Bearing Inventions Founders Financials
Over the past couple of decades, international bearing business of Manufacturers & Distributors attitudes changed with the invention of BearingNet and BearingCode: both unique at first, highly controversial to some
Founders of BearingNet in 1994 John Bass & Ian McPherson gave the industry a system for streamline procurement in simple terms, making it possible to personally meet discuss and resolve global bearing trade with Conferences, guaranteeing End-Users Customer local & worldwide available service
Founder of BearingCode in 2006 Ian McPherson gave the industry a new system for global information service transparency compliance legal provisions not previously known by Manufacturers & Distributors and reported events relating to Government & other regulations
Today, BearingNet and BearingCode have big internet following with views & hits and other vital statistical information
Financially, both founders had different results: John Bass could not stay to enjoy his reward while Ian McPherson has never received his entitlement.
John's nephew Peter Annis was the computer operator (not bearings) who until 2006 did not convene conferences, received John's reward but also alleged received all of Ian McPherson's amount as original founder and operator - not a dime given McPherson
The Australian Government has assisted Ian McPherson with funds to keep & maintain BearingCode for global bearing institutions, however monies owed by BearingNet/Peter Annis & Co to BearingCode/McPherson have been withheld since 2016 strangling the Code's services to Public Treasury
Leaning on Governments to satisfy Commercial practices is inappropriate and perhaps in this case unlawful, it is strongly recommended that BearingNet/Peter Annis and those global Corporations honor their promised funding to Bearingcode/Ian McPherson
Compliance is quite easy to state but extremely difficult to execute. The new age of Artificial Intelligence (AI) makes regulation to compliance a rather empty threat of endless money statements particularly when collections are important to either party. Compliance by way of cartoons Walt Disney style promises, make game playing of Commerce a thing of the past to Inventors Founders Financials & Regulations relating to Bearing Business
THE CHARTER OF BEARINGCODE
*BEARING INDUSTRY CODE OF CONDUCT
*BEARING INDUSTRY CORPORATE GOVERNANCE
*BEARINGCODE EDUCATION AND COMMERCE
Bearingcode* is the NGO Bearing Industry governance offering membership to Companies who comply with corporate transparency to manufacture and or market bearings in a legal manner clearly indicating the Country of Origin, Manufacturer and Description.
Compliance with the Corporations Act include PWC guidelines relating to executives fiduciary duties. Due to recent legal proceedings within the Industry, it would be appropriate for companies to display a greater transparency with their respective clients by joining the Bearingcode* as an accredited member. Memberships are open to all sectors, both inside & outside of bearings and those seeking redemption
Bearingcode* is impartial, reports on events, news items, legal matters or otherwise about the global bearing industry but does not necessarily endorse commercial statements. US State Department deputy spokeswoman Marie Harf stated: an open marketplace of ideas, transparent and accountable governance, given equal treatment under the law and the ability to exercise rights without fear of retribution
Bearing Industry Code of Conduct Statement
In the year 1888 or thereabouts, the humble steel Bearing was first invented and claimed by Germany's Friedrich Fischer branded FAG
Although bearing manufacturers will differ, there has been no major changes in basic design, gaining this mechanical device to become one of the oldest and important Industries globally.
The success of Bearing trading has assisted every industry from bicycle to cars, trains to planes, educational programs from High school to Universities and for various government operations in critical defense requirements to name a few.
More recently, government legal authorities have demanded industry to adhere to strict codes of conduct for corporate governence with compliance, behaviour and transparency. This new course of action or conduct regulation, is to prevent corporate crime, ensuring public comfort that these procedures are active and policed concurrently within the Bearing Industry.
Today, the humble Bearing is witnessing a difficult & distressing period with various civil & criminal legal action against our Bearing manufacturers globally. Throughout these legal proceedings, the Bearing Industry will not alter the excellent quality given to customers throughout the world, however some bearing administrators may change.
Changes to the Code of Corporate Governance
A. F. FERGUSON & CO. is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.