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>>> SHORT: OMC audited by Arthur Andersen,...

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Francois+Goelo Member Level  Monday, 07/01/02 12:40:00 AM
Re: thepennyking post# 50
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>>> SHORT: OMC audited by Arthur Andersen,...

has NEGATIVE $2 Billion Tangible Assets....

http://biz.yahoo.com/fin/l/o/omc_qb.html

http://biz.yahoo.com/pz/020627/29069.html

I bet Moody will downgrade OMC's Debt and general prospects, shortly... There is little doubt in my mind that OMC has misrepresented its financial picture to support its stock price and that we're just looking at the tip of the iceberg, at present...

In early June, KPMG replaced Arthur Andersen and we should soon hear about what bothers them in the accounts, such as a potential Seneca $280 million write-off and undisclosed acquisitions earn-out contingently worth $350 million, to be treated as business expenses, rather than acquisition related...

Also, it's likely that the SEC, will widen it's enquiry concerning the resignation of the Audit Committee Chairman on concerns of improper corporate governance... In the meantime, the Class Action Suits keep piling up nicely...

JMHO, F. Goelo + + +





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