The company is disappearing as a result of this, this is not “the cost of doing business”. It’s the corporate death penalty.
Also:
The settlement, which Purdue says could take effect as soon as Friday, calls for members of the Sackler family who own the company to contribute up to $7 billion over 15 years.
My 3-second search on the Sackler net worth puts them at $11 billion. It could be high or low. I don’t care. Now here’s the fun part. Put that $11 billion into an investment calculator with a 6% interested compounded annually for 15 years, and the result is…$26.3 billion. Take away that eye watering $7 billion they may finally have to pay and the poor, bereft Sacklers will have to figure out how they’re going to get by on only $19 billion instead of the $11 billion they have today.
And before you say, “Oh, how will the poor Sacklers survive if all their money is invested?” Well, if they only invested the $7 billion for those 15 years with the same values as above, it would give them a meager return of nearly $17 billion instead, leaving them with a mere $10 billion more to figure out how to get by on, plus whatever is left from theire $4 billion of spending money for those last 15 years.
How is this anything but a simple cost of doing business? And how is this anything but making the penalty for making billions on the lives and health of millions of people as painless as possible for the Sacklers?
Everyone who held a title from the SVP level and up, plus all the owners and board of directors from the moment Oxy was put on the market. These are people who could have stopped the problem, but each are complicit in making it worse for piles of money.
Also, each and every doctor who took a “commission” for prescribing Oxy.
Are you purposefully not quoting the most enraging part?
Early in Tuesday’s hearing, Arleo asked lawyers why Sackler family members were being allowed to pay over 15 years. She was told it was because they had to sell other businesses to secure the cash.
The judge offered a different reason. “They’d rather pay it from future money than pay it now,” she said.
The company is disappearing as a result of this, this is not “the cost of doing business”. It’s the corporate death penalty.
Also:
That is an eye watering sum of money.
My 3-second search on the Sackler net worth puts them at $11 billion. It could be high or low. I don’t care. Now here’s the fun part. Put that $11 billion into an investment calculator with a 6% interested compounded annually for 15 years, and the result is…$26.3 billion. Take away that eye watering $7 billion they may finally have to pay and the poor, bereft Sacklers will have to figure out how they’re going to get by on only $19 billion instead of the $11 billion they have today.
And before you say, “Oh, how will the poor Sacklers survive if all their money is invested?” Well, if they only invested the $7 billion for those 15 years with the same values as above, it would give them a meager return of nearly $17 billion instead, leaving them with a mere $10 billion more to figure out how to get by on, plus whatever is left from theire $4 billion of spending money for those last 15 years.
How is this anything but a simple cost of doing business? And how is this anything but making the penalty for making billions on the lives and health of millions of people as painless as possible for the Sacklers?
This leaves poor David with only $5B. Is he ok? Did somebody check on him? Should we start a crowd fund?
And still not the hangman’s noose.
Which is what the Sacklers deserve, not to ride off into the sunset on a pile of money.
“Corporate death penalty” is not that much of a punishment. Humans committed crimes, but will essentially only have their income reduced.
How about some sentencing for the people who made the decisions? They willingly did things knowing they would endanger, ruin and end lives.
If you endanger a life or cause someone to he killed, there’s specific crimes you’d get tried for.
I agree that jail time would be good to see, but with an organisation like this, it’s often hard to pin something on any one individual.
Everyone who held a title from the SVP level and up, plus all the owners and board of directors from the moment Oxy was put on the market. These are people who could have stopped the problem, but each are complicit in making it worse for piles of money.
Also, each and every doctor who took a “commission” for prescribing Oxy.
Are you purposefully not quoting the most enraging part?
It literally is the cost of doing business.