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Technology Stocks : The Learning Company (TLC)
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To: Bush Hogger who wrote (6082)11/17/1998 7:31:00 PM
From: paul richards  Read Replies (2) of 6318
 
fleckenstein article tonite:
one page two WSJ . Arthur Levitt has become very serious about getting
corporations to clean up their act. He says that financial reports are
descending into "the gray area between legitimacy and outright fraud,"
with unnecessary special charges or loss reserves and inflated or
improper revenue (recognition). Well, Art, you hit the nail on the head,
and the number of companies that are doing this is astronomical. I
would venture to say that less than 10 percent of companies report
results in line with their actual results. I applaud this crackdown. It is
about time we bring some truth to the financial markets.
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