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IMO, corporate punishments should work like that: steal a little from someone? Lose 90 days of profit. Steal a lot? Lose a couple years of profits. Kill someone? Lose 20 years of profits
Jailing CEOs works better only because money is easy to manipulate. Loosing 20 years of profit just means bankruptcy. Make a new name new company buys all assets of bankrupt at fault company and nothing but the name changes. I'm with the idea that if companies have personhood than the person in charge is responsible for harm that personhood does.
I wonder if having to face consequences for their actions would change how CEOs behave 🤔
The CEO would just be a fall guy, and the decision-making would go to someone else.
I mean given the depths they'll go through to dodge taxes I think they absolutely would change behavior.
No. That's not what that means. Profit by definition is the excess revenue that isn't required to run the business.
Cool, so just do stock buy backs to eat the profits while rewarding the executive suite
So again. Profit is the excess revenue (this time in bold and italicized) that isn't needed to run the business. Believe it or not stock buy backs aren't required to run a business. Weird huh?
Compensating your employees is an expense needed to run the business. Those buybacks is just the cost of doing business.
They tried that when McDonald's served coffee that gave an old woman 3rd degree burns on her genitals.
A single days profits from coffee.
McDonald's fought that in court, and spent many thousands of dollars on a PR campaign to vilify the woman they burned.
Jail or volcano sacrifice. I'm sick of rich fucks being above the law and fines are just an expected, calculated, and bet against expense to a big business.