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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (142915)2/25/2002 10:34:16 AM
From: TimF  Read Replies (1) of 1576912
 
I think his point is that it was never as bad as it seemed not because it is not bad, but because like many bad news items it got blown a bit out of proportion particularly as a political scandal. If he actually thinks it is not bad I disagree with him. I think it was a scandal that a large company would be so deceptive and perhaps more of a scandal that the auditing company would accept it, but the who political thing about who knew who at Enron or who got campaign money from Enron is overblown. Also the bankruptcy itself in a sense isn't as big of deal for people who are not associated with Enron, companies go bankrupt sometimes that's part of capitalism. I would be worse if politicians tried to save companies like Enron. The only big scandal I see is the deceptive accounting at ENE and the fact that Enron is not the only example of a company with sloppy or even deceptive accounting. That issue is big, but the news programs have tried to take it beyond that issue.

As for TRW - I see that Northrop struck as soon as TRW shares went down about 10% after TRW's boss went to Honeywell. Apparently a lot of people think that either Northrop will increase its bid or someone else will bid because the bid was for $47/share, but TRW's price is now above $50.

Tim
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