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McKinsey makes something like 10 billion annually in revenue. This is a slap on the wrist. People need to be held accountable for these misdeeds.
by sc68cal 2y ago
McKinsey makes something like 10 billion annually in revenue. This is a slap on the wrist. People need to be held accountable for these misdeeds.
- swasheck 2y agoyep. would rather it be a multiple of revenues from their role instead of a percentage.
- passwordoops 2y agoCriminal charges for execs and board members
- bdangubic 2y agohigher chance of me marrying gisele than that ever happening :)
- raincom 2y agoProsecutors have to use RICO to charge execs and board members criminally. This is not going to happen, as long as the revolving door (or a sort of collusion between prosecutors and executives) exists.
- jncfhnb 2y agoIt’s a partnership. Ultimately the line of people involved in any particular job is extremely short. Unlike in a tech company where the whole company is building a product, consulting companies are thousands of teams doing projects in a small isolated bubble.
- niceice 2y agoThat's more than I would have thought. What generates that? How much of it is consulting?
- rrr_oh_man 2y agoIt's almost certainly almost all fees charged to clients for consulting projects. Let's assume 2,000 working hours per year, 80% utilization at $150/hr, and 40,000 employees (worldwide) — that's $9.6B.
- bmitc 2y agoWhat companies use consultants and how? In all my years, I have never seen a consultant or a need for one, so I have a tough time understanding how they make any money, much less a lot of it.
- 1123581321 2y agoHaven’t you ever wanted research, advice or work done and your coworkers or employees were busy or not quite up to it? White glove consulting is just well-packaged, expensive help.
- rrr_oh_man 2y agoWhy white glove? That sounds like the opposite of hands-on.
- 1123581321 2y agoI meant to say white shoe. Sorry about that.
- rrr_oh_man 2y ago3 main use cases from my experience: - Executives want to do cross-functional changes. (E.g., introduce new ERP software) - External ruthless assessment of head count and subsequent slashing. - Body leasing. (quasi-employees that are not on the books as employees) Mostly in medium-sized and larger orgs where there’s too much cruft.
- potamic 2y agoThe world needs to adopt some sort of a punitive equivalence principle. Humanity overall has made a lot of progress towards enshrining human rights, but a lack of punitive equivalence is a gaping hole in the right to equality before law. How are two people treated equally if they face different punitive effects for the same act?
- gruez 2y agoThis line of thinking makes no sense. Why should we care about what their global revenue is? The only thing that matters is how much money they made from opioid consulting. If Amazon did a bad in a small part of their company (eg. they violated labor laws in the state of Washington), why should their punishment be compared to their global revenue?
- kjkjadksj 2y agoBecause otherwise someone clever could play a shell game where every org does something bad but its split up in such a way to diffuse responsibility across the organization and minimize fines, especially since not all bad things will be caught and fined simultaneously.
- gruez 2y ago>Because otherwise someone clever could play a shell game where every org does something bad but its split up in such a way to diffuse responsibility across the organization and minimize fines, "We can't figure out who to blame because responsibility is so diffuse, so let's make everyone 100% responsible" makes as much sense as "we can't figure out who the murderers are so let's lock up anyone who vaguely looks like a gangster"[1]. More to the point, it's unclear whether this actually applies in this case. At the very least, you can confine responsibility to the consulting engagements they did with opioid producers. The value McKinsey & Company provides in their management consulting engagements might be questionable, but it's a stretch to claim their engagements with some random fortune 500 (non-pharma) company contributed to the opioid crisis, or need to be punished. [1] https://en.wikipedia.org/wiki/Salvadoran_gang_crackdown https://en.wikipedia.org/wiki/Salvadoran_gang_crackdown