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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (69442)	10/22/1999 8:17:00 PM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

SEC, Big 6 accounting firms, and GAAP also gave the thumbs up to HBO, Oxford, USA Waste etc. Tom

To: JRI who wrote (69442)	10/22/1999 9:05:00 PM
From: pater tenebrarum	Respond to of 132070

JRI, is that just an assertion on your part, or can you substantiate this? i have to admit i haven't looked too closely into the TYCO manner per se, but i do know that Tyco makes an awful lot of acquisitions and is conveniently incorporated in the Bermudas...i read a short synopsis of Tice's arguments somewhere but don't remember the details. however, it sounded credible and i know that Tice is no fool when it comes to research. what's more, he was NOT short Tyco, so he didn't profit from releasing his critical report. Wall Street obviously remembered that there were instances in the past when companies that indulged in lots of acquisitions blew up accounting-wise, Cendant for instance, and sold off Tyco just in case. whether that reaction was justified or not will be seen...so far the only voices i have heard in defense of Tyco were people who are long the stock (you are probably one of them), Tyco management (no big surprise, like i said) and the occasional WS analyst (we all know they would never lie...incidentally they would never issue a 'sell' either, since it may cost their employers investment banking fees. and i imagine Tyco is a BIG source of investment banking income). so direct me to a link where the SEC lauds Tyco's accounting practices and maybe i will consider buying some Tyco on the dip... hb