When will someone file a complaint with the SEC about Madsen forcing businesses to pull in revenue from future quarters to cover the shortfalls of the current quarter, all in an attempt to rig the numbers for the Stock Prices to fool wall street and investors into thinking we were doing well and meeting the quarterly numbers.
This flowed fro Cote to Mahoney to Madsen to the Budiness teams.
Fraud, Cooking the books
Hey guys, it is perfectly acceptable accounting practice to take anticipated future savings from RIF on the Balance Sheet for the current year as long as the books are not posted. This way you can get a fresh start if the business tanked in 2016. This much better than showing poor number in two consecutive years.
Breach of contracts
No fraud in any of that. Poor business practices for sure and a little bit deceptive but 100% legal and not uncommon. Better to write your congressman and ask for a new law preventing it. Good luck with that.
it's not fraudulent if contract allows it. A lot of the DS contracts allow early shipments, the contracts are written in a way that states xxx delivered by 20xx, with ability to ship early. It's not great business practices, since its the cliché robbing peter to pay paul, but certainly not fraudulent.
OP: Why don't you file a complaint with the SEC against Madsen?
I don't think shipping ahead when you are contractually allowed is fraudulent. Maybe not a good business practice.. but it's not fraud.
Does anyone remember Enron?
Lots of shenanigans. Put a couple of people in finance under oath in a deposition and you cold start pulling strings from the sweater.