Is it me, or does everytime there seems to be some sort of disaster (9/11, Katrina, Tsunami) big businesses come flying out of the woodwork and IMMEDIATELY claim that they are now not going to make their previously announced forecasts as a result of this crisis....I mean, really, some of them are ridiculous......

Seems to me that many of these corporate crooks lie to investors on a regular basis, and then quickly jump on the "disaster" bandwagon as a way to cover their arses when they don't make the forecasts.

Am I being too cynical? Well, I think not everytime I look at Worldcom, Enron, Tyco, Adelphia, Anderson, etc. etc. etc.

wait until the insurance co.'s get into the act...wahhh wahh :rocketem:

Steve,
SEC rules require them to make disclosure when they learn of "material" business developments.

SEC rules require them to make disclosure when they learn of "material" business developments. Yeah, now define "material"......great catch-all phrase IMO.....

Generally defined as something that will affect their financials by more than 2%.

Generally defined as something that will affect their financials by more than 2%. Thanks Mike.
2% is so small that it could mean anything.....IMO