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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?


To: Tassi who wrote (75618)4/11/2002 11:37:10 AM
From: Brasco One  Respond to of 122087
 
major lol for aol!



To: Tassi who wrote (75618)4/11/2002 11:53:52 AM
From: Anthony@Pacific  Read Replies (1) | Respond to of 122087
 
Included in the filing is this passage:

"On or about June 1, 2001, the Company provided the official Creditors'
Committee with information concerning alleged improprieties by certain former
officers and others of the Company. By agreement of the parties, the Creditors'
Committee, through its counsel and financial advisors, conducted a more
formal inquiry and investigation. The Creditors' Committee has concluded that
substantial credible information exists, which establishes that funds may have
been misappropriated and, potentially, fraud has been perpetrated by certain
former officers of the Company. Under the confirmed Plan, any and all claims
against former officers of the Company that may be asserted by or on behalf of
the Company and its respective creditors and shareholders have been assigned to
a litigation trust."



To: Tassi who wrote (75618)4/11/2002 10:50:14 PM
From: FR1  Respond to of 122087
 
I hear 2 schools of thought on IBM.

1) They have always cooked the books and nobody had time to sort through it all - just too complex. However, the Government now has time to sort through it all so they are going to make reporting changes.

2) They are just redoing the books and setting the bar super low for the new CEO so he can look good in quarters ahead.

$1B seems way too much for a casual miss.