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Non-Tech : Any info about Iomega (IOM)?
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To: Mark Lijewski who wrote (9382)10/19/1996 12:33:00 AM
From: Cogito   of 58324
 
Yes, Mark, of course I understand the concept of cooking the books. I didn't just fall off the turnip truck. I was responding to bull's completely unsubstantiated comments about the books being "cooked so hot it's going to burn" or some such noise.

The one specific point he made was that Iomega did not set aside reserves to account for rebates for drives sold in this quarter. I merely pointed out that this was a factual error on his part.

Books can only be cooked so far. Actual earnings and profits will eventually show. So if the books for this quarter are made to look better by "creative accounting" then at some point down the line, the results will look worse. If you look at Iomega's reports for the last several quarters, you can only draw the conclusion that they are playing it pretty straight.

That is, unless you have some overriding motivation to draw the opposite conclusion.

- Allen
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