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Politics : PRESIDENT GEORGE W. BUSH
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To: Bill who wrote (271989)7/9/2002 4:06:06 PM
From: jlallen  Read Replies (1) of 769670
 
I have heard from a reliable source that the entire transaction was for about $15 million. The company wanted to spin it off and certain managers wanted to buy it, so the company loaned them on the order of $7-9 million. Harken reported the entire transaction exactly as FASB standards required. The SEC just didn't like the way it was reported because of the loan.
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