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Technology Stocks : All About Sun Microsystems
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To: Carmine Cammarosano who started this subject7/22/2002 3:07:26 AM
From: QwikSand  Read Replies (2) of 64865
 
Excerpted from article in Monday's New York Times. Free registration required.

--QS

nytimes.com

...To be sure, some corporate chiefs think the calls for reform are an overreaction that threatens to distract them from their missions.

Scott McNealy, the chairman and chief executive of Sun Microsystems, said he was weighing whether to comply with the new requirement that he attest to the accuracy of Sun's financial statements.

"I haven't convinced myself that it is in the best interest of our shareholders," Mr. McNealy said. To truly comply, he said, would mean attending the quarterly book-closing meetings, which are typically overseen by the chief financial officer.

"That's what I'd be doing instead of being out here on the road, talking to customers and trying to generate more business for Sun," Mr. McNealy said from Chicago, where he had met with three large corporate customers on Wednesday.

He said he had asked Sun's lawyers to determine the consequences if he did not certify the financial statements. Mr. McNealy said many of the executives he talked with are equally concerned about the trend toward what they regarded as ill-considered regulation and a rising anti-business attitude. But few of them have said so publicly.

"My fellow C.E.O.'s are rolling over, paws-up on this," he said. "And I think that is a mistake."...
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