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Non-Tech : Cendant Corporation (NYSE:CD)

CD 6.140

-17.5%

Dec 5 9:30 AM EST

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To: jjs_ynot who wrote (1246)	7/26/1998 12:28:00 PM
From: VALUESPEC	Read Replies (4) of 3627

<<In addition to the immediate departure of Mr. Forbes, Henry Silverman should also be put on a probationary period by the board of directors.>> I suppose you don't think the BOD had anything to do with HFS acquiring CUC? Maybe Henry Silverman should put the board on probation for not guiding him in such a way that allowed him to find the massive fraud that Forbes empire entailed ! If Silverman should have found the problems before the merger, than what is Forbes level of guilt since he was CEO of CUC for years and years while massive fraud was going on? Who would have believed Forbe's high ranking managers were so capable of such a large deception? Under Silverman's guidance, the fraud was found within six months. Isn't it amazing that for at least three years Forbes couldn't find it? What do Forbes and President Clinton have in common? Their denial is only eclipsed by the magnitude of their offenses. Forbes now: I didn't do anything wrong. Clinton before his first election: I didn't have an affair with Jenniffer Flowers ! Later, of course, during a sworn grand jury deposition, he said he did ! And he sat with his wife on national TV and said he didn't do it ! Will Forbe's darker side be proven, too? Will some, like they are with President Clinton now, believe lies and ignore the obvious? VALUESPEC

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