When a big monolith takes over something like GXY, they have ways and means of hiding the profitability...
ie. Rio and BHP running a tax-haven minimisation program for many years against the Australian tax-payer with iron ore pricing games.
The money is siphoned off, the smaller shareholders rarely see the gains. The management see the gains in multi-million dollar salaries, the banks and select large shareholders do. All they have to do is tell a bunch of fibs to the markets.
I'm kind of singling out the Australian ones here, I'm sure the Chinese/American/European and Japanese monoliths are just as bad, if not worse.
http://www.copyright link/business/...over-singapore-marketing-hubs-20150410-1miiu2
http://www.theaustralian.com.au/bus...s/news-story/1aea0e2c0255897dc75e53be58ba3607
One of the other classic ways of robbing things is to claim a very high cost of production, you're the producer, so who can really check your results, and fewer even bother to question, meanwhile you're pulling an extra 10-30% out.
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