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

To: Richard Nehrboss who wrote (44574)	1/26/1999 10:12:00 AM
From: Knighty Tin	Respond to of 132070

Richard, But you also have to look at phony merger accounting, receivables flooding, co. stock buybacks for non-Esop purposes, increasing debt to leverage eps, inventory building when prices are falling, one-time writeoffs (of some of the items mentioned above) that are not part of "operational eps," purchases by affiliated cos (AMAT uses this scam repeatedly. It's largest customer, regularly, is its own joint venture DRAM co. <G>), "incentives to distributors," etc. There are many more. So much so that "The Economist" claims that S&P eps are 30% overstated relative to reality. MB