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To: Rational who wrote (9007)	11/22/1997 7:59:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 18056

<<<This shows how falling companies lie to their shareholders.>>> Sankar try to explain that to the guys on other treads - THEY WILL LYNCH YOU. I pulled out of CA for similar reason mistatements from CA management,about their business, market share etc. in an atempt to move CA stock price higher. After pointing out and trying to prove that CA is misleading investors most of the tread perticipants were/are trying to lynch me. In VLSI tread I got same treatement. It just shows the high stake of speculation in individual stocks, and I also presume lots of leverage. Haim

To: Rational who wrote (9007)	11/22/1997 8:12:00 PM
From: Snowshoe	Respond to of 18056

>>This shows how falling companies lie to their shareholders.<< Denial is a phenomenon exhibited by both institutions and individuals. But however grudgingly, at least the Japanese authorities are finally closing insolvent institutions. Let's hope that the rest of Asia faces up to reality a lot faster than Japan did. It looks like all these IMF bailouts may help force in the necessary reforms. I experienced the tremendous Alaska boom and bust cycle in the eighties. When I arrived in late 1982 the apartments had a 1% vacancy rate. Easy credit and gushing oil wealth fueled a building boom that collapsed in late 1985 when oil prices crashed. Over the next three years about a quarter of the property was foreclosed and most of the banks failed. Everyone was in total denial for the first year. People kept holding on to property hoping the prices would rise. But no one could borrow, and real estate went into a downward spiral that bottomed out three years after the initial shock. During the second and third years mechanisms were put into place for the orderly disposition of property at cut-rate prices by the government bailout agencies that got stuck with the mortgages. There was a lot of terrible pain for the losers, but also much benefit to those who were able to buy at the bottom. After three years, the economy began growing again. The moral of this story is that when faced with such a crisis, one has to bite the bullet and not dither around. As for the U.S. companies, I would not say they are lying. Rather, they are being "selective with the truth". <ggg>

To: Rational who wrote (9007)	11/22/1997 8:22:00 PM
From: robnhood	Respond to of 18056

Sankar,,,,Lying and cheating is allowed in this game,,,thats what makes it the best F %$#$%@ng game in the world,,,,it"s human, human, human,..... rrman

To: Rational who wrote (9007)	11/22/1997 9:03:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Sankar: How dare you call our premier corporations, America's pride, LIERS? (VBG). These are at most, slightly optimistic mistatements, or let call them minor inaccuracies, overstatement of the facts, or lack of statement of the facts (also known as "white lies"). All these are well covered under the new "safe harbor" legislation (and neat "albeit at the end of each news release). You know where they learned this art, from the Nixon white house, they created the now famous term: "Plausible deniability". They are engaging in politics as usual. Why are you outraged (you should have known that to be the fact from CTYS "open disclosure policies")? Zeev