First - if Whatsapp displayed unsecure SMS messages in RED and asked before sending them, I don't see a security issue. Second - where there's a will, there's a way. Doesn't the article mention that WhatsApp actually uses the Signal protocol?
As a general practice, most large accounting firms use relatively inexperienced kids right out of college to do basic audit leg work. They are supervised by slightly more experienced senior auditors who unfortunately depend on feedback from these inexperienced kids in making informed decisions. During the 1980s, both these kids and their supervisors were mostly young single males between the ages of 22 and 29.
As a 28 year old CPA myself, I understood that audits are very boring and tedious for these young single male auditors. It was difficult for them to pay close attention to their work. It was relatively easy to distract them without ever being blamed for obstructing their work. Rather than overtly interfering, I engaged in a calculated plan to subtly distract them with cute Crazy Eddie employees reporting to me. I encouraged my female employees to flirt and get friendly with their young male PMM counterparts and discuss audit issues with them over lunch and dinner on Crazy Eddie’s tab. Meanwhile, I took certain higher level PMM auditors to pick-up bars and other establishments frequented by good-looking women.
Our auditors wasted valuable time getting chummy with our management and female employees rather than paying attention to their jobs. As the scheduled completion of the audit neared, our auditors rushed to complete their field work and failed to undertake key audit procedures which enabled us to easily inflate our reported earnings.
That chumminess also helped us become more likable to our auditors and corrode their professional skepticism. They did not want to believe we were crooks. They believed whatever we told them without verifying the truth. You can steal more with a smile!
"Their "enterprise value" is -$20b, compared to an industry ("fiancial markets") average of (positive) $114.98b." - An average value of one bank? That is quite irrelevant, given the vastly different sizes of banks worldwide.
"Their income last year was under $3000 per employee, compared to industry average $454,000." - Didn't one of the previous statements say they were loss making? That should make the income per employee under $0. Also, in banks, unlike e.g. consulting firms, returns are not primarily driven by employees but by capital - so a more suitable measure would be return on assets or return on equity.
"Long term debt/equity 399.89% compared to industry average 65%." - Not sure what industry you mean but much of banking is based on getting a lot of deposits from clients (debt) with little equity. In Europe, VERY roughly, capital requirements are, say, 8%, and most banks will have gearing exceeding 500%. For a bank, 65% is not viable.
"Their current ratio is below 1, probably, but their financial statements failed to disclose all the information." - They must, by law, publish their total current assets and current liabilities, so it should not be that difficult to divide the two to get the current ratio.
And peons losing jobs? That happens when the company stops growing, and he tired to give 10 reasons why the current CEO caused exactly that. OK, I may not have much background information, but let's not mod "rich a$$hole" phrases up so fast...
Ocean is the warmest we've ever measured. Hottest year in New Zealand. Series of 8 hottest years!
Reminds me of last year. Also, next year's articles: Ocean is the warmest we've ever measured. Hottest year in Russia. Series of 9 hottest years.
I get it, the Earth is getting warmer, but that means we should get ready to get these records every year... and perhaps talk about whether the warming is slowing down or speeding up?
"Don't hate me because I'm beautiful. Hate me because I'm beautiful, smart and rich." -- Calvin Keegan