Sunday, October 30, 2016

Woman Awarded $70 Million in Suit Claiming Baby Powder Caused Her Cancer - TIME

Posted: 28 Oct 2016 07:26 AM PDT

A St. Louis jury on Thursday awarded a California woman more than $70 million in her lawsuit alleging that years of using Johnson & Johnson’s baby powder caused her cancer, the latest case raising concerns about the health ramifications of extended talcum powder use.
The jury ruling ended the trial that began Sept. 26 in the case brought by Deborah Giannecchini of Modesto, California. She was diagnosed with ovarian cancer in 2012. The suit accused Johnson & Johnson of “negligent conduct” in making and marketing its baby powder.
“We are pleased the jury did the right thing. They once again reaffirmed the need for Johnson & Johnson to warn the public of the ovarian cancer risk associated with its product,” Jim Onder, an attorney for the plaintiff, told The Associated Press.

“We deeply sympathize with the women and families impacted by ovarian cancer,” Carol Goodrich, a spokeswoman with Johnson & Johnson, said in a statement. “We will appeal today’s verdict because we are guided by the science, which supports the safety of Johnson’s Baby Powder.”
Earlier this year, two other lawsuits in St. Louis ended in jury verdicts worth a combined $127 million. But two others in New Jersey were thrown out by a judge who said there wasn’t reliable evidence that talc leads to ovarian cancer, an often fatal but relatively rare form of cancer. Ovarian cancer accounts for about 22,000 of the 1.7 million new cases of cancer expected to be diagnosed in the U.S. this year.
About 2,000 women have filed similar suits, and lawyers are reviewing thousands of other potential cases, most generated by ads touting the two big verdicts out of St. Louis — a $72 million award in February to relatives of an Alabama woman who died of ovarian cancer, and a $55 million award in May to a South Dakota survivor of the disease.
Much research has found no link or a weak one between ovarian cancer and using baby powder for feminine hygiene, and most major health groups have declared talc harmless. Johnson & Johnson, whose baby powder dominates the market, maintains it’s perfectly safe.
But Onder of the Onder Law Firm in suburban St. Louis, which represented plaintiffs in all three St. Louis cases, cited other research that began connecting talcum powder to ovarian cancer in the 1970s. He said case studies have indicated that women who regularly use talc on their genital area face up to a 40 percent higher risk of developing ovarian cancer.
Onder has accused Johnson & Johnson of marketing toward overweight women, blacks and Hispanics — the very same women most at-risk for ovarian cancer, he said.
Factors known to increase a women’s risk of ovarian cancer include age, obesity, use of estrogen therapy after menopause, not having any children, certain genetic mutations and personal or family history of breast or ovarian cancer.
The International Agency for Research on Cancer classifies genital use of talc as “possibly carcinogenic.” The National Toxicology Program, made up of parts of several different government agencies, has not fully reviewed talc.
Talc is a mineral that is mined from deposits around the world, including the U.S. The softest of minerals, it’s crushed into a white powder. It’s been widely used in cosmetics and other personal care products to absorb moisture since at least 1894, when Johnson & Johnson’s Baby Powder was launched. But it’s mainly used in a variety of other products, including paint and plastics.
The two St. Louis verdicts were the first talcum powder cases in which money was awarded. A federal jury in 2013 sided with another South Dakota woman, but it ordered no damages, a spokeswoman for Onder’s firm said.
Johnson & Johnson has been targeted before by health and consumer groups over ingredients in its products, including Johnson’s No More Tears baby shampoo. The company agreed in 2012 to eliminate 1,4-dioxane and formaldehyde, both considered probable carcinogens, from all products by 2015.

Tesla Just Did Something It Hasn’t Done in 3 Years - TIME Business


Posted: 27 Oct 2016 06:05 AM PDT

Depending on who you ask, Tesla is either on its way to becoming a huge force in the auto industry, or it’s a financial disaster waiting to happen. The electric automaker just made a strong case that, for now, the momentum is favoring the bulls.
Tesla’s earnings reports are often the occasion for volatility, and this quarter was no different. Even so, the company caught Wall Street by surprise, selling more vehicles than expected and posting its first profit in three years. Buttressed by the news, Tesla’s stock rose 5% in after-hours trading.



