Letters to the Editor: If ‘corporations are people,' does criminally charged Phillips 66 face jail time? [Los Angeles Times (CA)]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Los Angeles Times
Right. Reading these quotes about the felony criminal charges against Phillips 66, we all remember Mitt Romney lecturing to us unwashed ignoramuses that “corporations are people.” Here's my prediction: Phillips 66 will be convicted of some combination of misdemeanors and felonies. It'll be commanded to pay fines equal to about two minutes of profit, and that'll be the end of it. The executives in the C-suite will remain there, because no individual will be convicted of anything, because the “corporation” kind of person made the decisions, not a “person” kind of person. Now, I could be wrong. Phillips 66 may only be ordered to pay the paltry fine, with the proviso that it's not accepting blame (simply writing a check to escape the hassle and expense of a trial — another business expense). You know, the kind of thing people-people get to do every day. Predictably, it'll just be another example of the truth: Corporations are definitely not people. Barry Davis, Agoura Hills T
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PSX
Earnings
- 10/29/24 - Miss
PSX
Sec Filings
- 11/4/24 - Form 4
- 10/29/24 - Form 10-Q
- 10/29/24 - Form 8-K
- PSX's page on the SEC website