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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (73595)1/14/2000 3:46:00 PM
From: Earlie  Read Replies (1) of 132070
 
MB:

These rascals have got the acquisition game down to a science, especially the writeoff aspect.

I recall calling the financial guys at CPQ when they announced a $1.5 billion writedown after the DEC acquisition. I was seething because I knew DEC was a clean as new snow, as the company itself had been selling off and writing off anything questionable for years. They hung up on me when I jumped down their throats for "worse than aggressive accounting" (don't blame them as I was rude). The big surprise came a few days later when they raised the writedown to $5.0 billion! What a neat game. (g)

Best, Earlie
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