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ManSandwichMayo
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Quote:
Originally Posted by Tex Arcana View Post
You really belive that, in this day-and-age?? They are going to lie thru their teeth about their true profit margins, and use anything they can to offset taxes, not to mention duping the rubes.

uh no. Ever heard of an independent auditor? PriceWaterhouseCoopers verifies their financials and they are at huge risk if they sign off on fraudulent financials.

You've never heard of SarbanesOxley either have you?
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Old 02-03-2007, 11:33 AM ManSandwichMayo is offline  
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Tex Arcana
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Quote:
Originally Posted by ManSandwichMayo View Post
uh no. Ever heard of an independent auditor? PriceWaterhouseCoopers verifies their financials and they are at huge risk if they sign off on fraudulent financials.

You've never heard of SarbanesOxley either have you?

I've heard of them both, and PWC has already been involved in a scandal regarding the Texas Lottery, where the results were being rigged, despite their "unbiased oversight"; other "accounting firms" have been involved, or indicted in similar nnery. So there is no reason to belive them or the one you mention either, because money is involved, and that will override any and all "morality".
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Old 02-03-2007, 01:14 PM Tex Arcana is offline  
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Quote:
Originally Posted by Tex Arcana View Post
I've heard of them both, and PWC has already been involved in a scandal regarding the Texas Lottery, where the results were being rigged, despite their "unbiased oversight"; other "accounting firms" have been involved, or indicted in similar nnery. So there is no reason to belive them or the one you mention either, because money is involved, and that will override any and all "morality".

Never heard of this scandal, however any large corporation publicly traded is being audited by any of the remaining big 4 accounting firms. If any of them are found liable for falsifying audited financial statements then they are incredibly liable. Look at Arthur Andersen which was one of the big 5 accounting firms, they went down with Enron. I believe and dont quote me on this that Sarbanes Oxley requires corporations to switch between accounting firms every few years and these firms compete against eachother for business.

You can say they are invovled together in scandals or what not, but these are just acusations and you bring no proof.
Old 02-03-2007, 04:37 PM ColdFlare is offline  
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#108  

N4rF
 
spending 370 to make 39 is misleading termage. Saying they used 370 billion of their profit to make more money, while still having a BUDGET SURPLUS OF 39 BILLION, is more accurate. Any company with such a large profit margin is automatically making too much fucking profit imo. If you look at their actual operating expenses vs their profit, you'll see that they used most of their budget to expand as opposed to cutting profit marginally to make the gas they refine cheaper to the rest of us.

Thats why most people, including me, can't understand the prices at the pump... its because they're setting the prices out of the barrel. If you wanna bitch about the prices in the barrel, you talk about opec. Price per barrel is used by big oil to manufacture a reason to raise the price at the pump.

If you don't believe me, I suggest you take a hard look at what the prices used to be, and how the price per barrel has changed. The pump price was inflated and then never brought back down, meanwhile the oil companies grow exponentially faster.
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Old 02-04-2007, 01:35 PM N4rF is offline  
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#109  

Postal Blowshit
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irrelevant thread.

politics shields and rewards these companies regardless of how much they're making. they make these profits, and our taxes go into their wallets too. our government does this. we put those people there. we clearly cannot stop this, or we would have already.
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Old 02-04-2007, 02:02 PM Postal Blowshit is offline  
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#110  

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Originally Posted by Postal Blowfish View Post
irrelevant thread.

politics shields and rewards these companies regardless of how much they're making. they make these profits, and our taxes go into their wallets too. our government does this. we put those people there. we clearly cannot stop this, or we would have already.
Zing.
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Old 02-04-2007, 02:05 PM N4rF is offline  
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Old 02-05-2007, 10:02 AM BoxyBrown is offline  
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Quote:
Originally Posted by N4rF View Post
spending 370 to make 39 is misleading termage. Saying they used 370 billion of their profit to make more money, while still having a BUDGET SURPLUS OF 39 BILLION, is more accurate. Any company with such a large profit margin is automatically making too much fucking profit imo. If you look at their actual operating expenses vs their profit, you'll see that they used most of their budget to expand as opposed to cutting profit marginally to make the gas they refine cheaper to the rest of us.

Thats why most people, including me, can't understand the prices at the pump... its because they're setting the prices out of the barrel. If you wanna bitch about the prices in the barrel, you talk about opec. Price per barrel is used by big oil to manufacture a reason to raise the price at the pump.

If you don't believe me, I suggest you take a hard look at what the prices used to be, and how the price per barrel has changed. The pump price was inflated and then never brought back down, meanwhile the oil companies grow exponentially faster.
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Old 02-05-2007, 10:36 AM 2slow is offline  
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to me, the real problem is the massive government aid they use receive to get to that profit
Old 02-05-2007, 11:36 AM cockAZNsensation is offline  
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#114  

Tex Arcana
I am a mean disrespectful person hiding anonymously and need an attitude adjustment.
 
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Quote:
Originally Posted by ColdFlare View Post
Never heard of this scandal, however any large corporation publicly traded is being audited by any of the remaining big 4 accounting firms. If any of them are found liable for falsifying audited financial statements then they are incredibly liable. Look at Arthur Andersen which was one of the big 5 accounting firms, they went down with Enron. I believe and dont quote me on this that Sarbanes Oxley requires corporations to switch between accounting firms every few years and these firms compete against eachother for business.

You can say they are invovled together in scandals or what not, but these are just acusations and you bring no proof.

Because what proof there is is eitehr buried or went to the grave with the people who discovered them.
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Men heap together the mistakes of their lives, and create a monster they call destiny.
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Old 02-05-2007, 01:05 PM Tex Arcana is offline  
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#115  

Tex Arcana
I am a mean disrespectful person hiding anonymously and need an attitude adjustment.
 
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Quote:
Originally Posted by Postal Blowfish View Post
irrelevant thread.

politics shields and rewards these companies regardless of how much they're making. they make these profits, and our taxes go into their wallets too. our government does this. we put those people there. we clearly cannot stop this, or we would have already.

The only solution is to take back control of our government, either through our votes, or with our firearms.
__________________
People should not be afraid of their governments. Governments should be afraid of their people.--V


Men heap together the mistakes of their lives, and create a monster they call destiny.
--John Hobbs


~~~ ~~~ Tea[m] Pyratex ~~~ ~~~
Old 02-05-2007, 01:07 PM Tex Arcana is offline  
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#116  

N4rF
 
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Way to pull your own punk card.
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Old 02-05-2007, 02:34 PM N4rF is offline  
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N4rF
 
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The only solution is to take back control of our government, either through our votes, or with our firearms.
Yeah, good luck with the firearms. Unless something changed last week, they're still undyingly loyal to the president... and voting just seems rigged these days. Note, just so that comment doesn't spiral off into some dumbass vote recount crap, i said SEEMS.
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Old 02-05-2007, 02:36 PM N4rF is offline  
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#118  

Foei
 
Quote:
Originally Posted by N4rF View Post
Yeah, good luck with the firearms. Unless something changed last week, they're still undyingly loyal to the president... and voting just seems rigged these days. Note, just so that comment doesn't spiral off into some dumbass vote recount crap, i said SEEMS.
Yeah voting is so rigged that a non controlling power was just elected majority. I guess the hax switched sides this round. Stay tuned next year
Old 02-05-2007, 07:32 PM Foei is offline  
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fatrat2
 
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to me, the real problem is the massive government aid they use receive to get to that profit


Yeah, because prospecting and drilling for oil is such a low risk operation that anyone can do it and profit big.
Old 02-06-2007, 12:12 AM fatrat2 is offline  
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