Sour Grapes

Sour Grapes

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Opinions are the author's and are not necessarily shared by Blogger, SDF, my employer or my family, but they should be.

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Results of 2 Nov 2004 General Election (winners in bold; click on office for more detail)

PA State House of Representatives—152nd District
- Ross Schriftman (D)
- Sue Cornell (R-incumbent)
State Attorney General
- Jim Eisenhower (D)
- Marakay Rogers (Green)
- John Ewbank (Libertarian)
- Tom Corbett (R)
State Auditor
- Jack Wagner (D)
- Ben Price (Green)
- Berlie Etzel (Libertarian)
- Joe Peters (R)
State Treasurer
- Max Lampenfeld (Constitution)
- Robert Casey (D)
- Paul Teese (Green)
- Darryl Perry (Libertarian)
- J. Craige Pepper (R)
US House of Representatives—13th District
US Senate
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2009-04-23

When does GM count its cars as being "sold"?

In recent discussions of General Motors' plan to shut down factories for up to nine weeks this summer, I heard that GM recognizes revenue when vehicles are manufactured, not when they're sold. If I heard correctly, this practice is in accord with reporting standards set by the Financial Accounting Standards Board (FASB), who proclaim�apparently on every page of their website�that they are "serving the investing public through transparent information resulting from high-quality financial reporting standards, developed in an independent, private-sector, open due process."

I just have a couple of questions. The ability to report revenue in this way serves the investing public how? Do we need any more evidence that big business is vastly under-regulated?

Original post by Hugh at 4/23/2009 10:17:00 AM Eastern time :: 0 comment(s) :: links to this post

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