Troubles in Jeepville?

[gmcul8r]

I find it hilarious that people think the Bronco will launch and there won't be issues/recalls. With how much Ford has delayed and fumbled this launch, not to mention previous ones, I have zero confidence the Bronco's will be trouble-free.

In fact, it has already begun with the Sport:

https://jalopnik.com/multiple-ford-bronco-sports-overheated-off-road-lets-t-1846450499

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[Rick Astley]

I don't get your comment at all. I think maybe you quoted the wrong person.

My question was this:

It quoted who said it. Must be a different Tim Hood. Or it quoted a comment you weren't wanting to answer a follow up.

Either way, citing GAAP as evidence of documented financial statements is not very accurate, you're going to need to follow GASB (Governmental Accounting Standards Board) my specialty is in GAO Yellow Book which focuses on the testing and presentation of financial models for awards-based governmental grants/awards.

The entity (CR) will have quite a bit of freedom in how they've formed their income. They are bound under ASC 606 which is guided by the AICPA and therefore, even while being a member of the AICPA and a number of their audit committees, is not the be-all, end-all best-case scenario for thorough financial statements.

The revenue recognitions principals of ASC606 are overall pretty loose. I'll freely admit that I'm only certified in GAO Yellow Book and GASB audits, so ASC 606 isn't my specialty at all. In speaking with another partner who handles some of the other governmental audit factors and has worked with Topic 606 (the precursor to ASC 606 which is quite new and had a number of fundamental changes from Topic 606), if they bury income into contracts then there would be essentially no visibility on their 990 or Audit Report as to who exactly is paying what and with a quick 2-minute review of said Audit Report, you're going to find it difficult to identify any form of income on there aside from paid memberships. Point being, you can't pull out revenue sources from financials presented under ASC 606 as you're requesting.

I realize that the answer you're fishing for is "I don't have specific information to support assertion X so I withdraw my statement" and the answer you're getting is "Nobody can know what the true answer to your question is based on the financial records made public vie the requirements of 501(c)(3)."

Your unable to identify much of any of their income beyond memberships from the financials. And that's the way it is. 990's aren't a fantastic source for that, and the notes to the financial statements are complete per regs, but brief. Even their long-term litigation with what's become substantial expenses are barely covered.

 

[timhood]

It quoted who said it. Must be a different Tim Hood. Or it quoted a comment you weren't wanting to answer a follow up.

You quoted me, but your comment about Schedule A and such had nothing to do with what was quoted:

I fixed that for you. It's well known that CR doesn't accept advertising money. They don't take "pay-offs". They don't sell the rights to companies to allow them to advertise their "wins"

Hey, if that's how you believe Not-for-profits to run then that's awesome!

I'm sure your charitable contributions reflect that as you exceed the standardized deduction. I'm of the opinion that charitable contributions should move back to being a Schedule A deduction to encourage more giving. If the world had more folks like you and I giving over the SD amount it would be a better place.

Thanks for your giving!

I'm not sure where I mentioned anything about tax deductibility of personal contributions to charities or how any of that applies to your claim that CR takes money from auto manufacturers in exchange for good reviews and then hides those contributions in its tax filings. I assumed you had quoted me when you were replying to someone else.

That said, what you are saying

Your [sic] unable to identify much of any of their income beyond memberships from the financials. And that's the way it is. 990's aren't a fantastic source for that, and the notes to the financial statements are complete per regs, but brief. Even their long-term litigation with what's become substantial expenses are barely covered.

is essentially, that you made a claim that they have been taking money in exchange for favorable reviews, but there's no evidence of that, nor even a place in their consolidated financial statement (which is not their Form 990 filing, BTW). Further, you're saying that since KMPG audited CR and attested that the financial statement is free from material misstatement, either they are complicit in that fraud or do not deem such an action to be fraud. I can't imagine either scenario, nor could I imagine there hasn't been one single former employee of CR that would have had some knowledge of this fraud and not come forth. If not for the fame (surely this would make for a 60-minutes-level exposé and coverage by every major media), but also for the fortune, as whistle-blower laws now make coming forward a financially-rewarding opportunity.

Indeed as sure as you are of your claims, I would think maybe you have some contacts that could initiate an investigation and audit. Forensic accounting capabilities have vastly improved over the past decade or two. It wouldn't be difficult to pull the lid off of this conspiracy.

 

[khatch]

You quoted me, but your comment about Schedule A and such had nothing to do with what was quoted:




I'm not sure where I mentioned anything about tax deductibility of personal contributions to charities or how any of that applies to your claim that CR takes money from auto manufacturers in exchange for good reviews and then hides those contributions in its tax filings. I assumed you had quoted me when you were replying to someone else.

That said, what you are saying



is essentially, that you made a claim that they have been taking money in exchange for favorable reviews, but there's no evidence of that, nor even a place in their consolidated financial statement (which is not their Form 990 filing, BTW). Further, you're saying that since KMPG audited CR and attested that the financial statement is free from material misstatement, either they are complicit in that fraud or do not deem such an action to be fraud. I can't imagine either scenario, nor could I imagine there hasn't been one single former employee of CR that would have had some knowledge of this fraud and not come forth. If not for the fame (surely this would make for a 60-minutes-level exposé and coverage by every major media), but also for the fortune, as whistle-blower laws now make coming forward a financially-rewarding opportunity.

Indeed as sure as you are of your claims, I would think maybe you have some contacts that could initiate an investigation and audit. Forensic accounting capabilities have vastly improved over the past decade or two. It wouldn't be difficult to pull the lid off of this conspiracy.

all this over what I thought everyone knew... that Jeeps are unreliable.

