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There are loads of valuable businesses inside 3M, it will continue operating no matter what, so probably not all employees will be affected by a bankruptcy. The
by tinco 3y ago
There are loads of valuable businesses inside 3M, it will continue operating no matter what, so probably not all employees will be affected by a bankruptcy. The responsible executives have probably already taken their profits and bailed. Focusing on that might feel good, but it's not what needs to happen.
What needs to happen is that shareholder value is eradicated. Pension funds, banks, hedge funds, retail investors, they should all lose their money. Every last cent of it. Only if shareholder value is eradicated will shareholders start demanding executives follow procedures that prevent disasters like this from happening.
Holding the executives responsible is fun, but we all know the next executive is gonna be ruthless and try and get away with it anyway.
- chiefalchemist 3y agoPutting executives in jail will be a much better deterrent than what we're doing currently. Fines aren't even a slap on the wrists. It's a cost of doing business. A cost the company does not pay, the market does.