20091103 Debate on Rep Garrett's SOX Amendment 2

[pakpaulyoung]

I think the chairman's argument of the amendment discouraging a company from growing is a weak one because small public companies almost always incorporate some sort of growth strategy. His main argument that the monetary burden of SOX is exaggerated also seems weak given he didn't really give any basis for why he believes that. Just like garett argued before, That half a million to million dollar estimate that small business spends on compliance could be put to better use by producing goods

[kimdaviscali]

Have you given the SLIGHTEST thought to how many companies over 75 million will now break up into subsidiaries ect to get under the 75 million ceiling? 150 million split up into two subs and now no more SOX? Come on, wake up!!!!!

[pakpaulyoung]

1. 75 mil are relatively small companies opposed to the likes of Enron and worldcomm.

2. Splitting up into two subsidiaries does not mean they are part of two separate corps.

3. The next Enron cannot happen because after passing the 75million cap SOX compliance becomes mandatory.

4. Enron's market capitalization was somewhere between 65-100 billion. A small company collapse of 75 mil or less should not phase a real investor who diversifies his/her portfolio correctly

[kimdaviscali]

Quit throwing out "The White House says do it" "The White House says do it".. .who cares what the White House says, they're not the experts in the field and aren't going to pay the retirements of the people who fall to the next Enron after you do this ridiculous act.

[kimdaviscali]

It does not maintain the status quo, now that they know there is no fear of an auditor knocking, they'll scrap any intent to comply now or in the future.