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Politics : RAMTRONIAN's Cache Inn

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To: Gutterball who wrote (4017)	9/30/1997 10:45:00 PM
From: Douglas Perkins	of 14464

OK - here's something I know hasn't been posted, even if it is off topic: WSJ/Barrons (paid sub required) points out a change in corporate accounting requirements could reduce the attractiveness of some blue chips - which should make CPQ's (or other growing companies) growth in income even more attractive: interactive.wsj.com GIST OF ARTICLE But a new accounting requirement promises a look behind the smoothly managed earnings gains for which some companies have become known. An additional profit figure required next year called "comprehensive income" will include extra adjustments for pensions, securities and overseas assets. According to a study by Bear, Stearns & Co., the new profit figure will likely expose more volatility in the earnings of many of the 30 companies in the Dow Jones industrial Average. For example, Coca-Cola has reported consistent, 17% annual profit growth every year since 1994. But if Coke had to report comprehensive income during those years, investors would have seen growth rates for this figure of 36% in 1994, just 4% in 1995 and 16% in 1996, the study says. "It doesn't look as smooth," concedes William Hensel, a spokesman for Coke.

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