Corporate Malfeasance

emby
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Corporate Malfeasance

Post by emby »

Corporations doing bad things thread.

My big bugaboos in this realm is treatment of workers, ripping off customers, and making a mess they won't clean up.

But I really get all pissy about funding death squads to keep labor costs down.

US jury holds banana giant Chiquita liable for financing Colombia paramilitaries
Victims of paramilitary violence in Colombia on Monday secured a landmark victory against banana giant Chiquita Brands International in a US federal court in Florida.

A jury found the company liable for financing the United Self-Defense Forces of Colombia (AUC), a US-designated terrorist organization known for its human rights abuses, according to EarthRights, an NGO that helped build the case.

The jury awarded the surviving family members $38.3 million in damages for the deaths of eight victims.

The eight plaintiffs in this case were the family of the victims, who include husbands and sons targeted and killed by the AUC, according to their lawyers.

“This verdict sends a powerful message to corporations everywhere: profiting from human rights abuses will not go unpunished. These families, victimized by armed groups and corporations, asserted their power and prevailed” @Power_of_Law https://t.co/BksEHP246X

— EarthRights Intl (@EarthRightsIntl) June 10, 2024
"Our clients risked their lives to come forward to hold Chiquita to account, putting their faith in the United States justice system," said Agnieszka Fryszman, one of the attorneys leading the case.

Chiquita in 2007 confessed in a US court to having financed the AUC from 1997 to 2004, which was then designated as a foreign terrorist organization in the United States.

That designation made supporting the AUC a federal crime.

The company has said that it was a victim of extortion when it paid the money to the group.

The plaintiffs alleged that Chiquita paid the AUC nearly $2 million, despite knowing that the group was engaged in a reign of terror.

The jury accepted the argument that the money transferred to the paramilitaries was used to commit war crimes such as homicides, kidnappings, extortion, torture and forced disappearances.

The AUC wreaked terror on the country in the 1990s as part of a bitter war against Colombian far-left guerrillas, aided at times by members of the armed forces.

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The group laid down arms in 2006, confessing to crimes and agreeing to compensate victims.

Marco Simons, general counsel at EarthRights International, hailed the verdict as "a powerful message to corporations everywhere: profiting from human rights abuses will not go unpunished."

Simons also praised the courage of the families who prevailed against a major American company in the judicial process.
Lots of different calculations for the size of the global banana market but most are in the billions.
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The Outsider
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Re: Corporate Malfeasance

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This is why I don't buy bananas.
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PetePierson
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Re: Corporate Malfeasance

Post by PetePierson »

Now do Blackrock, Vanguard, State Street and whatever the fuck Bill Gates is up to in this country.
emby
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Re: Corporate Malfeasance

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PetePierson wrote: Wed Jun 12, 2024 9:13 am Now do Blackrock, Vanguard, State Street and whatever the fuck Bill Gates is up to in this country.
That's the plan. This is a bit of a journalistic project because "business news" is atrociously nothing of the sort.

Why go to all the trouble of "It's all connected, man." when you have real life American executives funding death squads in South America. Literal Banana Republic shit and nobody is going to go to jail for it. Just gonna cut another check to smooth things out.

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Re: Corporate Malfeasance

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emby wrote: Wed Jun 12, 2024 10:09 am
That's the plan. This is a bit of a journalistic project because "business news" is atrociously nothing of the sort.

Why go to all the trouble of "It's all connected, man." when you have real life American executives funding death squads in South America. Literal Banana Republic shit and nobody is going to go to jail for it. Just gonna cut another check to smooth things out.

And therein lies the problem; big business owns the major media outlets.
emby
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Re: Corporate Malfeasance

Post by emby »

PetePierson wrote: Wed Jun 12, 2024 10:13 am
emby wrote: Wed Jun 12, 2024 10:09 am
That's the plan. This is a bit of a journalistic project because "business news" is atrociously nothing of the sort.

Why go to all the trouble of "It's all connected, man." when you have real life American executives funding death squads in South America. Literal Banana Republic shit and nobody is going to go to jail for it. Just gonna cut another check to smooth things out.

And therein lies the problem; big business owns the major media outlets.
Business owns all the media outlets.

They're media businesses.

Edit: I know there's plenty of muckrakers out there and I'd like to find em. But even cross industry hit pieces can be useful. This one is just the Federal courthouse beat.
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Re: Corporate Malfeasance

Post by PetePierson »

Look at this, my favorite lil' Comrade is going viral:

emby
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Re: Corporate Malfeasance

Post by emby »

It's fun when conservatives become class conscious.
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Re: Corporate Malfeasance

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https://prospect.org/economy/2024-06-14 ... ing-beast/

That is a lengthy, but very good article on The American Prospect on the inadequacy of the Federal Reserve to control inflation, the present state of corporate price fixing, and what the government and congress are and could be doing about it.

It's about a ten minute read.

It also supports my first indisputable law of economics that inflation can only occur when a corporation raises its prices.
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The Outsider
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Re: Corporate Malfeasance

Post by The Outsider »

emby wrote: Fri Jun 14, 2024 11:06 am https://prospect.org/economy/2024-06-14 ... ing-beast/

That is a lengthy, but very good article on The American Prospect on the inadequacy of the Federal Reserve to control inflation, the present state of corporate price fixing, and what the government and congress are and could be doing about it.

It's about a ten minute read.

It also supports my first indisputable law of economics that inflation can only occur when a corporation raises its prices.
My first indisputable law of economics is: Welcome to human economics, where this shit is entirely made up and none of it matters because it only functions because we believe it does.

Money is inherently worthless. The only way to really have an economic system that makes sense is by trading labor for material goods and services directly because there can be a tangible value assigned to labor, material goods, and services. Our current system, particularly the speculative side of things (i.e. Wall Street) is a fucking farce.
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