Mike, I always knew LU can beat IBM hands down, at inventing new ways to cheat, that is. -g-
<<The results for the quarter include a $50 million, pre-tax (or $32 million, after-tax) reversal of business restructuring charges, which were recorded in December 1995.>>
It's like, "we make a one-time charge, never mind it, it's NON-RECURRING, only once every quarter. Count the "operating results", will yer?" Then, in a while, say, "by the way folks, we've reversed that charge, now it's in operating earnings for current Q".
This way you kill two rabbits with one charge. -g- |
