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Apes of the Apocalypse: Sarbanes-Oxley (again)

Apes of the Apocalypse: Sarbanes-Oxley (again)

by Rick Turoczy on September 21, 2006

Before Sarbanes-Oxley, the “discipline of the market” led many CEOs to condone accounting fraud, while their underlying companies continued to be sound businesses. Sarbanes-Oxley was designed to protect investors, but it has ended up hurting employees, customers, and society in general. With Sarbanes-Oxley, since CEO’s can no longer just make stuff up, their pursuit of earnings growth is destroying the companies themselves. The collapse of Dell is a beautiful example. A company once known for quality control and customer care has been slowly cheapening its brand for the last ten years, until the customers who buy exploding laptops find themselves unable to parse the thick accents of the customer care representatives.

Apes of the Apocalypse: Sarbanes-Oxley (again)

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