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Strategies & Market Trends : Value Investing

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To: Joan Osland Graffius who wrote (15040)	8/16/2002 11:49:20 PM
From: mepci	Read Replies (1) of 78517

Yes. Up to the year 2001, they were lucky not to have to show the losses due to the put gamble. They gambled on the market and were able to hide the loss due to profits from put sales and call purchases. When the market turned against them, they are showing a loss of $2.83B. They are keeping this loss in treasury hoping that the market will turn around from them. If the option exercise price is close to $25, they can recover the cash by cash from option exercise and move the cash into stockholders equity. This is the biggest scam to steal stockholders money in a legal way. GAPP need to be changed to close this loophole.

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