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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (2537)	6/3/2003 4:07:15 PM
From: Boca_PETE	Respond to of 10065

Wally M: RE("The proposal will be subject to a public comment period.") Get the distinct feeling from Hertz's whining that public comments will be perfunctory and a coming requirement to "expense options" is a done deal. Never mind that will ignore the reality of stock option cash flows. I've said "the king has no cloths" many times on SI and many times in letters to the FASB. Nobody cares. Nobody is listening. FASB has their green eye shades on and it's full speed ahead - damn the torpedos! Bring it all down, man! Would not be surprised to see a requirement for single entry accounting soon (we'll save 50% compared to double entry accounting)- stupidity reigns. It will probably follow the old Soviet Union style of accounting. Maybe by the year 2073 someone will realize the new system is all wrong and Russian advisors will come in to advise Americans how to switch to capitalism and get our economy back on track. P