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Pastimes : Rage Against the Machine
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To: Thomas M. who wrote (375)6/12/2002 2:23:29 PM
From: James Calladine of 1296
 
ANOTHER DAY IN THE MARKETS:

Omnicom tumbles following latest WSJ article

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10:33 ET Omnicom is dropping $13.16, or 17 percent, to $64.38, in early action. An article in Wednesday's editions of The Wall Street Journal raises questions about the company's accounting for acquisitions and its handling of a series of "soured" Internet investments. The article links to resignation of Robert Callander from his chairman of the board post last month to his doubts about the purpose of Seneca, a special company created to hold Omnicom's minority investments in 16 Internet firms, and Callander's unwillingness to sign off on the off-loading of certain problematic investments and a proposal to purchase two Internet firms.
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