- Harbor Freight Tools plans to move ahead with Cape Girardeau store (12/5/17)2
- Feds ask judge to impose $6.5 million punishment for Cape surgeon (12/7/17)9
- Business Notebook: Yule Log Cabin gets home feel honestly (12/4/17)
- Former Wimpy's Drive-In owner Freeman Lewis dies (12/9/17)2
- Makeover at the movies: Transformation complete inside Cape theater (12/8/17)4
- Sugarfire Cape barbecue restaurant to open June 2018 (12/7/17)
- Rep. Lichtenegger proposes change to term limits (12/4/17)7
- Fire displaces family of seven (12/5/17)1
- Buffalo Wild Wings moving to new location in March (12/2/17)2
- Fruitland Army veteran spends weeks helping in ravaged Puerto Rico (12/5/17)2
Asbestos bill has dire consequences
To the editor:
The U.S. Senate is set to debate a far-reaching piece of legislation that will have a dampening effect on hundred of businesses across our state. I refer to the pending Specter-Leahy bill (Senate Bill 852) that would force businesses to pay into an asbestos trust fund. Unfortunately, this business penalty is not tied to its percentage of liability.
Based upon prior asbestos expenditures, many businesses may find their obligation to be $16 million a year for 30 years. I am concerned that a number of smaller companies who rely on insurance to defend their claim may not be aware of this bill's dire and unintended consequences. Many businesses simply will be unable to make these kinds of payments and will seek bankruptcy. I am urging our senators to defeat the Specter-Leahy bill. Go back to the drawing board and find a solution that is fair, equitable and based upon sound business practices.
PHILLIP A. ORSCHELN, Kansas City, Mo.