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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (176272)6/28/2002 4:01:03 PM
From: reaper  Read Replies (1) of 436258
 
<<At the end of the conversation, her only remark was "It is not my job to question audited financials".>>

Then what was her job? To enjoy her surf-and-turf dinners w/ Bernie & Scott as Morton's.

I find this response especially comical because most WCOM valuation was based on "EBITDA". EBITDA is NOT a GAAP concept, and in fact in every prospectus or other financial disclosure where EBITDA is presented for "informational purposes" you will see the accountants very specifically declare that EBITDA numbers were not prepared or endorsed by them. Nowhere ever in a US audited financial statement will you ever see the term "EBITDA".

So for this woman who likely used EBITDA in a valuation framework to say she relied on AUDITED financials is just beyond comical. Frankly, some lawyer should be picking up on this and suing her to high heaven.

Cheers
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