Goldpick said:As long as we have a capitalist society and value adding for shareholders, I doubt much will change - profit comes before anything else, including their social responsibility. With boards and CEO's looking to squeeze more profits from somewhere, it seems easier to hit those that can least afford to cop it vs truly adding value to the company by other means. Under pay your employees for a few years or pocket some of their super entitlements and that should add up to a tidy sum, not to mention the bonuses reaped for doing so - it's not like the penalties are enough to dissuade them from doing so, more than often just a drop in the ocean. You can always blame it on a computer error, always a handy way of deflecting direct responsibility.
What's the point of corporations rorting say 50 million from employees or suppliers over several years, and as a end result receiving a slap on the hand 7 million fine. It should have criminal repercussions attached to the financial penalty, and it should be strictly enforced to regain the trust and confidence of those affected.
Despite large corporations claiming that they adhere to their professed social responsibility, sadly I see little of it being practiced in recent years.
Fully agree, but the problem goes even further than big corporations. It goes into our whole lifestyle and legal systems. I am so against any form of "recreational drug use" it's not funny, make the crime not worth the risk, for drug traffickers, death, automatic.
For directors of companies like Coles, back date fines,ie: director/ceo for the last 5 years, pay back all of the salary/shares/bonuses + fine =
If they don't have cash, take assets including home and superanuation