Profits 1st, Safety 2nd? Pt 2

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Richard Haselgrove Project Donor
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Message 2054946 - Posted: 8 Aug 2020, 10:28:22 UTC - in response to Message 2054945.  

Do I see Switzerland in that list of shame - aren't they landlocked!!!!
Either a Rhine barge/cruiser, or a flag of inconvenience.
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Message 2056311 - Posted: 2 Sep 2020, 15:19:12 UTC

Musthava Profit speaks...
As we mentioned earlier, the Trump administration has indicated it will not be joining a WHO-backed coalition of 172 countries to share equitably any future vaccines against Covid-19 – and this has got some experts worried.
The Coalition for Epidemic Preparedness Innovations (CEPI) is one of the organisations supporting the initiative, called Covax, which plans to buy and distribute fairly some two billion doses of any vaccine in 2021.

Richard Hatchett, who heads CEPI, told the AFP news agency he is worried that the US, as well as other rich nations, are already reserving the first doses for themselves – at the expense of other countries.
"What we need to persuade global leaders is that as a vaccine becomes available in these initially limited quantities, it needs to be shared globally, that it shouldn't be the case that just a handful of countries get all of the vaccine that is available in the first half of 2021," he said.

The Trump administration said on Tuesday it would "continue to engage our international partners to ensure we defeat this virus". But it has signed contracts guaranteeing at least 800 million doses from six manufacturers which, Hatchett said, puts the US "potentially in a situation of oversupply if all of the vaccines that they've invested in are successful".

Global vaccine supply fears as US rejects coalition-scroll down for report
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Message 2057072 - Posted: 14 Sep 2020, 20:14:36 UTC

"By resolving these proceedings, Daimler avoids lengthy court actions with respective legal and financial risks," the company said.
Mustn't upset our profits
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Message 2057079 - Posted: 14 Sep 2020, 22:40:26 UTC - in response to Message 2057072.  

"By resolving these proceedings, Daimler avoids lengthy court actions with respective legal and financial risks," the company said.
Mustn't upset our profits
All kowtow to the all mighty god of profit, the strongest of the seven gods of sin.
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Message 2059753 - Posted: 21 Oct 2020, 19:44:00 UTC

Those included payments the firm made to healthcare companies and doctors to encourage prescribing the drugs, which were ultimately paid for by public health programmes.
Musthava Profit caught - too late
But critics of the plan want to see the company sold and greater effort made to recover money from the Sackler family. Court documents revealed last year that the family had transferred more than $10bn out of the company between 2008 and 2017, as scrutiny of its conduct increased.
No worries, we'll give back $3bn.
Lovely healthcare the US have.
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Message 2059757 - Posted: 21 Oct 2020, 20:04:49 UTC

Can 50 years be deemed as very old?
With South Yorkshire entering tier 3 from Saturday, it seems that South Yorkshire Pension Authority must have read their tealeaves. :-)
Covid 19 has impacted our income, so...
"They say it's for maintenance, but it's never been maintained since the 70s."
Debbi-Jayne Challenger, of Little Ouse, estimated there were nearly 200 people in the vicinity who used the bridge, including farmers, who carried out the "odd repair".
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Message 2059763 - Posted: 21 Oct 2020, 20:47:43 UTC

In terms of bridges it is quite young - near where I live there are quite a few bridges that are well over double that age....
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Message 2059764 - Posted: 21 Oct 2020, 20:56:02 UTC - in response to Message 2059763.  

That's what I thought. Been in that area many times while working with Parceline. TBH, the bridge looks familiar but can't recall using it.
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Message 2059765 - Posted: 21 Oct 2020, 21:05:13 UTC - in response to Message 2059763.  

In terms of bridges it is quite young - near where I live there are quite a few bridges that are well over double that age....

You mean like this one, built in 1561/2,

Cromwell's Bridge no evidence his army did cross it so maybe Brandywine Bridge is a better name?
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Message 2059768 - Posted: 21 Oct 2020, 21:11:56 UTC - in response to Message 2059763.  

I've just driven home over a canal bridge dating - according to Historic England - around the 1770s. Which is about right, because the canal itself was opened at almost exactly the same time as the USA was declaring independence.
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Message 2060032 - Posted: 26 Oct 2020, 16:19:39 UTC

They "talk the talk, but won't walk the walk".
I wonder why not.
Sub standard auditing
"I don't think it can really be fixed," he says. "As long as accountancy firms are paid by the companies they audit, and they also then throw in a bit of a consultancy, there is a conflict of interest. Nobody's going to bite the hand that feeds them."
He says that the best solution would be to have a state body audit the largest companies, just as HMRC oversees the auditing of tax collection.
"I think it matters, because we rely upon auditors to make corporations publicly accountable. And that matters, not only to investors in the stock market, but also to employees, about the safety of their pension schemes and to creditors."
A very thoughtful statement...
Ms Kumari, like many others looking for work in the wake of corporate failure, says the blame of the collapse of BHS should lie with its bosses. But she wonders what auditors knew - or could have asked - about the company's books before the end.
...Simple answer. No need to look further than the underlined.
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Message 2060067 - Posted: 27 Oct 2020, 4:36:57 UTC - in response to Message 2060032.  

