So It's Not Just Tesco Then ..

[youngmafbog]

http://news.sky.com/story/1522499/toshiba-bosses-quit-over-1-2bn-profit-scandal

Seems this problem is not confined to the UK and Tesco.

Will Toshiba come in for rants like Tesco did on here?

[Gromit]

No, because it is not a British company.

Tesco committed a serious fraud and the victims (Investors) were British people and institutions. So there was a backlash against the company, orchestrated by the press, and the wrongdoers were ousted, and rightly so.

Tesco was already unpopular because of their arrogance and power. They aggressively won planning applications, and swept away many local businesses. The public don't like a bully, which is how they were perceived, so when Tesco did fall, it was seen as Karma.

[youngmafbog]

//and the victims (Investors) were Britis//

Pretty sure many Brits will be in invested in Toshiba - even if they dont know it !!

[Mosaic]

I would rant about this, but 'windows is downloading update 158 of 210' on my toshiba laptop......
Seriously though - don't you think all big corporations tell big lies?

[youngmafbog]

Pretty sure they all do tell porkies.

But 1.2 Billion is a bit of a whopper!


Bu

[mikey4444]

I seem to recall that Olympus were also guilty of a similar fraud, although I don't remember the numbers involved.

[Gromit]

(A UK Services Company) Autonomy's accounts were misaligned by $5billion, which has only come to light because an American Company bought it and found the cupboard was bare.

http://www.theguardian.com/business/2015/may/05/hewlett-packard-unveils-details-of-5bn-autonomy-case