FCA Investigation Finds Inflated Sales/update page 2

FCA said today their sales streak actually ended in 2013. They also said that since 2011 they under reported sales by 19,000 vehicles.:h Detroit Free Press

They don't have to be retired for this fraud to hurt them. Anyone with or building a retirement fund or virtually any other saving account sharing in national, mutual, or even local fund investments can and will be hurt by this fraud. If you don't realize this, you likely don't have any real investments for your future!

I certainly hope they thoroughly investigate at least for the last 10 years period of and for these activities as just one year (the most recent) is so easy to hide info or alter paperwork accountings to lessen the actual fraud numbers. No way did it just occur during just the last 1 year!

JIMNLIN wrote:
Hmmmm........ read the article however how does all this help a member select a proper tow vehicle for his castle on wheels ???

This web needs a forum just for troll threads like this one....JMO !!

X2 Wow, a lot of you guys must be retired. Way to much time on your hands. Jump in the RV and go.

I just wish they were more specific about the stories. It sounds like two different issues. This story seems to be about retail sales. One of the articles I read earlier, which I cannot find now, suggested FCA was fudging the dealer delivery numbers in return for advertising allowances. These vehicles not delivered to the dealers were then backed out after month end.

The integrity of any company matters, cheaters cheat everyone

This hurts you if you have a pension, if you have a child in college or planning on going to college, if you invest in a mutual fund, etc. All those entities invest in companies. If a company's financial and sales data is fraudulent, eventually that information comes home to roost and the value of the company drops, lowering the value of your pension fund, your child's college endowment fund and your mutual fund.
In Fiat's case, it isn't about 6000 sales, it's about trends. If they were claiming 6000 additional retail sales of Fiat cars, they might be attempting to show that Fiat cars are selling MUCH better than they really are. That would be significant. They may also be trying to cheat their fleet MPG ratings by reporting fake sales of high mileage cars. This could have serious legal ramifications for FCA.

mich800 wrote:

3oaks wrote:
What difference does it really make accept to share holders of the corporations? :h

Right, fraud never hurts anyone but shareholders...:h

From innocent employees that lose their jobs to worst case scenarios like Enron.

Not that this is the case here but shareholders are not the only ones to feel the impact of things like this.

If actual sales were down, employees would be laid off regardless of the fictitious numbers reported. :@

Enron? Completely different scenario. :R

Fraud hurts everyone? It sure does. As we are finding out more every day, thanks to WikiLeaks and/or the Russians, our whole federal election process is a fraud! :E

Car dealers don't lie, or mislead.

Hmmmm........ read the article however how does all this help a member select a proper tow vehicle for his castle on wheels ???

This web needs a forum just for troll threads like this one....JMO !!

mich800 wrote:

From innocent employees that lose their jobs to worst case scenarios like Enron.

I often wonder what distant island W allowed Ken Lay to go live his life out on! His announced death was way to convenient.