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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Efthymios H. Zacharias who wrote (32056)10/28/2000 12:27:19 PM
From: IceShark  Read Replies (1) of 436258
 
Thanks, the stock will probably go up on Monday. -g-

This whole mess really stinks to high heaven and I hope the SEC hands them their head on a post, but I won't be holding my breath.

And then we have this Morgan Suckup deal. The ax on scamazon, Mary Meeker, issues a pimping report 5 days before the bond offering goes off and claims she didn't know that an offering was in the works and her firm was the lead manager of it? What kind of analyst is this? The whole Street knew it was coming down the pipe.

I would say the author probably is correct in concluding that the SEC is on to something far more serious than scamazon is letting on to. It all started way back when, when Joy Covey, the first CFO, started issuing these crazy pro-forma financial reports on earnings. Everyone laughed out loud the first time but then started to go along with her program as the mania got into high gear.

And I know they have been playing games in classifying reported costs making it nearly impossible to figure out if these jokers would ever make money if transaction volume could get high enough, which of course is a big question in itself. And then there is the inadequate and selective disclosure which has been defended as not wanting to release trade secrets and lose competitive advantage. Now it looks like they have taken things to the next level, as some have suspected all along, and are misrepresenting material facts.

Why this stock didn't get oosiked bloody last week is beyond me.
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