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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (17590)	2/9/2001 6:50:17 AM
From: Jeff Jordan	Respond to of 21876

I'm glad CNBC's Mark Hains is smart enough not to throw the word fraud around so quickly....as CNBC did earlier..."a good example of finacial news sensationalism reporting' old news....being reported by the WSJ!( I'll be adding to my position today) >>>>The SEC is looking into how Lucent books sales, including how it gives customers one-time discounts, the Journal reported. The agency is also investigating revenue recognition on distributor sales, the paper said. The paper quoted a company spokeswoman as saying Lucent is cooperating with the SEC, and that it notified the agency of its accounting problems on November 21, just before it publicly announced them. Lucent's review of its fourth-quarter revenue began when the company identified $125 million in improperly booked revenue. The chief accounting problem was $452 million in revenue taken back after Lucent discovered equipment that was sold to distributors but never passed on to customers. The SEC and PriceWaterhouseCoopers, which is the company's auditor, both declined to comment on the matter

To: Jeff Jordan who wrote (17590)	2/9/2001 2:52:15 PM
From: architect*	Read Replies (1) \| Respond to of 21876

jeff...on 1/09/2001 Lucent announced a similar $679 million accounting problem, Is this old news or a new monthly trend? biz.yahoo.com snip from 1/9/2001 Lu press release "Lucent improperly recognized an estimated $679 million in revenue and announced that it would restate its fiscal fourth quarter financial statements." <Holographic data storage> Lucent has 62 patents referencing "Holographic technology" 164.195.100.11 here's the patnet on <Holographic data storage> #6,163,391 Method and apparatus for holographic data storage 164.195.100.11