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totalnewbie posted:I don't know about netjets but it's pretty common to have group ownership of a plane. It's common to own horses too, doesn't mean it's GWM
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Feb 17, 2018 22:21
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NancyPants posted:It's common to own horses too, doesn't mean it's GWM At a certain wealth threshold you might argue that flying on a private plane is worth the speed and convenience you can't get out of a commercial air travel at any price. And for most people even in that category leasing time on a private plane is going to be more cost effective than owning or leasing one outright. AreWeDrunkYet fucked around with this message at 22:37 on Feb 17, 2018 |
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Feb 17, 2018 22:33
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BattleMoose posted:http://www.news.com.au/finance/work/former-anz-boss-tracey-lee-cook-sentenced-over-300k-scam/news-story/b40a62ee77d472f77dace89dd7950ec6 This is similar: https://abovethelaw.com/2017/11/biglaw-associate-fired-when-her-husband-pleads-guilty-to-insider-trading/ quote:According to the Manhattan U.S. Attorney’s Office, Yan used inside information about Linklaters client Sibanye Gold’s $2.2 billion acquisition of Stillwater Mining in 2016 to buy stock options in Stillwater. His wife had worked on the Sibanye transaction. Yan then off-loaded his stock options on the day the deal was announced, for a profit of more than $100,000. Just in case you're wondering salary wise, these two were grossing 300k at the absolute low end.
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Feb 17, 2018 22:34
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Harry posted:This is similar: Jesus. Imagine what the smart crooks are getting away with.
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Feb 18, 2018 00:32
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Nocheez posted:Jesus. Imagine what the smart crooks are getting away with. 
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Feb 18, 2018 00:36
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Feb 18, 2018 01:19
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NancyPants posted:It's common to own horses too, doesn't mean it's GWM Oh yeah, my point was just that a "timeshare" for a plane isn't like a real timeshare. Obviously if you can't afford to fly then it's bwm but because of the high cost and time commitment of getting a pilot's license, I think that usually excludes people who really can't afford it.
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Feb 18, 2018 01:38
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lmao
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Feb 18, 2018 01:41
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Feb 18, 2018 03:17
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Given my personal experiences with family owned businesses, I can safely say all of those can be assumed guilty of breaking multiple tax/hiring laws until proven innocent. Needless to say when you climb up more on that job creators pyramid
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Feb 18, 2018 12:08
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Palladium posted:Given my personal experiences with family owned businesses, I can safely say all of those can be assumed guilty of breaking multiple tax/hiring laws until proven innocent. I've seen it work a bit differently. Small busineesses are an absolute shitshow of tax fraud, terrible bookkeeping, no controls, etc. No one pays attention in any real sense, including tax authorities When they get into the medium sized enterprise space and start introducing institutional financing, auditors and such swoop in an make sure everything is to the letter of the law. There's somewhat more scrutiny here and straightforward violations can often trigger enforcement so better safe than sorry. Then once the company becomes substantial and influential itself, legal questions become more flexible again and are really more of a starting negotiating point for lawyers and lobbyists than absolute rules. At this point all of the executives are effectively insulated from real penalty by layers of lawyers and prosecutors/regulators who don't want to upset the industry.
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Feb 18, 2018 14:32
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AreWeDrunkYet posted:I've seen it work a bit differently. Small busineesses are an absolute shitshow of tax fraud, terrible bookkeeping, no controls, etc. No one pays attention in any real sense, including tax authorities Didn't Dodd-Frank make C-level executives responsible again for their company's financial reports? Like they couldn't just say, "I didn't know". At least as easily or effectively as before. Although, I don't know how much of that the GOP has repealed. Probably most of the good stuff.
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Feb 18, 2018 14:37
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Krispy Wafer posted:Didn't Dodd-Frank make C-level executives responsible again for their company's financial reports? Like they couldn't just say, "I didn't know". At least as easily or effectively as before. Sarbanes Oxley did that, lot of good it did in 2008 thanks to aforementioned regulatory capture. Dodd Frank may have added some teeth on paper, but in practice...
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Feb 18, 2018 14:42
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AreWeDrunkYet posted:Sarbanes Oxley did that, lot of good it did in 2008 thanks to aforementioned regulatory capture. Dodd Frank may have added some teeth on paper, but in practice... I get my symbolic, but largely useless laws mixed up. Sarbanes Oxley was in response to stuff like Enron and WorldCom. Dodd-Frank was because of Lehman's and AIG. The Guillotine Act of 2024 will probably have something to do with Facebook.
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Feb 18, 2018 14:53
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totalnewbie posted:Oh yeah, my point was just that a "timeshare" for a plane isn't like a real timeshare. Obviously if you can't afford to fly then it's bwm but because of the high cost and time commitment of getting a pilot's license, I think that usually excludes people who really can't afford it. Netjets isn't like that at all. The time you are paying for is inclusive of pilots and cabin crew. One of my friends is a stewardess for them and has mentioned when shes had trips with "Uncle Warren".
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Feb 18, 2018 15:32
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Krispy Wafer posted:Didn't Dodd-Frank make C-level executives responsible again for their company's financial reports? Like they couldn't just say, "I didn't know". At least as easily or effectively as before. Sarbanes Oxley did that. One of the first people charged because of it joined an all black church, got a black lawyer, and made sure to get a black majority jury. I believe the lawyer compared it to a government funded lynching as well. He was acquitted while all his executives plead guilty and took a deal. Harry fucked around with this message at 15:48 on Feb 18, 2018 |
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Feb 18, 2018 15:38
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Feb 18, 2018 16:37
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Krispy Wafer posted:I get my symbolic, but largely useless laws mixed up. Sarbanes Oxley was in response to stuff like Enron and WorldCom. Dodd-Frank was because of Lehman's and AIG. SOX isn't even something all companies have to be compliant with. I worked for a privately-traded company that was wanting to go public, and a big thing was trying to get SOX-compliant.
