'How Is That Stakeholder Capitalism Working Out For You?': John Kennedy Grills J&J Lawyer
ฝัง
- เผยแพร่เมื่อ 18 ก.ย. 2023
- At today's Senate Judiciary Committee hearing, Sen. John Kennedy (R-LA) grilled Erik Haas, Worldwide Vice President of Litigation at Johnson & Johnson.
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
account.forbes.com/membership...
Stay Connected
Forbes on Facebook: forbes
Forbes Video on Twitter: / forbes
Forbes Video on Instagram: / forbes
More From Forbes: forbes.com
“I’m learning on this issue” and then Sen Kennedy shows he knows exactly what this issue is about and these people are corrupt. They are allowed to be corrupt and deceitful by our own laws.
Right! It’s like a toddler that pushes the limit and is never reprimanded and over time this toddler becomes a monster created by the aloof, unalarmed, and neglectful parent.
Because of the fraternal infiltration of our government over the past century
Thank you senator .
I say let J&J be held accountable for their actions to the fullest extent. If they loose everything than so be it.
Agreed.
It’s Not a matter of IF, bc they have so much money to Bury US Even Before Trial, after Numerous & DOCUMENTED Crimes Against Humanity Not to mention All they’ve bounced buying Our Criminal Representatives. It’s SHOULD AND WHEN they lose Everything!!!🤬
🙏⚖️🙏🇺🇸🙏
BlackRock would never let j and j go under.
Too big to fail has always been too big to sustain.
Sen. Kennedy always reminds me of Columbo.
Love his cross xam.
... 🤔.. oh... ONE more thing..
😆
Kennedy is a savage❤ BOOM😂
I don't think any of us should trust any company that will fight in court to continue selling their drugs, despite there being legitimate safety concerns, or evidence that the drugs are ineffective. Nor should it be acceptable for them to pay hush money/out of court settlements with NDAs to avoid bad publicity. They should not be in the business of selling pharmaceutical goods, which we trust to be safe and helpful in treatment of any conditions let alone serious ailments, when their main concern is profit and protecting their brands image, rather than protecting their consumers health. Imagine knowingly selling harmful substances to people who believe it to be their lifeline..... this happens all the time. They're sick
The guy from Johnson & Johnson is full of S
Full of covid
He's fullachit 🙂
Erik Haas is the worst.
Whenever someone repeats your question back to 9/10 the next thing that comes out of their mouth will be obfuscation or outright lies
You can always count on John Kennedy to know his stuff before questioning anyone in these hearings- he knows how to question those people that are trying to hide information- I admire Kennedy’s approach and tactics to suss out the truth from the bs 👍🏻👍🏻
I work for Scott paper company from 1978 2 1996 and in those years j an j were one of our buyers of sanitary liners and hospital disposal sheets and new back then that it was causing cancer so there
Can we agree that in order for corporations to be held accountable should they not be able to spin off a shell company and file bankruptcy from these lawsuits? It’ll be difficult because corporations like J&J donate vast amounts to campaigns. So my question is who do the politicians work for? As I recall we are a republic governed by the people. So let’s do what’s in the best interests of the people and citizens of our country and not corporations or politicians.
Especially when they pledge 50 billion to attack Law Enforcement with Kaepernick!!!
Your facts are quiet wrong, leading your to poor reasoning.
Under current law no one can avoid liability w/ a spinoff.
J&J corporation & subsidiaries gave $0 to individual campaigns in 2020. It is prohibited by law for corporations to donate to candidate campaigns.
J&J gave ~$60k each to the Dem/Rep national campaign committees, which is allowed.
Corporations can give unlimited amounts to PACs, but J&J gave $0 to PACs in 2020.
J&J does spend ~$5 to $7 million per year on lobbyists. That doesn't imply any sleazy behavior.
The figures are all publicly available.
How about making sure stakeholders are held accountable over the leaders of companies trying to do the right thing 😂
Who implemented these laws allowing them? FDR?
@@ValidatingUsername Damn that’s a good idea
Boy, I wish I could spin off my debt to some shell company and then have that company declare bankruptcy. I find how compassionate our laws are to companies but not to actual people.
"How is [ESG] working for Johnson & Johnson? [Let me instead tell you what I think of it personally.]"
