The wife and I took our great-niece to Disneyworld back in April.
With the kind of money we shelled out for food and merchandise, (IOW, everything was over-overpriced), I’m surprised that Accounting Department had to resort to account tricks to inflate revenue.
Gee, you wonder about something like this when a few years ago, they laid off a good number of their tech staff to replace them with foreign nationals that they could pay that good bit lower. All of that despite recording record profits.
True....but....not all whistle blowers are truth tellers
It does seem the SEC is looking...but still....
Just add the SEC to the list of corrupt Gubment agencies.
You can overstate income for a year or two but eventually it becomes obvious that the income generated doesn’t exist in any hard assets.
Did the spokesperson identify as a woman?
How mickey Mouse!
The Disney family needs to come back and take control.
Ping.
Big deal. Harry Markopolos was all over Madoff and reported him to the SEC for years...lotta good THAT did.
Like ALL government, the SEC is corrupt.
This is the kind of thing a CEO wouldn’t want to acknowledge. If fake revenue, then pay and bonuses for years were fraudulent. If he was to quietly amend the accounting, his first few years using real numbers would pale by comparison leading to downward guidance in the financial press, and further deterioration in stock performance.