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Microsoft Settles SEC Accounting Probe | |
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| Time: 13:12 EST/18:12 GMT | News Source: Reuters | Posted By: Byron Hinson | ||
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Microsoft Corp agreed to stop using an accounting practice that allegedly understated revenues and misled investors, the Securities and Exchange Commission said on Monday. However, the world's largest software maker will not have to change any previous earnings reports. Microsoft consented to a cease-and-desist order but did not admit or deny charges that from 1995 through 1998 it maintained seven reserve accounts containing a total of $200 million to $900 million in unsupported and undisclosed reserves. | ||
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| #1 By 6859 (204.71.100.215) at 6/3/2002 3:09:00 PM |
| I never would have thought that MS would need to sandbag... Did they ever actually need those reserves? |
| #2 By 3339 (65.198.47.10) at 6/3/2002 3:16:16 PM |
| Uh, most people still don't realize that MS is definitely a cyclical biz--most analysts still want you to believe that they can meet or beat expectations every quarter. What if we had known in '95 that MS has good quarters and bad? That they are just as subject to business cycles as industries like auto manufacturing and fiber? Did they need to do this? Certainly an ethical person would say not, but if they hadn't, maybe the last 7 years of their stock chart would look a whole lot different! |
| #3 By 3653 (65.190.70.73) at 6/3/2002 11:46:52 PM |
| Sodacracker... could you at least TRY to say one positive comment about Microsoft? You are the most biased MS hater I've ever seen. Its really pathetic. I find it so hard to believe that one person can embody so much hatred/fear for such a great company. You've literally NEVER said anything remotely positive about MSFT. |
| #4 By 1896 (208.61.159.50) at 6/4/2002 7:51:41 AM |
|
#2
"Uh, most people still don't realize that MS is definitely a cyclical biz--most analysts still want you to believe that they can meet or beat expectations every quarter." The economy goes in cycle Sodajerk, this is one of the first thing I learn in the University, if people are not aware of the basic principle of macro-economy they should better let knowleadgeable people invest their money. You can't make MS responsible for people ignorance. "What if we had known in '95 that MS has good quarters and bad? That they are just as subject to business cycles as industries like auto manufacturing and fiber?" If, in 1995, you didn' t know that MS had bad and good quarters should definately rely on some knowleadgeable advisor in making your investments. This is a capitalistic society and COmpanies must try to maximize their profits and savings. "Did they need to do this? Certainly an ethical person would say not," There is nothing illegal or unethical in use all legal means to run in the best possible way your company. Actually you would be negligent in not doing it. "but if they hadn't, maybe the last 7 years of their stock chart would look a whole lot different!" I agree that the value of MS stock should be different, it is definately underevaluate. |
| #5 By 1896 (208.61.159.50) at 6/4/2002 6:43:53 PM |
| As I stated before if people don' t understand that the business of Microsoft or any other company, sector etc. is cyclical they should not try to make investments by themselves, period. Everything goes in cycle, included the economy, you don' t need to know Adam Smith to realize that . Btw there are other indicators other than earnings to see the cycles only problem is that you have to know what they are and how to evaluate them. Who pushed the NASDAQ at quote 5000? Ignorants not aware of something called "fundamentals". |
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