Go to Jeff Salisbury LWGate Home Page.From: jch <jchjch@earthlink.net >
Subject: RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement
Date: Wed, 26 Jun 2002 11:24:34 -0500
Previous Article (by Author): Re: DVD's (was [CANSLIM] WCOM restatement) "Katherine Malm"
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- --=======1CBD3459======= Content-Type: multipart/alternative; x-avg-checked=avg-ok-1AB42B13; boundary="=====================_50221250==_.ALT" - --=====================_50221250==_.ALT Content-Type: text/plain; x-avg-checked=avg-ok-1AB42B13; charset=us-ascii; format=flowed Content-Transfer-Encoding: 8bit Have long felt intuitively some measure of corrupt behavior would be bell ringer signalling a secular change in a market's direction--witness decline since 1989 of Japanese market preceeded by Recruit-Cosmos stocks for favors bribery scandal causing Prime Minister plus his successor's resignations along with Cabinet Ministers, House of Rep members & top execs at other corps.. Go to following link for recent WSJ in depth analysis of our undiscovered inventory of embezzlement: http://pages.stern.nyu.edu/~mwu1/Media/020620WSJ.htm Within that article there may be a "slimeball" measurement --see Min Wu of NYU's chart..Unfortunately our bell ringing arrives two years after the secular top of March 2000..By the way this is my maiden speech in this venue--My name is John Heiman--semi-retired in St Louis having fired myself June of 1999 by selling my electrical distribution biz--partially because I was distressed at dishonest behavior unfolding daily..I spend some time now as a contributing editor at an esoteric industry publication-a recent Dec 01 article discussed fraud theft,etc. So I'm very sensitive to corrupt behavior & it's economic impact..Don't know if any corruption/greed measures can predict M's future however jch >Well said. Unfortunately, and this isn't the first time this thought >has been expressed, this and the future ones hiding in the woodwork, >could very well spell the doom of the American stock market as we know >it today. A radio columnist (Democracy Now) just yesterday was >ruminating over the impact on the markets if (when) foreign stockholders >decide to take their money and run...away from "America's painfully >corrupt financial markets." > >I have a suggestion (NOT my usual tongue in cheek, friends) for a group >project...a public service to all of us CAN SLIMers. What if we create >a FAQ on how to avoid these slime balls? > >Should we start with Andersen Consulting's client(former) list. I tried >their website; no luck. > >Then how about a list of tips on what to look for in SEC filings to >ferret out red flags. > >Duke > >-----Original Message----- >From: owner-canslim@lists.xmission.com >[mailto:owner-canslim@lists.xmission.com] On Behalf Of Kent Norman >Sent: Wednesday, June 26, 2002 8:13 AM >To: canslim@lists.xmission.com >Subject: RE: [CANSLIM] WCOM restatement > > >The answer is: > >The same childish, short-sighted, immediate satisfaction that blinds >them to the possibility that there is a tomorrow... They run the >business like they live their life. All today and no tomorrow. > >Kent Norman > >--- "Cefaloni, John L Jr. [AMSTA-AR-WEA]" <john.cefaloni@us.army.mil> >wrote: > > Well said, Tom. What is it that makes people do things for temporary > > gain when they know they'll probably get slammed for it in the future? > > > > I guess it's just greed, stupidity and arrogance. > > > > -----Original Message----- > > From: Tom Worley [mailto:stkguru@bellsouth.net] > > Sent: Wednesday, June 26, 2002 12:53 AM > > To: CANSLIM > > Subject: [CANSLIM] WCOM restatement > > > > > > once again, Andersen strikes again, this time by signing off on > > Worldcom hiding over $3 billion in expenses as capital expenditures, > > and thus inflating cash flow. Restatement expected to take away last > > five quarters of > > profits and turn them into losses. > > > > Who gave this sanction to a deviation from GAAP (Generally Accepted > > Accounting Principles)?? Andersen, of course. It's