PeopleShell
from the watch-the-tricky-accounting-at-work dept
Here's a fun one if you're looking for ways in which companies hide money. PeopleSoft has been using a shell company to hide the costs of developing their latest software suite. The company has only one employee, but still ate up $250 million of the cost of building PeopleSoft 8. It's basically a way to hide the costs, so that PeopleSoft's profit looks better. Yet another reminder to never trust accounting statements unless you really know what's going on.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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I wonder...
At the moment they're completely overvalued at ~$40
not very impressive for a company attempting to bill themselves with SAP, Oracle and other *real* heavy hitters.
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Re: I wonder...
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