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Olympus in BIG Trouble. - Page 2

post #11 of 12
holy crap. that's pretty crazy. I like Olympus and this news saddens me.
     
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post #12 of 12
Thread Starter 
Quote:
Originally Posted by Xinc View Post

From my understanding, it looks like Olympus was losing money in certain areas, so they "sold" that certain asset to company ABC & XYZ. So now it looks like ABC & XYZ were infact the ones losing money, and Olympus made some money from the transaction, cutting their losses.
Now in the following fiscal year (slate wiped clean), ABC & XYZ are being paid by Olympus for "advisory fees" as the assets they "sold" are no longer losing money. Oh and would you look at that? the advisory fees they paid also gave them part of those assets back... shady business practices.
Wait now we find out that ABC & XYZ are actually the mafia??? (like a loan shark keeping something as collateral for your loan).
Post-enron era way of doing business = more clarity in financial reporting, and more accountability to investors & shareholders.
That's what I understand of this situation, feel free to correct me if I'm wrong thumb.gif

That helped thumb.gif
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