John, Mike & Tom's <b>Wild World of Stocks</b> Message Board

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Technology Stocks : John, Mike & Tom's Wild World of Stocks

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To: John Pitera who wrote (2733)	5/9/2002 3:19:22 PM
From: Logain Ablar	Read Replies (1) of 2850

Hi John: From the article in todays WSJ it appears DYN did "cook" the books to inflate revenues. Normally I would say its become a value stock since this particular transaction had no bottom line impact but if they will do this it means they will push the envelope in other areas as well. I'd say the controller of cfo bites the bullet for this one. Surprised this was missed on audit. Seems too big an item to not be tested. It also appears they entered into a transaction to "evade" taxes. Never an easy item to prove (i.e. there is always some economic benefit / business purpose, just to save taxes doesn't count, <vbg>) and IRS audits are typically a couple of years behind (i.e. they are probably only auditing up to year 1998 now, they do 3 to 5 yr cycles). If they had not been auditing dyn before you can bet they will be now. Since there can be a fear of doing business with the company due to credit / liquidity concerns @ some point their trading has to be suffering now. This may be good to buy on a final flush.

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