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Tuesday, June 22, 2010 8:11:03 PM
And with Withum auditing them, there should be zero doubt of that.
Really, zero doubt? How quickly we forget Arthur Andersen? Were you surprised that the financial statements are being revised? I expected it.
The continuing problem is that the honest, conservative, genius figurehead for this company made a shady, risky, bonehead move that's costing him and his shareholders big time. You defended the valuation of the media credits until the company announced there was a problem. Now you claim that it's no big deal, that the overstatement of the assets is of no consequence to anything. Then tell me this, why did he do it? This was not an honest mistake, due to an unforeseen change in accounting procedure. This was a calculated, bold, risk filled stance, that should have never been taken. The question again is why? What was the potential reward for such a calculated risk? And why are you out in front of this question, trying to head it off at the pass, before it even gets asked?
Damn Right I've Got the Blues.
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