (NYSE: $DD) Handbook
–Spin, Deny, Delay $CC $CTVA

 

November 17, 2023 – Investorideas.com, a world information supply and main investor
useful resource overlaying cleantech shares points a brand new version of the
Cleantech and Local weather Change Podcast.     

 

Hearken to the Podcast:

https://www.investorideas.com/Audio/Podcasts/2023/111723-Cleantech.mp3

 

Learn this in full at https://www.investorideas.com/information/2023/cleantech-podcasts/11171DuPont.asp

 

Hear
to the cleantech and local weather change podcast on Spotify

 

Transcript:

 

Good morning and welcome to
at present’s podcast. Immediately I want to pose the query, ‘What occurs when an organization
contaminates us with chemical compounds that final without end, poisoning our water and soil
for generations to return?’  Nicely, in case you are
DuPont
(NYSE: DD), you’ve gotten a readymade handbook to create spin-offs,
delay courtroom proceedings, deny any wrongdoing and pay settlement fines, provided that
mandatory and simply go about your enterprise as all the time.

 

To clarify in easy phrases
what these without end chemical compounds are and the large issues they symbolize,
NRDC.org (the Pure Assets Protection Council) one of many organizations
making an attempt to holding polluters accountable,
explains:

 

“Nonstick cookware, grease-resistant meals
packaging, and waterproof clothes are all merchandise that make our every day lives
much less messy, however that comfort comes at a price.

 

A category of artifical chemical compounds referred to as PFAS—which
stands for per- and polyfluoroalkyl substances—is a part of what makes these
client items water-, stain-, and grease-resistant. PFAS are additionally poisonous at
extraordinarily low ranges (i.e. components per quadrillion), posing vital dangers to
our well being. And if you happen to’re questioning why they’re referred to as “without end chemical compounds,”
it’s as a result of they’re practically indestructible.

 

Sadly, PFAS are nearly unattainable to keep away from.
They’re present in our properties, our places of work, our supermarkets—virtually
in all places.”

 

 

When you spend a couple of moments on-line trying to find PFAS
litigation towards Dupont, you’ll find a really lengthy historic checklist of litigation
that has been in courtroom for years. Dupont and different giant firms like them
play the lengthy sport and are prepared to pay the massive authorized payments whereas they create
company spin-offs, change the title of their merchandise and maintain producing
earnings.

 

Violation tracker experiences a penalty whole since 2000 of $1,287,936,396 and variety of information: at
241, of which environmental violation penalties have been $648,481,945 with 177 information.

 

In June of this 12 months, The Chemours Firm (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) introduced they reached an settlement in precept
to comprehensively resolve all PFAS-related ingesting water claims of an outlined
class of public water methods that serve the overwhelming majority of the USA
inhabitants.

 

Continued from their information: The
class contains water methods with a present detection of PFAS1 at any degree and
these which are at present required to observe for the presence of PFAS beneath EPA
monitoring rules2 or different relevant legal guidelines. This contains however is just not restricted to
methods within the South Carolina aqueous film-forming foam multi-district litigation.

 

The businesses will collectively set up and
contribute a complete of $1.185 billion to a settlement fund (“water district
settlement fund”). Contribution charges will probably be per the binding
Memorandum of Understanding between the businesses reached in January 2021, with
Chemours contributing 50 p.c (about $592 million), and DuPont (about $400
million) and Corteva (about $193 million) collectively contributing the
remaining 50 p.c. The settlement quantities will probably be funded by the businesses in
full and deposited into the water district settlement fund inside ten enterprise
days following preliminary approval of the settlement by the Court docket.   

 

DuPont generated over 13 billion U.S. {dollars} of income in 2022.
Corteva’s income for the twelve months ending September 30, 2023 was $17.344
billion. Chemours 2022 Web Gross sales
have been 
$6.8 billion.

 

Simply to readability, this incestuous pool of gamers
are all spin-offs of the identical firm. The Chemours Firm is an American
chemical firm that was based in July 2015 as a spin-off from DuPont.

 

After which you need to take a look at the Dow (NYSE: DOW)/Dupont (NYSE: DD) merger
(Aug. 31, 2017) that later modified once more. The dissolution of DowDuPont was
accomplished on June 1, 2019, splitting the corporate into three completely different segments;
Dow, Dupont, and Corteva.

