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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (61209)	10/30/2001 3:54:35 PM
From: Ali Chen	Read Replies (1) \| Respond to of 275872

"The current GAAP is THE STANDARD" Wow, in all capital letters! Am I supposed to be scared, like from a Halloween costume? You probably don't know what the GAAP stands for? I can help you. It is "Generally-Accepted Accounting Practice". Practice, not STANDARD. Accepted by some, but not accepted by many financiers and academic scholars. As every artificial rule, the practice not to include stock buybacks in the expense report maybe had reflected some realities 20-30 years ago, but not anymore. When the stock buyback expense is so enormous that exceeds 2.5X operating profit like in current Intel's case, the "practice" becomes no fun, and even could be qualified as accounting fraud and attempt to mislead investors. If you prefer to maintain that surreal and fraudulent image, be my guest, but I don't think the scam of this scale can continue for long. I prefer to deal with reality, which is $600M loss for Intel in 3Q01.