Most of the lawsuits are likely frivolous, but so is a bankruptcy claim if you have been dumping money in to politics instead of the company.
Except 42 of those cases where J&J was found responsible. I don’t doubt the validity of frivolous lawsuits. However there were plenty that were not frivolous. One of those 42 guilty findings ended in billions of dollars J&J had to pay. They didn’t want to lose any more money, they created fake corporations and placed the lawsuits on the fake corp. then filed bankruptcy under the fake company. That is evading responsibility. Instead of going through each case and they gave the lawyer power to do it. They pulled a scam. Unless your colin kapernick they don’t want to give you millions or billions of dollars even if they screwed up.
One question that needs to be asked is did the stakeholders have any say in the donations that was made cause thats money out of their pockets their wanting you to codify what they did as legal
thats exactly what those pricks are seeking... gotta love Senator Kennedy for calling out their bs.
That might be a difficult question to ask if their is now hard proof because they might not want to go along and claim the contrary.
This is why I never when to Law school for corporate law. I would have given J&J the same advice. Spin off the baby powder off into a separate company, and declare bankruptcy,and walk away. I decided to have a Soul, instead.😔😔😔
When you look at those who are being held accountable for their corruption their faces don't look right!! They are crooks & they are corrupt & they know it! The real question is why aren't they in jail.
First they sell the symptoms, then they sell the pain management.
They never sell a cure, because a patient cured is a client lost.
"Golden Parachutes" for company executives AND companies should be outlawed. No company is too big (important) to fail.
We paid an awful lot of $ a while back to prevent whatever banks from failing bc the government said, “they are too big to fail”.
Big companies shouldn't be able to use a secondary company to file bankruptcies on company law settlements. That gives those big companies a way out of paying those big settlements🤬🤬🤬🤬🤬
Maybe they should make products that don't harm anyone and land them in court. How about them apples?
I'm just getting into these Senator Kennedy videos but I gotta say...he is very knowledgeable and commands the facts.
These witnesses are just being slayed.
Sen. Kennedy should be made into a comic super hero...hes awesome.
Erik Haas is a cocky guy with a lot of blood on his hands! SETTLE THE DAMN CASE!
He a liar
Time for some bud lite treatment! BOYCOTT!
Corpocracy is the goal.
Can I run up the balances on my credit card and transfer the debt responsibility to my cat? Here be opporunity.
John Kennedy for Prez...a REAL Kennedy
KENNEDY 2024 !
It’s simple, when a company is caught doing wrong they should be made to pay and not be allowed to file bankruptcy. Plain and simple.
Let's see how many ppl disappear till you get it right and delivery at my door
We need to go to Washington as many people as would go and try to help stop what's happening.
Go get em John!🇬🇧
Stakeholder capitalism sounds like communism on steroids. No thanks.
I didn't know Johnson & Johnson backed Collin Kaepernek with dividends.
Ohio gave us our presidents and Astronauts and the great Jim Jordan
Some days I wish could look someone straight in the eye and lie so confidently but it must come back and get you
One would order is coming.
If there's anything people will take away with them from this period of history, it will be the ability to spot a lie.
Politicians - all talk, no action 💯
Have seen the figures on money spent by the Congress? Thirty Trillion in Debt. Politicians certainly do act.
Time to sell Johnson and Johnson
Get all these senile Congress members and senators out of office they are too old to perform. VC Nao men can't even pronounce a whole sentence without having to get old distorted and confused.
Ask them about baby powder causing cervical cancer. J&J won't own up to those stakeholders other than the cancer wards. Not really living up to their credi
Crooked! J& j is not a nice company.
Settle people out of court, today, now MVE309 iowa not yours ate
My best friend died because of J&J. Their baby powder gave him cancer and I hope that this attorney and J&J rot in hell!
FLUSH THE T U R D
Adam Smith's vision of capitalism was based on the idea of free markets and limited government intervention. He believed that when individuals were free to pursue their own self-interest, it would lead to the greatest good for society as a whole.
In his book The Wealth of Nations, Smith argued that the invisible hand of the market would lead to competition and innovation, which would benefit everyone. He also believed that government intervention was often harmful to the economy, and that it should be limited to protecting property rights and enforcing contracts.
