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The record discloses a striking absence of satisfactory evidence of the actual cost of the company's properties; its funded indebtedness; the actual investments of stockholders in the company; profits in past years; and the percentage of past profits to actual investment.
He notes that a "portion" of that price is coming from MSNBC's past profits, although it's not clear whether it is a profitable operation at the moment.
Good to see #Google paying more tax on past profits.
Josh also notes that this kind of inflation does very interesting things to past profits.
A portion of the total price comes from the joint venture's past profits.
"Good to see Google paying more tax on past profits," Mr Osborne tweeted.
Similar(23)
The financial environment for banks and brokerage firms remains sickly, with past profit generators like trading, underwriting and advising all slumping.
The payment of $1 billion, most of which was in an escrow account, covers past profit-sharing fees that Andersen Consulting refused to pay while the arbitration was continuing.
Baker Hughes Inc., which provides services to the oil industry, said yesterday that it would restate earnings for several years, reducing past profit by $31 million, because of accounting errors at its Inteq drilling unit.
There is no reason to subscribe to any of the theories asserting that simply because, in the past, profit recessions have been followed by economic recessions, that must necessarily be true this time.
The situation facing Centrica, SEE and other large utilities has become more fraught since Ofgem and the Competition and Markets Authority expressed deep concern about past profit levels and the continuing domination of both power and supply markets by the vertically integrated companies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com