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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: reaper who wrote (198649)10/20/2002 2:35:43 AM
From: Bill/WA  Read Replies (1) of 436258
 
reaper, excerpt from Sandspring posted by Les;

Sears did of course announce Thursday that it has a credit card accounting problem suddenly rearing its ugly head. Presumably credit card receivables, previously booked to the profit column of the P&L ledger and carried as an asset on the balance sheet, had insufficient delinquency reserves and now represent the nasty culprit. Subsequent to our article, we had actually heard additional rumors that this credit card accounting problem was lingering at Sears. Many smart folks with solid forensic accounting abilities actually saw this coming. Congratulations are truly due them.

As they say in the marines, "UH RAH" to you!
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