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Aug 24th, 2023
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Joined: Sep 2011
Posts: 14,723 Likes: 149
Member of the Inner Circle
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OP
Member of the Inner Circle
Joined: Sep 2011
Posts: 14,723 Likes: 149 |
Rolls-Royce posts biggest loss in its history Currency costs from Brexit vote and bribery case settlement force record £4.6bn statutory pre-tax loss for 2016. https://www.theguardian.com/business/201...bribery-charges
Peter ![[Linked Image]](http://bradley.it/public_images/drive.jpg)
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Joined: Jul 2007
Posts: 26,759 Likes: 424
Member of the Inner Circle
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Member of the Inner Circle
Joined: Jul 2007
Posts: 26,759 Likes: 424 |
The bribery thing is particularly worrying.
Hopefully all the dirt is now out.
JohnV6
2022 CX Plus Four
2025 MG ZS EV aka Trigger
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Joined: Nov 2016
Posts: 400
Learner Plates Off!
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Learner Plates Off!
Joined: Nov 2016
Posts: 400 |
Their export business is booming though, time will tell I guess how this all pans out
Superdry
76 Fizzy
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Joined: Jun 2014
Posts: 11,610 Likes: 43
Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
Posts: 11,610 Likes: 43 |
The bribery thing is particularly worrying.
Hopefully all the dirt is now out. All the large US and UK defense and aeronautic manufacturers were at it This is nothing compared to what some US companies have had to pay
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
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Joined: Jun 2014
Posts: 11,610 Likes: 43
Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
Posts: 11,610 Likes: 43 |
The more incredible thing is that they still have an underlying profit
If I was a broker - i would recommend a buy
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
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Joined: Sep 2016
Posts: 1,001 Likes: 23
Has a lot to Say!
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Has a lot to Say!
Joined: Sep 2016
Posts: 1,001 Likes: 23 |
The bribery thing is particularly worrying.
Hopefully all the dirt is now out. The dirt will never be out. It's quite simple and I'd call it commission rather than bribery. It may be unpalatable but it's "normal" practice in some parts of the world. It's a case of no under the table payment, no sale. If Rolls Royce wished to compete in those markets they really didn't have any choice.
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Joined: Aug 2011
Posts: 7,553 Likes: 88
Talk Morgan Guru
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Talk Morgan Guru
Joined: Aug 2011
Posts: 7,553 Likes: 88 |
Totally agree paying "agents commission " is a way of life for any company wishing to win overseas contracts in many parts of the world.
Bud
4/4 "Stanley"
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Joined: Feb 2012
Posts: 5,653 Likes: 4
Charter Member
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Charter Member
Joined: Feb 2012
Posts: 5,653 Likes: 4 |
The bribery thing is particularly worrying.
Hopefully all the dirt is now out. The dirt will never be out. It's quite simple and I'd call it commission rather than bribery. It may be unpalatable but it's "normal" practice in some parts of the world. It's a case of no under the table payment, no sale. If Rolls Royce wished to compete in those markets they really didn't have any choice. I worked for RR at the time and this was definitely the case. No commissions no orders.
Martin (Deano)
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Joined: Oct 2012
Posts: 6,538
Talk Morgan Sage
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Talk Morgan Sage
Joined: Oct 2012
Posts: 6,538 |
When I ran a big business we had a major National Oil Company as a client.
One day the police called - our Client had been arrested for fraud.
He was "persuading" suppliers to pay a "commission" direct to a bogus company in return for contracts.There was a lot of money involved!
We were squeaky clean.
Our Client went to prison and had a great career totally ruined.
The point being its not just overseas that things are often bent!
Last edited by RoadsterBoy; 14/02/17 05:17 PM.
Neil
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Joined: Nov 2011
Posts: 39
Just Getting Started
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Just Getting Started
Joined: Nov 2011
Posts: 39 |
A bit misleading,they are getting a bonus payment for the first time in three years!
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