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To: Dealer who wrote (53562)7/8/2002 7:06:39 AM
From: stockman_scott  Respond to of 65232
 
Merck Booked $12.4 Billion in Revenue It Never Collected

Monday July 8, 12:06 am Eastern Time

Drug giant Merck & Co . recorded $12.4 billion in revenue from the company's pharmacy-benefits unit over the past three years that the subsidiary never actually collected, according to a filing with the Securities and Exchange Commission, Monday's Wall Street Journal reported.

Merck's Medco unit, which manages pharmacy-benefit programs for employers and health insurers, included as part of its revenue the co -payments collected by pharmacies from patients, even though Medco doesn't receive those funds. Between 1999 and 2001, co -payments represented nearly 10% of Merck's overall reported revenue.

Merck first disclosed the accounting treatment in an April SEC filing as it prepared to sell 20% of Medco in an initial public offering. But it wasn't until a subsequent SEC filing on Friday that the company said exactly how much revenue was involved.

biz.yahoo.com



To: Dealer who wrote (53562)7/8/2002 9:23:49 AM
From: stockman_scott  Respond to of 65232
 
InfoSpace (SI's parent firm) may be around longer than folks realize...

Message 17701581

<<...InfoSpace is well positioned with no debt and more than $200 million in cash and short-term investments...two of the company's three business units were profitable on a pro forma basis in the first quarter...>>



To: Dealer who wrote (53562)7/9/2002 1:50:49 AM
From: Dealer  Respond to of 65232
 
restorethetrust.com

Contact your Senator.....they will be voting on this bill sometime later this week.

ABOUT RESTORETHETRUST.COM

RestoreTheTrust.com is a campaign of concerned investors
to secure passage of critical legislation: a bill authored
by Senator Paul Sarbanes called the "Public Company
Accounting Reform and Investor Protection Act of 2002"(
S. 2673). RestoreTheTrust.com is led by Nancy M. Smith,
Former Director, Investor Education and Assistance,
Securities and Exchange Commission.

dealie