How good were the numbers? Revenue rose 145% to $2.3 billion in the quarter, with Tesla selling 24,821 vehicles, more than double the number from a year ago. That figure is close to half the 50,000 goal the company had set for the last six months of 2016. It also suggests that Tesla could meet or beat its goal of selling between 80,000 and 90,000 vehicles this year, a target that, not long ago, skeptics argued was too bold.
The strength of those sales, along with a push to cut costs, pushed Tesla to a profit of 71 cents a share. Wall Street had been expecting a loss of 54 cents a share. Many analysts had been grappling with a change in accounting Tesla made to better conform to standard accounting practices. Nonetheless, few expected a blowout quarter.
Only a few months ago, things were looking dicier for the automaker. Production problems had been plaguing the Model X, Tesla’s SUV. A fatal crash involving a Tesla in autonomous driving mode invited disparaging headlines. And the company had just made a controversial $2.6 billion bid for SolarCity, a residential solar power firm in Elon Musk’s private keiretsu.
Investors were trying to remain patient to give Musk time to deliver on his vision, but the SolarCity deal became a sore point. Musk issued a memo, leaked to Bloomberg, that said this past quarter would be Tesla’s “last chance” to show investors it could be profitable before the merger. A shareholder vote on the deal is scheduled for Nov. 17.
If Tesla workers heeded Musk’s clarion call last quarter, he nonetheless sent mixed messages on SolarCity this week. First, he said he felt “pretty good” about that firm’s ability to generate cash in the coming quarter, and perhaps next year. When an analyst described SolarCity as a cash cow, however, Musk corrected him: “I think you could say ‘cash vacuum.’”
Right now, investors aren’t inclined to balk at such off-the-cuff Muskisms. At one point in the call, Musk reminded shareholders to take his prognostications with a grain of salt, because he tends to speculate with “my best guess, which is different from a promise.” Few CEOs would dare say this kind of thing on an earnings call. But because Tesla beat expectations on so many fronts, Musk seems to have filled up a reservoir of good will with its shareholders.
So ambitious are Tesla’s many goals, though, that even this blockbuster quarter doesn’t pull the firm out of the woods. The company is ramping up production of its Model 3, a $35,000 sedan that is one of Musk’s boldest bets yet. The project will drink up most of Tesla’s $1 billion of capital expenditures in the current quarter — more than half its $1.8 billion cap-ex budget for the entire year.
Initial demand for the Tesla 3 is high — so high that, as Musk pointed out on Wednesday’s earnings call, Tesla has done no marketing beyond a webcast announcing the car, and still enough orders have come in to justify an entire year of Tesla 3’s scheduled production.
“When somebody comes into a store to buy a Model 3, we say, ‘Why don’t you buy a Model S or X?’ So, we anti-sell the 3” Musk said. “Still, a lot of people ordered the 3. But, whatever.”
Still, an area of concern with the Model 3 is that, with its lower price, it could drag down profit margins. A Goldman Sachs analyst asked Wednesday whether economies of scale could push down production costs of the new model enough to preserve Tesla’s margins. Musk’s answer: “Model 3 efficiency as a whole is a quantum change of productivity. Really crazy.”
“I’m a little bit hazy on quantifying ‘crazy,’” the analyst replied. “Is there any rule of thumb you can point to?” Musk said that the Model 3’s production cost, roughly approximated, should be “about half” that of the Model S, an earlier and higher-priced sedan.
If Musk is right, the Tesla bears may have an even rougher year ahead. Tesla has moved beyond the bad press it weathered a few months ago, so much so that the company is pushing ahead on it controversial Autopilot technology, which Musk believes will make its cars even safer. “At some point, it will be morally wrong not to allow autonomous driving,” he said.
When that time comes, Tesla will be positioned to play in the car-sharing market pioneered by Uber. Tesla cars are gathering more data on vehicles, in all kinds of weather conditions, than any company. It’s a data trove that Uber’s self-driving experiment in Pittsburgh can only dream of.
If you think that Musk isn’t taking the potential of the car-sharing market seriously, here are his thoughts when he was asked about Uber on the earnings call. “Sometimes it’s been characterized as Tesla vs. Uber,” he said. “It’s not Tesla vs. Uber. It’s the people vs. Uber.”
There you have it. Elon Musk believes he’s on the side of the people. And for now, the market is on the side of Tesla. As always, however, there remains the risk that all of this may be more prognostication than promise.

