I love when JV tells BO (this happened more than once in my presence) that they should have something 'in the left drawer' to cover operating shortfalls in the business. In other words, hide the EPS shortfalls to Wall Street with accounting adjustments. BO tried to explain that this was a big 'no-no' but I would not be surprised if he lost this battle. If I were with the SEC, I'd keep my eyes on this unethical management team.
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The arrogant a–holes running (and ruining) XRX are starting to despair, just realizing that they have a big revenue problem on their hands. So they are giving money away to the sale force to close deals and when this is not enough, they’ll cook the books. The stock price will follow the same disastrous trajectory as Conduent’s when the street wakes up and realizes that the technology powerhouse bullish they have been sold is just smoke and mirrors. Investors, stay away from this shady and unethical company. SEC, keeps your eye on what is going on.
- sjf: YES. Where is the outrage and ethical actions amongst readers of this site, or is this post only resonating with those having a certain level of insight? People talk about buyers, asset sales, layoffs of course but the regulators are coming and criminal charges are not out of the question.
The 2003 article shared above by @10UFBhTW-anw is kindergarten stuff vs. what is currently going on.
BO is too weak and lazy to stand up to JV and his bullies. So instead he looks the other way and collect his millions while criticizing everyone behind their back. He is extremely negative about XRX future which should give pause to any investors. How can you believe in a company when its CFO bad mouths his board, CEO, colleagues, employees, and products?
Arrogant CEO and ignorant CFO = Really Bad Combination!
If any cares to, you are protected if you speak up. https://en.wikipedia.org/wiki/SEC_Office_of_the_Whistleblower
Yeah, BO must be getting a nice bonus to look the other way. Hopefully enough to cushion him if this comes to light. This is 2003 level stuff. https://www.sec.gov/news/press/2003-70.htm