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I wonder if the exec in question would be fine with an “oh sorry about that” if someone blew up the cemetery where his grandparents are buried? Yet another cas
by tw04 5y ago
I wonder if the exec in question would be fine with an “oh sorry about that” if someone blew up the cemetery where his grandparents are buried?
Yet another case where the fine needs to be a percentage of revenue.
- gruez 5y agoEvery time this brought up the person doing so doesn't seem to realize that some companies have lower margins than others (eg. walmart vs microsoft), so you end up those companies more.
- tw04 5y agoI understand margin quite well. The whole point of the penalty is to make it painful enough they don't do it again. You can hide profit, you can't hide revenue.
- gruez 5y ago>You can hide profit, you can't hide revenue. You can't hide revenue, but you can hide assets. You might get your $100M judgement, but it's pointless when you can't collect it because the company you fined is a pass-through entity with no assets.
- vkou 5y agoA pass-through entity with no assets should not be allowed to conduct any business where they might incur long-term liabilities.
- jon_richards 5y agoI’ve thought about a system where a company has to purchase liability insurance when they dump assets. So if a plant has a chemical leak, the company can’t sell every other plant, pay a huge dividend, and then declare bankruptcy to avoid paying damages. The plant would have to be insured for up to the total dividend payout. The insurance company would charge a huge fee based on what they think the plant will end up costing after a court battle, etc.