Foreign Business Execs on U.S. Liability

The Hill has a piece about foreign executives seeking changes to the U.S. liability system:

Threats of class-action lawsuits constitute a serious disincentive to conducting business in the U.S., according to several top executives of foreign companies invested in the U.S. who are lobbying members of Congress this week.

“Litigation is a major business expense in comparison to Europe,” said Gary Elliot, chairman and chief executive of ThyssenKrupp USA, a German steelmaker that last week announced it was spending $3.7 billion to build a plant in Alabama.

(Guess it’s not so much of an expense that they won’t open a plant in Alabama, a point the article notes later too…)