HP Skates Away From SEC Charges 80
theodp writes "The SEC has dropping charges against HP, in return for some small concessions. The company was originally charged with improperly depriving investors of important information, violating the public reporting requirements of the Securities Exchange Act, and failing to disclose the full impact of an out-of-control press leak investigation. In return for the dropped charges, the computer maker simply agreed to cease and desist from doing similar acts in the future, without admitting or denying having done so in the past. 'HP acted in what it believed to be a proper manner,' said the company in a press release."
Disgusting... (Score:5, Interesting)
Phillips, TRW, and Koch have more in common than a history of repeatedly violating workplace and environmental laws. They also rank among the nation's largest government contractors. Between 1995 and 2000, the three corporations received a combined total of $10.4 billion in federal business-at the same time that regulatory agencies and federal courts were citing the companies for jeopardizing the safety of their employees, polluting the nation's air and water, and even defrauding the government.
That's not supposed to happen. Federal contracting officers are charged with reviewing the record of companies that do business with the government and barring those that fail to demonstrate "a satisfactory record of integrity and business ethics." But officials are given no guidelines to follow in making such decisions, and there's no centralized system they can consult to inform them of corporate wrongdoing. As a result, a government report concluded in 2000, those responsible for awarding federal contracts are "extremely reluctant" to take action, even when they are aware of violations. And in the rare instances when the rule is enforced, it is almost always employed against small companies with little clout in Washington.
There is little incentive for any company to follow laws of the law. Why should they when they can get a slap on the wrist and a wink of the eye... "You don't go doing that again now you here... By the way, we really like those HP notebooks and I was thinking about my son's classmates". Jesus christ this country is a scam in itself
better headline (Score:2, Interesting)
Keep in mind that it wasn't long ago that a bill legalizing pretexting was pushed by the RIAA [arstechnica.com].
Please stop buying HP stuff. Please stop buying stuff from companies that have a political axe to grind against their consumers. Please stop buying stuff from companies that consider consumers a silent, renewable, god given, right to exploit resource that simply keeps buying their dreck regardless of their political behavior.
Start voting (because you haven't been at the polls). Boycott HP.
Re:Did they have those shoes with built in skates? (Score:2, Interesting)
What would happen if I failed to file my taxes ! I get in deep trouble and would probably be hung from the state building by the IRS workers , via Lord of the Fly like hordes , but yet these guys just feel like they shouldn't have to report even the little things.
As an Hp stock holder this affects me. This is a major reason why most americans are starting to see investing in US companies a waste. They are not being "nice neighbors" any more.
"It stinks And I don't like it" - Surly Truck Driver from Spiderman movie.