Friday, October 14, 2005

Unique Enterpreneur

Here is a story for those of you who hate corporations and root for the small entrepreneur. This Wall Street Journal article tells about a Chicago lawyer who has found an interesting way to enrich himself:

Using a state whistle-blower law, Mr. Diamond since 2002 has filed about 95 suits in Cook County court here against retailers that failed to charge him taxes on Internet sales, alleging that they broke the law. In cases where the state of Illinois joins the suits and prevails, he is entitled to up to 25% of the financial damages, with the rest going to state coffers.

Mr. Diamond's first eight suits were filed against such retailers as Wal-Mart Stores Inc., Office Depot Inc. and KB Toys Inc. He has netted about a half-million dollars already, from some retailers.

The article goes on to talk about how states are trying to stop him from doing this. What do you think? Is Diamond an opportunist exploiting a loophole to make easy money or is he a hero for stopping the corporations from breaking the law?

Source: Division of Labour

3 comments:

Gregory Bylos said...

haha, he's my hero...

Anonymous said...

I'd say that he's an opportunist exploiting a loophole {like richard exploiting the loophole in the dress code about soccer cleats} because if he really wanted to expose fraud he would just report the violation. Why does he get money because the companies didn't charge him taxes on internet sales? I don't really understand how that works. It seems like the government should prosecute the businesses, not the consumer.

Anonymous said...

I would agree with Rebecca that he has simply found a loophole and is exploiting it because he is in it for the money. If he just wanted to expose the businesses he would go after one large coorporation and involve the media alot more. But the fact that he has repeadtly filed suits proves that he is in it for the money. But hey no one has stopped him yet! Kristen