Sarbanes/Oxley

[bobblehead]

Time to repeal some bad legislation. This is apolitical as both sides share some serious blame on this one.

http://newt.org/tabid/102/articleType/ArticleView/articleId/3837/Repeal-SarbanesOxley.aspx

[Bossman641]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

[arcilite]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

I was an econ major, but in all my classes I only heard good things about this as well.

[mraynrand]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

I was an econ major, but in all my classes I only heard good things about this as well.

Did you ever wonder why?

[Patler]

Legislation that seemed very good in theory at the time it was passed and initially thereafter, but has very significant and unforeseen consequences that were not intended and not desired. An example of why trying to legislate honesty often punishes the honest instead of or in addition to controlling the dishonest.

[bobblehead]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

I was an econ major, but in all my classes I only heard good things about this as well.

did you click on the link and read it?? If you did and you have an econ degree you should understand why its not so hot in hindsight.

edit: this is one more case of legislation that holds the little guy down....the overwhelming financial impact of this bill makes sure that gex will never own a public company, but guys born into money and having money will be able to weed through the red tape. with this and other legislation making it so difficult to start up a big enterprise we will be stuck working for the man for a long frickin time.

[ThunderDan]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

I was an econ major, but in all my classes I only heard good things about this as well.

did you click on the link and read it?? If you did and you have an econ degree you should understand why its not so hot in hindsight.

edit: this is one more case of legislation that holds the little guy down....the overwhelming financial impact of this bill makes sure that gex will never own a public company, but guys born into money and having money will be able to weed through the red tape. with this and other legislation making it so difficult to start up a big enterprise we will be stuck working for the man for a long frickin time.

The question today is who wants to start a publically traded company? The majority of my clients all own their own business or corporation. None of them fall under SAR/OX rules. But many are afraid if the rules would get expanded to include privately held corporations.

[bobblehead]

I'm interested to hear Retailguy's thoughts on this. I went through undergrad in accounting right after SOX was passed. All they kept telling us was how great it was.

I do auditing now, but we only do small private companies so I don't know anywhere near as much about SOX as I should. I can worry about that all later.

I was an econ major, but in all my classes I only heard good things about this as well.

did you click on the link and read it?? If you did and you have an econ degree you should understand why its not so hot in hindsight.

edit: this is one more case of legislation that holds the little guy down....the overwhelming financial impact of this bill makes sure that gex will never own a public company, but guys born into money and having money will be able to weed through the red tape. with this and other legislation making it so difficult to start up a big enterprise we will be stuck working for the man for a long frickin time.

The question today is who wants to start a publically traded company? The majority of my clients all own their own business or corporation. None of them fall under SAR/OX rules. But many are afraid if the rules would get expanded to include privately held corporations.

But what if one of your clients managed to come up with such a dominant business model that he wanted to take it national....good luck going public, and even if you do, that 4+ million is going to cut into the profits a bit. Good news though, the lawyers make out big as he is going to need a legion of them to cut through the red tape.

[HowardRoark]

The question today is who wants to start a publically traded company?

Don't most people come up with an idea, start a company, and then for any of a number of reasons, decide to take it public? I have never heard of "starting" a publically traded company. Although I may have misread your meaning.

[ThunderDan]

The question today is who wants to start a publically traded company?

Don't most people come up with an idea, start a company, and then for any of a number of reasons, decide to take it public? I have never heard of "starting" a publically traded company. Although I may have misread your meaning.

Unless you need the massive money of a public offering it is much easier to keep the comapny private. Sub-Zero is a prime example in WI and nationally. Owned by the same family for generations, Compete and are considered the "top" of the line in their industry. Have not needed to go public to generate cash.