Our governmental methods of punishment for corporations strike me as lacking. This seems similar to Wells Fargo, where ok, the company was fined, sued, made to pay restitution (somewhat) to victims. But underlying it all, the
culture and
incentives at the company that produced the situation didn't get fundamentally changed. Which often perpetuates across specific leaders, boards, and is a part of what a company
is -- and doesn't just get replaced by removing one or two people.
What does it take? You have to dismantle a company before it changes these kinds of deep-rooted issues? Or can a government penalty call for that? That is hard to achieve. Who's going to change the evaluation procedures that HR has in place to measure what rating or bonus you get this year? That seems to me as important as who is CEO.
None of the penalties courts mete out (short of dissolution/fined into bankruptcy) seem to be able to achieve this level of change needed.
What does it take? You have to dismantle a company before it changes these kinds of deep-rooted issues? Or can a government penalty call for that? That is hard to achieve. Who's going to change the evaluation procedures that HR has in place to measure what rating or bonus you get this year? That seems to me as important as who is CEO.
None of the penalties courts mete out (short of dissolution/fined into bankruptcy) seem to be able to achieve this level of change needed.