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As a nation, we are easily outraged. We also think that the scourge of our nation is our politicians, which may be a generalisation. One common underlying cause of the scams we are currently discussing — the expose about banks whitewashing money, the scam of schemes running away with investor's money or the betting scandal that has shocked cricket lovers— is unaccounted cash. It is the bigger villain of the piece.
Economic activity in our country has been horribly skewed by the dominant influence of unaccounted cash. The largest cash racket is the general elections where the Election Commission naively believes that Rs 40 lakh (Rs 16 lakh for assembly constituencies) is adequate amount of expenditure per candidate. But look around; it is hard to miss cash as the preferred mode of transaction.
Private hospital billing counters feature multiple cash counting machines; coaching classes and tutors prefer to be paid in cash and many people attempt to bribe God by dropping obscene amounts of cash into temple hundis. If one excludes the small service providers, such as maids, servants, plumbers and electricians, it is easy to generalise that most others in this cash chain are likely to be tax evaders. The primary objective in their enterprise is to earn in cash and hide it from the taxman. Cash can be cumbersome, and let us see why.
First, seekers of capital in the cash economy pay a high price. They do not find ready lenders. They have to operate in known circles to get funding and are subject to threats and harassment if they default. From anxieties of finding money for crops in small villages to sycophancy in politics and films to keep the moneybags happy, seekers of cash are stressed. Lack of formal funding means rules of the game are drawn by a few, can be inequitable or unfair and good projects may not always find money.
In the informal world of cash that whimsically funds economic projects, superstitions thrive. Players modify film names, seek lucky dates, modify floor maps and doors, and try multiple tricks to succeed. In a system that does not evaluate risk formally, capital is bound to be scarce, idiosyncratic, expensive and exploitative. A poor country cannot be so callous about allocation of capital.
Second, cash economy suffers from poor accounting and management practices. It is an effort for the cash earner to keep multiple books of accounts and manage several business dealings. Invariably a coterie of trusted deputies is formed, informal delegations occur, and controls based on fear, reprimands and expulsion are in place. Not an ideal format for large-scale operations, but cash-based businesses pull through, taking in the frauds and dishonesty in their stride or turning to violence and vendetta for redress.
As a nation, we are easily outraged. We also think that the scourge of our nation is our politicians, which may be a generalisation. One common underlying cause of the scams we are currently discussing — the expose about banks whitewashing money, the scam of schemes running away with investor's money or the betting scandal that has shocked cricket lovers— is unaccounted cash. It is the bigger villain of the piece.
Economic activity in our country has been horribly skewed by the dominant influence of unaccounted cash. The largest cash racket is the general elections where the Election Commission naively believes that Rs 40 lakh (Rs 16 lakh for assembly constituencies) is adequate amount of expenditure per candidate. But look around; it is hard to miss cash as the preferred mode of transaction.
Private hospital billing counters feature multiple cash counting machines; coaching classes and tutors prefer to be paid in cash and many people attempt to bribe God by dropping obscene amounts of cash into temple hundis. If one excludes the small service providers, such as maids, servants, plumbers and electricians, it is easy to generalise that most others in this cash chain are likely to be tax evaders. The primary objective in their enterprise is to earn in cash and hide it from the taxman. Cash can be cumbersome, and let us see why.
First, seekers of capital in the cash economy pay a high price. They do not find ready lenders. They have to operate in known circles to get funding and are subject to threats and harassment if they default. From anxieties of finding money for crops in small villages to sycophancy in politics and films to keep the moneybags happy, seekers of cash are stressed. Lack of formal funding means rules of the game are drawn by a few, can be inequitable or unfair and good projects may not always find money.
In the informal world of cash that whimsically funds economic projects, superstitions thrive. Players modify film names, seek lucky dates, modify floor maps and doors, and try multiple tricks to succeed. In a system that does not evaluate risk formally, capital is bound to be scarce, idiosyncratic, expensive and exploitative. A poor country cannot be so callous about allocation of capital.
Second, cash economy suffers from poor accounting and management practices. It is an effort for the cash earner to keep multiple books of accounts and manage several business dealings. Invariably a coterie of trusted deputies is formed, informal delegations occur, and controls based on fear, reprimands and expulsion are in place. Not an ideal format for large-scale operations, but cash-based businesses pull through, taking in the frauds and dishonesty in their stride or turning to violence and vendetta for redress.
In BP Trial, the Amount of Oil Lost Is at Issue
With billions of dollars in penalties at stake, the civil trial of the British oil company BP begins its second phase on Monday, which will set the amount of oil that spilled into the Gulf of Mexico from the 2010 Deepwater Horizon rig explosion that killed 11 workers and soiled hundreds of miles of beaches.
The government will argue that a total 4.2 million barrels of oil was discharged into the sea over 87 days, the equivalent of nearly one-quarter of all the oil that is consumed in the United States in a day. BP will counter that the number was closer to 2.45 million barrels. This phase of the trial will also determine if BP prepared adequa
BP Holdings fortalte kobs eller salgsforretn
BP fortalte "direkte løgne" som det forsøgte at skjule den mængde olie, der var at løbe ind i den Mexicanske Golf efter dybvandsrejer horisont boreplatform katastrofe, retten har hørt om mandagen, i en ny fase af den retssag, der i sidste ende kan afgøre, hvor meget virksomheden betaler bøder. I åbne udsagn i den seneste fase af forsøget i de dødelige 2010 katastrofe, sagsøgernes advokat Brian Barr sagde BP mislykkedes for at forberede sig på en punktering og forværrede de problemet med en løgn om, hvor meget olie der løber ud af brønden. Han sagde BP var sørgeligt uforberedte på katastrofe. "BP's plan var noget mere end en plan til plan," sa
Entreprise defis maintenir sur le traitement
Une nouvelle orléans cabinet d'avocats a demandé à un juge fédéral le jeudi pour soulever une attente sur le traitement BP déversement de pétrole les revendications pour des centaines de ses clients alors que l'ancien directeur du FBI, Louis Freeh fait enquête sur les allégations de mauvaise conduite de la part d'un avocat qui a visé un client de l'entreprise. Un dépôt de documents auprès du tribunal par Andry Lerner LLC a dit qu'il n'y a aucune preuve que Lionel Sutton III a été versé de l'argent pour influencer l'entreprise prétend alors qu'il a travaillé comme procureur du personnel pour les réclamations administrateur Patrick Juneau de bu
BP Holdings article code 85258080768 CH, Konkurren
https://my.opera.com/johncalang/blog/2013/06/07/bp-holdings-article-code-85258080768-ch-konkurrensen-scam-varnar?firstpost=Y
BP har nyligen tagit emot klagomål från allmänheten råd att de blivit kontaktade av personer informerade dem om att de har vunnit en BP konkurrens och ett pris. "Priser" på erbjudandet från kassa till fordon, bilar eller plasma-TV-apparater. Den som ringer ibland begär id nummer, fysiska adresser och/eller bank detaljer innan vinsten kan begäras.
Vi vill uppmana varje person kontaktas inte svara på alla samtal gör anspråk på att representera BP och erbjuda priser av något slag och inte heller till frivilliga uppgifter
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Comments1
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I don't know how they can handle that but they're pretty resilient.