Go to Jeff Salisbury LWGate Home Page.From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta)
Date: Wed, 17 Jul 2002 09:24:00 -0400
Next Article (by Subject): [CANSLIM] chart reading "Tom Worley"
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Fred: Below, you state: "As a result, you are left with candidates who are cronies, politically-correct figure-heads who haven't the faintest idea of what the business is about, and people who could not read a financial statement, interpret the accounting notes, and make a decision if there life depended upon it." I'll bet my last nickel if you did a survey and asked to what group of people it best describes, it would be unanimous: "Politicians!" - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Fred Richards Sent: Sunday, July 14, 2002 4:39 PM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) This is a perfect example of a "feel-good" regulations that will prevent a lot of good and qualified people for refusing to take on the responsibility of being CEO's and/or CFO's. In fact, I already know of three CEO's who are top-notch and rather young who have been advised by their financial advisors to resign and retire before this terrible regulation goes into effect. At this point, at least two of them are submitting their letters of resignation. Over the last 20 years, a large number of my acquaintances and myself have refused to accept offers to be on public boards. Even with the liability insurance, it isn't worth the hassle. In the end, these types of "feel-good" will have the exact opposite effect. Qualified people will find it increasingly necessary to refrain from the potential financial and criminal exposure. - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of J. Lobatto Sent: Saturday, July 13, 2002 8:30 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Have to admit I find this provision of the law fairly bizarre. How can a CEO or CFO of a huge corporation personally verify the accuracy of a financial report. Is he or she supposed to hire his own auditors to audit the report. If I were facing a possible criminal charge for false certification, I'd want to........ Jon - ----- Original Message ----- From: "Tom Worley" <stkguru@bellsouth.net> To: <canslim@lists.xmission.com> Sent: Saturday, July 13, 2002 6:56 PM Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > I think you are referring to a new requirement that the CEOs and CFOs > personally certify the accuracy of their Q3 financial reports. A false > certification would be subject to criminal prosecution. > > ----- Original Message ----- > From: "zillagirl" <zillagirl@email.msn.com> > To: <canslim@lists.xmission.com> > Sent: Saturday, July 13, 2002 6:54 PM > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > I heard that starting in August the law is different and these people > and the CEOs will be breaking the new laws?? Didn't listen to all the > details because I thought Id hear it again by then. I was wondering > if a lot of these companies will try to restate to get in under the > wire. > ----- Original Message ----- > From: "Duke Miller" <dukemill@tampabay.rr.com> > To: <canslim@lists.xmission.com> > Sent: Saturday, July 13, 2002 1:53 PM > Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) > > > > And, if you believe what we've seen lately in the press, the > > Andersen auditors are going to the company's new accounting firms > > with the account. The SAME auditor will be in charge of the audit! > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Winston > > Little > > Sent: Saturday, July 13, 2002 2:56 PM > > To: canslim@lists.xmission.com > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > Let us assume that the second house does a full audit. > > How much confidence can one have that the second audit is "good"? > > The rules for treatment of the financials do not appear to be > > absolute, thus the second audit could just be as full of controversy > > as the first, perhaps in different areas, as the popular sentiment > > for criticism changes. > > > > > > ----- Original Message ----- > > From: "Patrick Wahl" <pjwahl@attbi.com> > > To: <canslim@lists.xmission.com> > > Sent: Saturday, July 13, 2002 1:12 AM > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > > Do you blame them for wanting to do a full audit? > > > > > > On 12 Jul 2002 at 23:05, Tom Worley wrote: > > > > > > > cool way for the Big 4 to increase their revenues and potential > > > > earnings (BTW, who audits the auditors??). This way they will be > > > > able to charge > > for > > > > two full audits instead of just one, at the expense of the corps > > > > (shareholders). > > > > > > > > > > > > - > > > -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. > > > > > > > > - > > -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. > > > > > - > -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. - - - -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.
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