Here’s Why Fitness Fans Will Love the Apple Watch Nike+ - Fortune


Posted: 28 Oct 2016 08:07 AM PDT

I’ve been running with Nike for about a decade—and I’m not talking about wearing their shoes or shirts.
This review is about the Beaverton, Ore.-based company’s gadgets, a world I’ve personally been immersed in for nearly a decade. Back in 2006, Nike first partnered with electronics giant Apple to sell the co-branded Nike+ iPod Sport Kit, which was a wireless system that provided connectivity between a sensor that could be inserted in footwear and Apple’s pre-iPhone devices. Nike later struck out on its own for a few years starting in early 2012, selling activity trackers under the FuelBand brand, a business Nike scrapped in 2014.

Today, Nike and Apple are officially running partners again. Friday marks the official release of the Apple Watch Nike+, a sports-focused smartwatch with a starting retail price of $369.
Unlike most fitness-based systems on the market today, this device has the ability to track numerous movements: running, biking, yoga, class-based fitness sessions, weights, or a rowing machine. A built-in GPS allows runners to track their workouts without carrying their smartphone—the initial Apple Watch required you to bring along your iPhone for those runs to “count.”
Apple aimed to address three of the most-requested features they heard from folks after releasing the original Apple Watch last year. Users wanted the smartwatch to track runs without a phone, they wanted it to be waterproof, and they wanted a brighter display.
All three upgrades are in the new device. Apple Watch Nike+ also added “activity rings,” separately monitoring moving, exercise, and standing. Moving is just general everyday movement, while exercise would track strenuous activities or even a brisk walk. The stand ring encourages movement at least once per hour each day. And you can’t just stand for 12 minutes a day—you need to stand 12 different times throughout the day for credit.
For serious runners like myself, there’s also encouragement in the running app to get back outside for a workout. That could come from a prompt to go out “Just Do It Sundays,” a weekly call to go out and run a 5K (3.1 miles). Or perhaps a notification that Rachel King, an editor here at Fortune and fellow runner, is just 2.1 miles ahead of me for the month.
“We wanted to focus on running and create the best partner for you if you are picking up running,” Stefan Olander, vice president of Global Digital Innovation at Nike, tells Fortune in an interview.
I took the device for a spin in the SoHo neighborhood in Manhattan and along the Hudson River along the west side of the island. While out with a Nike trainer, I got prompts each mile, reminding me of my overall time and pace. I also got encouragement when I breezed past the 5K goal I set for myself.
But what impresses me most about the device is that it is cross-training friendly. Millennials like myself are increasingly allured by class-based fitness like cycling or yoga Most traditional fitness trackers don’t count those movements, so it feels like you aren’t getting the complete picture of your weekly athleticism if your device isn’t counting those movements. The Apple Watch Nike+ addresses that and works in the pool too, addressing a weak spot for most activity trackers that are merely water resistant and not meant for use during a rigorous swim.
There’s also an active element to this device that seems appealing. Many trackers in the health space monitor steps, heart rate, sleep, and few additional bells and whistles. Getting text messages and Instagram notifications makes the device more alluring. That more active relationship with the device could address a common criticism that the industry has faced: findings that suggest these gadgets don’t help people lose weight.
The launch of the Apple Watch Nike+ also comes at a time when there are questions about the viability of the smartwatch market. Is it a category that can find mass appeal? Experts aren’t sold yet.
Nike itself was in the business of making fitness trackers for a few years, launching a few FuelBand devices I also tested. I must confess that while the FuelBand seemed great at the time, Apple Watch Nike+ is superior. My main concern is that I worry that it could track too much information to become a bit overwhelming for users.
As it often happens when chatting with Nike executives, the conversation turned back to running.
“Our main focus is the world’s best running experience,” he says. “We wanted it to be rooted in running and nail running first.”
That makes sense for a company that generates over $5 billion in running gear revenue annually from wholesale channels, the second-largest business segment after sportswear. For Nike to sprint ahead of the pack, it needed to evolve. Apple Watch Nike+ is a step in the right direction.
You can purchase the Apple Watch Nike+ here.
This article originally appeared on Fortune.com