Yahoo post that strikes me as well reasoned:
05/22/04 10:26 am
Msg: 518615 of 518628
The past is the past.
The folks who moved monies from one year to anaother are fired. Yes, there is indeed an investigation. What those people did was wrong. However, they are no longer here. The only money they took was the amount in unearned bonuses derived from moving some of one year's sales contracts figures forward in order to pad the figures for a current year.
NT Board of Directors caught the issue.
NT BOD reported it to the SEC.
NT fired the culprits.
NT hired new CEO of high character to lead it forward.
NT hired an excellent forensic accounting firm to ensure books are put in proper order.
NEW NT CEO has assured that total sales and income for the total period in question are not affected.
NT continues to win impressive contracts (3G, VoIP & Wireless networks)
NT has its cash (minus the crumbs relating to the paddes bonuses, which yes, an investigation should continue to get it back--an investigation that will, over time, focus on the folks fired--the BOD acted appropriates to maintain the integrity of the company), NT is generating more cash, and NT is in best position among its competitors to generate even more cash going forward.
The investigation (which NT initiated by brining the issue to the SEC) will go forward to ensure all is properly accounted for and that the individuals, now no longer with the company, are held responsible for their deeds. I hope they are forced to return their bonus bucks (which are paltry compared to the sales and revenues figures, which are intact--the investigation will just finilize that the past sales and revenue number are accounted for now in the proper time frames, that's all)
The PAST is THE PAST. As an investor, THE FUTURE IS THE KEY. NT has the best technology in its sector and it is selling! The NT BOD is taking all the right steps to ensure the company going forward will not allow anyone to 'borrow' numbers from upcoming contracts in order to stick them in bonus formula calculations to create unearned incentives. |
