Company Directors Vote on 130% Raise as Victims Suffer

By: William Gallahue
Submitted: 2007-01-17 16:24:51
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Sydney, Australia - Imagine working your entire life as a blue collar employee of a large industrial plant spending countless hours to make products that people depend upon and just hoping to one day retire and live the rest of your life in comfort and peace.

For thousands of workers who were employed by James Hardie Industries during the middle of the century, this was there dream. They didn’t know at the time that the products they manufactured contained asbestos and was making them sick.

Years later many of them have died painful and preventable deaths caused by asbestos exposure and their former employer is doing everything it can to prevent paying the price for their deaths.

This week at the annual board meeting, they are trying to approve a 130% raise for their members as a 3 year battle to create a victim’s compensation fund continues.

Limiting Liability

During the late 1990s and early 2000s, James Hardie Industries aggressively restructured the company to minimize their exposure to financial liability for asbestos claims. In 2001 it set up a front organization the “Medical Research and Compensation Foundation” which was aimed at providing victims with compensation.

However the committee has been heavily criticized by both internal and external observers as being wholly inadequate in terms compensation and distribution of funds. A plan to overhaul the foundation has been “in the works” over the past 3 years but nothing has been made in the way of progress.

What’s Next

James Hardie chairman Meredith Hellicar has stated that the delays in overhauling the foundation are attributed to making sure it has long term viability to pay out current and future claims.

However employees and members of medical groups have feel that unless a representative for victims is appointed to the board, the funding problems will continue.

There are signs of reform for the much maligned company, now headquartered in the Netherlands. Recent investigations by Australian authorities and internal restructuring have focused company energy to resolving their long-standing dispute with asbestos litigants but this week’s news is certainly a step in the wrong direction.

-William Gallahue

William Gallahue is an internet journalist who covers a number of topics. Please visit Asbestos and Mesothelioma for more information.

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