Enron 2019 confirmed.
Jack Ma to Retire from Alibaba
61–70 of 134 posts
Re: Jack Ma to Retire from Alibaba
#62Didn't think Musk would outlast him.
Re: Jack Ma to Retire from Alibaba
#63Earlier quoted context omitted.
They'll be ok, even with the trade war. The majority (about 90%) of Alibaba's sales are domestic (Chinese). The rest is exports (not just to the US though): https://www.statista.com/statistics/226793/e-commerce-revenu... And read this if you want to get an idea of where their revenue comes from: https://www.nasdaq.com/article/alibaba-baba-misses-q1-earnin...
>The majority (about 90%) of Alibaba's sales are domestic (Chinese) But how many of those domestic customers get their own paycheck from exports? China is moving towards a more domestic-focused economy, but exports are still a big deal for them.
[deleted]
Re: Jack Ma to Retire from Alibaba
#64The reason Jack Ma is stepping down from Alibaba is that he was becoming too powerful and influencial in China. Jack is very smart and knows that you can build your wealth and power until you begin to threaten the party, then you either need to step down or you will be forcefully taken down.
Interesting thought. Can you provide any historical examples of this?
Re: Jack Ma to Retire from Alibaba
#65Odds of a financial scandal in the next year?
That was my instinct too.
Re: Jack Ma to Retire from Alibaba
#66The reason Jack Ma is stepping down from Alibaba is that he was becoming too powerful and influencial in China. Jack is very smart and knows that you can build your wealth and power until you begin to threaten the party, then you either need to step down or you will be forcefully taken down.
Interesting thought. Can you provide any historical examples of this?
Wang Jianlin, Xiao Jianhua
Re: Jack Ma to Retire from Alibaba
#67Odds of a financial scandal in the next year?
"You couldn't successfully audit a good sized publicly held, domestic US Car Dealership for the fees that PWC Hong Kong charges to audit a global enterprise like Alibaba"
"I have no idea how PWC can audit this mess for the fees they charge. Every year, the hours of work required expand geometrically and the fees come in at about what you'd charge to audit a large US/Domestic publicly traded Car Dealership. Keep this in mind, Alibaba now has 920 Operating Units (Did I mention that?) scattered all over the globe, a massive Capital Structure "Enhancement", with many of these WFOE's and VIE's located in the PRC and all of these entities are audited from the PWC Hong Kong office. If I were trying to audit this we'd have substantial travel, staff time and training on both IFRS and GAAP accounting treatment and methods. All to be researched and applied to myriad business combinations, sales, mergers and divestitures. Incredibly, PWC Hong Kong does the whole thing, including tax services and consulting for US$12.8 million dollars ($13,900 per business unit @ US$12.8 million/920), up from US$ 8.4 Million the prior year. PWC is the the new "Dollar Store" of public accounting."
https://deep-throat-ipo.blogspot.com/2018/08/the-baba-20-ffi...
Re: Jack Ma to Retire from Alibaba
#68Earlier quoted context omitted.
Not an easy company by any stretch. British Virgin Islands registered and extremely hard to unwrap ultimate ownership even.
Alibaba is much more transparent than say Huawei. Alibaba is even publicly traded on an American exchange, so its ownership is much more clear.
It's illegal for foreigners to own a Chinese company. A shell company based in the Caribbean is publicly traded. It owns no assets.
https://www.barrons.com/articles/beware-the-pitfalls-of-the-...
Re: Jack Ma to Retire from Alibaba
#69Earlier quoted context omitted.
Alibaba is much more transparent than say Huawei. Alibaba is even publicly traded on an American exchange, so its ownership is much more clear.
It's illegal for foreigners to own a Chinese company. A shell company based in the Caribbean is publicly traded. It owns no assets. https://www.barrons.com/articles/beware-the-pitfalls-of-the-...
It is not illegal for foreigners to own part of Chinese companies. It's generally illegal for a single foreign entity to own a controlling interest. Softbank and Yahoo invested into Alibaba relatively early on. It was incorporated in China. Their positions represented the majority of shares in the business, just not individually.
Re: Jack Ma to Retire from Alibaba
#70Retire or get offed... Easy choice.
I am wondering how many years has China left, unconstrained kleptocracy can't last more than a few decades.