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this post was submitted on 30 Dec 2023
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Executives should be put in prison for this shit. Instead they get a relatively small fee which is just a "cost of doing business" to them.
Exactly.
I'd be OK with CEOs and other management getting these overinflated wages and benefits if their role actually encompassed being responsible for EVERYTHING the company does under their watch.
Now, they are only held responsible by shareholders for the finances of the company and everything else is just a cost calculation.
They are fined 78 Million, which means they probably made billions of these actions.
The fines should also be calculated as 100% of what they likely gained from their actions.
Those two together would change how corporations and their management do things drastically.
And I wouldn't just make rules that define the CEO gets to go to jail, because then in the shortest time, they'd put flunkies in the CEO position, without any power, while the actual CEO gets another name label.