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Are you really claiming that a $22M loss is a "screwing" for Monsanto?
by S_Daedalus 10y ago
Are you really claiming that a $22M loss is a "screwing" for Monsanto?
- Alex63 10y agoMonsanto's punishment was an $80M settlement. The $22M was just the reward to the whistleblower.
- gingerrr 10y agoMonsanto posted a gross profit in 2015 of $8 billion [1]. I doubt losing 1% of their earnings for a single year qualifies as being "screwed". -- [1]: http://www.monsanto.com/investors/documents/2015/2015.10.06_mon_q4f15_earnings.pdf http://www.monsanto.com/investors/documents/2015/2015.10.06_... - "Gross Profits: $8,182 M" edit: accidentally a word
- staticvar 10y agoGod. Put it in those terms and it feels like the punishment for corporate tax fraud is a parking ticket.
- S_Daedalus 10y agoEven worse, it's just written off as a cost of doing business.
- rtpg 10y agoIt's for accounting improprieties, not a drug hustle. The fine is proportional to the crime. Even if we charged $800 million for this, would we charge $800 million for them not having a handicapped parking space at one of their offices? Comparing to overall profits is counterproductive and dishonest. The punishment should fit the crime.
- TheCoelacanth 10y agoFraud is a serious crime. Much worse than selling drugs in my opinion.
- gingerrr 10y agoComparing to overall profits is necessary when the discussion is about whether the penalty financially screws Monsanto's shareholders over. Nowhere in the parent thread is there a discussion going on about whether this is an appropriate penalty, just whether or not it "screws" Monsanto - in the context of their 2015 earnings statement, it's obviously not.
- deleted 10y ago[deleted]
- S_Daedalus 10y agoAre you really claiming that an $80M settlement is a "screwing" for Monsanto? I'd call it a "Blip".