Can’t wait to see what her testimony says. Hopefully it’s worth the lenient sentencing here because probation really doesn’t seem like adequate punishment, especially for an attorney with a professional obligation to the law.
Changetheview
joined 2 years ago
Yes, one quarter of decreased profits. Sales for the same quarter are only down 20%.
Another article says “The company still expects full-year net sales in a range between 23.2 billion euros and 24.6 billion euros, sticking to its forecast.”
I understand that it’s sometimes necessary for companies to trim the fat. But with annual net sales still on track and the company making healthy profits for many quarters running, it sure sucks for those 14,000 people that one bad quarter is being used as the reason that they’ll no longer be able to pay their bills.
https://www.cnbc.com/amp/2023/10/19/nokia-to-cut-up-to-14000-jobs-after-profit-plunges-.html
Craziest part to me is how successful some right wing groups are at convincing the poor to follow along. Those that quite literally benefit the most from the social programs are willing to vote against their own interests to support the elites.
How mind boggling is it that rednecks are literally willing to overthrow their beloved country for a NY trust fund baby and reality TV star? Then he goes and helps the rich even more and they love him for it. He pisses all over “law and order” and the military. They don’t care. Just wild.
I know a lot of their feelings come from fringe topics like immigration/sexuality, but it’s still amazing considering the economic situation they’re facing. The lack of education and critical thinking is evident.
I’m not a pro either, but I agree.
OP, is that just a 110V AC input line? It looks like it. If so, I think you could splice in just about any 110V AC switch before the connector, then just leave it connected to the device.
Most AC switches will be made for mounted wall use in the usual wall box (like what you use to turn on lights/outlets), but you can find a box that surrounds the whole switch (usually made for outdoor use). Or you can find inline feed-through switches, like this one: https://a.co/d/5X0WZol
Or you could even wire in a Bluetooth smart switch if you want to get fancy. Quick search led me to this: https://a.co/d/jkZ9pvo
Make sure the switch can handle the amps pulled. But other than that, it should be pretty simple to add a switch before the connector if that’s a 110V AC line coming in. Not much different than any other switch, just perhaps that it’s not wall mounted.
We definitely do. But a few modifications could change the corporate system in a dramatic way. If we forced companies to account for the harm they cause, that would rapidly shift behavior.
If you want to prioritize environmental behavior: Carbon-based taxes are one example, but there are plenty that can generate similar positive behavior changes. Even just basic regulations to tell them exactly what is and is not allowed. We’ve already successfully done with the EPA starting in thr 70s, we just didn’t keep up with it and instead allowed it to reverse.
If you want to prioritize income distribution: Minimum wage was once incredibly powerful. In today’s world, I envision a ratio of executive to average worker pay being crucial (along with a better minimum wage). We should also enact a progressive tax system because it is not currently behaving as one. Once again, both of these have already been done with some success and can be brought up to speed to correct what we need corrected.
Whatever the specific problem is, there’s almost always a way to enact legislation that can change the behavior. Correcting the legislative process is the first step, and even that can be done with the swipe of a pen (legislate over Citizens United and get rid of dark money influence).
I’m not saying this is all easy to do, especially with the current mess we’re in. But it is possible under this system to create a better world, despite still having tons of money and a mostly capital-driven economy.
Absolutely. Money and corruption often go hand in hand, regardless of the ruling system.
The US has previously been a great example of how socialist policies can be implemented as part of a capitalist system. World-leading programs like public education, retirement security, and healthcare in old age; even environmental protection and workers’ rights fit in here. This was when politicians actually had turnover and things like Citizens United and Super PACs weren’t a thing.
But the US is now a great example of how infection can spread and destroy even the best laid systems, leaving us with an oligarchy of nearly unfettered capitalism with constant degradation of the socialist policies. Where the money from the wealthy flows directly into our governance. And it’s utterly toxic.
It’s time to shift the power back to the masses. It’s already been done under this structure. It just needs a 21st century kick in the ass to get it up to (1) stop reversing all the incredible progress made in the 20th century and (2) get a handle 21st century issues like global tax evasion, housing markets upended by investment schemes, wealth distributed entirely through shareholder value, etc. These problems are all solvable under the current system, it just takes lawmakers who give a flying fuck.
And that’s why a progressive tax system makes sense, unless you want wealth to become concentrated.
The US’s tax rate was once truly progressive, with top marginal rates well over 70%, even reaching over 90%. And guess what happened during that time. The middle class exploded and so did the economy overall.
Now the wealthiest pay a LOWER effective rate than most taxpayers. This is a regressive system, favoring the rich and creating more inequality. Allowing for increasing concentration of wealth and a devastation of the middle class.
Money making money does not have to result in the insane concentrations of wealth we see today. People can still get rich and be rich. But effective tax policy and regulations can be used to create a society that’s better for most.
