- Jul 21, 2013
- 65,367
- Pool Size
- 35000
- Surface
- Plaster
- Chlorine
- Salt Water Generator
- SWG Type
- Pentair Intellichlor IC-60
It’s really not fair to companies like Hayward to have to compete against products made in China with stolen intellectual property and products marketed with exaggerated claims.
In many industries there have been and there are today bad actors who compete with unfair and often illegal marketing and financial practices.
In the 1990's AT&T executives were baffled as to how they could not compete with Worldcom. This ultimately lead to the breakup of AT&T as their problems were blamed on mismanagement. in the early 2000's it came to light that Worldcom was cooking the books with accounting frauds and eventually its CEO Bernie Ebbers was convicted of securities fraud and sentenced to 25 years in prison.
AT&T could not compete against a company committing accounting frauds on a grand scale. If not for the illegal activities it is likely the telecomm industry would be very different today.
There are similar stories to be told in the energy industry with Enron and electronic equipment with Tyco.
Bad actors even today continue to make it difficult for companies who play by all the rules to compete. Eventually the scams come to light but often leave carnage of bankrupt companies, ruined careers, and lost jobs in their wake for those who followed the laws and regulations.
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The Biggest Stock Scams of Recent Time
Where there is money, there are swindlers. Protect yourself by learning how investors have been betrayed in the past.