IBM Message Board - Msg: 17299239

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Technology Stocks : IBM

IBM 297.59

+2.5%

Nov 21 3:59 PM EST

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To: Scott Bergquist who wrote (7571)	4/8/2002 10:04:59 AM
From: Arrow Hd.	of 8218

Just got back from a trip and saw the warning news this morning. Have not sorted through the details but one issue we have all agreed on is the revenue problem. Looks like that has finally got too far out of line. The earnings issue is more complicated. I have been concerned about FASB 142 for a number of months now and I will be very interested in the write-down issue. IBM reports at the GAAP level so this earnings issue becomes rather complicated in sorting out the culprit. Obviously revenue short-falls don't help your earnings objectives but I think there is more to this issue but unfortunately I don't know the answer at this time. Anyway, the change of command offered an opportunity to address these issues now so I would expect that whatever they had to do to get in line with tangible book will be done this quarter.

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