clear that Enron > > was only the tip of the iceberg, as if Waste Management, Sunbeam, and > > a host of other > > companies were not sufficient warning of major problems in corporate > > policy > > and infrastructure. Sad to see a great name like Andersen prostituted > > to > > selling its certification services for any price, but also clear that > > it > > must disappear from corporate America. And until every major company > > audited > > by Andersen undergoes a special review by the SEC on accounting > > practices, I > > doubt anyone will believe that we have finally seen it all. > > > > Tom Worley > > stkguru@bellsouth.net > > AIM: TexWorley > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or -"unsubscribe > > canslim". Do not use quotes in your email. > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or -"unsubscribe > > canslim". Do not use quotes in your email. > > >===== >Opportunities always look bigger going than coming. > >__________________________________________________ >Do You Yahoo!? >Yahoo! - Official partner of 2002 FIFA World Cup >http://fifaworldcup.yahoo.com > >- >-To subscribe/unsubscribe, email "majordomo@xmission.com" >-In the email body, write "subscribe canslim" or >-"unsubscribe canslim". Do not use quotes in your email. > > >- >-To subscribe/unsubscribe, email "majordomo@xmission.com" >-In the email body, write "subscribe canslim" or >-"unsubscribe canslim". Do not use quotes in your email. > > >--- >Incoming mail is certified Virus Free. >Checked by AVG anti-virus system (http://www.grisoft.com). >Version: 6.0.372 / Virus Database: 207 - Release Date: 6/20/2002 - --=====================_50221250==_.ALT Content-Type: text/html; x-avg-checked=avg-ok-1AB42B13; charset=us-ascii Content-Transfer-Encoding: 8bit <html> Have long felt intuitively some measure of corrupt behavior would be bell ringer signalling a <u>secular</u> change in a market's direction--witness decline since 1989 of Japanese market preceeded by Recruit-Cosmos stocks for favors bribery scandal causing Prime Minister plus his successor's resignations along with Cabinet Ministers, House of Rep members & top execs at other corps..<br> Go to following link for recent WSJ in depth analysis of our undiscovered inventory of embezzlement: <a href="http://pages.stern.nyu.edu/~mwu1/Media/020620WSJ.htm" eudora="autourl">http://pages.stern.nyu.edu/~mwu1/Media/020620WSJ.htm</a><br> Within that article there may be a "slimeball" measurement --see Min Wu of NYU's chart..Unfortunately our bell ringing arrives two years after the secular top of March 2000..By the way this is my maiden speech in this venue--My name is John Heiman--semi-retired in St Louis having fired myself June of 1999 by selling my electrical distribution biz--partially because I was distressed at dishonest behavior unfolding daily..I spend some time now as a contributing editor at an esoteric industry publication-a recent Dec 01 article discussed fraud theft,etc. So I'm very sensitive to corrupt behavior & it's economic impact..Don't know if any corruption/greed measures can predict M's future however<br> jch<br><br> <blockquote type=cite class=cite cite>Well said. Unfortunately, and this isn't the first time this thought<br> has been expressed, this and the future ones hiding in the woodwork,<br> could very well spell the doom of the American stock market as we know<br> it today. A radio columnist (Democracy Now) just yesterday was<br> ruminating over the impact on the markets if (when) foreign stockholders<br> decide to take their money and run...away from "America's painfully<br> corrupt financial markets."