distro pruned -- following NGs eliminated
alt.religion.christian,alt.california,or.politics, alt.politics.democrats,talk.politics.guns,can.poli tics,
rec.bicycles.tech,misc.survivalism,tx.guns

On Mon, 23 Dec 2013 18:10:18 -0800, Rudy Canoza
wrote:

snip
The decisions are made by real people with personal
agendas, which may or may not include the best interests of
the owners/stockholders in either the short or long term.

As Alchian showed, those firms that survive are, in fact, the ones that
maximized profit, just as the theory of the firm predicts.
snip

Non sequitur

Mother Teresa worked at a corporation? Need the data
showing the total compensation of the decision makers. It
might well be that by ignoring the best long-term self
interests of the stockholders/stakeholders/firm management
maximized their own profit, e.g. they took the money and
ran, and the management of the firms that survived had lower
compensation than their peers.
http://www.motherteresa.org/
http://en.wikipedia.org/wiki/Mother_Teresa

As for the reality of a company/corporation, please post a
picture of one. Just as real as Santa, the Easter Bunny,
the Great Pumpkin, etc. All of them are tropes, most of
them with a "Wizard of Oz" type, e.g. Chainsaw Al Dunlap,
pulling the levers behind the scenes.
http://en.wikipedia.org/wiki/Albert_J._Dunlap
snip
Reports of the methods Dunlap used to inflate revenues led
the board to review Dunlap's practices in June 1998. It
turned out that Dunlap had sold retailers far more
merchandise than they could handle. With the stores
hopelessly overstocked, unsold inventory piled up in
Sunbeam's warehouses. As a result, Sunbeam faced losses of
as much as $60 million in the second quarter of 1998. The
company's comptroller also told the board that Dunlap had
told him to push the limits of accounting principles. On
June 13, Dunlap was fired. The shareholder suit against
Dunlap dragged on until 2002, when he agreed to pay $15
million to settle the allegations.[4][5]

In 2001, the Securities and Exchange Commission sued Dunlap,
alleging that he had engineered a massive accounting fraud.
Also named in the suit were four other former Sunbeam
executives and the lead partner for Sunbeam's account with
Arthur Andersen LLP. An SEC investigation revealed that
Dunlap and others had created the impression of a greater
loss in 1996 in order to make it look like the company had
experienced a dramatic turnaround in 1997. By the SEC's
estimate, at least $60 million of Sunbeam's 1997 earnings
were fraudulent. He also offered incentives for retailers to
sell products that would have otherwise been sold later in
the year, a practice known as "channel stuffing". The SEC
also argued that the purchases of Coleman, Signature and
First Alert were made to conceal Sunbeam's growing problems.
Sunbeam never recovered from the scandal, and was forced
into bankruptcy in 2002.[3]
snip

http://www.youtube.com/watch?v=eTro82HVIi0

http://www.youtube.com/watch?v=npFKStNMHeE



--
Unka' George

"Gold is the money of kings,
silver is the money of gentlemen,
barter is the money of peasants,
but debt is the money of slaves"

-Norm Franz, "Money and Wealth in the New Millenium"