How Businesses Survive Felony Convictions Without Lasting Damage
Digest
The podcast begins with a report on Israel's strike in Beirut, targeting a Hezbollah commander after a deadly attack in the Golan Heights. The strike comes amid fears of a wider war between Israel and Hezbollah. The US has agreed to arm dozens of Ukraine-bound F-16 jet fighters with American-made missiles and other advanced weapons, which are expected to provide Ukraine with a tactical advantage in its war against Russia. The new leader of the Secret Service told Congress he was ashamed of how easily a gunman was able to shoot at former President Donald Trump during a recent rally. The agency has taken steps to enhance security for its protecties, including by expanding the use of drones. The podcast then discusses how corporate criminal convictions are not as impactful as they used to be, with big companies like Boeing able to plead guilty to crimes and emerge without permanent scars. The size of the company and its importance to its industry play a significant role in the consequences of a guilty plea. Tesla is recalling more than 1.8 million of its electric vehicles in the US due to a software issue that could result in the hood fully opening and obstructing the driver's view. The recall comes after a series of potential safety issues with Tesla vehicles in recent years. Finally, the podcast reports on the continued fall of big tech stocks, with the tech-heavy NASDAQ composite dropping 1.3%, and the S&P 500 falling 0.5%. Meanwhile, the Dow Jones industrial average rose 0.5%.
Outlines
International News and Security Concerns
This chapter covers Israel's strike on a Hezbollah commander in Beirut, the US arming Ukraine with F-16s, and the Secret Service's response to a security breach at a Trump rally.
Corporate Crime and Consequences
This chapter explores the impact of corporate criminal convictions, focusing on how big businesses like Boeing can plead guilty to crimes and emerge without significant consequences.
Tesla Recall and Tech Stock Performance
This chapter discusses Tesla's recall of 1.8 million electric vehicles due to a software issue and the continued fall of big tech stocks.
Keywords
Hezbollah
Hezbollah is a Lebanese Shia Islamist political party and militant group. It is considered a terrorist organization by the United States and Israel. Hezbollah has been involved in numerous conflicts with Israel, including the 2006 Lebanon War.
F-16
The F-16 Fighting Falcon is a single-engine supersonic multirole fighter aircraft. It is one of the most widely used fighter jets in the world, with over 4,500 aircraft produced. The F-16 is known for its maneuverability, speed, and versatility.
Secret Service
The United States Secret Service is a federal law enforcement agency responsible for protecting the President of the United States, the Vice President, their families, and other high-ranking officials. The Secret Service also investigates financial crimes, such as counterfeiting and identity theft.
Boeing
Boeing is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and weapons worldwide. Boeing is one of the largest aerospace companies in the world.
Tesla
Tesla, Inc. is an American electric vehicle and clean energy company. It designs, develops, manufactures, and sells electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services.
Corporate Crime
Corporate crime refers to illegal acts committed by corporations or their employees, often for financial gain or to benefit the company.
Tech Stocks
Tech stocks are shares of publicly traded companies in the technology sector, including software, hardware, internet, and telecommunications.
Q&A
What was the reason for Israel's strike in Beirut?
Israel launched the strike in Beirut, targeting a Hezbollah commander who they believe was responsible for a deadly attack in the Golan Heights that killed 12 children.
What are the potential consequences of the US arming Ukraine with F-16s?
The F-16s are expected to provide Ukraine with a tactical advantage in its war against Russia, but they also pose a risk of being shot down by Russian aircraft and surface-to-air missiles.
What steps has the Secret Service taken to improve security after the shooting incident at a Trump rally?
The Secret Service has taken steps to enhance security for its protecties, including by expanding the use of drones, increasing the use of Special agents, and improving communication between agents and local law enforcement.
How are big businesses able to emerge unscathed from felony convictions?
Big companies can plead guilty to crimes and emerge without permanent scars because the size of the company and its importance to its industry play a significant role in the consequences of a guilty plea.
What is the software issue that led to Tesla's recall of 1.8 million electric vehicles?
The software issue could result in the hood fully opening and obstructing the driver's view. The recall comes after a series of potential safety issues with Tesla vehicles in recent years.
Show Notes
P.M. Edition for July 30. For big companies, corporate felony convictions aren’t the black mark that they used to be. WSJ reporter Dave Michaels explains how many big businesses plead guilty to crimes and emerge unscathed. And Tesla recalls more than 1.8 million vehicles in the U.S. Plus, Israel launches a strike in Beirut targeting a Hezbollah commander, after Saturday’s deadly attack in the Golan Heights. Francesca Fontana hosts.
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