June 2006
Monthly Archives: June 2006
Labor Unions say US asbestos fund needs billions quickly
Reuters reported this week about half the $124 billion proposed for a national asbestos victims fund would be needed within five years, according to organized labor which is participanting in talks on creating such a fund.
It was reported the AFL-CIO analysis surprised business representatives and insurers at the negotiations trying to craft the fund to replace asbestos injury lawsuits that are said to be crippling many companies. “It appears to be a step away from the table, as opposed to a step towards agreement,” said Julie Rochman, spokeswoman for the American Insurance Association.