Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: dbblg who wrote (2878)	6/30/1999 8:16:00 AM
From: Mike Buckley	Read Replies (1) \| Respond to of 6974

Thanks for posting that article. If the court approves the settlement, I'd like to see the guy fired simply because he puts Siebel at risk by not being above suspicion. I don't know if there is a legal basis for firing him for that reason, but I'd like to see it happen if there is. If Informix had to settle for such an historically huge amount because they had a "weak case" in the eyes of their attorney, and if their auditor felt compelled to agree to a $34 million cash settlement, the guy is certainly not above suspicion. On the other hand, Siebel's board does have an internal audit committee that meets quarterly with the independent auditors. Management, by intention, isn't included in those meetings. Charles Schwab was on the audit committee last year. (I don't know about this year.) I'm reasonably confident that if anything looked shaky, he would resign from the board (though more drastic action might come of it). I did breathe a sigh of relief to learn that Ernst & Young is not Siebel's independent auditor. That, with the murky history of our CEO, would have been too much of a troubling coincidence. --Mike Buckley