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At the very least we should have a corporate death penalty. Force the company into bankruptcy, de-list it from the stock market, and turn it into a worker-owned
by avidphantasm 3y ago
At the very least we should have a corporate death penalty. Force the company into bankruptcy, de-list it from the stock market, and turn it into a worker-owned co-op that can never be publicly traded or be sold to private equity.
- lttlrck 3y agoYes I feel this needs to hit the shareholders hard. But they'll just continue to cut costs to get the value back up and we'll be back here in a couple of years. It needs deep institutional changes and I can't see that happening.
- vlovich123 3y agoEven if we had it politicians would rush to protect Boeing. It’s too critical a partner for many large national defense projects.
- lokar 3y agoThey should break the civil aviation business off into a new company.
- dpkirchner 3y agoIf it's important enough to national defense, let's nationalize it. Or at least move the parts we absolutely need to the DoD.
- xvector 3y agoA death penalty for grossly negligent execs is also necessary. They'd get their shit together so fast if they faced meaningful consequences to their fuckups.
- lokar 3y agoThey should at least revoke financial liability protection for the members of the board.
- chris_va 3y agoI am not going to defend execs/board members, but that seems ill advised. If you had a death penalty for execs, most competent people would refuse the job, and you'd end up in a worse situation.
- poncho_romero 3y agoWhere are the competent people taking the job now?
- nvm0n2 3y agoAirbus? The death penalty would apply to them too, presumably.
- xvector 3y agoPrison and even the death penalty should absolutely be considered for the bean-counting Boeing execs that deliberately drove safety into the ground for profit. The blood of innocents is on their hands, and yet they get to cheerfully cash in their stock options. Airbus execs seem fine[1], so they'd have nothing to fear here. [1]: https://admiralcloudberg.medium.com/a-matter-of-millimeters-the-story-of-qantas-flight-32-bdaa62dc98e7 https://admiralcloudberg.medium.com/a-matter-of-millimeters-...
- nvm0n2 3y agoLol nothing to fear except the death penalty if employees you never heard of 5 reporting lines below you screw up badly enough? Where do people come up with this stuff. If you want a mass exodus from airline management and sudden collapse of the entire industry that would be a fast way to do it.
- xvector 3y ago> if employees you never heard of 5 reporting lines below you screw up badly enough? Sounds like a good way to encourage execs to prioritize safety systemically. In either case, of course negligent decisions on part of the C-suite would be considered. > sudden collapse of the entire industry that would be a fast way to do it. Compensations would increase accordingly. The industry would be fine.
- bsimpson 3y agoIf a corporation can be "punished" to become a co-op, what incentive does that give the employees?
- avidphantasm 3y agoMost workers are already hopelessly alienated and don’t give an eff…
- WJW 3y agoI think GP meant that they might give more of a fuck (in the wrong direction) if sabotaging "just this one bolt" means this they can own a significant chunk of stock in the company they are part of. According to a quick search Boeing has a market cap of ~150 billion and 150k employees, so if you manage to hide that it was you who installed the bolt wrong then assuming the company gets distributed roughly equally among employees then that's a quick 1 million payday. How certain are you that "hopelessly alienated" employees wouldn't sell out a few hundred anonymous passengers for a million bucks?
- InTheArena 3y agoWorker-owned companies have a unbelievably shitty record in the aviation space.It's been tried. The right thing to do at this point is to go the airbus route, make the government responsible for launch aid, and put engineers back in charge of the company.