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Non-Tech : Barnes & Noble (BKS)
BKS 6.4900.0%Aug 19 5:00 PM EST
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To: NAGINDAS J.O.PATTNI who wrote (1312)5/22/1999 12:22:00 PM
From: Chuzzlewit  Read Replies (1) of 1691
 
Nagindas, you are making the mistake of believing that tax accounting and GAAP accounting are the same. They are not. For example, depreciation (GAAP) and ACRS (taxes) are different, and ACRS is controlled by a schedule. That's why there is often a difference between "provision of income taxes" and "taxes paid". You are correct however in pointing out that much of BKS losses come from BNBN. I expect that shareholders will receive a double benefit (although it doesn't make sense) --

1. Increased profits for BKS due to off-loading an expense center;
2. Increased share price because of the high stake in BNBN.

TTFN,
CTC
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