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Stallion

(6,476 posts) Sun Mar 1, 2015, 08:40 PM Mar 2015

60 Minutes Actually Interesting Tonite

2 stories-one attacking Insurance companies for intentional changing the recommendations of their engineering inspectors after Hurricane Sandy and Lumber Liquidators intentional selling Chinese flooring falsely labeled as meeting industry standards for formaldehyde. I started laughing when in both stories, the companies blamed lawyers for their intentional fraud when it was the lawyers who helped expose the fraud. Sell your Lumber Liquidator stock

6 replies

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60 Minutes Actually Interesting Tonite (Original Post) Stallion Mar 2015 OP

Recommend Wella Mar 2015 #1

Thx for the info. Chipper Chat Mar 2015 #2

Back to its glory days when it really uncovered fraud (nt) question everything Mar 2015 #3

YES IT WAS! I hope that expose' gets the execs of that insurance company napi21 Mar 2015 #4

Yes, I was surprised they actually did some old fashioned journalism. progressoid Mar 2015 #5

Lumber Liquidators fires back after 25% drop question everything Mar 2015 #6

Wella

(1,827 posts)

1. Recommend

Reply to Stallion (Original post)

Sun Mar 1, 2015, 08:41 PM

Mar 2015

Thanks for posting this.

Chipper Chat

(9,692 posts)

2. Thx for the info.

Reply to Stallion (Original post)

Sun Mar 1, 2015, 08:42 PM

Mar 2015

I can't pull myself away from 'Fiddler On the Roof' on TCM.

question everything

(47,535 posts)

3. Back to its glory days when it really uncovered fraud (nt)

Reply to Stallion (Original post)

Sun Mar 1, 2015, 09:10 PM

Mar 2015

napi21

(45,806 posts)

4. YES IT WAS! I hope that expose' gets the execs of that insurance company

Reply to Stallion (Original post)

Sun Mar 1, 2015, 11:50 PM

Mar 2015

into a nice hot trial, bankrupts the damn company, and trots those criminals off to a nice LONG vacation in FEDERAL PRISON! As I see it, it shoud be a Federal Case because there were Federal funds involved in Sandy.

progressoid

(49,999 posts)

5. Yes, I was surprised they actually did some old fashioned journalism.

Reply to Stallion (Original post)

Mon Mar 2, 2015, 01:35 AM

Mar 2015

question everything

(47,535 posts)

6. Lumber Liquidators fires back after 25% drop

Reply to Stallion (Original post)

Mon Mar 2, 2015, 05:36 PM

Mar 2015

Lumber Liquidators lashed out at its critics on Monday after the company's stock lost a quarter of its value. That move followed a CBS report that the company sold flooring with higher levels of formaldehyde than permitted under California's health and safety standards.

The stock fell more than 25 percent in Monday's trading after being halted from the opening bell until about 11:15 a.m. EST. A "60 Minutes" segment on Sunday said it tested Lumber Liquidators' flooring in Virginia, Florida, Texas, Illinois and New York for levels of formaldehyde, a cancer-causing chemical.

"Out of the 31 samples of Chinese-made laminate flooring, only one was compliant with formaldehyde emissions standards. Some were more than 13x over the California limit," according to CBS.

http://www.cnbc.com/id/102466810#.

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