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HP Skates Away From SEC Charges
theodp writes "The SEC has dropping charges against HP, in return for some small concessions. The company was originally charged with improperly depriving investors of important information, violating the public reporting requirements of the Securities Exchange Act, and failing to disclose the full impact of an out-of-control press leak investigation. In return for the dropped charges, the computer maker simply agreed to cease and desist from doing similar acts in the future, without admitting or denying having done so in the past. 'HP acted in what it believed to be a proper manner,' said the company in a press release."
Yes my precious!
*** Beware. Disgust vent system engaged. ***
Chas - The one, the only.
THANK GOD!!!
Step 1: Become a Corporation. Step 2: Commit a crime. Step 3: Profit! Step 4: Dont go to jail. and maybe.. Step 5: Write a book about it. Step 6: Profit!
Libertarian Leaning Political Discussion Forum.
You know, it's disgusting how this country has become for a dollar....
Phillips, TRW, and Koch have more in common than a history of repeatedly violating workplace and environmental laws. They also rank among the nation's largest government contractors. Between 1995 and 2000, the three corporations received a combined total of $10.4 billion in federal business-at the same time that regulatory agencies and federal courts were citing the companies for jeopardizing the safety of their employees, polluting the nation's air and water, and even defrauding the government.
That's not supposed to happen. Federal contracting officers are charged with reviewing the record of companies that do business with the government and barring those that fail to demonstrate "a satisfactory record of integrity and business ethics." But officials are given no guidelines to follow in making such decisions, and there's no centralized system they can consult to inform them of corporate wrongdoing. As a result, a government report concluded in 2000, those responsible for awarding federal contracts are "extremely reluctant" to take action, even when they are aware of violations. And in the rare instances when the rule is enforced, it is almost always employed against small companies with little clout in Washington.
There is little incentive for any company to follow laws of the law. Why should they when they can get a slap on the wrist and a wink of the eye... "You don't go doing that again now you here... By the way, we really like those HP notebooks and I was thinking about my son's classmates". Jesus christ this country is a scam in itself
Infiltrated dot Net
HP believes pretexting is "proper." HP believes that pretexting, something that if I were to do to HP would certainly NOT be considered "proper" is perfectly acceptable.
Keep in mind that it wasn't long ago that a bill legalizing pretexting was pushed by the RIAA.
Please stop buying HP stuff. Please stop buying stuff from companies that have a political axe to grind against their consumers. Please stop buying stuff from companies that consider consumers a silent, renewable, god given, right to exploit resource that simply keeps buying their dreck regardless of their political behavior.
Start voting (because you haven't been at the polls). Boycott HP.
Why don't we hold corporate america to high standards any more ?
Any more? When did we ever?
"It is a miracle that curiosity survives formal education." -Albert Einstein
...Go ahead and break the law. We'll let you off if you promise not to do it again.
I hope they at least made them pinky-swear.
...and escape all punishment for having knowingly and egregiously broken the law before the promise. From the SEC press release: "Without admitting or denying the Commission's findings, HP consented to an order that it cease and desist from committing or causing violations of these provisions." Oh, wait I get it! Knowing something is illegal and doing it anyway is not grounds for punishment as long as you, once cuaght, just promise to cease and desist violating the law thereafter. Defendant: "Gosh Your Honor. If, despite the prosecution's proving I broke the law and robbed a bank, I neither admit nor deny doing it and further I promise to cease and desist robbing banks in the future, can I just go free now?" Judge: "Certainly. I think you've learned your lesson. Defendant dimissed. Son you are free to go" Corporations and the rich are held to far lower standards than the rest of us.
Appended to the end of comments you post. 120 chars.
You must be new here.
'Loose' is when your pants are three sizes too big. 'Lose' is when you misuse 'loose'.
Because they are a corporate entity they should follow all the rules.
What would happen if I failed to file my taxes ! I get in deep trouble and would probably be hung from the state building by the IRS workers , via Lord of the Fly like hordes , but yet these guys just feel like they shouldn't have to report even the little things.
As an Hp stock holder this affects me. This is a major reason why most americans are starting to see investing in US companies a waste. They are not being "nice neighbors" any more.
"It stinks And I don't like it" - Surly Truck Driver from Spiderman movie.
This package Does Not Contain a Winner
Yes. that's part of being in the club. Recent high-profile club members that will get off include:
4 7237
1 46051 No consequences on this one.
The major government IT vendors: http://it.slashdot.org/article.pl?sid=07/04/19/23
Jack Abramhoff and his pals: http://en.wikipedia.org/wiki/Jack_Abramoff. A tiny number of people were perp-walked.
The Bush administration for, among other things, sodomizing the division that is used to exist between the Executive branch and the Attorneys General. http://slashdot.org/comments.pl?sid=234873&cid=19
American history is full of corporate shenanigans that ended with no penalties. Why does it suck now?
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They had a leak. they investigated the leak. They presented findings to the board. One board member objected to the investigation and presentation process and resigned. They didn't disclose the full details of the resignation to the SEC.
/. fanboy readership can inflict.
It's not like they poisoned Bhopal, killed a bunch of pets, or murdered everyone in Hama.
Ohhhhhhh. I get it. Big company. Definitely deserving of all the flea bites the
668: Neighbour of the Beast
HP said it was just a poor company from across the border, here to make profits Americans won't make.
The Feds decided it was too much hassle, made a speech, and let them go.
sigs, as if you care.
"Do you profit from supporting the status quo?"
You really aught to put that in your sig. You add that snide personal attack to everything you post, it seems.
"Ask not what your country can do for you." --John F. Kennedy
I remember back in the 80's when people first noticed that the FCC was serving the interests of companies more than the populace. Everything else that has followed since from fighting for the rights of large media companies to merge to seeking to suppress internet content at the behest of AOL Time Warner started then with Regan's appointees. Now the FCC openly behaves as a tool of the conglomerates. Or in the case of the illegal wiretapping, a tool of the NSA.
A similar lack of complaint was heard when the food and drug administration reevaluated aspertame for the third time and declared it safe despite their own warnings to the contrary see here. Thanks again Donald Rumsfeld.
Then the Food and Drug administration recently was accused of stepping down enforcement of many complaints and 'streamlining' the process of approval for the drug companies.
Now this. Realistically speaking I would hope that sooner or later events like this, you know large companies committing fraud and spying on people for money, lying, etc. and being given only a slap on the wrist, would say piss people off so much that they would Write their Congressional Representative, and Their U.S. Senator, and even The President. A few e-mails saying, either this is a government of by and for the people or we'll vote for someone else. A few e-mails saying, I pay my taxes why are they being spent to harm me? A few e-mails just reminding them that we are paying attention. Lacking that they can do whatever they want and we're no longer the greatest nation on earth.