Non-IT News Thread
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@scottalanmiller said in Non-IT News Thread:
@DustinB3403 said in Non-IT News Thread:
Significant investors could be on the board, and thus should feel the pain of doing something scrupulous I agree. But the peon investors have almost no say.
All owners, no matter how small, voluntarily participate in the running of the company including the appointment of the board. The owners benefit from the positive outcomes of all actions, and are penalized by the negative ones.
The board does illegal things for the sole purpose of benefiting the investors. The investors are the only people for whom punishment makes sense.
Which is why I said fines are the only way to punish illegal activity.
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@DustinB3403 said in Non-IT News Thread:
To clarify as you're nitpicking my words apart.
Most investors have little to no actual say in the business operations. It's the large investors who control 51% and up of the business who decide these things.
I agree, every investor has a say, but that say often is completely ignored.
Not even slightly. Every investor is there voluntarily and pays for the amount of say that they have. Penalties are levied equal to their involvement. So ANY mention of the scale of an investor is a misunderstanding of how it works. Their profits and losses and penalties are all proportionate to their responsibility for such.
Because all owners can leave at any time, there is zero lack of culpability for the actions of the company.
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Also what I believe many people here are overlooking is that there can be a few investors who own the majority share of a company like Google, and decide to do things illegally because they have the most say.
An investor with less than .01% stock in a company, has a say, and its shut up and let us run the way we want, or sell your stock.
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@momurda said in Non-IT News Thread:
@DustinB3403 Google DID do something wrong. That is why they were fined. A pittance that means nothing, but they were fined. I dont lie, and havent done anything wrong.
Google may not agree that they did something wrong.
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@momurda said in Non-IT News Thread:
@DustinB3403 Shareholders are owners of the company. By investing they are agreeing with decisions of the board. Why shouldnt individual retail investors feel the pain of this fine? They agreed to the bad activity by investing.
And if they are NOT fined, what is the purpose of the fine? The only people that can be fined are the owners. Everyone else works for them and is not the party at fault.
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@scottalanmiller Well, they might not agree, but they are wrong according to EU antitrust regulators.
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@scottalanmiller said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 Shareholders are owners of the company. By investing they are agreeing with decisions of the board. Why shouldnt individual retail investors feel the pain of this fine? They agreed to the bad activity by investing.
And if they are NOT fined, what is the purpose of the fine? The only people that can be fined are the owners. Everyone else works for them and is not the party at fault.
Corporations are PEOPLE! Individual PEOPLE!
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@DustinB3403 said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 Shareholders are owners of the company. By investing they are agreeing with decisions of the board. Why shouldnt individual retail investors feel the pain of this fine? They agreed to the bad activity by investing.
And if they are NOT fined, what is the purpose of the fine? The only people that can be fined are the owners. Everyone else works for them and is not the party at fault.
Corporations are PEOPLE! Individual PEOPLE!
And the humans who work for corporations are the employee of a individual Corporate person!
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My point is a fine is all you can legally do, short of forcing the business out of the country.
The business pays the fine, or has worse fines and punishments due.
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@momurda said in Non-IT News Thread:
@DustinB3403 As Scott said it is only their profit being fined. I ask again why it shouldnt be all or a significant part of it? Neither of you has answered that.
I did. Because that's capricious and makes no sense. Punishment must correlate with the law, not be based on the size of the company. What if an employee at Google stole a candy bar, is that the same punishment as this? If not, why would a number like 90% be presented? It's not sensible. It would be punishing because they can be punished, not based on what they did.
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@scottalanmiller said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 As Scott said it is only their profit being fined. I ask again why it shouldnt be all or a significant part of it? Neither of you has answered that.
I did. Because that's capricious and makes no sense. Punishment must correlate with the law, not be based on the size of the company. What if an employee at Google stole a candy bar, is that the same punishment as this? If not, why would a number like 90% be presented? It's not sensible. It would be punishing because they can be punished, not based on what they did.
The only way getting fined 90% or 100% of their profits would make any sense at all was if what they did was the sole source of their profits.
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@DustinB3403 said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 You are missing what i am saying. By default when you invest in a company you are agreeing with their management. If you didnt, you can choose to invest in a different company.
But management changes, decisions change as business goes on. Just because you agreed at one time, doesn't mean you know all of the inter workings of the business.
But it is YOUR responsibility as an owner to do so and you have legal recourse for this. The investors are the ones that profit from it, and take risks for that profit. Period. It is fully voluntary. You choose this risk when you invest. There is no other responsible party.
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@scottalanmiller said in Non-IT News Thread:
@DustinB3403 said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 You are missing what i am saying. By default when you invest in a company you are agreeing with their management. If you didnt, you can choose to invest in a different company.
But management changes, decisions change as business goes on. Just because you agreed at one time, doesn't mean you know all of the inter workings of the business.
But it is YOUR responsibility as an owner to do so and you have legal recourse for this. The investors are the ones that profit from it, and take risks for that profit. Period. It is fully voluntary. You choose this risk when you invest. There is no other responsible party.
I agree, which is why I keep repeating that fines are normal and to be expected.
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@momurda said in Non-IT News Thread:
@DustinB3403 No becasue lying isnt illegal. If i did something whose punishment deserved a fine, then yes i should be fined. I have been fined 90% of my profits before(posession).
But your fined was based on what you did, right? They didn't ignore what you did, then look at your profits and say "doesn't matter what he did, let's just take all that we can?"
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@DustinB3403 said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 No becasue lying isnt illegal. If i did something whose punishment deserved a fine, then yes i should be fined. I have been fined 90% of my profits before(posession).
Sure it is, it's illegal to lie on a contractual obligation. It's illegal to lie in court.
And technically, the claim is that Google lied about the best things to buy. So lying is, pretty much, what the fine is for.
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@momurda said in Non-IT News Thread:
@DustinB3403 Thats why you sell your shares when management changes their behavior to something you dont like. Have you ever invested money before? Do you keep a position forever?
Right, ownership changes way faster than management does.
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@DustinB3403 said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 Thats why you sell your shares when management changes their behavior to something you dont like. Have you ever invested money before? Do you keep a position forever?
Or a different investment strategy is to hold on to your shares, threw thick and thin of the company.
Sure, but that is 100% a choice and if you do that, you absolutely need to be the one help accountable for being the long term owner responsible for what happened.
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@scottalanmiller said in Non-IT News Thread:
@DustinB3403 said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
@DustinB3403 Thats why you sell your shares when management changes their behavior to something you dont like. Have you ever invested money before? Do you keep a position forever?
Or a different investment strategy is to hold on to your shares, threw thick and thin of the company.
Sure, but that is 100% a choice and if you do that, you absolutely need to be the one help accountable for being the long term owner responsible for what happened.
Of course, and that is where you accept the results of the fine and pay your portion of the responsibility.
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@momurda said in Non-IT News Thread:
@DustinB3403 That is a terrible idea and how people go bankrupt. Ill just hold on to my Eastman Kodak shares...
WHY SHOULDNT THE FINE BE 100% OF GOOGLE'S PROFIT FOR A YEAR?Why should there be? Answer it in reverse. I've made it really clear, I though, why it should never be like that. If you think that it should be, explain the logic for why it should be 100%. And why not 1% or 1000%. How is your 100% number not absolutely arbitrary?
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With that logic, every speeding ticket should carry a fine of 100% of your income. Every ticket. Whether you go over by 1mph, or drive 200mph through a school zone. One fine for all offences, and based on your total disposable income for one year.
