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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (10791)	5/14/1998 12:29:00 PM
From: bob zagorin	Respond to of 14631

i thought it would be taken as a negative too but after a brief sell off it seems that ifmx is doing quite well today.

To: Robert Graham who wrote (10791)	5/14/1998 1:33:00 PM
From: Austin	Read Replies (1) \| Respond to of 14631

Informix dismissing E&Y should not be a big surprise or taken negatively. I believe it was more a matter of "when" it would occur, not "if". Remember, Bob F. & Jean-Yves (CFO) have been cleaning up the mess that E&Y was part of under the old regime. E&Y is also named in the consolidated lawsuit against Informix. Bob F. is truly creating the "New Informix". I personally think KPMG's silicon valley software audit group is very competent and very conservative. This fits Bob's model. I think this is definitely a positive event, not a negative one. Perhaps with a touch of irony, the new independent auditor, KPMG, was Illustra's auditor and was dismissed by the "Old Informix" after the acquisition.

To: Robert Graham who wrote (10791)	5/15/1998 1:43:00 AM
From: Katz R Us	Read Replies (2) \| Respond to of 14631

Bob, I respectfully disagree completely with your opinion on the independent accountants. It is not at all rare for companies to change auditors! Also, there is no way that the independent accountant would issue a statement as to why a change was made. That would not only be stupid, but also against ethics as promulgated by the American Institute of Certified Public Accountants. If there were a problem with GAAP applications, the accountants' opinion letter, which I am sure is published somewhere, would have so stated. In other words, it would not have been an unqualified opinion. Maybe they got a better price! Katz