[personal profile] twovectors
Channel 4 news just really annoyed me with a piece on Boots - paying little tax on a large operating profit.

But they paid lots of interest, and deducted this for tax. Now in this case the interest is a cost of the acquisition, which I am less sympathetic with. But most interest is a legitimate business expense - you needed money to make something, you borrowed it, the cost reduces your profits (but notably increases someone else's - the lenders). This it seems to me is a legitimate tax deductible expense, in the same way that rent is a deductible expense.

The whole article seemed to me to show a lamentable lack of business knowledge. It makes me ashamed to call myself left wing to see such ignorant comment calling itself reporting.

I find such obvious bias undermines everything it has to say.

And then they followed it up with a bit on Puma, who, very commendably, started to publish an environmental impact assessment of the whole supply chain. C4's response - isn't your whole business damaging the environment by encouraging consumerism?

I find it hard to counter the right's argument of bias in the broadcast media with this to defend. Leave such blatant bias for Fox news - C4 news should be above this!

Date: 2011-05-16 07:04 pm (UTC)
From: [identity profile] the-alchemist.livejournal.com
I want to become less business illiterate. Any suggestions for some reading I could do to get that way (ideally online)?

Date: 2011-05-16 07:35 pm (UTC)
From: [identity profile] vectorious.livejournal.com
A good place to start would be some fun-to-read economics books - my favourite is probably the Undercover Economist by Tim Hartford

Naked economics by Charles Wheelan - is a good place to follow up.

After that I would try something like the business sections of papers. I got a lot of mine through accountancy, and then being in business (having been in the NAO and private sector, it can be quite a shock in some ways, and curiously similar in others). You might invest in a copy or two of the FT and read some of the (generally quite well written) comment pieces.

Date: 2011-05-16 07:56 pm (UTC)
From: [identity profile] vectorious.livejournal.com
Or reading the economist business section - most of which is online

Date: 2011-05-16 08:04 pm (UTC)

Супер блог!

Date: 2011-07-11 05:17 am (UTC)
From: [identity profile] sturrockile.livejournal.com
Автор продолжай в том же духеImage (http://7wp.ru/)



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