Audits can be right, or wrong. They can be friendly or adversarial. They can be civil or criminal. They can be normal or forensic. They can be good or bad.

One thing however if they are fed garbage, then the result is garbage.

In the corporate world, they are friendly, which is the problem you complain about. The auditor assumes that the company being audited is giving them the real books. He isn't looking to see if the board of directors is cheating John Q. Public. After all his audit letter starts: "To the Board of Directors of "

The vast amount of audit time is spent trying to find money being stolen from the company. Fake bills. Money coming in but not being recorded. Your traditional embezzlement.

What has caught a lot of the big accountancy firms is theft at the board room level. Such as a stack of fake purchase orders from customers. It has been assumed places don't want to pay tax on fake orders. Today however it seems as if they are willing. It gets the board a bonus and they all know the orders are fake but they still pay themselves. Then of course the orders get canceled. Might also be used to get a bank loan. Or con investors into buying stock or bonds. But until recently the assumption was the Board was being honest in what they turned over for audit and then internal controls would catch a rouge sales person trying this for a big commission. Not wholesale deception at the board level.

The books where I work are audited every year. Could they miss something? Yes, but not something "material." Now what the heck is "material." Not material is someone taking home a pen that belongs to the company. Material is someone taking home 100G.

Perhaps your side of the pond might look into https://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act and adopt what you need.
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Message 2060077 - Posted: 27 Oct 2020, 11:52:21 UTC

I know that the sport is not everyone's cup of tea, but it has been a community sport & from the looks of it, it still is.
A kick in the teeth for the profit lovers

BT Sport and Sky Sports reportedly want the pay-per-view model to be scrapped because of concerns about the damage it is doing to their reputation.
ROFLMAO
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Message 2060704 - Posted: 5 Nov 2020, 21:59:33 UTC

"You are not of positive good character. Your offending occurs against a backdrop of successive bankruptcies," he said.
hmm...
..wonder could this be the reason why Trump is so hell bent on staying in the White House?
Formerr BHS owner jailed for tax evasion
Meanwhile...
A rare victory for common sense
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Message 2060739 - Posted: 6 Nov 2020, 11:02:22 UTC

A lengthy and thoughtful review of the evidence so far to the Grenfell Tower public inquiry, by a BBC correspondent.

Grenfell Tower inquiry: Four possible reasons for the fire

And as frightening as hell.
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Message 2060742 - Posted: 6 Nov 2020, 11:27:27 UTC - in response to Message 2060739.  

All those companies saying (internally) "There's nothing wrong with our product, so who can we blame". And the one organisation that may have had the ability to shout "STOP" out of the loop very early on.
As you say "As frightening as hell".
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Message 2060757 - Posted: 6 Nov 2020, 14:03:13 UTC

The dangers of some of the materials etc. used in Grenfell have been known for a good few years - skip to about 8mins to get to the core of things.
https://www.youtube.com/watch?v=kr3OAIvgbk8
A ship load of common sense and loads of heads berried in the sand
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Message 2061454 - Posted: 15 Nov 2020, 12:51:27 UTC

No worries, inflation hits so it'll get sold for a fiver.
Then again, it might go for a tenner
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Message 2061619 - Posted: 17 Nov 2020, 16:49:19 UTC

"We do not understand why, as late as June, government was still making direct awards of contracts sufficiently lucrative as to enable these sorts of profits to be made," Jolyon Maugham, the project's director told the BBC.
They added: "(DHSC) Proper due diligence is carried out for all government contracts, and we take these checks extremely seriously."
Nice profits, stuff safety
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Message 2062623 - Posted: 1 Dec 2020, 10:55:39 UTC

This demand is based on what Mr Timms and others would regard as a moral obligation from the Greens who have huge wealth based on a £1.2bn dividend Sir Philip took from Arcadia and paid to his wife, tax-free in 2005.
Lovely tax department :-]
Are our pensions safe?
Another one bites the dust
"Given how prominently Arcadia brands feature in its stores, the downfall of Sir Philip Green's empire was always likely to leave Debenhams' rescue deal hanging by a thread."
Naw, say it isn't so.
Gondorff & Hooker aren't a patch on Trump Green.
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Message boards : Politics : Profits 1st, Safety 2nd? Pt 2


 
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