BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 6, 2013
Columbia chemical maker W.R. Grace & Co. reported profits Wednesday of $94.1 million last year, a big slide from 2011 that was driven by the company's $365 million non-cash charge for asbestos liabilities. But the charge, announced in January, was lower than expected for the fourth quarter. Wall Street seemed pleased by the earnings report and the company's rosier outlook for 2013 - Grace's stock was up nearly 4 percent in late morning trading, to about $75.40 a share. The company said it expects adjusted earnings before interest and taxes for this year will rise 8 to 12 percent over the same measure last year.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | January 24, 2013
Chemical maker W.R. Grace & Co. said Thursday it will adjust the estimated cost of settling its asbestos-related liabilities to $2 billion from the previous estimate of $1.7 billion. The increase reflects higher estimated values of a common stock warrant and deferred payment obligations to be paid to a trust to compensate personal-injury claimants and property owners under the company's bankruptcy reorganization. The company filed for Chapter 11 protection in 2001, partly as a result of asbestos-related lawsuits filed by residents of Libby, Mont., and others.
NEWS
By Andrea F. Siegel, The Baltimore Sun | December 17, 2012
An effort to revive more than 13,000 lawsuits filed by people who contend they were sickened by absestos was met with sharp objections Monday by lawyers for potential defendants. Plaintiffs' attorneys said consolidating some of the lawsuits would help people who have seen their cases languish for years. But defense lawyers told a Baltimore judge that the proposal — which made a fortune for the Law Firm of Peter Angelos previously — was unworkable and unfair. Opponents criricized the Angelos fim's suggestion for these cases, for people with a range of cancers but not mesothelioma, which has been closely linked to asbestos exposure.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | August 23, 2012
John Thomas "Dick" Burda, a retired asbestos worker and former Howard County resident, died Sunday of lung cancer at Gilchrist Hospice in Towson. He was 83. Born in Baltimore and raised in Edmondson Village, Mr. Burda attended city public schools. He served with the Marine Corps in Korea during the Korean War, where he was wounded. He was later awarded the Purple Heart. For 35 years until retiring in 1989, Mr. Burda worked out of Pipe Coverers' Union 11, which is now Local 24. The longtime Ellicott City resident moved to Ocean Pines 15 years ago. He was an avid golfer and enjoyed fishing and crabbing with his family.
NEWS
By Yvonne Wenger, The Baltimore Sun | March 16, 2012
An advocacy group filed a complaint Friday with the federal government alleging that a Baltimore-based company put hundreds of employees at risk by failing to protect them against asbestos. Alexandra Rosenblatt and Jonathan F. Harris, staff lawyers with the Public Justice Center, said WMS Solutions LLC required its employees, who typically earn from $11 to $14 an hour, to pay for medical exams, training and protective equipment such as gloves, goggles and respirators. If workers didn't pay upfront, the costs were deducted from their paychecks, according to the complaint.
EXPLORE
October 26, 2011
An article in the Oct. 28, 1911 edition of The Argus reported on the determined effort by a local football club in a loss to a Naval Academy plebe team in Annapolis. The football team of fourth-class midshipmen of the Navy met the team of Catonsville Country Club, on the academy gridiron Wednesday and rolled up 15 points to their opponents' nothing. But the visitors made the plebes work hard to do it. The sailor lads not only outweighed the Catonsvillians, but they also displayed a greater variety of plays that kept the club boys guessing.