Glocks Secret Path to Profits - ARTICLE-

[misconfig]

Glock's Secret Path to Profits - BusinessWeek

 

[BE Mike]

Quite a story of power, greed and corruption. It does sound like the company was pretty much out of control. I wonder if there will be further developments? The pistols do seem to be overpriced for what they are. If any of these allegations prove true, there will be a good explanation as to why. One interesting part was the statement that money at Glock, Inc. was flying around like "monopoly money".

 

[bigcraig]

tag

 

[Denny347]

Hmmm, is it me or does that article not read like it was professionally researched. Something just doesn't feel right with it. I dono.

 

[phrozen5100]

"In a 1994 patent lawsuit in the U.S., Glock estimated its profit margin per pistol at 68%."

Not too shabby...

 

[Turn Key]

Great article -- Rep'ed Bro...

TK

 

[The Meach]

hence the reason i bought Beretta

 

[Kirk Freeman]

Life Lesson: if you succeed in this life, people will envy and hate you and spend time trying to bring you low.

This applies to individuals as well as corporations.

Oh, noes! A corporation trying to avoid paying taxes! How horrible.

 

[HICKMAN]

doesn't mean a thing to me, I still use Microsoft products too...

 

[HICKMAN]

hence the reason i bought Beretta

that makes no sense what so ever.

If you had said you'd bought some other striker-fired polymer, then it'd make sense.

 

[misconfig]

doesn't mean a thing to me, I still use Microsoft products too...

I'm sorry, you know; about using M$ products :'(

 

[Yamaha]

Hmmm, is it me or does that article not read like it was professionally researched. Something just doesn't feel right with it. I dono.

it doesn't sound researched at all....lol

 

[Bigum1969]

I love my Glocks!

You could dissect almost any large and successful company and find similar stories of intrigue.

 

[Indecision]

Even if most of it's true. I doubt there's much difference between their story and most other large companies.

 

[rmcrob]

Woopty hoopty. I'm buying pistols, not stock. I love my Glocks.

 

[SC_Shooter]

Even if most of it's true. I doubt there's much difference between their story and most other large companies.

How true it is. I don't know of a single company owner or executive out there (and I personally know hundreds) who isn't constantly looking for a way around taxes. I certainly don't blame them for trying to find a way to retain their earnings if they can...but don't condone them crossing a line into illegal activity.

I once spoke 1-on-1 with Steve Forbes for about 30-minutes about taxes back when he was making a run for the presidency. He had an interesting theory that went something like this -

[paraphrasing Steve here]
Have you ever heard of the King James version of the Holy Bible? Of course you have.

Have you ever read a verse? How about a book?

Have you ever read the entire Bible cover to cover?

The US Tax Code has approsimately 10 times as many printed pages as the King James version of the Holy Bible. That means you would have to read the Bible 10 times straight through to equal reading the tax code once. It's impractical at best and all but impossible from a practical standpoint.

To further drive home the complexity of the code, think of this - the Bible has not changed (other than obvious translational issues) in around 2,000 years. In spite of the longevity of the Bible, people still debate its meaning every single day around the world. They are so convinced of their different interpretations that entire new religious denominations spring up to help settle those differences.

Contrast that with the tax code...10 times more pages and many of them change every single year. If we can't agree on a book that has remained virtually unchanged for almost 2,000 years, how can we ever agree on the meaning of the tax code.

[stop paraphrasing Steve here]

The man had a point.

He was advocating for a flat sales tax vs. personal and corporate income taxes. The logic was that a MUCH smaller percentage taken as sales tax on all items sold would result in less disparity between who did and who didn't pay taxes, it would capture taxes from "off grid" jobs (money made from yard sales, FTF transactions and even illegal activities would still result in taxes when the seller went to a Colts game) and would necessitate thousands less people from a collection and enforcement standpoint. You've gotta give him credit for thinking.

He even said that he personally paid almost no taxes at that time because he could afford a small army of CPA's and attorneys to find ways to avoid them. He agreed that wasn't very fair, but said fairness was pretty much out the window until and unless a flat sales tax could replace income taxes.

I'm not condoning anything illegal that Glock may or may not have done. That said, I don't know of a single business owner out there who doesn't push the edge when they can.

 

[sparkyfender]

I still like GLOCKs.......


Next!!

 

[danmdevries]

*Crosses fingers in hopes that something happens to drive the price down so I can buy another Glock*

 

[Glocker]

I'm throwing away all my glocks at this very moment. That devil Gaston Glock!

 

[danielocean03]

*Crosses fingers in hopes that something happens to drive the price down so I can buy another Glock*

Here's a man with his head on straight! That, friends, is the glass half full attitude.