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We need a corporate death penalty: when a corporation has been convicted of murder out other acts, the corporation should be dissolved, the assets sold off, and
by lanternslight 7y ago
We need a corporate death penalty: when a corporation has been convicted of murder out other acts, the corporation should be dissolved, the assets sold off, and the proceeds distributed to the victims families. As it stands now, the execs get their gold, the corporations get a slap in the wrist, and then it's business as usual.
- bpt3 7y ago> We need a corporate death penalty: when a corporation has been convicted of murder out other acts, the corporation should be dissolved, the assets sold off, and the proceeds distributed to the victims families. That's what is supposed to happen through the legal process, but isn't currently as you pointed out. We don't need new processes, we just need to use the ones we have as they should be.
- AnthonyMouse 7y agoA corporation's assets are typically worth more as an operating business than as a disjoint collection of vehicles and land, so the buyer would tend to be someone who wants to continue operating the business and would buy the whole thing. In many cases the value of the business would also exceed the liability, in which case the difference should presumably go to the original shareholders. They might then want to use that money to invest in the new business. That is effectively what already happens. You're basically just asking for the amount of liability for particular behavior to be larger than it is, and then in more cases it would cause the corporation to go bankrupt and have to raise new capital in order to continue operating, because the result would be the same.