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Non-Tech : Tyco International Limited (TYC)
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To: blankmind who wrote (3250)4/30/2002 7:56:26 AM
From: GVTucker   of 3770
 
Tyco management's numbers for CIT earnings exclude some charges for bad debts.

Charges for bad debts is an ongoing cost of business for a finance company. Calling those expenses extraordinary makes no sense to me.

I prefer to use CIT's number as reported in the S-1 rather than the number that management uses in the conference call.
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