> Another popular investor fraud scheme is to prop the company up by
coming
> up with a lucrative project, hiring all sorts of highly qualified
people, and
> then flooding the industry with press releases. Jerry Steiner of Fairchild
> ...
> Beware of any company whose greatest product is press releases, such as
> ParkerVision. One look at their first three or four patents will tell you
> everything.
>
> Chris
Wow, it just gets worse and worse, doesn't it? I wonder what this means
for those of us who currently own Olympus digital cameras. Of course they
will continue to take pictures just as good as before the story broke. But
what about when they need service? Will there still be a service
department? If they're bought, will the new owner have any obligation to
the old customers, and for how long?
If I had known about the scandal two months ago, I might have made a
different decision than to upgrade to the E-30 and keep my current digital
Zuiko lenses.
Re. the general situation, it's interesting that the U.S. ceded its
manufacturing base to the Japanese in the 60s and 70s. Deal-making became
our primary product, to our detriment. Now there are reports that the
Olympus scandal may just be the tip of the Japanese iceberg. It's pathetic
to see how so many people who run companies seem to quickly decide that
making good stuff is for suckers, and it's far more lucrative to use the
stuff-making as a front for the real business, which is financial
finagling.
The deal-makers and the finaglers jack up the ante for everyone else,
making it a self-fulfilling prophecy that the only way to make a living is
to game the system.
--Peter
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