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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: VALUESPEC who wrote (507)	5/6/1998 9:19:00 PM
From: Ibnbatutaa	Respond to of 3627

A few tid-bits for the birds, no major accounting analysis here: 1.Most people who deal with Cendant (i.e. buy any of its products, not the stock) do not know they are dealing with a Cendant subsidiary. As such this accounting brouhaha (henceforth in this post referred to as "IT") isn't going to impede revenue. 2. IT may temporarily affect Cendant financing / bond rating and drive up the cost of borrowing, but I feel each subsidiary will be judged on its own merits, and not Cendant overall.....AVIS will be treated as a separate entity c/w CUC. 3. CUC and the membership clubs are competitive price-wise...go try it for yourselves....or membership would not have grown 4. CUC accounts for c. 18% of CDs revenues...IT should not have a major impact on CD as a whole 5. CD Management has improved the business/ profitability of the other subsidiaries. Due diligence prior to the CUC acquisition would have been exercised, and I assume CD hired someone (a big 4 auditor or investment bank to perform this function). Atleast IT has surfaced soon after the acquisition rather than a few years later, and IT is a reflection on the people who resigned / were fired rather than the main CD team. I took a position at 24....and will now wait to watch the show. Regards Ibnbatutaa