Rain Industries: Bad news keeps pouring

Hat Tip : Zafar

Eden Prairie, Minnetonka and five other cities have filed lawsuits against seven refiners of coal tar for allegedly contaminating numerous storm water ponds with pollutant and potentially carcinogenic chemicals.

The cities claim seven companies — Koppers Inc., Ruetgers Canada Inc., Rain Carbon Holdings, Rain Carbon LLC, Stella-Jones Corp., Coppers Creek Chemical Corporation and Lone Star Specialty Products LLC — knew their pavement-sealant products would significantly contaminate their environments and continued to sell them as safe products.

The suits target the cost of disposing of this waste, which is necessary to protect public health from exposure to PAHs during dredging operations, the complaints say, arguing that “the polluter should pay for the increased costs of these additional disposal requirements, not the taxpayers.” A statement released along with the complaints estimates the cost of cleanup will run into the hundreds of millions of dollars at minimum.

-From SW News Media

Surprisingly, such a material event was NOT disclosed to the Stock Exchanges.

This Means War

“As evidenced by this investigation, the threats we face have never been more pervasive or more potentially damaging to our national security. And no country poses a broader, more severe, and long-term threat to our nation’s economy and cyber infrastructure than China.

China’s goal, simply put, is to replace the U.S. as the world’s leading superpower—and they’re breaking the law to get there. They’re using an expanding set of non-traditional and illegal methods. And Chinese state-sponsored actors are the most active perpetrators of economic espionage against us.

In short, they seek to strengthen themselves and weaken the United States. And while we welcome fair competition, we cannot and will not tolerate illegal hacking, stealing, and cheating.

This is conduct that hurts American businesses, American jobs, and American consumers. The Chinese government’s not pulling any punches. They want what we have so they can get the upper hand on us. And they’re highly strategic in their approach—they’re playing the long game.”

FBI Director’s Christopher Wray’s Remarks