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So this is something I actually feel somewhat knowledgeable (qualified?) enough to speak on. As to why, happy to discuss in the comments, though I don't think i
by TimSchumann 6y ago
So this is something I actually feel somewhat knowledgeable (qualified?) enough to speak on. As to why, happy to discuss in the comments, though I don't think it's relevant to what I'm about to say.
Cargill is just another 'private company' in the same way that Carnegie Steel was just another private company, or Standard Oil was just another publicly traded company. It's actually a family business in the truest sense of the word. The family itself owns nearly the entire financial stake in the business, and controls the rest in all but name.
With 115+ billion in annual revenue, they are one of the largest companies in the world, public or private. I believe if you exclude state owned enterprises, they would be top 50 worldwide somewhere around Microsoft. And as far as companies go, at least on the corporate side, they seem to treat their employees well from both a benefits and compensation standpoint.
They operate in multiple markets with near impunity where they are, essentially, the only buyer or seller of goods at scale. And, depending on who you believe and how you read into things, are responsible for anything ranging from really terrible industrial accidents, all the way up to exploitation and nation state style cover-ups and atrocities.
Why is this? And this is where I get to the 'trust me if you dare, just my opinion' part of the post, but... few short reasons.
One -- They're privately held, and subject to much less scrutiny because of it.
Two -- They're a generational wealth family business. Combine that with the lack of 'publicly traded' above and those who are actually delegated the work have no incentive to step out of line.
Three -- In almost every market they're in, the cost of them ceasing operations in that market is perceived as more harmful, for everyone, than whatever negative externalities they happen to create.
Happy to clarify, or hear how I'm wrong in my thinking.
- ncmncm 6y agoThere is no company or person so bad that defenders won't crawl out of the woodwork. There are laws already on the books allowing corporate officers to be charged individually for, e.g., wrongful deaths, gross negligence, destroyed livelihoods. All we need is for prosecutors to start using them. Whenever I mention this, somebody pops up babbling about hysteria, as if those laws were written and passed in some sort of fit.