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Strange Sales Numbers Can Leave a Sour Taste

On March 10, 2003, Bristol-Myers Squibb Co. announced they had overstated sales by $2.5 billion for the years 1999 to 2001 by encouraging wholesalers to purchase more drugs than they could sell. To say this is incredulous is an understatement.

The company’s chief executive has been blamed for a plunging stock price, and I can see why. In his long-awaited restatement of earnings, he said the changes in figures were due to "errors and inappropriate accounting." Where have we heard this before?!? It’s situations like this that we’ve seen over and over again for the past few years – and it leads me to believe that our booming economy in the ‘90’s wasn’t so much of a boom after all, but more of a puffery.

With past lies and deceptions still coming out of the woodwork, one can only wonder where it will stop.

I believe in capitalism: It’s the most effective economic model ever devised. But what some people obviously need to learn is a capitalistic society thrives on more than just a desire for more, more, more. To be truly successful, we have to start with (and maintain) honesty and integrity.
     
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