Asbestos litigation reform takes shape when senator introduces legislation. (On The Hill II).

Asbestos & Lead Abatement Report, February, 2003

Asbestos litigation reform took a step toward becoming reality Feb. 14 when Sen. Don Nickles (R-Okla.), chairman of the Budget Committee, introduced a bill to do just that, two weeks after a manufacturing executive informed his panel such litigation is a burden on the U.S. economy.

"Out of control asbestos litigation is an anchor weighing down the business community, particularly the manufacturing sector, and slowing down our overall economic recovery," said Michael Baroody, executive vice president of the National Association of Manufacturers and the chairman of the Asbestos Alliance Steering Committee.

About 8,400 firms have been names as defendants in asbestos cases, and 67 businesses have filed for bankruptcy, Baroody testified before the committee Jan....