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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
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Monday, June 23, 2008
Leading Civil Rights Organizations United in Opposition to NCLB Recess Until Reauthorization Act
Comtex
WASHINGTON, June 23, 2008 /PRNewswire via COMTEX/ ----WASHINGTON, June 23 /PRNewswire-USNewswire/ -- The No Child Left Behind (NCLB) Recess Until Reauthorization Act (H.R. 6239) was not offered as an amendment to the fiscal 2009 appropriations bill for the education, labor, and health and human service departments, thanks in part to the strong opposition of many of the Nation's most important civil rights organizations.
The proposed bill would suspend school improvement requirements and send a discouraging message -- that it is acceptable for some children to continue attending substandard schools, the majority of which serve minority and low-income students.
"It is a victory that this amendment, which runs counter to the intent of federal policies to improve deficient schools, was not considered by the appropriations subcommittee last week. We will continue to stand united in opposing any future attempts by Congress to approve this devastating legislation," said Peter Zamora, Washington, DC, regional counsel of the Mexican American Legal Defense and Educational Fund (MALDEF). "With its passage, teachers, school administrators, and community leaders working hard to improve the situation in their classrooms would be placed in 'suspended animation.' Given the greater likelihood that they will be enrolled in underperforming schools, students of color would suffer the most."
Joining MALDEF in opposing H.R. 6239 are fellow members of the Campaign for High School Equity: the National Indian Education Association, Southeast Asia Resource Action Center, Alliance for Excellent Education, National Urban League, and the National Council of La Raza. These groups agree that the law, as proposed, abandons the focus on improving education for low-income and minority students and codifies the status quo.
Founded in 1968, MALDEF, the nation's leading Latino legal organization, promotes and protects the rights of Latinos through litigation, advocacy, community education and outreach, leadership development, and higher education scholarships. For more information on MALDEF, please visit: http://www.maldef.org.
SOURCE Mexican American Legal Defense and Educational Fund
http://www.maldef.org/
Copyright (C) 2008 PR Newswire. All rights reserved
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