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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (174004)	6/20/2002 3:45:26 AM
From: maceng2	Read Replies (1) \| Respond to of 436258

Hey! what kinda talk is that? -g- [I think we still have some crashing to do. There has been some overbuilding during the bubble, so a significant portion of tech has to go (imho)...pb] Big names in bid to revive faith in business By Andrew Hill and Adrian Michaels in New York Published: June 19 2002 19:26 \| Last Updated: June 19 2002 19:26 A high-powered panel of former executives, regulators and academics will on Thursday throw its weight behind efforts to shore up crumbling confidence in corporate America. The panel, being launched on Thursday in New York, will examine whether tough action is needed in areas such as stock option accounting and executive pay. Joining the initiative are heavy-hitters such as Paul Volcker, former Federal Reserve chairman, and Arthur Levitt, former chairman of the Securities and Exchange Commission. Both have been outspoken critics of the erosion of ethical standards in US business and the need for reform. Their presence will add weight to the best-practice guidelines that the panel, created by the Conference Board, the business research group, plans to issue in September. Other business groups, such as the Business Roundtable, a lobby group for chief executives, have also issued broad corporate governance guidelines but have been criticised for resisting reform. John Snow, chairman of CSX, the rail and transportation group, and a former chairman of the Roundtable, will chair the Conference Board's panel with Peter Peterson, chairman of the Blackstone Group and a former US commerce secretary. At a New York press conference scheduled for Thursday morning, they will lay out areas where the commission expects to address gaps in corporate practices. The scope of the panel is wide, ranging from executive compensation to auditing and accounting standards, and the relationships between bankers, lawyers, insurers and corporations. In a statement, Mr Snow and Mr Peterson said action was essential because "the American corporation is in crisis today and some of the toughest issues . . . have yet to be fully addressed". Other members of the panel include John Biggs, head of TIAA-Cref, the big institutional investor, Andrew Grove, chairman of Intel, John Bogle, former chairman of the Vanguard fund mangement group, and Ralph Larsen, recently retired chief executive of Johnson & Johnson, the pharmaceuticals company. Pressure for changes in governance, accounting, and on Wall Street began with last year's collapse of Enron and has increased as various corporate scandals, from Xerox to Tyco, have come to light. Celebrated investors and money managers such as Warren Buffett, head of Berkshire Hathaway, and Bill Miller, of Legg Mason, are behind other initiatives to arm outside directors on company boards with the information they need to grill auditors and management. Hard-hitting legislation to reform the accountancy profession also took a step forward this week when the Senate banking committee approved a plan to impose stringent controls on the accounting industry, including a ban on performing most non-audit services for clients. The bill faces a tough passage on the floor of the Senate but the quickening pace of corporate scandals, and looming November elections, have galvanised politicians on both sides to legislate. Today the SEC will spell out in greater detail its plans for audit reforms and a new beefed-up accountancy regulator. Harvey Pitt, Mr Levitt's successor as SEC chairman, has said the SEC will step aside if Congress passes legislation but if those efforts fail, the agency's plan will be ready for implementation by the end of the year. The accountancy profession is likely today to voice alarm at elements of the SEC plan news.ft.com

To: clochard who wrote (174004)	6/20/2002 7:26:40 AM
From: LLCF	Respond to of 436258

<so don't be a short loser! > LOL, no... that's pretty hard right now! DAK

To: clochard who wrote (174004)	6/20/2002 8:15:15 AM
From: oldirtybastard	Read Replies (1) \| Respond to of 436258

LOL QCOM may be phucked too, not only the NOK junk but even worse china unicom's #'s for sigining up CDMA users are below expectations ho ho ho Thursday June 20, 5:19 am Eastern Time China Unicom Maintains 2002 CDMA User Target Of 4 Million HONG KONG -(Dow Jones)- China Unicom Ltd. (CHU) said Thursday it is maintaining its 2002 target of 4 million subscribers for its code division multiple access, or CDMA, network, despite market concerns that the aim is too high. "We maintain our target for the CDMA network," spokeswoman Sophia Tso said. China Unicom signed up 83,000 new CDMA subscribers in May, 38% fewer than what it signed up in April, bringing its total to 785,000. Investors are concerned that it may not be able to reach its subscriber target, as it has signed up less than 20% of its user target in the five months since the network was launched. The company's parent, from which Unicom is leasing CDMA capacity, initially blamed the network's slow start on the handsets, and made a deal in May to buy them in bulk from China Unicom to bring down the price....