Posted on 10/16/2012 8:35:14 AM PDT by Uncle Chip
A Missouri couple has filed for bankruptcy just eight years after winning a $20 million lawsuit against the makers of a butter popcorn flavoring that gave one of them lung disease.
Eric Peoples of Carthage and his wife, Cassandra, sued International Flavors and Fragrances Inc. and Bush Boake Allen Inc. in 2004 after Mr Peoples developed bronchiolitis obliterans while working at a popcorn plant in Jasper.
But just eight years later, the two are being forced to sell the home they built for $3.9 million to pay off creditors, after their financial situation went spectacularly downhill.
According to the Joplin Globe, the Peoples listed the current value of their residence and 10.5 acres of land at just $700,000 and personal property assets of nearly $33,000.
But their liabilities are listed at more than $611,000, including a $482,876 mortgage with U.S. Bank. The couple's case against the butter flavouring companies was the first of several brought by workers and their spouses.
The suit claimed Mr Peoples, who has two children with his wife, developed the lung disease after being exposed to diacetyl, a chemical present in the flavouring to give a buttery taste and aroma.
Researchers have found that, when heated, the chemical produces a toxic, potentially lethal gas, and can leave those exposed with a shortness of breath, a dry cough and wheezing.
At the trial, doctors testified that Eric Peoples would eventually need a double-lung transplant.
(Excerpt) Read more at dailymail.co.uk ...
Most people in this country have the same opportunity to get rich as anyone else.
Matthew 26:11
For ye have the poor always with you; but me ye have not always.
If you look over time that is very true - It is MUCH harder to get rich today than it was 40 years ago with the exponential growth of government regulations and taxes (you have a greedy partner when you’re making money but he vanishes when you’re not), but if you look at a given time period - today - then everyone who is not rich today has about the same shot at it as everyone else today.
everyone who is not rich today has about the same shot at it as everyone else today.
Just being realistic.
I think we're saying the same thing.
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