Bat Rastard Big Business - Striper Talk Striped Bass Fishing, Surfcasting, Boating

Homerun04 · 09-04-2005, 10:14 PM

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.

afterhours · 09-05-2005, 08:08 AM

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

MakoMike · 09-06-2005, 10:46 AM

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

Homerun04 · 09-06-2005, 11:51 AM

Quote:

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

Yeah, now define "material"......great catch-all phrase IMO.....

MakoMike · 09-06-2005, 02:53 PM

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

Homerun04 · 09-06-2005, 03:35 PM

Quote:

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