For heaven's sakes, rob, didn't they know it would be a huge undertaking? From the continual we need a few more weeks, a few more weeks ad infinitum, apparently not.
You can't get away from the fact that they are losing credibility. Cramer's a jerk, but he actually got this one right.
Tom,
You're right on all counts. However, I have to say I wonder how many other large companies who would undertake to redo over 3 years of financials would be able to give a firm date from day one and how many would be less religious about some details and say it's good enough. Sure Owens is most likely over doing it but given the stakes and legal issues, isn't it best to say they missed several dates but the numbers are clear and reliable. Owens should've given less firm dates to start with from the beginning but would that have made the SEC, OSC and everybody else happy knowing NT can't provide a firm date? NT is in the process of clearing out any skeletons there may be left, but I'm willing to bet that Cisco, Microsoft, Lucent, Alcatel, Intel etc... aren't saints when it comes to financials. |
