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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (6297)	12/7/2005 12:02:03 PM
From: Ilaine	Read Replies (1) \| Respond to of 542302

Boeing has in-house government auditors because they do a lot of very specialized defense contracting. I doubt oil companies do. I also doubt that the in-house government auditors get much of a look at the details of anything that's outside the parameters of the government contracts. For example, if the government wants a company to build a prototype of a new airplane, typically that's bid so the company is reimbursed for costs plus a pre-set markup for profits, so called "cost plus" contracts. As for money "under the table" -- the underground economy is huge. I don't think publicly traded corporations can get away with much since they are audited by outside firms but you see it all the time anyway, e.g., Enron.

To: KLP who wrote (6297)	12/7/2005 12:46:13 PM
From: TigerPaw	Read Replies (1) \| Respond to of 542302

people actually think that profit for companies is over 50%. For some companies it is. I worked for a time in the Pawn Shop industry. The company basicly made secured loans for about a 250% interest rate. Sure, there was some overhead and bad loans, but not so much as you might think. I would think the annual profit was at least 100%. The only reason that Pawn Shops don't produce the wealth of a Bill Gates is that there are a limited number of customers who need that service and can't get it elsewhere at a better rate. TP