GV- Do you think the reaction (overreaction) to TYC is due to the following logic (you have made reference): If TYC accounting is clean, why don't they just open up the books (again), explain (again) all the thousands subsidiary mess, yada, yada...vs. abandoning their growth and acquire strategy of the last few years..
(I'm assuming) the market believes that things must be rotten at TYC, since the simpler, less costly solution would have been to open the books, and, even regardless of accounting issues, one can now question how these 4 independent units will grow, given they won't have the acquisition muscle of the larger, former TYC...Why would Koz give up running the larger firm, to take a smaller piece of pie (and slow growing, at that). Doesn't make sense, especially for such a saavy manager..
Of course, all exasperated by Enron, but largely of TYCs doing, no? |
