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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: Jacques Newey who wrote (7929)	6/3/2003 9:21:13 AM
From: Arrow Hd.	Read Replies (1) \| Respond to of 8220

Jacques, you can call them "shenanigans" if you wish but the fact is IBM is more forth-right and conservative than most large companies. Accounting is not a science or law of physics. You, or others, may not like how they run their business but that doesn't mean it is illegal or "shenanigans". People make a living by trying to point out all the "problems" or maybe they have puts or are short and are actually trying to drive the stock down! Could that be the agenda? This SEC issue is on revenue recognition. I answered that question for Victor and others last night. But of course that is ignored. The real agenda here is every IBM hater with a grudge is going to come out of the closet to take their best shot. Unfortunately that won't be good enough. Leading with your chin is not as effective as leading with some facts regarding illegal accounting issues which no one has. If the market wants an excuse to retrace some of its gains over the past few months then it will find one. But to hang its hat on a revenue recognition issue at IBM is laughable and bogus. As an aside, the SEC has been doing these revenue issue witch hunts on a cross-industry basis the past year. The food industry was the latest casualty.