Word: monsanto
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Dates: during 1980-1989
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Judge Jack Weinstein hammered out the settlement at federal district court in Brooklyn, N.Y., shortly before dawn of the day that jury selection was scheduled to begin. The seven corporate defendants-Dow Chemical, Monsanto, Uniroyal. Diamond Shamrock, Hercules, T.H. Agriculture and Nutrition and the now defunct Thompson Chemical-denied any liability for the veterans' illnesses: their position was that Agent Orange had not caused the health problems and that they had merely manufactured the defoliant according to the military's instructions. Nonetheless, the companies agreed to place $180 million into a fund that will be used to compensate...
...gave you wrong information, which led to an inaccuracy in the story "The Billion-Dollar Boys" [Jan. 9]. I told your reporter that the Monsanto pension fund had terminated Alliance Capital as an investment manager after only a very short period of poor investment performance. That is not true. Rather, we managed funds of Monsanto from 1968 to 1973 and created a poor longer-term record of investment results. I wish this were not so, but I am afraid...
...emphasis on performance has made the pension business intensely competitive. Says Dave Williams, chairman of Alliance: "We're hired, fired and retained on the basis of our investment results." He admits that his company once lost Monsanto as a client after managing its pension fund for only six months. The industry's mortality rate is high. Though hundreds of new investment advisers set up shop every year, the total number of competitors dipped slightly, from 6,041 to 5,760 during 1982. Predicts Citibank's Vermilye: "Over half of these new firms will not be around...
Besides Dow, which was the Government's main supplier, the defendants in the Agent Orange case include the Monsanto Co. of St. Louis, the Diamond Shamrock Corp. of Dallas, Uniroyal Inc. of Middlebury, Conn., and T.H. Agriculture and Nutrition Co. Inc. of Kansas City. The case, now in pretrial hearings, is not expected to go before a jury until next year. "It's been all cloak and dagger," says ex-Navyman Sutton, "but I think the truth is finally coming out." No doubt, but some truths may continue to prove elusive: while scientific studies have shown that dioxin...
...first hint of the now-booming industrial interest in the biotechnology field came in 1974. When Monsanto agreed to give the Medical School $23 million over 12 years in exchange for exclusive licensing rights to any product developed under its funds...