Profits 1st, Safety 2nd?

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Message 1998175 - Posted: 14 Jun 2019, 14:41:15 UTC - in response to Message 1998169.  

Fiduciary duty to the shareholder.

Gary I posit there will be shareholders suing for the loss in value of their stock due to the reckless behavior by management with their cutting corners.
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Message 1998182 - Posted: 14 Jun 2019, 16:19:36 UTC

Very unlikely to be lawyers - project accounts are the most likely scoundrels by saying "We must save $$$", then cutting engineering's budget by x% to do so.
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Message 1998185 - Posted: 14 Jun 2019, 16:58:38 UTC - in response to Message 1998182.  

Very unlikely to be lawyers - project accounts are the most likely scoundrels by saying "We must save $$$", then cutting engineering's budget by x% to do so.

The lawyer was in his office right before the cut reminding him to maximize profit at all costs. Or he hit the boardroom with the same message and it came down the chain.
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Message 1998186 - Posted: 14 Jun 2019, 17:03:35 UTC

Lawyers don't hold the purse strings, the project accountants do.
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Message 1998188 - Posted: 14 Jun 2019, 17:17:46 UTC

This is beginning to sound like "two countries, divided by a common culture" - in this case, our respective attitude to lawyers. On this side, corporate lawyers assist, advise, sometimes warn: on the other side, I suspect they have a higher executive status. Maybe in the end, it will come down to a tussle between American criminal lawyers vs American corporate lawyers. What's the formbook on that one?
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Message 1998190 - Posted: 14 Jun 2019, 17:54:22 UTC - in response to Message 1998188.  

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Message 1998191 - Posted: 14 Jun 2019, 17:59:46 UTC - in response to Message 1998188.  

Maybe in the end, it will come down to a tussle between American criminal lawyers vs American corporate lawyers. What's the formbook on that one?
Corporate ones win, negotiated settlement for a fine which will be passed on to the customer.

Look at PG&E and the recent wild fires to see how it works.
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Message 1998194 - Posted: 14 Jun 2019, 18:21:52 UTC - in response to Message 1998191.  

Corporate ones win, negotiated settlement for a fine which will be passed on to the customer.
You mean like in healthcare that cost twice as much in the US compared to all other OECD countries?
Are customers in the US more safe because of lawyer fees then we are ?
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Message 1998221 - Posted: 14 Jun 2019, 21:45:45 UTC - in response to Message 1998194.  

Corporate ones win, negotiated settlement for a fine which will be passed on to the customer.
You mean like in healthcare that cost twice as much in the US compared to all other OECD countries?
Are customers in the US more safe because of lawyer fees then we are ?

What part of Fiduciary duty to the SHAREHOLDER do you no understand? There is no duty to the customer. Aren't legal ethics grand?
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Message 1998226 - Posted: 14 Jun 2019, 22:11:10 UTC - in response to Message 1998221.  

Corporate ones win, negotiated settlement for a fine which will be passed on to the customer.
You mean like in healthcare that cost twice as much in the US compared to all other OECD countries?
Are customers in the US more safe because of lawyer fees then we are ?

What part of Fiduciary duty to the SHAREHOLDER do you no understand? There is no duty to the ustomer. Aren't legal ethics grand?
Lets say that legal ethics are very different between the US and Europe, eh the EU, eh countries not in the Eurozone, eh not the Schengen agreement.
So what part don't you understand?
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Message 1998233 - Posted: 14 Jun 2019, 22:55:15 UTC - in response to Message 1998226.  

Corporate ones win, negotiated settlement for a fine which will be passed on to the customer.
You mean like in healthcare that cost twice as much in the US compared to all other OECD countries?
Are customers in the US more safe because of lawyer fees then we are ?

What part of Fiduciary duty to the SHAREHOLDER do you no understand? There is no duty to the ustomer. Aren't legal ethics grand?
Lets say that legal ethics are very different between the US and Europe, eh the EU, eh countries not in the Eurozone, eh not the Schengen agreement.
So what part don't you understand?
Thought we were discussing Boeing, HQ USA. I know the rest of the world is different, why they flock to the NYSE.
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Message 1998235 - Posted: 14 Jun 2019, 23:17:12 UTC - in response to Message 1998233.  

Why would airliners that are not even American flock to NYSE?
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Message 1998252 - Posted: 15 Jun 2019, 1:18:44 UTC - in response to Message 1998235.  

Why would airliners that are not even American flock to NYSE?

Not just airlines, corporations of every kind. Why, access to the US court system which is business friendly and anti-consumer.
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Message 1998281 - Posted: 15 Jun 2019, 8:28:56 UTC

I have to say that one of the few groups of people to actually profit from the MCAS debacle will be the corporate lawyers. Just think corp on corp actions, class actions, individual actions. it will keep them in bacon butties for the rest of their greedy lives to no benefit of Joe Public apart from higher airfares....
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Message 1998293 - Posted: 15 Jun 2019, 12:21:56 UTC

What's WRONG with Boeing?! MAX update
https://www.youtube.com/watch?v=LQCPSXTE9Mg
Petter's dog seem to have no interest at all...
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Message 1998326 - Posted: 15 Jun 2019, 19:11:25 UTC

...that dog rarely shows any interest....
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Message 1998329 - Posted: 15 Jun 2019, 19:36:39 UTC - in response to Message 1998326.  

He's called Patxi:)
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Message 1998466 - Posted: 16 Jun 2019, 21:57:23 UTC
Last modified: 16 Jun 2019, 22:12:52 UTC

Whirlpool had claimed the fire was caused by “spontaneous combustion” inside the tumble dryer.
Whirlpool had brought US experts to the inquest and “at no time did they accept there was a problem”. The company did accept after the inquest that the tumble dryer was the source of the fire, but there was no admission over the specific mechanism.
Whirlpool of flames
"Nice" experts. Are all U.S. experts that dumb?

Edit: Shame the rest of the world cannot follow suit.
In Australia and New Zealand, the authorities have decided they cannot wait for international agreement.
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Message 1998520 - Posted: 17 Jun 2019, 7:33:09 UTC
Last modified: 17 Jun 2019, 7:35:09 UTC

The BBC has put together one of their long background pieces on the Boeing 737 Max saga. Haven't read it yet, but they're usually pretty thorough.

Boeing and the battle over blame

Edit - broadcast news is linking the Max story to the Paris Air Show, opening today.
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Message 1998527 - Posted: 17 Jun 2019, 9:11:01 UTC - in response to Message 1998520.  
Last modified: 17 Jun 2019, 9:12:00 UTC

The BBC has put together one of their long background pieces on the Boeing 737 Max saga. Haven't read it yet, but they're usually pretty thorough.

Boeing and the battle over blame

Just now read it thanks in a brief break:

That is an excellent write-up and excellent journalism. Covers nicely our discussions on this thread.



Edit - broadcast news is linking the Max story to the Paris Air Show, opening today.

That will be 'interesting' for the Boeing Marketing 'spin'...



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Message boards : Politics : Profits 1st, Safety 2nd?


 
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