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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.28

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To: Bill Harmond who wrote (138570)	2/5/2002 9:45:57 AM
From: Glenn D. Rudolph	Read Replies (1) of 164684

Finally there is this crisis of confidence due to accounting irregularities,* and the witch hunt is on.* Bill, You have a funny way with words. "Irregularities" That implies a slight variation from what should be accurate and "normal." Let's just call it what it is "Fraud." "With hunt" I assume you do not believe in withces so you are assuming people are looking for problems that do not exist. Let's take your friendly Amazon.com. They commited fraud by pledging securities for leases and continuing to tell their investores they had that money to use as lquidity. They also claimed they had more than adequate liquidy for all of fiscal 2001. If you remove the $100 million gifted by AOL, you would have Chapter 11 now. During a brief witch hunt we find Tyco making billions of dollars of acqusitions without properly reporting them. The acquisitions added to revenue so growth could never be properly figured. You have Amazon that violated a variety of SEC regulations. Should we move to Global Crossing? This is not a witch hunt. There are real fraudulent bookkeeping problems. They are not irregular. They are illegal.

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