Johnson & Johnson fined $2.2bn

TarJak · 11-05-13, 02:31 AM

http://www.abc.net.au/news/2013-11-0...kbacks/5070346

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

Jimbuna · 11-05-13, 03:19 AM

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

kraznyi_oktjabr · 11-05-13, 04:12 AM

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!

TarJak · 11-05-13, 06:58 AM

Quote:

Originally Posted by 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!

The shareholders will be.

Herr-Berbunch · 11-05-13, 08:09 AM

Luckily they have their 'no more tears' formula.

Bilge_Rat · 11-05-13, 09:33 AM

Quote:

Originally Posted by TarJak

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.

ps - one of the best movies about Wall Street:

TarJak · 11-05-13, 04:06 PM

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.

11-05-13, 02:31 AM	#1
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	Johnson & Johnson fined $2.2bn http://www.abc.net.au/news/2013-11-0...kbacks/5070346 Will the head honchos lose their jobs and bonuses over this? Will they f...

11-05-13, 03:19 AM	#2
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,500 Downloads: 63 Uploads: 13	Might mean a slight dip in bonus payments but I reckon those poor folk will struggle through it and survive __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

11-05-13, 04:12 AM	#3
kraznyi_oktjabr Sea Lord Join Date: Mar 2010 Location: Republiken Finland Posts: 1,803 Downloads: 8 Uploads: 0	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! __________________ You talk to God, you're religious. God talks to you, you're psychotic. - Dr. House

11-05-13, 08:09 AM	#5
Herr-Berbunch Kaiser Bill's batman Join Date: May 2010 Location: AN72 Posts: 13,203 Downloads: 76 Uploads: 0	Luckily they have their 'no more tears' formula. __________________

11-05-13, 04:06 PM	#7
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	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.