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  #41  
Old 04-24-2012, 03:29 PM
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cindyb cindyb is offline
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This part just blows me away.

Quote:
Excluding a one-time pretax charge of $50 million for claims related to its weed killer Imprelis, DuPont says it earned $1.61 a share for the quarter.

Analysts, who typically exclude one-time charges, expected $1.55 per share, according to a poll by FactSet.

Federal environmental regulators ordered DuPont to halt sales of Imprelis last year because of reports of damage to trees, particularly evergreens, which resulted in several lawsuits against the company. DuPont said Thursday that it has charged a total of $225 million for Imprelis claims as of March 31, and that it believes total charges could range as high as $575 million. The company intends to seek recovery from insurance carriers for costs exceeding $100 million.
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  #42  
Old 04-25-2012, 03:27 PM
bailter bailter is offline
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It's all about the bottom line. Doesn't matter what you do as long as you can still make a profit (here's where the insurance kicks in), and the investors (stock price) still likes the company. And investors usually just see the bottom line profits vs. expected profits.

Just finished videoing the damage again. But it's little too sunny today and will wait for a cloudier day to do it again. I have taken pictures and videos one month after application, 3 months after application, and am doing so again almost 12 months after application. I'm sure if I ever get the proposal I will have to reject it as many of the 1 and 2 rankings are now more like 3 and even 4. Need to keep it documented in case we have to go the lawsuit route (I hope not)
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  #43  
Old 04-26-2012, 02:02 PM
cleanponds cleanponds is offline
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Planted into Imprelis soil last November with 9 10ft Dawn Redwood trees. Used the current planting guidelines with one ft overdig, new backfill and sprayed rootball and hole with activated charcoal. Today I see every tree has dying and twisted foliage.The soil that was from the dig is piled up and only grows quackgrass and canada thistle.I believe the reason overdigging wont work is because the hole still presents a path of lessor resistance for ground or subsurface water to go to which has Imprelis in it. Have contacted Dupont whom I really believe plans on doing little to nothing. Made another contact to Ohio Dept of Ag. Ive stopped all planting for the forseeable future on our 10 acre home/business site.
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  #44  
Old 04-26-2012, 04:50 PM
Starbuy Starbuy is offline
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Originally Posted by cleanponds View Post
Planted into Imprelis soil last November with 9 10ft Dawn Redwood trees. Used the current planting guidelines with one ft overdig, new backfill and sprayed rootball and hole with activated charcoal. Today I see every tree has dying and twisted foliage.The soil that was from the dig is piled up and only grows quackgrass and canada thistle.I believe the reason overdigging wont work is because the hole still presents a path of lessor resistance for ground or subsurface water to go to which has Imprelis in it. Have contacted Dupont whom I really believe plans on doing little to nothing. Made another contact to Ohio Dept of Ag. Ive stopped all planting for the forseeable future on our 10 acre home/business site.
This is what I'm hearing more about and it is alarming! No wonder Dupont rep suggested to me to just grind the stumps and leave it. Unbelievable. They know they've got serious enviromental catastrophe on their hands. BTW, the insurance they can claim will only cover a max of $75 to $100 mil. Their own estimates are growing daily the longer this goes on and is in the range of $600 mil to $2 Billion in damages. If they lowball more of us in their process and more leave to go the court route Dupont stockholders will be footing a much bigger chunk. You notice in their earnings report they report ER and exclude Imprelis damage as a seperate item.

If we can never plant actual trees in these places our privacy is impacted, not just the look of our landscape. This is going to be costly for them. So sad. They are reviewing counter offers. They do realize tree damage can worsen from the last site visit and you can reject the first offer and send them the updated damage for another review. Time consuming, but add that also to your figures for proper compensation. They know if it goes to court the figure you have will at the very least triples when it goes to trial. I'm still willing to go the cheaper route for them if the offer is reasonable. We'll see.
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  #45  
Old 04-27-2012, 12:29 AM
jconley jconley is offline
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I am still waiting to hear anything from Dupont. The only contact I have had is the letters they sent me at the end of last year. I called their info number and was told my claim was in review. My yard looks like a toxic waste site with over 20 dead 15-20 ft trees. I would have thought they would have been much more proactive if they hoped to settle out of court. I worry now about the fire hazard these dead trees present.
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  #46  
Old 04-27-2012, 11:13 AM
bailter bailter is offline
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Does anyone know what is involved in rejecting a Dupont proposal? Such as how long dupont will have to reply to your rejection. I know my trees have SIGNIFICANTLY declined since they were rated last fall, but after waiting this long, I don't want to wait that long again. Is there anything in the proposal (for those of you lucky enough to have gotten one) that outlines what is required of both you and dupont for a rejection and new proposal? Any experience from anyone?
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  #47  
Old 04-27-2012, 02:21 PM
Starbuy Starbuy is offline
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Originally Posted by jconley View Post
I am still waiting to hear anything from Dupont. The only contact I have had is the letters they sent me at the end of last year. I called their info number and was told my claim was in review. My yard looks like a toxic waste site with over 20 dead 15-20 ft trees. I would have thought they would have been much more proactive if they hoped to settle out of court. I worry now about the fire hazard these dead trees present.
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Oceola Township in Michigan received their Dupont offer for $92,000 for 9 trees. The board is still determining if they will accept the offer or counter it. http://www.livingstondaily.com/artic...sey=nav%7Chead

So, your 20 should certainly see a larger first offer. They seem to be going by size more than type, since a large variety of evergreens are close to the same price from nurseries per foot. I'm hearing initial offers of between $3000 to over $10,000 per tree (includes replacement and warranty for only until 2013). According to Oceola that offer was in addition to removal cost, which was not specified in the report. Offers obviously can be much larger if the ground slopes into the damaged trees since removing just the soil around the dead tree may not be enough since the adjacent ground can still have Imprelis in it for over a year and can migrate into the slope. I've been warned it may be years before I can replant.
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  #48  
Old 04-27-2012, 06:04 PM
jconley jconley is offline
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I will just feel better once I have entered into some type of negotiations with them, though I wonder as bailter brings up; is this whole process going to be a drug out affair or once it's your turn will you be able to actually deal with a person who can make a deal.
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  #49  
Old 04-27-2012, 06:14 PM
jconley jconley is offline
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I don't think Dupont is handling this very well at all, a homeowner, as in my case, who would hire a lawn service to take care of their yard, with the added expense that entails, probably cares a great deal how their yard/home looks. I know it grates me every time I pull in the driveway and the longer it drags out, the madder I get.
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  #50  
Old 04-27-2012, 06:48 PM
bailter bailter is offline
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I definitely agree with your feelings. Looking at all these dead and dying trees that happened through no fault of my own, and to have the guilty party just drag out the restitution forever..............and we don't seem to be able to do anything about it. The lawn service says be patient (I have been for almost a year), and Dupont says "we're so sorry about that" or "I can certainly understand that" (their call center must sit with a list of stock answers for any comment made by the caller). And then everything I hear is the proposal will be way to low, and we may not be even able to replant without killing the new trees. Maybe we need more TV interviews as that seems to be the only thing that Dupont is concerned with.
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