The current form of capitalism in the US, on the other hand, is much more concentrated and regulated than Smith envisioned. A small number of corporations control a large share of the economy, and the government often intervenes to protect their interests.
For example, the US government provides billions of dollars in subsidies to corporations each year. This gives them an unfair advantage over smaller businesses and makes it more difficult for new businesses to enter the market.
The US government also has a number of regulations that favor large corporations over small businesses. For example, the Jones Act requires that all goods shipped between US ports be transported on US-flagged ships. This law raises the cost of shipping for small businesses and makes it more difficult for them to compete.
The concentration of wealth and power in the hands of a few corporations has led to a number of problems in the US economy, including:
Wage stagnation: Real wages have been stagnant for decades, while corporate profits have soared. This is because corporations have been able to use their market power to suppress wages.
Inequality: The gap between the rich and the poor has been widening in recent decades. This is because corporations have been able to extract more wealth from the economy, while workers have seen their wages stagnate.
Monopoly power: A small number of corporations control a large share of the economy in many industries. This gives them the power to raise prices and stifle innovation.
Adam Smith would likely be appalled by the current state of capitalism in the US. He believed that competition was essential to a healthy economy, and he would have seen the concentration of wealth and power in the hands of a few corporations as a threat to competition.
Here are some specific examples from The Wealth of Nations that illustrate Adam Smith's vision of capitalism:
Smith argued that the government should not interfere in the free market, except to protect property rights and enforce contracts. He believed that the government should not subsidize businesses or try to pick winners and losers in the market.
Smith believed that competition was essential to a healthy economy. He argued that competition would lead to lower prices, higher quality goods and services, and innovation.
Smith was a strong advocate for free trade. He believed that countries should be able to trade goods and services freely with each other.
The current form of capitalism in the US is in many ways a departure from Adam Smith's vision. The government provides billions of dollars in subsidies to corporations, regulates the economy in favor of large corporations, and allows a small number of corporations to control a large share of the economy in many industries.
It is crucial to recognize that the intrinsic nature of hierarchical systems does not automatically guarantee their inherent benevolence. In fact, these structures can be regarded as malevolent or even fiendish. Capitalism, on the other hand, can be perceived as an ideology influenced by militaristic principles, which prioritizes profit maximization as the zenithal aim while justifying collateral loss of life as an unavoidable outcome in business pursuits.
The individuals who have the potential to misrepresent socialism are currently wielding control in the realm of capitalism. The crux of the matter revolves not around socialism, but rather around specific actors and their deeds. Simultaneously, the tenacity of humanity challenges the idea that competition fueled evolution. In truth, competition appears more as a byproduct of civilization than an innate characteristic of human essence.
It is imperative to note that capitalism can perpetuate and intensify avaricious behavioral tendencies and that an unquestioning belief in its faultlessness could denote a dogmatic affinity. Indeed, one can find striking resemblances between capitalism and religious organizations. Wealthy individuals frequently depend on less advantaged members of society in order to exploit susceptible populations; this dependency raises ethical questions regarding accountability and whether collective action is necessary to intervene in these abusive practices.
Affluent individuals are often shielded from hardships endured by those belonging to lower socioeconomic groups. When confronted with financial adversity, they might be lifted up by a bespoke social safety net designed exclusively for their echelon. It is important to emphasize that wealth accumulation often arises from inheritance or fortuitous circumstances rather than pure meritocracy alone; indeed, good fortune has a pivotal role in deciding wealth distribution outcomes.
Both communism and capitalism (along with feudalism) display inherent imperfections marked by a fortunate minority exerting control over the majority. The assumption that one's prosperity relies solely on hard work disregards the ubiquitous influence of luck in determining socioeconomic standing.
Contemporary society reflects consumerism more accurately than capitalism, as initially envisioned by Adam Smith in his monumental publication, "The Wealth of Nations." Today's economic framework mirrors communism under a different guise, capitalizing on the disadvantaged through unique methods.
One might contemplate how capitalism coalesces with the teachings of Jesus Christ and religious principles. In essence, economic systems consistently fall short in addressing the varied requirements of human communities. A society devoid of currency can still survive, liberated from the materialistic competition epitomized by rampant consumerism.
