Daihatsu, the Japanese automaker owned by Toyota, has halted domestic production after admitting it forged the results of safety tests for its vehicles for more than 30 years.
Daihatsu, the Japanese automaker owned by Toyota, has halted domestic production after admitting it forged the results of safety tests for its vehicles for more than 30 years.
There is no fine on earth that could be levied that would discourage others from doing this. If they have profits higher then who cares.
I’m in favor of forceful dissolution.
If you prove you cannot run a company safely, repeatedly violate safety violations and continue to do so for DECADES then you shouldn’t be allowed to sell any product, ever again, to the public. The company should be scrapped and all assets sold off or let the government take it and start making cars but drop the cost massively and only sell to its citizens ala pharmaceuticals.
People get their drivers license taken away for far less than this. For pretty small things overall. Toyota laughed at customer safety for 30 years and has only admitted it when caught. Why the fuck is this company allowed to continue existing?
Similar to the VW emissions scandal:
https://en.m.wikipedia.org/wiki/Volkswagen_emissions_scandal
That wasn’t over 30 years though…
Was the first thing that came to mind. Also should have been scrapped.
If you’re violating regulations you literally cannot be trusted on anything else.
I get the anger, but that’s the worst possible solution.
Where do you think the people that have been pulling this off successfully for years are gonna go? To unemployment lines, or to the next big paycheck in some other company? Spoiler alert: publicly traded companies are the natural habitat of ambitious twats with zero scruples.
And how about the guys that actually work the shop floor, how likely are they to have some other work opportunity that pays as well?
Translation: It is acceptable for a multi-national corporation to fuck over the general public safety of the entire fucking planet for DECADES because people will lose a job if they don’t do it. Therefore you should levy some basic punishment that will not affect them at all.
Sorry. Not buying it.
Fines are just the cost of doing business to these bastards.
I don’t think that’s the way to do it. The workers who have nothing to do with it get shafted by losing their jobs and there is a little less competition in a world where there isn’t enough in some industries. I think long jail sentences will the best deterrent. Fines only do so much. C-level executives needs to start going to jail.
But that would encourage workers to speak up if they see their companies doing something wrong because it could make everyone lose their jobs. I think that would be a benefit overall.
I agree people should go to jail too. For sure
Shutter a company and instead of a fine force the company to continue paying those workers at full pay for a defined amount of time like 5-10 years.
where is the money going to come from if they can’t sell anything?
5 - 10 years is a bit much, but liquidate the entire company, assets, buildings, real estate, etc. pay the executives $0, and continue salaries for as long as possible with those funds.
If they don’t have the cash on hand to survive payroll for 5 years they’ll have to liquidate assets and let people know they won’t be able to reopen so should try and find employment elsewhere while using the asset to pay them for the 5 year period wether they get a job elsewhere or wait to get a job after that 5 years.
when the punishment is a fine, it’s only a crime if you’re poor.
i agree but good luck enforcing that on capitalism
At some point there needs to be physical punishments for shareholders. Like, “Oh, you invested in a company that’s been willfully flaunting safety regulations for a generation? Yeah, you don’t get to have hands anymore. Maybe you should have done some more due diligence.”
Stumpify a few hundred thousand wall street types and maybe there’ll be a culture change.
What would due diligence be by shareholders in a situation like this?