In Reply to: Enron, WorldCom, Xerox ...... IBM posted by GrumpyGuts on 30 June 2002 at 06:35:38:
: So, quite rightly the world including Mr Bush has taken exception to corporations misstating what should be under which column in their accounts. Evidently they have discovered that this leads to misleading shareholders and enables greedy directors to be paid for achieving performances they haven't achieved. Soon employees and co-directors that stood by and didn't do anything will also be held accountable, perhaps even being sent to prison for not blowing the whistle.
: When, I wonder will IBM's name be added to that list?
Agreed !!
: I can't see how inflating revenue by treating the pension scheme members as though they were customers providing revenue and then paying the directors as though they had truly grown the business can be right. And how can discharging the companies obligations to it's current employees by stealing from the promised benefits of past embers be seen as just and correct? And what of the so-called trustees who stood by and not only didn't object but actually conspired with the company to facilitate the scam?
: Let's see how long justice takes.