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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: ghengis2 who wrote (4523)	3/22/2000 3:35:00 AM
From: swisstrader	Read Replies (1) \| Respond to of 6018

ghengis: good to see you here on SI...your input on the RB boards have been invaluable...all quiet here for now, but when Jay, Malcolm, Taikun, Logan, Edwin, Yamakita, etc start kickin it, things get pretty lively...welcome. On the Economist series of slam articles, one has to wonder what the ulterior motive here is, if any. Just seems a little out of character for them to rehash the same story on ZD. Furthermore, the author makes an admission that he is judging Softbank by a set of US accounting rules and never broaches the subject of whether or not this is legal in Japan. Nor does he address the intersection between US acctg rules for ZD, as a US entity and Softbank, a Japanese concern. The author also reveals the "shocking" news that the "financial engineers" (aka accountants!) still work for Mr. Son. As a shrewd financial negotiator, I would also want these savy accounting folks to continue to dream up every creative accouting rule in the book so long as it was legal.

To: ghengis2 who wrote (4523)	3/22/2000 4:00:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

"Investors in Softbank would do well to remember two things. First, The Economist has discovered the full extent of dealings between Mr Son?s private empire, Softbank and Ziff-Davis only because of the disclosure rules set by American stockmarket regulators. These are more stringent than the rules in Japan. Second, although MAC no longer exists, the financial engineers who dreamt up the structure still work for Softbank." Since the Economist knows everything, why don't they present the financial analysis that is such a concern. Are these guys economists or are they tabloid writers? Softbank can always sell a small piece of their Yahoo USA holdings in order to generate cash when they need it. They have actually done so in the past and can still do so if they want to pay the taxes. I suspect that some of us here on the board are in a somewhat similar situation in being stock rich and cash poor. The difference may lie in the ability of the Company to eventually use stock as a currency to make deals. Wasn't that part of the strategy when PCCLF took over Cable and Wireless HKT? More clever "financial engineering" might be in order here. <G>.