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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: William Hunt who wrote (25327)	6/30/1999 7:56:00 PM
From: t2	Respond to of 74651

Triggered by a January story in The Wall Street Journal, the SEC requested information on Microsoft to review its reserves, Maffei said, adding "this investigation will not be material to our performance This quote is why the stock is up afterhours. I am also glad that the email from former CFO to Bill Gates is not really any big deal (about smoothing earnings). In addition, in accounting ,"intent" is not a factor. It is just a matter of what the accounting standards have to say.

To: William Hunt who wrote (25327)	6/30/1999 7:58:00 PM
From: Alan Buckley	Read Replies (1) \| Respond to of 74651

[In the case, Pancerzewski's lawyer referred to a 1995 e-mail message from former CFO Mike Brown to Chief Executive Bill Gates. In the e-mail, Brown wrote: "I believe we should do all we can to smooth our earnings and keep a steady state earnings model," according to a court transcript.] This SEC investigation sounds harmless and routine to me. "Should do all we can" doesn't mean they intended to cheat, just to push the rules where possible. Such behavior is absolutely basic for all tax accountants. Brown, of course, has since moved on to be a senior NASDAQ officer.