James Hardie Compo - Aussie Stock Forums

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  1. #1

    Default James Hardie Compo

    Should the tax payers be giving tax breaks to James Hardie to compensate victims of asbestos related diseases?

  2. #2

    Default Re: James Hardie Compo

    Ideally the tax payer shouldn't be asked to fork out but the most important consideration is that the workers actually get compensation. If James Hardie simply doesn't have the money (?) then there doesn't seem to be much option other than for tax payers to pay the bill. Not ideal but maybe the only option.

    Both private enterprise and government knew of the dangers of asbestos well before most of it was mined / processed in this country. They went ahead and used it for everything from cable pits in the ground (those white concrete-looking Telstra pits are made of asbestos as are many others) to roofing material and thermal / fire protection lagging in commercial and industrial buildings (power stations are full of it, so are shopping centres). I even found an asbestos planter box at my mothers house (thankfully always kept outside and not handled). If you're in Adelaide then there's plenty of houses with upside down boxes covering water (or gas?) meters that are made of asbestos sitting bare in the middle of the front lawn. And that's just scratching the surface - odds are that you've been in at least one building virtually full of asbestos today. And don't even mention the brake dust from underground trains, bakealite products, household switchboards, interior walls in bathrooms and kitchens, car brakes, fibre reinforced concrete, house insulation (mostly around Canberra), heater door seals, common general purpose putty (the grey stuff sold in brown paper packets many years ago), "brick board" panneling on houses... And of course that's without even mentioning "fibro", the polite term for "asbestos cement sheeting".

    If your house is old enough to need renovating then it probably contains asbestos. It really is dangerous stuff even for the DIY'er so if in ANY doubt then get a PROFESSIONAL to check it. Your life and that of your children / partner is well worth spending a few $ on a proper inspection.

  3. #3

    Default Re: James Hardie Compo

    But Mr Costello indicated James Hardie did not deserve the charity status awarded to BHP Billiton and CSR, which had "recognised their liabilities on asbestos issues and paid".

    JHX is responsible for paying taxes.
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  4. #4

    Default Re: James Hardie Compo

    Wasn't taxation treatment the issue that delayed the final settlement for months? Looks to me as though the JHX taxation advisers have earned their extravagant fees. Also as though JHX should be obliged to pay a whole more compensation; enough to provide adequate compensation from the after-tax capital and earnings of the compensation fund.

    I reckon the JHX stench is as bad as the tobacco companies. They're disgusting.

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