[Am-info] Re: MS and not reporting earnings

[John J. Urbaniak]

sturde@az.com wrote:

> In <20020213170102.B8E0B29B7D@lists.essential.org>, on 02/13/02
>    at 12:01 PM, am-info-request@venice.essential.org said:
>
> > "The US Securities and Exchange Commission  investigation into Microsoft
> >thinks the company may have been holding back cash in order to manipulate
> >future earnings, according to the Wall Street  Journal. "OK
>
> I read the article and it is fascinating.  MS wants to project the image
> of "Onward, Forward and Upward" and a quarter when earnings reported
> realistically would not support the image, must be buffered against.  You
> need something held in reserve to report when reality is inconsistent with
> the dream.  Actually over the issue, MS fired its chief account which it
> hired from Price Waterhouse.  He sued for wrongful discharge (again
> according to the WSJ article)  He lost on the age discrimination issue,
> but MS settled on the issue that reminds me of the ancient Persian
> messengers (I believe):  "You kill the messenger who brings bad news."  No
> wonder Alexander destroyed the Persian empire.

Yes, and part of the "settlement" included a gag order, whereby the accountant
is not allowed to say anything about the issue.

So, whatever he knows about Microsoft's criminal behavior is forever buried.

I am almost convinced that Justice is dead.

John