Lastly, scriptural excerpts from the Gospel (Matthew 19:21, Luke 12:33, Luke 18:22, Luke 14:33, Matthew 6:19-21, and Mark 10:21) underscore the significance of renouncing material possessions and prioritizing spiritual virtues. By engaging readers through positive reinforcement and appealing to their higher sensibilities, we can inspire change in behavior that transcends engrained socio-economic paradigms.
If we could do away with paid lobbyists and our representitives not getting huge donations from these big corporations and working for the American people and not for special interest groups our republic might stand a chance to survive.
Their subsidiary Janssen involved with Veteran's Exploitation Industrial Complex. I understand & respect that gentlemans position & responsibility. Yes, they should have that funding allotted to keep our of trouble when they abuse & violate. They are named on a lawsuit & more ensuing involving Veteran's Administration & NGO personnel medical facilities, pharmaceutical profiteers with malevolence, harm, & atrocity happening.
Interesting. Will effect many in the future.
benifit the country! Pay down the debt as settlement.
That congressman is barely alive.
😮😮😢
Everyone here seems to be making some pretty good comments, but I couldn't find a single comment calling out the obvious fraud of "stakeholders".. except one that got it wrong... stakeholders as far as these corporations are concerned are only shell people, not real people and they decide what is in their interest.. not the actual persons.. but the real issue is that the folks retirement funds are being used for this non sense, and the liability, once realized , will destroy every retirement portfolio blackrock, statestreet and others have.. ESG must be abandoned and OUTLAWED.
Ok.
I’m mostly republican, but unions are the the most capitalist equivalent thing we have
I have the back up from Iran , MMU
50 Billion, omg
Just payoffs for Political Protection ? Think of a transfer payment to the Left ? Consumer Pays - Kind of a circular fund raiser ? Just Business mixing in Politics ? 🤮
The ask: let us screw the plaintiffs and keep our money when we cause harm to others.
sure comrade
I love how Kennedy plays the role of the inept investigator. 😂 It's like watching Columbo.
😂
Senator , now you know why Corporate America is in the Dumps, Incredible Accounting BS !
There was a time when corporate entities could only operate within a single industry sector and could not own any interest in another company. We should return to this model.
Furthermore, businesses which operate as sole proprietorships or general partnerships do not have limitations on liabilities. To be fair and just, neither should corporations. The shareholders of corporations should be held fully liable for the wrongful acts of the businesses they have ownership interest in.
Why are these congressman so old?
How did abestos get into body powder.
Kennedy is smarter than the panel he is questioning……..
Kennedy is a national treasure.
Don't do it USA needs that money
😂😅😂
John Kennedy come to Ohio be our senator we need intelligence not stupidity
Ok, you are fiund liable. You establish a new company. Assign the debt to a newly formed company and then bankrupt it! Screwing the plaintiff who was validated by the courts. Screwed your stakeholders unless they are newsworthy.
0
😂love Kennedy
Sen. Dick Dirtbag coming in at the end to save the criminal, as usual.
1:10 "a commitment to change": to change the economy for even more upward transfer of wealth
Looks like trans women forgot to brush his hair today.
Read “Woke, Inc” by Vivek Ramaswamy for a more accurate and intensive description of Stakeholder Capitalism.
The Indian man has a backbone & decisiveness...worthy of being elected❤❤❤
Which Indian man?
you allow soros to have money but not me what the fuck
Capitalism is government preference for capital over land and labor in the means of production. When the government charters corporations it gives preference for capital. In a free market the government doesn’t charter corporations therefore there are no corporations in a free market.
Where does capital come from?
Capitalism is when you rise and fall by your own merit, free markets. If we did have Capitalism there would be no bailouts, subsidies, quantitative easing 1,2,3, qe squared. This country has not really had Capitalism in decades.
What is the definition of Fascism?
Trump should them how to do it so why aren’t you asking trump
Aside from this testimony, Speaking of Johnson & Johnson., I have to comment on TH-cam's use of the same commercials over and over again. It's like every commercial I see is the same one, and they are the worst! By the way, TH-cam, I will never buy one of these products that you try to push on me. I just assume you do it because you don't like conservative viewpoints. Well I don't like your liberal ones.