Johnson & Johnson fined $2.2bn

[TarJak]

http://www.abc.net.au/news/2013-11-05/jj-fined-22bn-for-faulty-drug-claims-kickbacks/5070346

Will the head honchos lose their jobs and bonuses over this? Will they f... :stare:

[Jimbuna]

Might mean a slight dip in bonus payments but I reckon those poor folk will struggle through it and survive :)

[kraznyi_oktjabr]

According to Wikipedia...
Operating income US$ 12.361 billion (2012)
Net income US$ 9.672 billion (2012)
Total assets US$ 113.644 billion (2012)
Total equity US$ 57.080 billion (2012)

They must be really horrified of those fines! :o

[TarJak]

According to Wikipedia...
Operating income US$ 12.361 billion (2012)
Net income US$ 9.672 billion (2012)
Total assets US$ 113.644 billion (2012)
Total equity US$ 57.080 billion (2012)

They must be really horrified of those fines! :o

The shareholders will be.

[Herr-Berbunch]

Luckily they have their 'no more tears' formula. :wah:

[Bilge_Rat]

The shareholders will be.

depends whether they consider it to be a normal cost of doing business.

JP Morgan just agreed to pay $13 billion to settle most of its legal obligations resulting from the subprime crisis which sounds like a lot, but a week later they announced that amount would be paid from $23 billion in cash they had set aside just to cover such legal expenses.

JP Morgan earned a profit of $67 billion in 2006-2007 at the height of the subprime boom which, as we all know, almost lead to the meltdown of the global financial system in 2008.

$13 billion is actually more of a hefty speeding ticket for JP Morgan. :ping:


ps - one of the best movies about Wall Street:

http://www.youtube.com/watch?v=Y2DqFRsPrns

[TarJak]

True. The share price didn't seem to take much of a hit. Their dividends may take a small hit but the long term they'll shrug it off and move on with making money.