Unnecessary repairs

This post, too, was languishing in “Drafts.”  But it, too, is important.

What if you cheat your customers by billing them for work you never did, and then try to hide the evidence?  Your shareholders pay.

“Caterpillar Pleads Guilty in Railcar Case,” The Wall Street Journal, December 8, 2017 B3.  Five million dollar criminal fine and $20 million in restitution after subsidiary cheats customers and tosses the evidence overboard.

How much damage to the parent company’s reputation?  Which employees will take the hit?  The same ones who got bonuses?

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Filed under Board, Compliance, Compliance, Controls, Corporation, Duty, Employees, Governance, Internal controls, Oversight

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