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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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Tuesday, August 05, 2008
Cavuto: To Drill or Not to Drill? Congress Won't Answer
Neil Cavuto, Anchor and Managing Editor
FOXBusiness
Missed tonight's Cavuto? Catch "The Deal" right here on FOXBusiness.com
Here's the Deal...
Stop playing "Let's Make a Deal."
Have you heard about this?
A Politico.com report that has Nancy Pelosi secretly telling Democratic members to campaign for oil drilling if it will help them with voters, and she'll take the heat for preventing any vote on said drilling.
This way, Pelosi keeps drilling off the table...And Democrats keep their seats in the House.
Pelosi's office isn't commenting.
But it comes as "both" presidential candidates are pitching immediate energy action...Like now!
Even Barack Obama wants to drill.
John McCain wants to drill.
Now we know quite a few Democrats want to drill.
Because quite a few more of their constituents demand they drill.
But here's tonight's news flash:
We're not going to drill.
Not when it's easier for Congress to have it both ways on drilling.
Say you want it.
But your boss won't allow a vote for it.
Then go on a five-week recess to avoid making a fuss over it.
Me?
I've had enough of it.
This isn't a Republican issue or Democrat issue.
This is simply "the" issue.
And rather than perform, Congressional leaders punt.
Arguing you can have your high-octane cake and eat it too.
I don't think I've ever heard anything more cynical in my life.
"If" you say energy is too important to waste a minute ignoring, quit wasting minutes.
"If" you say you trust the judgment of your members, let your members judge.
Let them vote. Yay or nay.
To drill or not drill?
Simple question. Again, from Washington, no answer.
A lot of outrage.
A lot of games.
A lot of nonsense.
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