"Bryan doesn't drive a 1M" (bryantakespictures)
10/12/2016 at 12:10 • Filed to: None
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"Bryan doesn't drive a 1M" (bryantakespictures)
10/12/2016 at 12:10 • Filed to: None | 7
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When reporting on corporate fines against large companies such as Verizon, Wells Fargo, BP, etc., please specify how long it takes said company to earn the amount of the fine.
For example, the recent FCC fine of Comcast of $2.3 MILLION sounds like a whole bunch of dollars, until you see that their revenue for 2015 was $74.5B. That means it took them about 16 minutes to make the money to pay the FCC fine.
But I’m sure they learned their lesson...
SidewaysOnDirt still misses Bowie
> Bryan doesn't drive a 1M
10/12/2016 at 12:18 |
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Revenue doesn’t include operating costs. Comparing it to profit would be more accurate in which case it’s still not terribly long, but more of an impact than that.
ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)
> Bryan doesn't drive a 1M
10/12/2016 at 12:24 |
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I am Eleventy Brazillian percent positive they learned their lesson; they will absolutely do their best not to get caught next time.
RamblinRover Luxury-Yacht
> SidewaysOnDirt still misses Bowie
10/12/2016 at 12:29 |
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Exactly the point I was going to make. Even a comparison to profit is awkward (almost nothing in Hollywood earns a profit officially, they say), but revenue is the wrongest wrongness.
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SidewaysOnDirt still misses Bowie
> ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)
10/12/2016 at 12:31 |
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They learned which regulations they need to lobby against.
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Bryan doesn't drive a 1M
> RamblinRover Luxury-Yacht
10/12/2016 at 12:35 |
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Profit would be fine, too, but there are lots of games to be played when it comes to reporting profit. Revenue is a simpler measure of how much money comes in over time.
If we are truly talking about how much “pain” the company feels, the PR damage is usually far worse than any FCC fine, but that’s harder to measure.
samssun
> Bryan doesn't drive a 1M
10/12/2016 at 12:48 |
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There are companies with 50% profit margins (turn a million bucks to make 500k), and ones with 2% margins (bring in 25M and by the time you pay suppliers, huge union contracts, infrastructure, etc you make the same 500k).
A fine tied to revenue that goes straight to suppliers and wages, just like the various proposed taxes on revenue politicians love cause they’re such huge dollar amounts, is a great way to send low margin businesses under.
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Bryan doesn't drive a 1M
> samssun
10/12/2016 at 13:02 |
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That’s a good point, and I agree that the fine should be based on profits. I just think reporters need to do something to put fines like this in context. Comparing to profit instead or revenue works too, but just reporting $2.3 million means nothing. That’s a lot of money for
me
or a small business, but not for Comcast.
Noah - Now with more boost.
> Bryan doesn't drive a 1M
10/12/2016 at 13:18 |
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It’s really disappointing that the media is more interested in creating drama than explaining things well. This is yet another example.
gmporschenut also a fan of hondas
> Bryan doesn't drive a 1M
10/12/2016 at 21:32 |
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similar to a stadium that kept selling to a guy after he should have been cut off and was fined 1mil. Some said it was excessive, till they said that was the revenue from 3 games.