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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: QwikSand who wrote (50546)	7/22/2002 3:45:31 AM
From: Steve Lee	Read Replies (1) \| Respond to of 64865

Looks like McNealy is waffling up his excuses for not certifying Sun's results. Could SUNW be the next BK?

To: QwikSand who wrote (50546)	7/24/2002 5:34:37 AM
From: technologiste	Read Replies (4) \| Respond to of 64865

I think Scott McNealy's recent comments about his apparent reluctance to certify Sun's financial results have definitely led to more questions than answers. Surely, there is some reasonable explanation why the CEO of a Fortune 500 company would be reluctant to attest that his company's management is not engaged in some kind of accounting fraud. Fortunately, I found an article on salon.com that seems to paraphrase his remarks in terms that illustrate his reasoning, and that put any concerns are about deceptive accounting, firmly to rest: What investors should actually read McNealy as saying is: "My job as CEO of Sun is to be the chief pitchman, to glad-hand executives at my own level and convince them that Sun products are the right 'solutions' for their corporate needs. Determining whether the solutions actually work – or whether it's even profitable for my company to sell them (and how would I know anyway?) – is not my primary responsibility. In fact, if they don't work, or if our accounting is misstating our long-term profitability – well, frankly, I resent the suggestion that I ought to have any legal accountability for my ignorance." salon.com