Motley Fool Money Oops! $132 Million Disappeared
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Nov 25, 2024 
Join investment analyst Jason Moser and Bloomberg reporter Lucas Shaw as they dive into a shocking $132 million accounting blunder at Macy's. Moser reveals how such massive sums can go missing and discusses the impact of weight-loss drugs on junk food trends. Shaw shifts gears to explore Netflix's strategy on live events, emphasizing a transition from quantity to quality in content production. The duo also touches on Netflix's challenges in balancing gaming and film, highlighting the company's innovative approaches in a post-pandemic landscape.
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Macy's Accounting Error
- Macy's discovered a $132-150 million accounting error by a single employee.
- The error, related to small package delivery expenses, went undetected for years, impacting results from 2021-2024.
Error in Context
- The missing $150 million is relatively small compared to Macy's $8.3 billion SG&A expenses.
- This context helps explain how such a significant error could go unnoticed.
Changing Food Preferences
- GLP-1 drugs are changing people's relationships with processed foods, making them less appealing.
- One woman described a Ho Ho as tasting "plasticky" after starting the medication.