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____/ Terry Porter on Sunday 26 October 2008 02:13 : \____
> On Fri, 24 Oct 2008 15:57:39 -0700, nessuno@xxxxxxxxxxxxxxxxxxx wrote:
>> Buried in the first quarter earnings report from Microsoft is an
>> astounding fact. For the first time that I can remember, Microsoft
>> closed the quarter with less cash than Apple. Cash, cash equivalents and
>> short-term investments for Microsoft add up to $20.7 billion.
> In 2001, MS had $40 Billion in cash!
> I guess the cost of broken chairs add up ?
> The writing is on the wall folks, Microsoft like the Wintrolls on COLA is
> taking a beating, the trend is downwards and Microsoft don't seem to be
> able to do anything about it.
> Maybe they can't.
According to our resident Munchkins, Microsoft is making LOADS of money. So why
don't the piles add up? Answer: because they play the bucket game [*].
In reality, the company loses value, the stock falls, and the savings get
washed away. Microsoft spends and spends to give an illusion of ever-long
,----[ Quote ]
| 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.
~~ Best of wishes
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