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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (44367)	1/22/1999 6:12:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

I know a guy had two Corvairs. Loved 'em. I think he was the only one. Then one caught on fire and burned up. Changed his mind pretty quick. <g>

To: Knighty Tin who wrote (44367)	1/22/1999 6:16:00 PM
From: accountclosed	Read Replies (2) \| Respond to of 132070

MB, did you notice that part of the analysis of the IBM report was that their workstation/server biz was down as they were losing market share to SUNW. But the SUNW order backlog was down by 9%. Ho ho ho. Perhaps some of this internet infrastructure/tech revolution that is growing to the moon is slowing a bit?

To: Knighty Tin who wrote (44367)	1/22/1999 6:19:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

SEC might review U.S. companies' accounting practices Friday January 22, 5:54 pm Eastern Time By Peter Ramjug WASHINGTON, Jan 22 (Reuters) - The Securities and Exchange Commission is sending letters this month to more than one hundred companies that reported ''significant'' earnings charges in 1998, telling them the agency might take a closer look at their books for accounting problems. It is the latest chapter in the SEC's fight against what it views as some companies' liberal write-off policies that distort earnings. The letter, from Robert Bayless, chief accountant in the SEC's Corporation Finance Division, to the chief financial officers of 150 companies said the SEC may scrutinize charges for asset write-downs, restructuring activities or acquired in-process research and development. ''In connection with our focus on transparent financial reporting and potential earnings mismanagement issues, we may select your 1998 annual report for review,'' Bayless's letter said. As the companies prepare the documents, the SEC furnished in the letter ''commonly requested MD&A,'' or Management's Discussion & Analysis of financial condition and results of operations, that may apply to the charges they incurred. For example, if the charge was related to asset impairments, the SEC is asking for a description of the assets and the segments affected as well as the reasons why the write-downs became necessary. If there were employee terminations, companies should reveal the number of people and the employee groups to be terminated in addition to actual amounts paid and employees terminated. The commission also asked the 150 firms to identify the major types and amounts of costs included in restructuring charges and liabilities in their financial statements. A similar letter was also sent to a handful of bank-holding companies. The agency warned that loan loss provisions and loan loss allowances in annual reports might also warrant review. Loan loss reserves are the funds that banks set aside to cover potential loan losses. The SEC has repeatedly raised concerns that banks are setting aside excessive amounts to affect their financial reporting. SEC spokesman Duncan King declined to name any of the companies that will get the letter, saying ''any time we review companies' filings it's not public.'' An SEC review, however, might lead to some earnings restatements. biz.yahoo.com