Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

TYC- This one has some hefty goodwill figures still on thje balance sheet. In fact, if they removed all of their goodwill off the balance sheet it would nearly wipe out all of their shareholder equity. Wonder if this goodwill will be addressed in the referenced filing below. I would think the new CEO would want to start his tenure with a clean slate than ignore it now and have to deal with it later. I have a short position. JE

Statement From Tyco International Ltd.
Friday December 20, 4:54 pm ET


PEMBROKE, Bermuda, Dec. 20 /PRNewswire-FirstCall/-- Tyco International Ltd. (NYSE: TYC, BSX: TYC, LSE: TYI) today stated that it expects to release the results of the previously announced review and analysis of the Company's accounting and governance practices and procedures on or before December 30, 2002. The results will be made publicly available in a Current Report on Form 8-K that will be filed with the Securities and Exchange Commission at that time. The Company also stated that it will not otherwise comment on the review until after the release of the results.