It’s fucking disgusting. Little more than a manifestation of greed mixed with sociopathic and narcissistic behavior.
The worst part is that there are people who think these deserve that money. This is all on the backs of actual workers. And from a society that they aren’t paying their fair share of.
Should these three individuals be wealthy? Sure. Should they have ever been allowed to accumulate anywhere near this much personal wealth on the backs of literally millions of other people? Fuck no.
This money should have been forcefully spread around to those workers over the course of decades. And a good chunk back to the society that made it all possible.
Instead, these sycophants hoarded more than they could ever need or even want, while keeping wages far too low and paying very little (effective rate) in taxes.
Yeah, and I have no idea where you are, but this goes far beyond the suspect cities like San Francisco. Not only are many of these workers spread out in tons of cities across the US (and world), it will also hurt wherever their funds were flowing to and the supply chains associated with them. Travel, electronics, food/dining, home furnishings, hobbies of all sorts, etc.
Another big difference is that a lot of these are “new money” people. And I’m not using that in a derogatory sense. It just means that their spending is likely to be much higher than “old money” individuals hitting the same payday.
If you’ve always had $10 million, you don’t go out and start buying shit like crazy even if you make another $2 m. But if it’s your first $2 m, you’re likely to go spend A LOT of it.
And that’s real economic growth. It’s the opposite of trickle-down economics (which just causes more hoarding of wealth and slowing of money exchanging hands).
Agreed. And even worse, empathetic people are not selected to run companies. Even if they did try to put something ahead of money, they’d get kicked out of leadership immediately.
Sounds like you’re aware of the corporate workings, but for those that aren’t: The board is entirely profit-driven representation of the investors. They select the executives who run the company.
If executives don’t do everything possible to increase shareholder value, they’ll be replaced. Period. This fiduciary duty is also quite literally the biggest and arguably the only real legal responsibility the board and executives have to uphold. (Sure, avoid criminal action is up there, but it’s forgivable if profits are good enough… and no one is ever personally accountable for white collar crime.)
This is how the machine is set up. And that’s why proper regulation is key. Companies should see profits decrease when they do actions that harm society, increase when their actions benefit society. Taxes, fines, and a regulatory framework that prohibits certain behaviors (e.g., polluting public spaces) are the tools to correct greed-focused shitty behavior. It’s the difference between developed economies with a strong middle class and a nice environment, and undeveloped ones with a handful of rich people living in a slice of luxury while everyone else suffers in disgusting conditions.
This article focuses on disclosure, which could help in two ways. (1) reduce demand from eco-conscious customers, which unfortunately has proved to be relatively ineffective so far, and (2) move specific funding away. ESG investing is the primary concern. If board members are there to represent ESG investors (a growing sector), then they might have to account for something other than profits. It’s still doesn’t really hold as much weight under the true legal responsibilities (fiduciary duty is a VERY serious duty), but it’s a start.
We really have to do more than basic disclosures and hoping for customers or ESG investing to save everything. Proper regulation is vital.
As much as I feel for the people hit hard right now, I think this is an economic indicator that‘s going to cause many downstream consequences if it continues.
On top of the downward trends by the tech titans, venture capital funding is plummeting. That’s because the VC investors can see that the likelihood of a big successful buyout is decreasing, mostly because the big fish are tightening their belts and facing higher borrowing costs (interest rates).
Many big companies have effectively outsourced R&D, waiting until a startup creates something worth buying instead. Then the VC employees either got a nice payout or employment with the big company (or both).
These often massive transactions were the source of serious economic growth. Those people had stability to spend in a way that many others wish. In the face of crappy outlooks and flat wages in tons of other fields, tech has long been the outlier making plenty of middle income people shoot up in wealth. And it did bring along others for the ride.
That growth drying up is not good for anyone. Well, unless you’re waiting on a market crash.
Witness credibility is questionable with a lot of criminal defendants that flip, so I get what you’re saying.
But it doesn’t completely negate their testimony. Many times it’s still used as the linchpin, even from sources known to lie. Good attorneys can make sure to point out the weaknesses, address it, and still make powerful arguments using the nuggets of truth hidden within.
One vital part of any court proceeding is simply the introduction of evidence and testimony. The prosecution doesn’t have a lot of leeway to just list off what they think happened. They need to find people who will get on the stand and say it for them, even if they’re not the most reliable witness.
These people could also offer other types of evidence, such as written records, expenses, or other documentation that helps in the prosecution’s case. As hard as investigators try, it’s fairly common for some evidence to remain out of sight unless someone decides to bring it forward (use it as leverage to get a more lenient plea, most often).
I’d be surprised to find out they’re letting these people off easy without something fairly substantial in return.