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Technology Stocks : Nortel Networks (NT)
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To: Jaknik2 who wrote (13870)5/16/2004 1:21:53 AM
From: Paul Smith  Read Replies (2) of 14638
 
From what I can gather, all of Nortel's expenses were correct but some were accounted for in the wrong period. The coming re-statement will shift the timing of the historical expense recognition only. Nortel is and will remain Free Cash Flow positive. With accrual accounting, you can fake earnings but you can not fake cash or cash flow. Because Nortel's cash and cash flow are real, the current situation is not as bad as some may believe, IMO.
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