> Now it is even more so considering that shareholders, who lost nothing of real value
Your point is entirely correct, that people are more valuable than money.
The notion that time isn't a real value, is absurd, however. There are very few things worth more than time. Your time is what your money represents under most circumstances. Your savings - millions of people own shares in Boeing, directly or indirectly - is your productive time frozen for later use, when you're not as able to work (or simply want to retire regardless). It represents potentially years of your life. Years away from your loved ones; years of physically or mentally taxing labor; years of stress; and so on.
I figure if you made the mistake of buying Boeing, that's on you. I don't see why shareholders should be compensated at all. If companies do other kinds of stupid things, and they lose market value, shareholders aren't compensated for that. Why should this be any different?
Because failing to present material information accurately to current and prospective shareholders is securities fraud. That’s the allegation—not that they did something stupid, but that they misrepresented their risk exposure.
I’m of the opinion that they should pay for that. Who better to receive the proceeds than those who lost money investing based on flawed disclosures?
Shareholders lost money, which is definitely of value. Passengers lost their lives. Both of these things are true, and both of them are losses, even though one of those things is worse than the other.
> "Hey your kid dying might make you feel sad, but look what happened to my balance sheet! I'm the biggest victim here!"
No shareholder has said that, and I don't see anybody claiming that the shareholders are the biggest victims.
Which is... rather the point? Nobody would ever say that, so nobody should reasonably expect a larger compensation than the aggrieved families either.
I already get a migraine whenever I hear of monetary compensation for the loss of a human life, but this time it's just that much more twisted. Quoting myself here:
> If you insist on putting a monetary value on human life, at least make sure you got your numbers in order.
The answer to whether we should put a price tag on a human life is: We should not, but we have to. So let's at least get it right.
Straight line calculation(not what will really happen) shows $2.89MM per family. Not out of line with US-valued wrongful death losses. Given that many individuals are outside the US, this is probably a good place to be. Of course its no replacement for a lost one.
Headline is clickbait though. It's only one involved component.
Yes, investors also are owed something. This is similar to VW emissions cheating.
Price of settlement should be proportional to median income in the country. Some lives are just less valuable than others. For example, in Ethiopia the settlement should be 2% of the US one.
An for those flagging and downvoting: I hate you and most of the third world is eagerly awaiting your 20 trillion default.
From the article: " such claims are no guarantee of a windfall for victims’ families". Windfall? what a terrible way to frame it as winning the lottery.
You can always put a price on human lives, suffering etc. It's just not nice so we pretend that you can't and assume a posture of indignant outrage when anyone concedes that you can.
But what else are you meant to do, really, in this situation, where the only possible compensation is financial?
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[ 3.2 ms ] story [ 17.2 ms ] threadNow it is even more so considering that shareholders, who lost nothing of real value, are likely to receive to largest compensation.
"Hey your kid dying might make you feel sad, but look what happened to my balance sheet! I'm the biggest victim here!"
If you insist on putting a monetary value on human life, at least make sure you got your numbers in order.
Here's hoping some of those shareholders take that money and give it somewhere where it does good. Personally I couldn't keep it and live with myself.
Your point is entirely correct, that people are more valuable than money.
The notion that time isn't a real value, is absurd, however. There are very few things worth more than time. Your time is what your money represents under most circumstances. Your savings - millions of people own shares in Boeing, directly or indirectly - is your productive time frozen for later use, when you're not as able to work (or simply want to retire regardless). It represents potentially years of your life. Years away from your loved ones; years of physically or mentally taxing labor; years of stress; and so on.
I’m of the opinion that they should pay for that. Who better to receive the proceeds than those who lost money investing based on flawed disclosures?
> "Hey your kid dying might make you feel sad, but look what happened to my balance sheet! I'm the biggest victim here!"
No shareholder has said that, and I don't see anybody claiming that the shareholders are the biggest victims.
Which is... rather the point? Nobody would ever say that, so nobody should reasonably expect a larger compensation than the aggrieved families either.
I already get a migraine whenever I hear of monetary compensation for the loss of a human life, but this time it's just that much more twisted. Quoting myself here:
> If you insist on putting a monetary value on human life, at least make sure you got your numbers in order.
The answer to whether we should put a price tag on a human life is: We should not, but we have to. So let's at least get it right.
Headline is clickbait though. It's only one involved component.
Yes, investors also are owed something. This is similar to VW emissions cheating.
An for those flagging and downvoting: I hate you and most of the third world is eagerly awaiting your 20 trillion default.
Dang, find my IP and ban me for good!
But what else are you meant to do, really, in this situation, where the only possible compensation is financial?