4 ms·
Unfortunately this is much too true. Compliance controls are a sham. Auditing is garbage. Corporate America is made up of executives who unirononically fail to
by pm90 7y ago
Unfortunately this is much too true.
Compliance controls are a sham. Auditing is garbage. Corporate America is made up of executives who unirononically fail to execute on anything.
The few places that do execute are: startups (nobody trusts you or your product, you have to go the extra mile) and a few corporations with strong culture.
It’s impossible for eg regulations to guarantee that corporations will follow the intent and not just check boxes. So most don’t and indeed just check boxes.
The solution is pretty easy: bring back anti trust laws. Break up the old boys’ clubs; monopolies are driving the country to the ground.
- markus_zhang 7y agoAnd i heard that they are supposed to get a huge compensate because they "take larger risk" than the soldiers, while inn reality they put OTHER's life and money in risk while they themselves take fat compensate and even if SHTF they just resign to enjoy life in some islands.
- dnautics 7y agoSupply and demand. Do you know how rare it is to find such psychopaths? Those are valuable humans.
- markus_zhang 7y agoDamn man you are so right...
- dnautics 7y agoOk but don't despair. 1) on the individual level, maybe measuring other's (or one's own) worth by how much money you have or how much political power you have is the flaw. 2) on a collective level, if we do think that reward in the financial sense should go to the good people, we should think about what we consume; we have ultimate agency over all of that. As for politicians, I'm less optimistic; the popularity contest in high school never selected for good people and I see no evidence it's any better among adults.
- clon 7y agoDavid Calhoun is the replacement - head of Blackstone private equity. An accountant running an engineering company, what could possibly go wrong. You can assume that stock price will take the front seat now, if it already had not. The bean counters have yet to internalise the fact that it is am engineering culture failure, stemming from the toxic MacDac merger. This is a further signal that things are going downhill for Boeing. To be fair, Dennis Muilenburg was at least an engineer, lead the X-32 program (the funny looking bug plane that was runner-up for the JSF). An engineer, possibly at am advanced Peter principle level, but an engineer.
- dv_dt 7y agoDennis M was an engineer, but the McNeirney the previous CEO was the first non-engineer and very much a MBA type. I figure Dennis is stepping down for not being able to fix problems that came up under the previous CEO fast enough or completely enough.
- clon 7y agoHe did come across as a basically decent person. He was not ousted for being unable to undo the MBA damage. He was let go for being unable to jedi mind fuck the plane back into the air. This, as far as his employers are concerned, is the measure of his failing.
- dv_dt 7y agoPutting another accountant in charge is likely going to make for more risks taken at Boeing that don't directly show up in an accountable form on financial spreadsheets. Sounds mundane, but a mathmatician/economist/businessman/politician who can drive quantitative risk accounting forms into operating and SEC reported balance and cashflow reports might save our economy and society. Hasn't happend so far though.
- papito 7y agoYes, I expect a lot of "financial engineering". "Boeing’s 737 Max Was an Epic Error. So Why’s the Company’s Stock Still Going Up?" http://nymag.com/intelligencer/2019/12/after-boeings-737-max-mistake-why-is-the-stock-going-up.html http://nymag.com/intelligencer/2019/12/after-boeings-737-max...