Tuesday, October 24, 2006
Here is a blatant case of fraud from the Bubble era that has just been settled. One has to ask where PR and IR were when a CFO was booking bad revenue with the encouragement, apparently, of the CEO and president? Either they went along or didn't know. Neither outcome says much for the influence of PR and IR on the course of business. The blogwriter says such booking of bad revenue doesn't happen anymore. He may be right for the moment, but it will happen again. Greed is a human condition.