Exxion Mobil owes money for Valdez (Iraq, legal, death, companies)
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The federal jury in Alaska awarded $5 Billion in 1994 but it’s now being decided again in the appeals court.
Didn’t Exxon make $5 Billion in profit just this last quarter? Pay it and go away Exxon. I didn’t buy any more of your gas or oil after you failed the citizens back in 1994. I cut up the credit card and paid you off ~ never again to buy your products or service. Oh I forgot you did have pay your retired CEO that just left the company $450 MILLION in a retirement bonus.
The federal jury in Alaska awarded $5 Billion in 1994 but it’s now being decided again in the appeals court.
Didn’t Exxon make $5 Billion in profit just this last quarter? Pay it and go away Exxon. I didn’t buy any more of your gas or oil after you failed the citizens back in 1994. I cut up the credit card and paid you off ~ never again to buy your products or service. Oh I forgot you did have pay your retired CEO that just left the company $450 MILLION in a retirement bonus.
The fact that the company made billions last quarter does not mean they should just roll over and pay a judgment. Per the news story, they already have reduced the awared from $5B to $2.5B. I dont blame them for fighting such a high judgment.
Actual costs, yes they absolutely should pay, but punitive damages are a punishment, and surely an argument can be made that $5B is excessive, especially since they have already paid Billions to clean up the mess.
Yep, they did invest billions in the clean up effort. Yes they should pay punitive damages. Yes they have the right to dispute how high that amount is, just like those suing have the right to dispute how low the amount might be.
Yep, they did invest billions in the clean up effort. Yes they should pay punitive damages. Yes they have the right to dispute how high that amount is, just like those suing have the right to dispute how low the amount might be.
$5B in damages makes great news coverage. Woo hoo, that big bad Exxon has to pay $5B in damages. It doesnt work in real life because it only gives them an incentive to appeal.
Look at it on a financial side.
Exxon will save $300M a year in interest alone to fight the judgement.
15 years saved = $4.5B in interest... more then the amount needed to clean up the mess to begin with.
Exxon will save, at this point $2.5B in lowered judgments..
Total saved by fighting $7B
Had the jury been more reasonable, maybe $1B, they probably would have just paid the fine but the jury had the same menality.. nail Exxon.. that thought process does not work in the courts...
Charge EXXON the interest as well as the fine. I would pull their corporate charted and confiscate all their assists including executive retirement payments and pensions but then I have no truce with monopoly. Oh and cost them any future profit in Iraq.
Charge EXXON the interest as well as the fine. I would pull their corporate charted and confiscate all their assists including executive retirement payments and pensions but then I have no truce with monopoly. Oh and cost them any future profit in Iraq.
So they should be punished for the use of the legal system as it was designed in the Constitution? That's what having them pay the interest would do. At what size or level of profit should companies not be allowed access to the legal system?
Punitive damages must be sufficiently calculated to be a DETERRENT to those who they are levied against.
Multi multi billion dollar corporations NEED $5 billion ++++ settlements for the punitive damages to be effective.
I guess I've not seen where lawsuits were designed to reward people punitive damages above and beyond the actual damages to deter future incidents.
So if I take my car to the car wash and they scratch it up, a new paint job is gonna cost me $900, I should expect them to pay me $1800 so they won't scratch someone elses car?
the good news is the supreme court has agreed to look at this case and the ridicules amount of punitive damages, they have a precedent for throwing these insane judgements out!
Charge EXXON the interest as well as the fine. I would pull their corporate charted and confiscate all their assists including executive retirement payments and pensions but then I have no truce with monopoly. Oh and cost them any future profit in Iraq.
Seize the assets, skip all legal proceedings, violate any number of laws and the constitution....you forgot executing them and working them to death in gulags.
If I wanted to read such hateful garbage I'd stop avoiding Anne Coulter's junk.
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