GE Fraud ?
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JimC
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Re: GE Fraud ?
You can't make an alert when you're at the bottom of the bay with concrete blocks for shoes...
Nurse, where the fuck's my cardigan?
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Brian Peacock
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Re: GE Fraud ?
Probably had an offer s/He couldn't refuse.
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Clinton Huxley » 21 Jun 2012 » 14:10:36 GMT
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"It isn't necessary to imagine the world ending in fire or ice.
There are two other possibilities: one is paperwork, and the other is nostalgia."
Frank Zappa
"This is how humanity ends; bickering over the irrelevant."
Clinton Huxley » 21 Jun 2012 » 14:10:36 GMT
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rainbow
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Re: GE Fraud ?
Not even that. As long as you aren't actually convicted of breaking the law, the worst that can happen is that you get a fat leaving bonus, and you pick up the next corporate position.Brian Peacock wrote: ↑Wed Nov 20, 2019 10:23 amI wonder if corporate boards are ever going to be responsible for anything but company profits.
I call bullshit - Alfred E Einstein
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Hermit
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Re: GE Fraud ?
Ah. The Golden Parachute. Plenty of CEOs have had their contracts terminated early because of unacceptably poor performance, and left with multi-million dollar termination settlements.rainbow wrote: ↑Thu Oct 01, 2020 9:24 amNot even that. As long as you aren't actually convicted of breaking the law, the worst that can happen is that you get a fat leaving bonus, and you pick up the next corporate position.Brian Peacock wrote: ↑Wed Nov 20, 2019 10:23 amI wonder if corporate boards are ever going to be responsible for anything but company profits.
Some examples from Australia. The list was collated in 2002, so keep in mind the buying power of the payouts 18+ years ago. Also, I'm sure there have been many more golden parachutes since.
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rainbow
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Re: GE Fraud ?
https://www.wsj.com/articles/judge-reje ... 1600388422Judge Rejects Hertz’s ‘Offensive’ Bankruptcy Bonuses
Sept. 17, 2020 8:20 pm ET
A bankruptcy judge blasted Hertz Global Holdings Inc.’s plan to pay top managers up to $14.6 million in bonuses after they collected millions in additional bonuses days before the rental car company filed for bankruptcy.
I call bullshit - Alfred E Einstein
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Sean Hayden
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Re: GE Fraud ?
General Electric Gets SEC Wells Notice Amid Insurance Accounting Probe
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Sean Hayden
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Re: GE Fraud ?
...but, but, but, you said everything is fine, naysayers just don't understand how your accounting works, the claims against you were baseless....General Electric Co. warned that it’s likely to face Securities and Exchange Commission allegations of accounting misdeeds, setting back CEO Larry Culp’s effort to put the company’s rocky past behind it.
It's probably just another mistake, oops.
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