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To: Skeeter Bug who wrote (98036)	4/25/2001 9:29:39 PM
From: patron_anejo_por_favor	Respond to of 436258

<<Pro Forma" usually backs out expenses and revenues related to acquisitions or "unusual" business conditions << like interest on debt? ;-) no joke - that is amzn's view. Well, AMZN is an "unusual" company....<G>

To: Skeeter Bug who wrote (98036)	4/26/2001 6:26:31 AM
From: Earlie	Respond to of 436258

SB: This whole "pro-forma" scam is a joke. Unfortunately, it is a joke that will prove expensive for investors as it masks both free-falling earnings as well as deteriorating balance sheets. I am amazed that the SEC lets them get away with this BS. Incidentally, the use of this nonsense is spreading. One example of how this process covers up problems is the "one-time-only charge". A company can report bogus profits for several quarters by moving costs over to the balance sheet, then clean up the growing balance sheet mess by writing down the smelly "asset" (cost). The analysts of course look the other way and never castigate the company for this semi fraudulent practice. The list of such activities is long and no doubt getting longer. The best practitioner of this art is Louis, the estemed leader of the IBM band. Best, Earlie

To: Skeeter Bug who wrote (98036)	4/26/2001 6:27:04 AM
From: Earlie	Respond to of 436258

SB: This whole "pro-forma" scam is a joke. Unfortunately, it is a joke that will prove expensive for investors as it masks both free-falling earnings as well as deteriorating balance sheets. I am amazed that the SEC lets them get away with this BS. Incidentally, the use of this nonsense is spreading. One example of how this process covers up problems is the "one-time-only charge". A company can report bogus profits for several quarters by moving costs over to the balance sheet, then clean up the growing balance sheet mess by writing down the smelly "asset" (cost). The analysts of course look the other way and never castigate the company for this semi fraudulent practice. The list of such activities is long and no doubt getting longer. The best practitioner of this art is Louis, the esteemed leader of the IBM band, although Waite over at GTW gets a runner-up prize. Best, Earlie