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

To: Knighty Tin who wrote (49192)	2/27/1999 2:25:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 132070

Monty, I think the auditors are more worried about losing their fees if they push mgt. touts. Which would definitely happen. No question about it. "Independent Auditors" <g> What is going to be fun to watch is if/when FASB requires these companies to stop using Pooling of Interests method of accounting on these acquisitions. What needs to be audited is the "normal expenses" being hidden in the "one time charges" when an acquisition is booked. Of course the analyst and "investing public" does not penalize them for those. But if the "normal expenses" that are hidden had hit the bottom line of the current operations I wonder how many would have missed estimates? I know this is not news to you or most on this thread but I just thought I might remind the sheep that read this. Hey..... I know....If you think you are going to have a bad quarter just buy someone and pad the acquisition (one time charges) so that your normal operations look good. Maybe that is why we are seeing all the consolidation rather than economy of scale. <VBG> Now I have to say I can't prove any of this happens but I bet no one wants to bet me it doesn't. BTW, not touting MSFT or GE but they may be some of the few (so far) that actually does it the other way and sandbags. Monty