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Feb 18, 2018 17:25
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22 Eargesplitten posted:SOX isn't even something all companies have to be compliant with. I worked for a privately-traded company that was wanting to go public, and a big thing was trying to get SOX-compliant. Which makes perfect sense if you consider who SOX was meant to protect it's shareholders. Watching a hundred billion dollars in wealth disappear down the trash fires that were WorldCom and Enron gets people's attention. Heck, WorldCom died around 2003 and their former CEO is still in prison.
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Feb 18, 2018 17:44
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NancyPants posted:I see your time-share horse and raise you a time-share private jet: I worked at NetJets and it's bad with money on both sides. The salespeople will give away anything to make a sale - free hours, lower rates, free jet upgrades - so most sales are break even for the company. The company is Buffett's worst investment.
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Feb 18, 2018 19:41
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employers steal a lot 
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Feb 18, 2018 19:56
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an actual dog posted:employers steal a lot 
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Feb 18, 2018 20:05
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an actual dog posted:employers steal a lot
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Feb 18, 2018 20:15
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Cicero posted:Interesting chart, would like to see the sources for it. https://www.reddit.com/r/dataisbeautiful/comments/7ebdyu/billions_of_dollars_stolen_every_year_in_the_us/dq3rtgk/
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Feb 18, 2018 20:28
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Cicero posted:Interesting chart, would like to see the sources for it. Here's more. About a billion recovered every year, yet structures to recover stolen wages are being gutted, and there's so many other reasons a worker would not report this happening.
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Feb 18, 2018 20:36
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My job at the HQ of a Fortune 50 company has lots of blurbs and FYI's on various display monitors on every floor. One was a hypothetical question from an employee who reported a problem with their manager and had their hours cut. The response was to never be afraid to report concerns. Notice the lack of, 'and report any malfeasance or retaliation' or 'we'll back you up.' And sure, maybe it's just an omission. Not saying that company's name because it's my livelihood. But at AT&T, they had a policy where you got your prorated yearly bonus no matter when you left the company. So if you quit on January 2nd, you'd only get 1 day's worth of bonus money, but you still got it. That's pretty incredible. Like I've never seen a policy so comprehensive. There's no way AT&T wasn't caught laying people on December 30th to get out of paying that year's bonus and had to overcompensate by agreeing to pay bonuses no matter when you separated from the company. Not a chance.
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Feb 18, 2018 21:06
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an actual dog posted:Here's more. About a billion recovered every year, yet structures to recover stolen wages are being gutted, and there's so many other reasons a worker would not report this happening. Well duh, why should the government spend time recovering money for poor people? It's not as if the lower middle class and poor drive the most spending and it could even decrease reliance on welfare programs or anything. If they don't like it, these people who make less than minimum wage should use some of their sleeping and commuting time to just sue their employers. ETA: real statement heard from a college student regarding the wage gap: "it's been illegal to pay men and women different wages since the 60s, they're full of poo poo." BonerGhost fucked around with this message at 21:14 on Feb 18, 2018 |
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Feb 18, 2018 21:10
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Krispy Wafer posted:My job at the HQ of a Fortune 50 company has lots of blurbs and FYI's on various display monitors on every floor. One was a hypothetical question from an employee who reported a problem with their manager and had their hours cut. The response was to never be afraid to report concerns. Notice the lack of, 'and report any malfeasance or retaliation' or 'we'll back you up.' And sure, maybe it's just an omission. AT&T has unions
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Feb 18, 2018 21:22
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an actual dog posted:AT&T has unions This was management, so it would have nothing to do with represented employees.
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Feb 18, 2018 21:26
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 Only ten spots left, guys. Don't miss out on this once in a lifetime... oh wait, there's another one next week.
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Feb 18, 2018 23:48
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Bad With Money 2018: Maybe I could pay the accountant in leggings
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Feb 19, 2018 00:12
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They have a serious problem 😂😂😂
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Feb 19, 2018 00:23
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Ulf posted:They have a serious problem 😂😂😂 Yeah they spent thousands of dollars on inventory for a fad MLM business and got left holding the bag
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Feb 19, 2018 00:43
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Sundae posted:
I feel like with enough malfeasance, there's room for personal gain creating something along the lines of TrumpCoin/PepeCoin/AR-15coin/Southerncoin and marketing it to lovely people.
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Feb 19, 2018 01:40
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You're a little late.
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Feb 19, 2018 01:51
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BWM: not paying for the legal fees of people that might testify against you: https://www.cnn.com/2018/02/18/politics/gates-manafort-plea-deal/index.html quote:Gates has told associates he had hoped for outside assistance from a legal defense fund, but deep-pocketed GOP donors have shown little interest in helping either Gates or Manafort cover their legal fees, two sources said.
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Feb 19, 2018 05:50
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Feb 19, 2018 06:55
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So does anything with the word "horse" just get posted automatically now regardless of it being funny or an example of people being bad with money
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Feb 19, 2018 09:26
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Enfys posted:So does anything with the word "horse" just get posted automatically now regardless of it being funny or an example of people being bad with money Are you all butt hurt because bwm horses died after farting?
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Feb 19, 2018 11:36
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Some crazy lady is posting about paying an accountant in leggings, but half the thread never notices any actual content anymore because they are constantly tripping over themselves to remind each other that horses exist and that many years ago, Ruddha made a funny post
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Feb 19, 2018 11:49
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