KrK
Heavy Artillery For The Little Guy
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join:2000-01-17
Tulsa, OK
 ·AT&T Yahoo
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| reply to jester121
Re: Regulator demands for info increases costs
said by jester121  :Correct. Enron and the rest found loopholes in the existing mountains of regulations and used them to gain illicit profits. They weren't loopholes. They just basically violated accounting standards and broke laws to make their company stock value increase. It wasn't a legel loophole, it was then and is now illegal.
Now, they did take advantage of lax oversight and regulation to make the frauds succeed.
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DarkLogix
join:2008-10-23
Baytown, TX
·Comcast Workplace
·Comcast
| reply to Matt
said by Matt :said by TKJunkMail :The scope of the FCC's investigation was broad, seeking data going back to 2006. "After reviewing their request for information, we determined that it would have taken over 1,500 man hours just to compile the information for 2008."
"We stand ready to work with them and to see how best to proceed from this point. The amount of information was so substantial and the amount of time very short," the Comcast spokeswoman said. And people wonder why businesses, both large & small, hate regulatory agencies. It is the cost of providing huge amounts of info to feed the bureaucrats constant demands for data and then waiting interminably for OKs to do anything. This isn't just the FCC, but the dozens of agencies that a business has to satisfy to do anything. So? It's called the cost of doing business. All the other companies were able to provide the requested information. Perhaps Comcast should look into WHY it would take 1500 man-hours to provide very basic information about their network and offerings? Aside from that, saying "We can't provide that information at this time." is answering the question directly, Martin says they didn't even do that. said by Article :
"They didn't even answer the questions directly. They had a narrative but they didn't even answer the specifics of the questions directly," Martin said, referring to Comcast.
I'm sure you understand what providing a narrative to a request for information is. It's kind of like your wife telling you how she feels when all you asked was what restaurant she wanted to go to for dinner. Ya it really ticks me off when someone does that to me
If I ask something I want that info
its like asking how much is that (whatever) and hearing how it was built and who built it and how many were sold yesterday and who buys it but not the price
(the whole truth, the full truth, and NOTHING BUT the truth)
now substitute truth for answer |
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Matt
Take me down to the paradise city
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join:2003-07-20
Jamestown, NC
·North State Commun..
| reply to TKJunkMail
said by TKJunkMail :The scope of the FCC's investigation was broad, seeking data going back to 2006. "After reviewing their request for information, we determined that it would have taken over 1,500 man hours just to compile the information for 2008."
"We stand ready to work with them and to see how best to proceed from this point. The amount of information was so substantial and the amount of time very short," the Comcast spokeswoman said. And people wonder why businesses, both large & small, hate regulatory agencies. It is the cost of providing huge amounts of info to feed the bureaucrats constant demands for data and then waiting interminably for OKs to do anything. This isn't just the FCC, but the dozens of agencies that a business has to satisfy to do anything. So? It's called the cost of doing business. All the other companies were able to provide the requested information. Perhaps Comcast should look into WHY it would take 1500 man-hours to provide very basic information about their network and offerings?
Aside from that, saying "We can't provide that information at this time." is answering the question directly, Martin says they didn't even do that.
said by Article :
"They didn't even answer the questions directly. They had a narrative but they didn't even answer the specifics of the questions directly," Martin said, referring to Comcast.
I'm sure you understand what providing a narrative to a request for information is. It's kind of like your wife telling you how she feels when all you asked was what restaurant she wanted to go to for dinner. |
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espaeth
Digital Plumber
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join:2001-04-21
Minneapolis, MN
 ·voip.ms
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| reply to Rob
said by Rob :But then again, look at Enron, Worldcom, Adelphia, and all the recent companies who had little or no regulation. Sarbanes Oxley is a response to those events, and reflects the typical government response to an issue:
Too much, too late, and in the wrong place.
You have to wonder what the FCC would even do with that data, other than mark the check box that they've received it. |
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jester121
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join:2003-08-09
Lake Zurich, IL
 ·surpasshosting
·ViaTalk
| reply to JSRoman
Correct. Enron and the rest found loopholes in the existing mountains of regulations and used them to gain illicit profits. More regulation = more loopholes.
Case in point -- why weren't the CEOs of Fanny Mae and Freddie Mac marched into a courthouse in front of the cameras, under arrest for being dishonest about the health of their companies? Isn't that what SOx was supposed to prevent? Billions were lost (except by the execs) yet there's been no public outrage, no death threats like Enron executives received, and no one had their character smeared in the press.
Strange.... |
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pnh102
Reptiles Are Cuddly And Pretty
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join:2002-05-02
Mount Airy, MD
·Comcast
| reply to Rob
said by Rob :But then again, look at Enron, Worldcom, Adelphia, and all the recent companies who had little or no regulation. The executives who broke the law were punished under existing law. There was no need for Sarbanes-Oxley.
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JSRoman
Premium
join:2005-03-10
Callahan, FL
2 edits | reply to Rob
Disagree. Plenty of regulation. The problem was their Chief Officers broke the law and all ended in jail or in the grave. These companies failing had very little to do with not enough regulations. |
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Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
·Comcast
| reply to TKJunkMail
said by TKJunkMail :The scope of the FCC's investigation was broad, seeking data going back to 2006. "After reviewing their request for information, we determined that it would have taken over 1,500 man hours just to compile the information for 2008."
"We stand ready to work with them and to see how best to proceed from this point. The amount of information was so substantial and the amount of time very short," the Comcast spokeswoman said. And people wonder why businesses, both large & small, hate regulatory agencies. It is the cost of providing huge amounts of info to feed the bureaucrats constant demands for data and then waiting interminably for OKs to do anything. This isn't just the FCC, but the dozens of agencies that a business has to satisfy to do anything. I use to agree to that. The Sarbanes Oxley Act, for example, requires a lot of money and a lot of man hours for a small broker firm in order to stay compliant.
But then again, look at Enron, Worldcom, Adelphia, and all the recent companies who had little or no regulation. |
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TKJunkMail
Enjoy the sun
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join:2002-03-03
Avalon, NJ
 ·Sprint Mobile Broa..
·Comcast
|  The scope of the FCC's investigation was broad, seeking data going back to 2006. "After reviewing their request for information, we determined that it would have taken over 1,500 man hours just to compile the information for 2008."
"We stand ready to work with them and to see how best to proceed from this point. The amount of information was so substantial and the amount of time very short," the Comcast spokeswoman said. And people wonder why businesses, both large & small, hate regulatory agencies. It is the cost of providing huge amounts of info to feed the bureaucrats constant demands for data and then waiting interminably for OKs to do anything. This isn't just the FCC, but the dozens of agencies that a business has to satisfy to do anything.
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