 

Dupont explains to shareholders: “When our firm was created via
the merger of equals transaction between The Dow Chemical Firm and E. I. du
Pont de Nemours and Firm, we introduced our intention to separate into three
impartial, publicly traded firms – one for every of our agriculture,
supplies science and specialty merchandise companies. On April 1, 2019, we
accomplished the separation of the supplies science enterprise via the spin-off
of Dow Inc.  and our stockholders
obtained one (1) share of Dow inventory for each three (3) shares of DowDuPont
widespread inventory held on that date. That is what we discuss with because the Dow
Distribution.

 

On June 1, 2019, we accomplished the
separation of the agriculture enterprise, via the spin-off of Corteva,
Inc.  and our stockholders obtained one
(1) share of Corteva widespread inventory for each three (3) shares of DowDuPont
widespread inventory they held on that date. That is what we discuss with because the Corteva
Distribution. In each circumstances, DowDuPont stockholders obtained or will obtain
money in lieu of any fractional shares of the widespread inventory of Dow Inc. or
Corteva, Inc.”

  

That is clearly a gameplay that they took from
Abbott and Costello –
Who’s on First.

 

So why so many spin-offs? An article from
Promarket.org entitled “
How Firms Spin off Environmental
Liabilities to Keep away from Authorized Obligations
” provides some perception.

 

“In 2015, DuPont spun off specialty chemical compounds
companies right into a separate firm referred to as Chemours. Chemours produced
fluoroproducts, essentially the most well-known of which was Teflon, and different efficiency
chemical compounds.

 

Inside a 12 months, Chemours misplaced three consecutive
circumstances discovering perfluorooctanoic acid (in any other case referred to as PFOA or C-8, an enter
within the manufacturing of Teflon) was liable for a spread of ailments, together with
most cancers. Whereas the person awards have been small, amounting to a number of hundred
thousand {dollars} to a couple million every, the variety of circumstances exceeded 3,400.

 

In 2017, the corporate, collectively with DuPont, agreed
to pay $671 million to settle sure claims involving PFOA—with every firm
liable for half.

 

This settlement didn’t put Chemours’ legacy
liabilities behind it. In 2019, the corporate sued its former mum or dad alleging its
environmental liabilities enormously exceeded these reported at spin: $2.5
billion, or 5 occasions the quantity accrued. Liabilities included these unrelated
to efficiency chemical compounds, together with DuPont’s legacy publicity to explosives,
asbestos, and benzene. Chemours obtained two-thirds of DuPont’s environmental
liabilities however solely 19 p.c of income—along with $4 billion in debt.

 

The decide dismissed the lawsuit—ruling no
jurisdiction—and despatched the matter to arbitration. A settlement has not been
reached.”

 

So did Dupont know what was taking place all alongside?

 

UCSF has reportedIn accordance
to a 1970 inner memo, DuPont-funded Haskell Laboratory discovered C8 (considered one of
1000’s of PFAS) to be “extremely poisonous when inhaled and reasonably poisonous when
ingested.” And in a 1979 non-public report for DuPont, Haskell labs discovered that
canines who have been uncovered to a single dose of PFOA ‘died two days after ingestion.”

 

What you put money into is finally as much as you. All I
ask is that you simply change into knowledgeable, awake and discerning. It’s one factor to lose
or earn a living; I really like the potential for making a living within the inventory market.
Firms succeed and a few fail – that’s the danger.

 

It’s a complete different sport to put money into an organization
that toxins a planet.

 

About
podcast host:-
Daybreak
Van Zant
– founding father of Investorideas

Daybreak Van
Zant is a feminine pioneer within the monetary markets sitting in each seat as a
dealer, a dealer, IR and PR earlier than lastly beginning Investorideas. She has been
featured in interviews in Enterprise Week, CNN Monetary TV, CBS Market watch
radio and different monetary publications on-line, radio and print, speaking about
renewable vitality, water and homeland protection shares.

 

 

If you’re a small firm doing huge issues to profit our water and our
atmosphere I’d love to listen to from you and inform your story.

 

Thanks, that’s it for at present. Do one thing good for this stunning planet
each day.

 

 

If you want to be a visitor on this podcast and
inform your story please name me at 800 665 0411

Or attain out at Linkedin

 

Go to the Cleantech and Local weather Change Podcast web page at Investorideas.com

 

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