Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 220.28

-6.4%

Nov 20 3:59 PM EST

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To: derek cao who wrote (23538)	8/28/1998 4:00:00 PM
From: Katherine Derbyshire	Read Replies (2) of 70976

>>My questions: why private companies do not need disclosure? Is the "Public" in public company means anything to you? << You're missing my point, I think deliberately. Investors in private companies do generally have a fair amount of information about the company's finances. Non-investors have no need for the information, as they have nothing at risk. (On the example of the plumber, I don't need to know his balance sheet, but I do have a need to know whether he's licensed or not. And he's required to make that information available.) My point is not that private companies should be transparent, but that PUBLIC companies in other parts of the world do not disclose as much or as accurate information as PUBLIC companies in the US do. For examples, start with the recent Wall Street Journal article about Russian accounting practices and move on to the great mystery about exactly how much bad debt Japanese banks have. Many of the proposed reforms in both countries have to do with these kinds of issues. >>IMHO, Russian's trouble was caused by the gap between "unlimited commitment" of government and limited revenue of their raw material export which is hammered by the aisa flu. And Aisa flu is caused by unsustainable saving rate of AVERAGE asia people.<< I think we're going to have to agree to disagree on this one. The Asian people are still saving as much, or more, than they ever did, which suggests that their savings rate is indeed sustainable. >>Re:300% debt-to-equity ratio? Which is caused by government intervention. Without government's back or IMF's, no people in their right mind will loan them the money. << The debt-to-equity ratio got that high before the IMF was involved. I don't know enough about it to know if Citicorp et al actually knew about the ratio and decided it was okay. If they did, Citicorp shareholders should sue the corporate officers to within an inch of their lives. Katherine

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