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Re: Arsenal declare financial results
Posted by: RadioFreeArsenal
Date: 28/02/2012 17:17
Madness to those who assume football clubs can only operate using certain logic.

The fact is we see this all the time. Look what happened with BP in the Gulf. the could have spent one one- hundreth of one percent of their profits at the time and avoided the disaster in the Gulf which caused so much damage to the environment and cost so many smaller biusinessmen so much more financially as well. Did they care about that possibility then? No not enough. And now they are making profits again so they care don't care now either.

Companies can underinvest in quality control or just production quality to make the profit margin bigger. They can put out products of poorer quality for the same of higher prices even. They can put out cars without properly made equipment. They can overwork pilots against safety rules. They can ignore the dangers of older and worn out safety equipment. They can let their products be made with swaetshop labor in countries with no regard for the welfare of the workers of the safety of the communties around their place of work.

Why? Not because they and their companies couldn't survive any other way but because they couldn't make as big a profit any other way. And that profit couldn't be manipulated to enhance their personal wealth.
Making money from money is the new way to get rich or even super-rich. If you think Arsenal's money couldn't be manipulated that way, how could our share price go up 15,000 GBP since 2002, and almost 12,000 GBP just since 2005? Especially if we can't even afford to match our net spend from 1998-2005 because of how uncertain our financial position actually is as you suggest.

It rings of Enron, the ultimate example of making money from money though in the end they got greedy and started making money from money that didn't actually exist and that is how they got caught, as with Bernie Madoff and other Ponzi Schemers. I don't think we are looking at the same sort of criminal thing here at Arsenal, but a similar breech and lapse, of business ethics and morals symptomatic of the post 80's right-wing de-regulatory do whatever it takes for your own benefit mentality over-taking our Club's leadership.

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