MMM looks favorably valued currently based on dividend yield, price to cash flow, price to free cash flow, etc. It has been a very stable earner for many many years. Does anyone have a bear thesis that they can share for MMM over the next 5 years?
X Post for you, web436:
https://discussion.fool.com/bbg-mmm-forever-chemicals-come-to-euâŚ
Bloomberg Headline: 3Mâs âForever Chemicalsâ Crisis Has Come to Europe
Subheadline: The fight over a tunnel project in Antwerp has revealed extraordinary levels of toxins in the water, soil, and people near the companyâs factory. This time there could be criminal charges.
Bloomberg Headline: 3Mâs âForever Chemicalsâ Crisis Has Come to Europe
Itâs always nice to see what the company has to say.
Sometimes valid points, sometimes for entertainment value. Sometimes to make your Cheerios come out your nose.
I have no comment on any of their content. Iâm unqualified.
Have a gander:
https://www.3m.com/3M/en_US/pfas-stewardship-us/
If one can paraphrase an entire section of a website, it sort of boils down to:
-
these wonderfully useful chemicals donât break down easily and do bioaccumulate
-
weâve been phasing them out since 2000-2002 in all sorts of earnest sounding and photogenic ways
"Informed by this evolving knowledge, 3M made the decision to stop manufacturing and using PFOS and PFOA.
We announced the phase-out of those compounds in 2000 and have long since completely phased both materials out of our operationsâŚ"
âŚyet⌠-
"PFAS remain necessary components of many modern-day products. Today, 3M manufactures âshort-
chainâ PFAS compounds incorporating 3- and 4-carbon perfluorinated molecules, as well as fluoropolymers.
These compounds are used by a broad range of customers and industries worldwide. " -
Snippet quotes from sundry studies and government policy conclusions:
âthere is mostly limited or no evidence for any link with human diseaseâ
âthere is no current evidence that supports a large impact on an individualâs health.â
âthere is no current evidence that suggests an increase in overall cancer risk.â
âThe available human studies have identified some potential targets of toxicity; however, cause and effect relationships have not been established for any of the effects, and the effects have not been consistently found in all studies.â
âCausality between a PFAS-chemical and a specific health outcome in humans has not been established in the current scientific literature.â
Jim
Also, this story recently broke:
More than 100,000 U.S. military veterans have filed lawsuits against Minnesota-based 3M over hearing damage linked to what they claim are defects in the companyâs military-grade earplugs. The company faces billions of dollars in potential costs from legal settlements or trials after soldiers alleged they returned from war with hearing damage due to the earplugs . . . .
https://www.wsj.com/articles/3m-faces-potentially-billions-iâŚ
Wot
p.s. And thank-you for smoking, Jim.
p.s. And thank-you for smoking, Jim
Love that movie!
Worth it just for the scene with Rob Lowe.
Jim
I read the safety data sheet for two concrete / paver sealer products Iâm using to âprotectâ my stamped concrete patio.
Both products list Propylene Glycol or Dipropylene Glycol N-Butyl as their main active ingredient on the safety data sheets - but not on the label on the can! âSkin irritantâ, âflush with waterâ, etc. Conveniently, somehow, they clean up with water even though they act as UV and dirt/surface repellents.
Safety sheet, like that MMM article basically reads,
âno known impactsââŚ
âno known long-term impactsââŚ
âunknown effectsâ
âdonât use in an unventilated areaââŚ
âdonât let it get into a watershedâ
which interprets as:
âthe FDA hasnât studied these products to verify whether or not they will kill you if you drink them or cause some form of cancer down the road, and that would have been wicked expensive so weâre good to sell this stuff! Go for it!â
On the can label, though, they couldnât even be bothered to mention state hazards posted on websites such as:
â? Propylene Glycol can cause nausea and vomiting. ? Exposure can cause headache, dizziness, lightheadedness, and passing out.â
Corporate Freedom is great!
FC
which interprets as:
âthe FDA hasnât studied these products to verify whether or not they will kill you if you drink them or cause some form of cancer down the road, and that would have been wicked expensive so weâre good to sell this stuff! Go for it!â
On the can label, though, they couldnât even be bothered to mention state hazards posted on websites such as:
â? Propylene Glycol can cause nausea and vomiting. ? Exposure can cause headache, dizziness, lightheadedness, and passing out.â
Corporate Freedom is great! â FC
Easy does it!
Propylene glycol is used as the prep for colonoscopies. It causes no ill effects⌠beyond that which is intended as a prep. So⌠what about the âhazardsâ mentioned? Almost anything ingested can cause ill effects if taken in excess, including water.
Rob
Former RB and BL Home Fool, Supernova Portfolio Contributor & Maintenance Fool
He is no fool who gives what he cannot keep to gain what he cannot lose.
Propylene glycol is used as the prep for colonoscopies.
Well, whaddaya know about that? Thanks for the education⌠so I stand at ease. And they donât list anything else on the SDS because itâs a trade secret.