<br><br> I have a suggestion (NOT my usual tongue in cheek, friends) for a group<br> project...a public service to all of us CAN SLIMers. What if we create<br> a FAQ on how to avoid these slime balls? <br><br> Should we start with Andersen Consulting's client(former) list. I tried<br> their website; no luck. <br><br> Then how about a list of tips on what to look for in SEC filings to<br> ferret out red flags. <br><br> Duke<br><br> - -----Original Message-----<br> From: owner-canslim@lists.xmission.com<br> [<a href="mailto:owner-canslim@lists.xmission.com" eudora="autourl">mailto:owner-canslim@lists.xmission.com</a>] On Behalf Of Kent Norman<br> Sent: Wednesday, June 26, 2002 8:13 AM<br> To: canslim@lists.xmission.com<br> Subject: RE: [CANSLIM] WCOM restatement<br><br> <br> The answer is:<br><br> The same childish, short-sighted, immediate satisfaction that blinds<br> them to the possibility that there is a tomorrow... They run the<br> business like they live their life. All today and no tomorrow.<br><br> Kent Norman<br><br> - --- "Cefaloni, John L Jr. [AMSTA-AR-WEA]" <john.cefaloni@us.army.mil><br> wrote:<br> > Well said, Tom. What is it that makes people do things for temporary <br> > gain when they know they'll probably get slammed for it in the future?<br> > <br> > I guess it's just greed, stupidity and arrogance.<br> > <br> > -----Original Message-----<br> > From: Tom Worley [<a href="mailto:stkguru@bellsouth.net" eudora="autourl">mailto:stkguru@bellsouth.net</a>]<br> > Sent: Wednesday, June 26, 2002 12:53 AM<br> > To: CANSLIM<br> > Subject: [CANSLIM] WCOM restatement<br> > <br> > <br> > once again, Andersen strikes again, this time by signing off on <br> > Worldcom hiding over $3 billion in expenses as capital expenditures, <br> > and thus inflating cash flow. Restatement expected to take away last <br> > five quarters of<br> > profits and turn them into losses.<br> > <br> > Who gave this sanction to a deviation from GAAP (Generally Accepted <br> > Accounting Principles)?? Andersen, of course. It's clear that Enron <br> > was only the tip of the iceberg, as if Waste Management, Sunbeam, and <br> > a host of other<br> > companies were not sufficient warning of major problems in corporate<br> > policy<br> > and infrastructure. Sad to see a great name like Andersen prostituted<br> > to<br> > selling its certification services for any price, but also clear that<br> > it<br> > must disappear from corporate America. And until every major company<br> > audited<br> > by Andersen undergoes a special review by the SEC on accounting<br> > practices, I<br> > doubt anyone will believe that we have finally seen it all.<br> > <br> > Tom Worley<br> > stkguru@bellsouth.net<br> > AIM: TexWorley<br> > <br> > <br> > <br> > -<br> > -To subscribe/unsubscribe, email "majordomo@xmission.com"<br> > -In the email body, write "subscribe canslim" or - -"unsubscribe <br> > canslim". Do not use quotes in your email.<br> > <br> > -<br> > -To subscribe/unsubscribe, email "majordomo@xmission.com"<br> > -In the email body, write "subscribe canslim" or - -"unsubscribe <br> > canslim". Do not use quotes in your email.<br><br> <br> =====<br> Opportunities always look bigger going than coming.<br><br> __________________________________________________<br> Do You Yahoo!?<br> Yahoo! - Official partner of 2002 FIFA World Cup<br> <a href="http://fifaworldcup.yahoo.com/" eudora="autourl">http://fifaworldcup.yahoo.com</a><br><br> - -<br> - -To subscribe/unsubscribe, email "majordomo@xmission.com"<br> - -In the email body, write "subscribe canslim" or<br> - -"unsubscribe canslim". Do not use quotes in your email.<br><br> <br> - -<br> - -To subscribe/unsubscribe, email "majordomo@xmission.com"<br> - -In the email body, write "subscribe canslim" or<br> - -"unsubscribe canslim". Do not use quotes in your email.<br><br> <br> - ---<br> Incoming mail is certified Virus Free.<br> Checked by AVG anti-virus system (<a href="http://www.grisoft.com/" eudora="autourl">http://www.grisoft.com</a>).<br> Version: 6.0.372 / Virus Database: 207 - Release Date: 6/20/2002</blockquote></html> - --=====================_50221250==_.ALT-- - --=======1CBD3459======= Content-Type: text/plain; charset=us-ascii; x-avg=cert; x-avg-checked=avg-ok-1AB42B13 Content-Disposition: inline - --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.372 / Virus Database: 207 - Release Date: 6/20/2002 - --=======1CBD3459=======-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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