 

[Rick Astley]

You quoted me, but your comment about Schedule A and such had nothing to do with what was quoted:




I'm not sure where I mentioned anything about tax deductibility of personal contributions to charities or how any of that applies to your claim that CR takes money from auto manufacturers in exchange for good reviews and then hides those contributions in its tax filings. I assumed you had quoted me when you were replying to someone else.

That said, what you are saying



is essentially, that you made a claim that they have been taking money in exchange for favorable reviews, but there's no evidence of that, nor even a place in their consolidated financial statement (which is not their Form 990 filing, BTW). Further, you're saying that since KMPG audited CR and attested that the financial statement is free from material misstatement, either they are complicit in that fraud or do not deem such an action to be fraud. I can't imagine either scenario, nor could I imagine there hasn't been one single former employee of CR that would have had some knowledge of this fraud and not come forth. If not for the fame (surely this would make for a 60-minutes-level exposé and coverage by every major media), but also for the fortune, as whistle-blower laws now make coming forward a financially-rewarding opportunity.

Indeed as sure as you are of your claims, I would think maybe you have some contacts that could initiate an investigation and audit. Forensic accounting capabilities have vastly improved over the past decade or two. It wouldn't be difficult to pull the lid off of this conspiracy.

You can pull their F990 for free from Guidestar, as has been the case in this entire exchange. Feel free if you like, as with any 990 for any organization in the country. https://www.guidestar.org/


There have been a few journalists at The Truth About Cars over the years who have discussed some of the less pleasing aspects of the auto-award and review business over the years. Would also suggest Jack Baruth's writings.

however, you're not getting what you're after here with my response, and i'm sorry. How about this. Whatever it is that you need to hear to dispel any myth that CR and any review based organization is 100% free from influence of the organizations, products and entities they research, has been said and I shall in this and all other matters related to the independence or appearance of a conflict of interest, seek out your counsel as my first and only call?

FWIW: having contracts with OEM's wouldn't even be a conflict of interests, let alone a 60 minutes expose. It would be entirely normal and an allowable income source.... However, I guess you're going to need that in a tattoo on some exec's pec.

 

[Rick Astley]

all this over what I thought everyone knew... that Jeeps are unreliable.

Please don't spout baseless BS comments.

@timhood will be quite cross with you.

You're going to need to establish an organization with muddy financials to independently adjudicate this theory of yours before legal action against you for slander is drawn up. Act now!

 

[Marauder]

Similar to Tesla. Terrible build quality, apparently they’re fun to drive and it’s a lifestyle.

Tesla is very boring to drive. Basically, you’re a dragline savant without the engine roar nor tire squeal.

after the first 5-10 times gunning it for a couple of seconds, you’re kind of bored by it

 

[TJconvert2.7]

Well since I am an equal opportunity hater I would like to point out that on Jeeps build and pricer their “snazzberry” paint is much different on the Gladiator than the Wrangler. The wrangler depiction used to be the same as what the Gladiator shows now, but changed at some point to look lighter. I don’t get what’s so hard.

 

[MLRey]

Gave up on CR many years ago. Got tired of their anti truck/SUV bias. Don't be surprised if they're not bashing the Bronco shortly after it's out for poor mileage, excessive greenhouse gas emissions and environmental damage. It's just what CR does.

 

[AcesandEights]

A friend just came by with a new Gladiator Rubicon EcoDiesel. I didn't ask about the price, but everything on that rig is built exactly the way it's supposed to be. I sure hope the Bronco Badlands is in the same league.

 

[Alfabeast]

It's a bit of a shame, because it was a ton of fun to drive, and I really liked having the top off over the summer! Over the course of 18-months: Gas tank, head gasket, and water pump were the ones I actually paid for. I decided to call it quits with a couple $1200 estimate for brakes, ball joints, and battery. While some of this is normal wear and tear, it was not without other issues. There was a super pleasant transmission quirk where it would pop out of 2nd gear and then grind when popped back in. The dealership called this a known issue of the transmission that was not worth the time and money to investigate further. There were also rust issues on the underbody that would have presented yet another money pit. I traded for a Mini Hardtop JCW, which will ultimately replace our Focus ST when the Bronco comes.

Dang, you would be better off with an Alfa!

 

[regularbronco]

CR, JD Power(now owned by Chinese) etc; really doesn't matter much. If Jeeps were awful vehicles, the word would have gotten around by now so alot of people must be satisfied. I bought my neighbors 2 door 2007 Sahara with 67k miles on it two years ago for 10k. I drove it two months and sold it for 14k! I couldn't do that if Jeeps we're junk, the word would have got out by then. As I take delivery this weekend of my Bronco, I'm sure as a first production year vehicle it is bound to have the same quirks every OEM has with a major redesign of a vehicle. I'm fine with that and if Ford didn't have the Jeep to benchmark, The Bronco wouldn't be as good as people are saying it is.

So thanks AMC, Daimler Chrysler, Chrysler, FIAT Chrysler, and now Stellantis for keeping it around!!!

 

[scottyb907]

Friend of mine was considering a Jeep Wrangler until he read some recent Consumer Reports reviews. Of course the Jeep dealer just pooh-poohed the CR review saying that the Jeep is misunderstood. I wasn't sure what he was referring to until I saw this little beauty this morning. I guess "misunderstood" is a relative term, but to CR it means quality. Ooops....

Hey you were not supposed to post this yet! I thought we could wait and let a few more fair weather Bronco lovers jump ship which would help those who really want a Bronco get one sooner!

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