Octus Radio Americas Core Credit: Johnson & Johnson “Texas Two-Step” Strategy and Yak Access (Sept. 17, 2021)
Sep 20, 2021
Dive into the intriguing legal strategies of Johnson & Johnson as they tackle talc liabilities with a bold Chapter 11 maneuver. Explore the financial hurdles faced by Yak Access and the shifts in Cornerstone Chemical's operations post-Hurricane Ida. Learn about the rising raw material costs and significant legislative updates shaping Puerto Rico's fiscal future. This episode reveals the complex interplay of corporate strategies and economic conditions, providing insights into the ever-evolving financial landscape.
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Johnson & Johnson Defends Strategy
- Johnson & Johnson asserts that blocking its Texas two-step Chapter 11 strategy is unprecedented and unconstitutional.
- The company emphasizes that lawsuits cannot interfere with its management decisions or corporate functions.
Yak Access Lender Concerns
- Yak Access lenders are organizing due to liquidity concerns after a weak second quarter.
- The company is trying to diversify from oil and gas access mats to power markets, though some lenders remain skeptical.
Cornerstone Chemical Faces Disruption
- Cornerstone Chemical's Louisiana plant closure after Hurricane Ida disrupts production amid improving financials.
- Though damage was minimal, the outage coincides with rising EBITDA and revenue fueled by higher product prices.