Siebel Systems (SEBL) - strong buy? Message Board

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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: hueyone who wrote (5946)	6/8/2002 1:53:23 PM
From: Mike Buckley	Read Replies (1) of 6974

Huey, Many independent observers whose pockets are not connected to the stealth compensation pipeline in some manner have readily spotted the flaw. To name a few: The Financial Accounting Standards Board ... Standard & Poors I don't believe FASB is an independent organization. If it was, it's highly unlikely that it would condone accounting companies selling consulting services to the very compannies for which they are producing supposedly indpendent audits. And I don't think that FASB or S&P can be justifiably complimented with "readily" spotting a flaw. It wasn't until there was a huge political and public relations fiasco brought on by the Enron debacle that it became a significant issue for either of them. S&P changed their way of analyzing corporate financials only a month or so ago. Even as we speak, FASB still hasn't made any change I'm aware of about the treatment of stock options. I'm glad that these organizations might be finally coming around, but let's not give them any credit for stepping up to the plate in the interest of shareholders in a timely basis when they should have done so long ago. --Mike Buckley

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