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To: llwk7051@aol.com who wrote (1828)10/20/1998 8:31:00 AM
From: John Arnopp  Read Replies (3) | Respond to of 4467
 
Robert,

I don't like the delay, either.

And since I'm not an accountant, does anyone know how they can recognize a gain if they haven't sold any TLAB? They are recognizing all of it, without which it looks like they would have had up to a 55 cent loss.

In any case, wouldn't taking all this gain now mean they don't have TLAB to use for earnings in the future? A large part of their smooth earnings growth results from the sale of securitites.

We'll have to listen and see.

--John