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[Kurt Kessler]

Career suicide is what they have already commited...
by waiting until the 3.8 billion dollar "accounting
error" was exsposed is 'criminal'. A company that big,
I could fully understand $100,000 'missing' or
missapropriated. But 3.8 BILLION dollars??? Like I
said, its criminal. It was nothing short of deception.
They basically ripped off the stockholders. Which for
you and I that would be called fraud, and we would go
to prison for such an offense. But somehow when a
company of that size has this happen, the execs start
pointing fingers and say they had "no knowlede" of
such things. It's really sad.

--- crash3m at trelane.net wrote:
> We're you aware that 80% of this 'financial swat
> team' are accountants?
> Not many people are and the mass media isn't
> exposing it.  All I can
> say is if I were the CFO/CEO of a large corporation
> I'd keep my mouth
> shut, any accountant that did find and report
> improper accounting
> practices would be committing career suicide.
> 
> ML
> 
> On Wed, 31 Jul 2002 20:46:58 -0500 (CDT)
> Dustin Decker <dustind at moon-lite.com> wrote:
> 
> > On Wed, 31 Jul 2002, Kurt Kessler wrote:
> > 
> > > I find it hard to believe that any of these
> companies
> > > ever had problems. Common sense tells you what
> it
> > > takes to make money. When you are head of a
> company
> > > that big, you hire people to do what you tell
> them to
> > > do. When things are going wrong, wouldn't you be
> > > concerned? Is it not their job to inform you of
> such
> > > things? When the "brass" is walking away with
> > > multi-million dollar severances and options, and
> > > everyone else loses 15 years of 401 and stock
> > > overnight, it makes you wonder...
> > 
> > Yeah - I just have to wonder in the present sense
> of Chapter 11
> > filings whether or not the executive officers
> aren't willing to "swear
> > they books aren't cooked".  This is something the
> Bush administration
> > has been pushing a lot lately - to the point we
> may even see more
> > companies throw in the towel rather than find
> themselves with their
> > financial pants wrapped around their ankles.
> > 
> > Needless to day - anyone who isn't prepared to
> swear on their books 
> > faces a significant hit in the consumer confidence
> arena as well.  I 
> > think we've finally hit the "shit or get off the
> pot" moment.
> > 
> > Just my $.02
> > Dustin
> > 
> > -- 
> > *-----------------------------------*
> > | Dustin Decker                     |
> > | dustind at moon-lite.com      
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> > http://www.dustindecker.com |                     
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