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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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Friday, August 15, 2008
Cavuto: The Democrats are Done
Neil Cavuto, Anchor and Managing Editor
FOXBusiness
Missed tonight's Cavuto? Catch "The Deal" right here on FOXBusiness.com
It's August.
It's early.
But for Democrats, it's over.
Over. Done. Fini.
At the risk of sounding like I've snapped...allow me this snap judgment.
The Democrats have just lost the presidency this week.
For them, a horrible week.
So horrible...so discombobulated. So inconsistently communicated and messaged, that they've lost their message.
And I think, this election too.
Because here's the deal as we end this week, my friends.
The Dems...are done.
I know. Laugh all you want. And I will conveniently destroy this message in the event I'm wrong.
But here's why I don't think I am.
During this crucial defining period that brought a Russian bear out of hibernation and a befuddled Nancy Pelosi into drilling reality...allow me to drill home this point.
Democrats lost a lot of mojo this week, their only saving grace that it's an August week.
I don't think that will save them.
Not when Russia threatens a new Cold War and the best their presumptive nominee can do is offer hope warring parties could put aside their hostilities...
While his opponent calls Russia what it clearly was and is: a bully. And a bully that must be dealt with.
And if his presidential mettle wasn't tested enough...Barack Obama caves to Hillary Clinton and allows a roll call vote. He's doing it for all good and decent reasons. But nothing good or decent will come of it....her supporters still don't flip over him, no matter what he does to accommodate them.
He's given Hillary a prime time speech. Bill a prime time speech. Chelsea a prime time speech. Is Sox the Cat still around?
My god, who won this damn thing? Show some backbone, man!
Then in the middle of the week Obama's economic team comes out with this grand explanation of a tax cut package that reminds all again...not of cuts promised for the middle class...but serious hikes for those who don't much consider themselves above middle class.
And charges again that these new numbers "still" don't add up as we explored on this very show.
On the very same week Nancy Pelosi read the furor among her own members and decided to backtrack on that no-drilling vote thing.
Not good things for a party that said it would lead the charge.
It shouldn't be this way...with the slowing economy, democrats should be running away.
But they look weak on a military crisis.
Inconsistent on an economic crisis.
And impotent on their own brewing political convention crisis.
Things change. Tides ebb and flow.
But I think we will look back to this week in August as the time the party that had it all in the bag...just puked in it.
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