Guest bulm5 Posted June 28, 2002 Share Posted June 28, 2002 What the hell is happening to corporate america. Ist it was ENron, Adelphia and now maybe the biggest or is it????Worldcom. Link to comment Share on other sites More sharing options...
ErikW Posted June 28, 2002 Share Posted June 28, 2002 Temporarily out-of-office socialist party A will blame the temporarily in-office socialist party B administration, for creating an atmosphere of greed, yada, yada, blah, blah... Link to comment Share on other sites More sharing options...
jhgtyre Posted June 28, 2002 Share Posted June 28, 2002 The phrase "common ____ practice" is the mantra of all the evil crap that these people perpetrate. Just insert whatever practice or business type in the blank. I had a bank teller explain to me that charging me to cash a check drawn on her bank was a "common banking practice." It is the "well everbody does it so it must be okay" mentallity that most of us should have outgrown that these clowns use to run their businesses! AAAAAAAAAAAHHHHHHHHHHHHH! Okay, I'm all better now. -jhgtyre Link to comment Share on other sites More sharing options...
EricW Posted June 28, 2002 Author Share Posted June 28, 2002 Two words: Stock Options It used to be that CEO's were hired to actually RUN a company. With the options craze the goal is to: get into a company, get ungodly amounts of options in lieu of a salary, shuck and jive investors and the stock market to generate a stock price bubble, then take the money and run. It's too lucrative to do anything else. A CEO's ONLY objective any more is to boost the stock price. Not develop a product. Not to produce attractive dividends. Not to run a stable enterprise. They now serve one master alone: Greed. The era of *managers* and *engineers* is dead and gone. Now the leaders of industry are just a bunch of pirates. The financial improprieties are just the tip of the iceberg. Another way these yahoos have been improving the financials is through cutting R&D and fundamental technology development. Wonder why you haven't seen anything really new and revolutionary in technology in 5 to 10 years? Simple, no one is developing anything new. (I'm talking totally new here, not just a faster CPU or cheaper memory.) It's all about refining and regurgitating the same crap that was developed 20 to 30 years ago. The job losses and financial losses will pale in comparison to our loss in technological leadership. If this keeps up, the U.S. will be looking to India and China as the new industrial/technological powerhouses of the 21st century. E Link to comment Share on other sites More sharing options...
Steve Anderson Posted June 28, 2002 Share Posted June 28, 2002 I heard on Rush that Clinton helped make executive payments over 1 million non-deductible as a business expense. This was said to have exaggerated the optioning of stock as compensation to avoid the tax penalty...Interesting. Link to comment Share on other sites More sharing options...
Guest bulm5 Posted June 29, 2002 Share Posted June 29, 2002 The sad thing is, like in ENRON, the people that got screwed are the regular employees. Hope the people responsible in this debacle go to Jail. Link to comment Share on other sites More sharing options...
Nolan Posted June 29, 2002 Share Posted June 29, 2002 An interesting common theme seems to be the accounting firm of Arthur Anderson. If you own stock in any company that has Anderson for an auditing firm sell fast! Link to comment Share on other sites More sharing options...
gm iprod Posted June 29, 2002 Share Posted June 29, 2002 If omly you could trust the regulators to get to the truth. But I expect that will be a snowy day in purgatory. Link to comment Share on other sites More sharing options...
EricW Posted November 11, 2002 Author Share Posted November 11, 2002 So much for living a charmed life.... My telephone just got slammed by WorldCom - ironically/sinisterly enough between divisions that WorldCom owns... Nice bunch of folks - and I mean that in the most drippingly sarcastic way I can muster. Because of a paperwork snafu (NOT my fault or doing), my long distance service was rerouted from my chosen carrier, TTI (a division of WorldCom) to another carrier, BBCI (also a division of WorldCom). I was then charged WorldCom's "casusal" long distance rate, which as a mere 20X+ difference in price. Rates start at $1.20/minute....nice huh? My long distance bill jumped from $40/month to $550/month. (Who says going "casual" is less expensive?) Several calls to WorldCom got me nowhere. All I got was: "Ha Ha!! We tricked you!! Pay up or we'll trash your credit rating..." Then, out of spite, they cut off my long distance when I told them I had no intention of paying ransom. Amazingly, every party I'm dealing with is a division of WorldCom, but none of them can talk to one another, or so they claim. Organized crime isn't on the decline because of vigorous law enforcement. It's on the decline because it's so much more profitable to work in the corporate world and rip people off under the legally insulated status of a corporation. These people disgust me. (And no, I have no intentions of ever paying this phone bill.) E Link to comment Share on other sites More sharing options...
Shipster Posted November 11, 2002 Share Posted November 11, 2002 EricW If they do not have a written or verbal verification of the switch, they're screwed, and if they try and trash your credit report with out this evidence you will have grounds for a lawsuit. Find a good lawyer if they refuse to comply and plan on a new open blaster. You do have rights. Link to comment Share on other sites More sharing options...
EricW Posted November 11, 2002 Author Share Posted November 11, 2002 What really twists my banana about the whole deal is that this is really the outcome of the New America. In America today, only two things matter: being rich and being famous. It doesn't make a damn bit of difference how you get either, just so long as you do. Kill 50 people with a machete? Who cares? You're famous. Rape and pillage a company to the point where 30,000 people are thrown out of work. Who cares? You got yours. F 'em. If they come after you, they won't get past the electric fence and the attack dogs. The worst of it is that this mentality is now totally ingrained in our culture. No matter how patently wrong any corporate behavior is, legions of suit-wearing corporate brown-nosers will find an excuse for it and say, "Oh, that's really OK, because..." Why? They're all playing the corporate lottery. They know all they have to do is hang out long enough and they'll get their turn to embezzle funds or rape a hapless customer. Or...they'll be in position to where the Big Dogs will pay them off in exchange for their silence while the big shots roll money out the back door in wheelbarrows. But, you have to play to win. So, the first thing that goes is morality and ethics. It doesn't work unless everyone is either so fearful or so greedy that they look the other way. And in the end, what does the phone company care? So they piss me off? So what? There's 5 billion sheep to fleece and they've only got to 300 million of them so far. Excuse me. I see a little kid with a lollipop walking down the street. ...looks mighty tasty.... (Edited by EricW at 2:48 pm on Nov. 11, 2002) Link to comment Share on other sites More sharing options...
Flexmoney Posted November 12, 2002 Share Posted November 12, 2002 E, You shouldn't eat little children. Link to comment Share on other sites More sharing options...
EricW Posted November 12, 2002 Author Share Posted November 12, 2002 But they taste like chicken... Link to comment Share on other sites More sharing options...
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