|
|
in which I am shocked and stunned | 2002-07-22 - 9:51 p.m. My faith in the beneficencia of the free enterprise sistema has been shaken. Not that I ever really understood how a sistema based on self-interest is supposed to servir the common good. They are seriously out to hoodwink us, these corporaciones! As if I weren't already having serious misgivings about Wall Street with the Enron and WorldCom esc�ndalos, out comes the news that America Online has been known to pad its corporate bra. And I thought AOL was such an honest compa�ia; the ISP of the proletariat! But it's true -- hace dos a�os, before the WorldCom mierda hit the ventilador, la gente at AOL were pretending those free trial subscription disks of theirs were really worth algo. In corporate accounting lingo, they passed those worthless chihuahuas off as assets. As if the disks were somehow inspiring the mill�nes who used them as coasters to sign up as loyal, paying AOL customers. After thousands of investors were fooled, AOL eventualmente paid for their enga�os. Federal regulators called them on the alfombra and made them fork out a $3.5 million fine. Which must have been the equivalent of a $40.00 fix-it ticket as far as AOL was concerned. And probablemente worth every centavo for the compa�ia. Because for nearly two reckless, exhilarating a�os, AOL's creative accounting procedimientos allowed AOL to report profits when they should have shown losses. AOL's antics are just a drop in the bucket next to what they're hinting we'll see in the near future as more and more Wall Street darlings dare to bare their corporate chests. You know things are getting pretty bad when press clubs start asking executives from Philip Morris to share their views on ethics and corporate responsabilidad. �Sabes qu�? I am so heartsick and worried about all these corporate fechor�as that I am tempted to start hoarding my dinero -- all $245.32 of it -- under my mattress. But AOL knows where I live, and at this point, I wouldn't put it past them to steal it.
|
pride and prejudice - 2004-09-07
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Diary Rings |
|
member of the scorpio diaryring: next - prev - random - list - home - Diaryland member of the snobs diaryring: next - prev - random - list - home - Diaryland we live sweat but dream light years | d*land wage slaves: next - prev - random - list - home - Diaryland member of the love-is-pain diaryring: next - prev - random - list - home - I'll Dance on His Mutilated Corpse - Diaryland Living Abroad - the expat diaryring: next - prev - random - list - home - Diaryland |
