Chapter
The Cost of Non-Compliance in Business
48:14 - 54:28 (06:14)
Charles argues against businessmen refusing to comply with regulations and subsidies. He highlights a case where a company paid millions in fines and spent more than necessary by not complying with emissions requirements, and instead, choosing to break the law.
Clips
Koch Industries chose to lie about their emissions from a refinery in Corpus Christi rather than spend $7 million on a solution, resulting in devastating levels of benzene pollution.
48:14 - 50:35 (02:20)
Summary
Koch Industries chose to lie about their emissions from a refinery in Corpus Christi rather than spend $7 million on a solution, resulting in devastating levels of benzene pollution. They paid a total of $20 million in fees and cleanup efforts after being exposed.
ChapterThe Cost of Non-Compliance in Business
EpisodePart One: Charles Koch: The Luke Skywalker of Rich People
PodcastBehind the Bastards
Koch criticizes the cooperation between the government and businesses he describes as political capitalism.
50:35 - 53:25 (02:50)
Summary
Koch criticizes the cooperation between the government and businesses he describes as political capitalism. United Airlines' president voices his concern about continued government control and its negative impact on airline services.
ChapterThe Cost of Non-Compliance in Business
EpisodePart One: Charles Koch: The Luke Skywalker of Rich People
PodcastBehind the Bastards
The speaker believes that if airlines remained private, there would be higher quality service, without the need for dragging passengers out of flights due to overbooking.
53:25 - 54:28 (01:03)
Summary
The speaker believes that if airlines remained private, there would be higher quality service, without the need for dragging passengers out of flights due to overbooking. Charles argues that it is important for businessmen to refuse subsidies and regulations from the government to reduce taxes and government control.