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...textbook case of crisis mismanagement. Hit by hundreds of lawsuits and a federal probe into the safety of its silicone breast implants, Dow Corning spent much of the past year hunkered down in a defensive crouch -- stalling investigators, sitting on evidence and minimizing the complaints of women who said the devices caused them pain, disfigurement and serious autoimmune disorders. By the time the Food and Drug Administration called for a ban on the implants last month, Dow Corning's health and safety problem mushroomed into a public relations disaster...
...large degree, Dow made a virtue of necessity. The FDA had threatened to make the documents public anyway, and some of the most damaging information had already leaked to the press. Still, the firm's moves last week reflected a new public relations savvy, if not a heightened corporate conscience. First it stopped the hemorrhaging of bad news by putting out all the documents at once. A few hours later, it announced the bold management changes...
...reports indicated that the officials of at least one major manufacturer of silicone implants, Dow Chemical, have known about the problems associated with the implants for well over a decade...
Once we understand that small breasts are a "disease," it's easier to see why Dow Corning and others rushed so breathlessly to get their implants onto the market. Why diddle around with slow, costly tests while an epidemic is raging out there? And everyone's life is touched by the tragedy of micromastia because everyone has a friend, sister, co-worker or wife who falls pitifully short in the mammary department. In the past, small groups of health-conscious males, typically gathered at construction sites, would offer free diagnoses to women passersby, but there was little that could...
...transaction costs can even daydream of multiplying his gains by surfing around the world, taking a short, profitable ride on each cresting wave. All he needs is a globe, a pin and some strong hunches. In the '90s even distant neighbors have no trouble keeping up with the Dow Joneses...