PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

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Oct 29 5:00 PM EST

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To: Melissa McAuliffe who wrote (4485)	1/30/1999 8:56:00 PM
From: Chuzzlewit	Read Replies (1) of 4509

Melissa, let me add one more point: Levitt and the SEC are attempting to get the companies to retroactively alter their accounting. This is tantamount to a change in accounting principles. And while I'm adding something, let me add a few more somethings. CD got into trouble, not because of an issue regarding a change in accounting rules, but because they ignored the accounting rules with regard to the capitalization of advertising expenses (a no no, but debatable), and the use of bogus revenue numbers (fraudulent!). And yet another something while I'm adding things: shareholders have every right to be upset at the practice of using options as a supplement to salaries. But we have ourselves to blame by voting for these horrible instruments. I have no sympathy for a shareholder suing on that basis. Shame on him! He knew going in that that was the way PSFT and most other tech companies do business. It's spelled out in the proxy statements and in the 10-Ks. TTFN, CTC

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