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Non-Tech : T & W FINANCIAL (TWFC)
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To: mod who wrote (7)10/31/1998 12:04:00 AM
From: Quad Sevens  Read Replies (1) of 24
 
<< TWFC is cursed with gain on sale accounting. Anybody who uses it has had their stock pummeled, whether
they deserve it or not. My understanding is that TWFC still uses it, so part of their projected earnings are not
cash, but are dependent on the assumptions used in the securitization. This is not necessarily bad, but the
market doesn't like gain on sale companies these days. >>

Arghhh ... If either of you gentlemen find time, a brief explanation of this would be greatly appreciated.

Wade
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