Re:Boeing to plead guilty to criminal fraud charge stemming ...
by cellis on Monday July 08, 2024 @11:07AM
(#40906093)
Boeing employs millions (mostly indirectly via downstream cottage industries) of people and I think is the leading net exporter by revenue of the US. Politicians don’t want to hurt them too badly because all those employees vote.
Re:Boeing to plead guilty to criminal fraud charge stemming ...
by lenerdenator on Monday July 08, 2024 @01:35PM
(#40907423)
That's why you limit the liability of the company as a whole, but create great risk for the actual executives who decided that safety came second to the profit margin. Again, you can imagine what that would be, but when you compensation is in the tens of millions and there are hundreds dead, well... the risk has overcome the reward and the punishment should match.
Boeing's problem is its management. If you tell the rank-and-file worker to use the company's billions of dollars worth of production capital to build a quality airplane and hold them to it, they've shown they have the ability to do so in the past.
In today's culture, I often hear C-suiters talking about how much "risk" they are taking, to justify their outrageous salaries and stock holdings, but I almost never see them pay much, in the way of penalties, except for the very smallest, most "raw" companies, where they have, literally, sunk their entire net worth into the endeavor.
It seems that, once a company has reached a certain threshold, the only real "risk" that executives experience, is that they'll only get a 5% bonus, instead of 30%. So, only $5M, as opposed to $30M.
AUTHORITEH: "Put out your hand!"
GUILTEH: "OK"
AUTHORITEH: <SLAP> "Bad Executive! Bad, bad, Executive! Don't let it happen again! See you at the party on Saturday?"