Todd Shipyards was a corporation founded with the capitals of William H. Todd and two other financing partners. It was in fact the union of 3 already existing shipbuilding companies, which went on to form a shipbuilding giant.
Todd had started out as a boilermaker at one of the joining companies, and, in his own version of the American dream, he ended up becoming the president. Todd was responsible for the expansion and the merging that would later make up the Todd company. When Todd was done securing new partners and buying out interesting industry players, the Todd corporation owned shipyards all over America, and even in London.
The company was extremely successful, but this didn´t mean that it wasn´t affected by the industry´s ups and downs. Times of war were always times of plenty, awakening Todd´s thirst for the incorporation of new shipyards. During its golden years, Todd Corporation would even publish their own magazines, one of which (the Keel) lasted almost thirty years. Todd liked to instill a sense of family in his business, running extensive bonding and celebratory activities at the heart of his company.
When Todd died in ´32, the business was strong, but it was financially faltering due to the crashing of the stock market. Todd Corporation was able to outlive the Depression thanks to the dramatically increased demand of World War II. In fact, between ´41 and ´45, the company´s five shipyards worked on over 23,000 ships.
John D. Reilly was the company president after Todd´s demise. Under his direction, the company continued growing. Later on, in the ´50s, when warships were no longer at play, the company looked into conversions and repair as sources of revenue. While the business continued to stay active over the next decade, it went through a very rough patch in ´75, due to bad return on investment and the general economic situation. In the ´80s, Todd Shipyards still run a total of 7 yards and grossed eight hundred million dollars per year, but in 1986 it went bankrupt and was shut down.
People who worked at Todd shipyards were commonly exposed to asbestos. Asbestos is made of very small fibers which stick to the inside of the lungs when inhaled. This causes three serious diseases: mesothelioma, lung cancer, and asbestosis. All of them can be fatal. Unfortunately the risk was not only for workers, as volatile asbestos fibers can be carried home, thus exposing family members.
Any level of exposure to dangerous asbestos can cause irreparable damage to your health. If you were ever employed at Todd shipyards or any other similar facility, you should consult your physician, as symptoms can take many decades to appear. You may also be entitled to substantial compensation from employers who might have put your life at risk. You can contact the Weitz & Luxenberg Asbestos Lawyers for a complimentary assessment,and to evaluate the possibility of filing a claim.