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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?


To: Tatnic who wrote (561)11/3/1999 1:24:00 PM
From: Tom_  Read Replies (1) | Respond to of 3770
 
Re TYC's "mistakes"...

Hi CC,

I think you may have misspoken. If not, could you post a link to the 'letter' you just referenced, (TYC "admitting to their mistakes").

If you are referring to today's press release about the Annual General Meeting, previously posted on the thread:
biz.yahoo.com
I don't see any admission of mistakes, but a vigorous defense:

These allegations are false and the concerns they have caused are unfounded. All of our accounting and disclosure practices are appropriate and in full compliance with generally accepted accounting principles (GAAP) and U.S. Securities and Exchange Commission (SEC) regulations.

And if you are referring to the CEO interview posted here, as I think you may be:
Message 11789958
then the same holds true. No admissions of mistakes, just a determination to go an extra mile.

To me that's the whole point in this buying opportunity. It was caused by a discredited critique by one man, (lambasted by all the street's analysts) and a NYT letter referring to past, and now irrelevant, practices.

JMHO.<g>

Best wishes,
Tom