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IBM Cancer Case: Lawyers Find 'Corporate Mortality File'
Aired September 24, 2003 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: Time now for some business buzz. A well known computer company is in the hot spot as lawyers have found evidence that it knew its working conditions caused higher rates of cancer for its workers.
Let's get more on that story from Carrie Lee. She joins us from the Nasdaq market site in New York.
Carrie, what is this about?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Very interesting story, Carol. A group of lawyers representing former IBM employees is suing the computer giant for knowingly exposing its workers to cancer causing chemicals. Now these lawyers just got their hands on IBM's corporate mortality file, which tracked the deaths of 30,000 of its employees from 1969 to 2000. This according to the San Jose "Mercury News."
So what does this mean for the plaintiffs? Well, this could be very strong evidence in proving that Big Blue knew its workers suffered higher rates of cancer because of chemicals involved in the computer chipmaking process. A Boston University doctor reviewed the file and found IBM workers died of certain kinds of cancers at a younger age and a higher rate than the general population.
Now an IBM spokesperson told The Associated Press no conclusions about cancer rates could be drawn from that file. He says they kept this file just to keep track of benefits and any medical expenses that were paid to the workers.
How did this evidence fall into the plaintiff's hands? Well, the lawyers on the case reportedly say that it was mistakenly marked -- not marked confidential and handed right over. So we'll find out a little bit more. The first court hearing in the -- in this Silicon Valley case starts on Friday. They are going to try to dismiss the case, but a very interesting case nonetheless -- Carol.
LIN: I know, we'll all be watching it.
Carrie, in the meantime, let's take a look at the business of the day. How are the futures shaping up?
LEE: Pretty nicely. Do look like -- it does look like we could see a little bit of a higher open after very nice gains yesterday late in the day. The Dow up about one half of a percent. The Nasdaq gaining about 1.5 percent. Darden Restaurants is going to be a stock to watch, reporting profits for the recent quarter after the close. Perhaps not a household name, but this is the chain that owns Red Lobster and Olive Garden restaurants, so certainly a lot of people have heard of those names.
LIN: You bet. All right. Thanks so much, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired September 24, 2003 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: Time now for some business buzz. A well known computer company is in the hot spot as lawyers have found evidence that it knew its working conditions caused higher rates of cancer for its workers.
Let's get more on that story from Carrie Lee. She joins us from the Nasdaq market site in New York.
Carrie, what is this about?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Very interesting story, Carol. A group of lawyers representing former IBM employees is suing the computer giant for knowingly exposing its workers to cancer causing chemicals. Now these lawyers just got their hands on IBM's corporate mortality file, which tracked the deaths of 30,000 of its employees from 1969 to 2000. This according to the San Jose "Mercury News."
So what does this mean for the plaintiffs? Well, this could be very strong evidence in proving that Big Blue knew its workers suffered higher rates of cancer because of chemicals involved in the computer chipmaking process. A Boston University doctor reviewed the file and found IBM workers died of certain kinds of cancers at a younger age and a higher rate than the general population.
Now an IBM spokesperson told The Associated Press no conclusions about cancer rates could be drawn from that file. He says they kept this file just to keep track of benefits and any medical expenses that were paid to the workers.
How did this evidence fall into the plaintiff's hands? Well, the lawyers on the case reportedly say that it was mistakenly marked -- not marked confidential and handed right over. So we'll find out a little bit more. The first court hearing in the -- in this Silicon Valley case starts on Friday. They are going to try to dismiss the case, but a very interesting case nonetheless -- Carol.
LIN: I know, we'll all be watching it.
Carrie, in the meantime, let's take a look at the business of the day. How are the futures shaping up?
LEE: Pretty nicely. Do look like -- it does look like we could see a little bit of a higher open after very nice gains yesterday late in the day. The Dow up about one half of a percent. The Nasdaq gaining about 1.5 percent. Darden Restaurants is going to be a stock to watch, reporting profits for the recent quarter after the close. Perhaps not a household name, but this is the chain that owns Red Lobster and Olive Garden restaurants, so certainly a lot of people have heard of those names.
LIN: You bet. All right. Thanks so much, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
