Berto 'd Sera wrote:
My observation would be that it is exactly the
publicly traded companies
that the financial pages are concentrated on.
Besides... in many countries the same companies do OWN the media that are
publishing info about them. Not always in the open, from Italy you get
accounts of a total of several hundred people sitting in ALL main national
Boards. Even if the companies are legally independent from each other you
can hardly expect Mr. X to attack company Y from company K, since he is
sitting in company's Y Board himself...
Interlocking Board membership is certainly worth writing about, and not
just in Italy. So too are ownership patterns of subsidiaries who are
themselves owned by other companies. So too are the relationships of
big-name sportswear companies to third world manufacturers using
low-paid child labour to produce high price goods. That whole corporate
world is completely alien to believers in open economics.
Drawing up other people's money to pay one's
CEO salary can hardly be used
as a criterion for excellence. But it's hard to find one that would fit.
Enron and Parmalat did look stable, didn't they? Most such monsters are
certified by friends of relatives of friends... so if all you want is nice
data you'll get tons of it :)
I'd say that the safer thing for an encyclopedia would be avoiding judgments
altogether. Pointing users toward an article explaining what criteria are
basically used by banks and agents to attract consumers' money would be far
There's more to writing about companies than such POV exposés.. We also
need to know which compnies are taking unfair advantage of witless
investors and consumers. Having unduly rigid entry requirements for an
article about a company leaves us trying to put together a jigsaw puzzle
with half of the pieces missing.
Everything else is 100% POV. Maybe a fortunate POV that
can make you a rich
man, but nevertheless it's POV. Financial reports are made to meet fiscal
and marketing requirements, what sort of objectivity would you expect from a
capitalistic version of the soviet Pravda? :))))
Financial reports say what they say. Your desire to substitute your POV
about companies for theirs does nothing to advance knowledge of
companies. Our coverage of corporations is seriously deficient.