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Punishing the company into bankruptcy is one thing, but the company is made up of individuals who will go work at other companies and likely escape lawsuits sin
by voisin 4y ago
Punishing the company into bankruptcy is one thing, but the company is made up of individuals who will go work at other companies and likely escape lawsuits since they were operating within the umbrella of their job. So ultimately the shareholders who weren’t involved in the catastrophe will be punished and not the people that ultimately caused the issue.
No argument from me that the shareholders should take a major financial loss (they should demand better safety controls), but to prevent this from happening again (which I think is the key goal, rather than plain old retribution), I am arguing that there should be strict liability for the individuals as well - throw them in jail, bankrupt them, etc, so that a message is sent that employees of all companies owe, at a minimum, a duty of care to protect the safety of the general public. Essentially take away the employees’ ability to say “I was just following orders to try to maximize shareholder value”. Give the employees, in response, some protection from being fired for upholding this new obligation.
- AmVess 4y agoThis is the only approach that will work. Punish all those involved with stiff criminal charges and punishments that include jail time and loss of all personal assets. Avoidable incidents like these would become a thing of the past.
- scotty79 4y ago> who will go work at other companies and likely escape lawsuits since they were operating within the umbrella of their job. And who'll exactly hire people responsible for the death of their previous company?
- voisin 4y agoIt happens all the time. Do you think the accounting employees of Enron are all unemployed right now? People downplay their involvement.