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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Tatnic who wrote (3476)	7/4/2002 10:09:30 AM
From: Howard Salwen	Read Replies (3) \| Respond to of 3770

Am I wrong (again)? It seems to me that the purpose of selling CIT was to raise cash to meet commitments in 2003. The news release says that they got $4.4B and that they need $1.5B in 2003. OK, it was less than expected for a number of reasons, but cash is cash. Writing off the difference between what they expected and what they got is not a cash event. The news article once again mentions accounting worries (where there is smoke there is fire). I believe that you and I agree on this. Namely, has anyone actually found any accounting problems? Would someone give me chapter and verse?