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PeopleShell
from the watch-the-tricky-accounting-at-work dept
Here's a fun one if you're looking for ways in which companies hide money. PeopleSoft has been using a shell company to hide the costs of developing their latest software suite. The company has only one employee, but still ate up $250 million of the cost of building PeopleSoft 8. It's basically a way to hide the costs, so that PeopleSoft's profit looks better. Yet another reminder to never trust accounting statements unless you really know what's going on.
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I wonder...
At the moment they're completely overvalued at ~$40
not very impressive for a company attempting to bill themselves with SAP, Oracle and other *real* heavy hitters.
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Re: I wonder...
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