new Michael Woodford book review & the "Bell Ringer"

Started Jan 21, 2013 | Discussions thread
dave gaines
OP dave gaines Veteran Member • Posts: 9,183
Way out in left field

YouDidntDidYou wrote:

USA investors did not appear until after the Woodford affair news broke or in the strange case of Goldman Sachs a few days before!!!

An American investment group was one of the biggest investors in Olympus before the stock tumbled in value. No one had more than a 5% share. The biggest investors were several Japanese banks. All these entities hold private funds.

Woodford never looked at the books it was Facta magazine that alerted him!

Facta found out first. What's you're point? He looked at the books when he was made aware of the odd, fake investments and found accounting discrepencies.

My idea of a hero is someone who has an honourable motive.

You mean like Superman or Batman? In the business world any stand you take can affect your career. Woodford put his career on the line to confront his BOD. His motive was to follow corporate law and run an open-book corporation. That's honorable enough.

Olympus future is not largely dependent on Sony sensor technology.

Sony's investment and the use of their sensors will help Olympus. It sure made the EM-5's resolution, DR and high ISO ability better than anything from Olympus before it. What's your point here?

" If Olympus hadn't tried to hide the real value of their losses, the reaction on the stock market wouldn't have been so harsh." that loss from 20+ years ago you mean? and how do you know how the stock market would of reacted?

We know how stock markets did react to the news of accounting fraud. And no, what's significant is the loss of value from 2010 forward, when the news broke. They could have accounted for the loss sooner, before the 2008 economic collapse.

What makes you think Europe and America have free markets?

They do.

I spoke of business relationships, self-respect, fair treatment and the value of the individual in a "free world". Europe and America are very free markets compared to Japan and China, or anywhere in the Middle East and Southeast Asia. You may recall, Japan was an isolated society until the mid 20th Century.

Darrel is right. Many of your posts in this thread are way out in left field. Narrow views in the face of reality and the bigger picture.

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