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Microsoft Profit, Sales May Fall Short, Bellini Says
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| Microsoft Corp. may have to warn shareholders that profit and sales will fall
| short this quarter for the first time since 2000, according to Heather
| Bellini, an analyst at UBS AG.
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http://www.bloomberg.com/apps/news?pid=20601087&sid=avsV8CziCIOU&refer=home
Will Microsoft miss its quarterly estimates?
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| A Microsoft analyst thinks that the company might have to warn shareholders
| that its results won't match forecasts, according to Bloomberg News.
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http://blog.seattlepi.nwsource.com/microsoft/archives/156250.asp?source=rss
Recent:
Razorfish cuts West Coast staff
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| Rumors have circulated for months that Microsoft may be looking to sell the
| Razorfish business, though CEO Clark Kokich told TechFlash last month that
| there was nothing in the works. However, he didn't rule out the possibility
| down the road.
|
| "That doesn't mean that two to three to four years from now, it might not
| happen," Kokich told reporter Eric Engleman.
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http://www.techflash.com/microsoft/Layoffs_hit_Razorfish35539414.html
Microsoft's Razorfish cuts NYC staff
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| Microsoft's online ad agency Razorfish laid off 40 staff in its New York
| office this afternoon, citing a dropoff in business from the financial
| services sector.
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http://www.techflash.com/microsoft/Microsofts_Razorfish_online_ad_agency_cuts_NY_staff33609649.html
Microsoft Cuts Staff at FAST Search Division
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| Xconomy received a report last week that the Oslo, Norway-based FAST Search
| division of Microsoft, which has a 180-person outpost in Needham, MA, and a
| smaller office in New York, had laid off 25 people in its U.S. offices.
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http://www.xconomy.com/boston/2008/11/25/microsoft-cuts-staff-at-fast-search-division/
Ex-Microsoft boss sentenced
http://seattlepi.nwsource.com/business/371393_msftcourt19.html
Former Microsoft Manager Gets 2 Years In Jail
http://news.portalit.net/fullnews_former-microsoft-manager-gets-2-years-in-jail_1427.html
SEC Foresees Rise in Fraud Cases
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| Laying out his priorities, the new enforcement chief for the Securities and
| Exchange Commission in San Francisco said Thursday he expects an upswing in
| fraud cases against public companies.
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http://www.law.com/jsp/article.jsp?id=1202424479239
Related:
Microsoft's Accounting Under Scrutiny
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| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''
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http://query.nytimes.com/gst/fullpage.html?res=9A03E1DC173DF932A35754C0A96F958260
Microfraud?
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| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
|
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
|
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewski—who for nearly five years had received stellar performance
| evaluations—received his first-ever unsatisfactory one, and was eventually
| forced to resign.
|
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.
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http://web.archive.org/web/20070308032343rn_2/www.seattleweekly.com/1999-01-06/news/microfraud.php
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