McKinsey to pay $573M to settle claims over opioid crisis role: source
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Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#2This is a significant hit for a private company. If McK has 2,000 partners, that’s almost $300k per partner. (Yes - they are very well compensated, and this is probably just a fraction of their pension plan)
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#3This is a significant hit for a private company. If McK has 2,000 partners, that’s almost $300k per partner. (Yes - they are very well compensated, and this is probably just a fraction of their pension plan)
Well, considering the damage they caused this is nothing. They advised on /got and got paid for how to "turbocharge" opioid sales and that tuned out to be an illegal and immoral thing.
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#4Too bad they can't be sued for ruining countless businesses with mindless self-serving "advice" meant to do nothing more than get their contracts re-upped.
The whole business is a scam built around sending in some 26 year-old with an Ivy League degree and $100 haircut to regurgitate snippets from articles in HBR.
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#5This is a significant hit for a private company. If McK has 2,000 partners, that’s almost $300k per partner. (Yes - they are very well compensated, and this is probably just a fraction of their pension plan)
It's peanuts. This likely will be covered by some form of insurance, and very little will change.
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#6I hope they also fire everyone involved and substract the money directly from each partner compensation. That will maybe teach a lesson to a whole generation.
Okay, naive, wishful thinking.
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#7Too bad they can't be sued for ruining countless businesses with mindless self-serving "advice" meant to do nothing more than get their contracts re-upped. The whole business is a scam built around sending in some 26 year-old with an Ivy League degree and $100 haircut to regurgitate snippets from articles in HBR.
I know it's fashionable to hate on MBAs, but I am not entirely convinced engineers are any better equipped with skills such as: requirements gathering, scoping, presenting, project management, competitive research, financial modeling, memo writing, and strategic planning. I don't believe these are truly vacuous activities, and - loathe as I am to say - MBAs may be the best trained to do this.
(Disclosure: I do not have an MBA)
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#8McKinsey also implicitly involved in the whole Valeant debacle. These guys love extracting, no extorting, “value” from thin air.
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#9McKinsey or its partners have been directly involved in Enron, Valeant, and now an opioid crisis that's claimed thousands (if not millions of lives).
"In for a penny, in for a pound" - this should be McKinsey's new corporate slogan.
Valeant article: https://www.ft.com/content/0bb37fd2-ef63-11e5-aff5-19b4e2536...
Enron article: https://www.theguardian.com/business/2002/mar/24/enron.theob...
Re: McKinsey to pay $573M to settle claims over opioid crisis role: source
#10The absolutely most fascinating part of this is learning how McKinsey has long argued that making recommendations that businesses may or may not act on does not create legal liability (until this).
I’m trying to see that argument applied in any other instance and it becomes totally ridiculous.
“You see, your honor, I merely suggested to my client that he kill his neighbor in order to take his land, I didn’t think he’d actually DO it!”