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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.
Home / Markets / Economy
Friday, June 13, 2008
Inflation Jumps 0.6% in May
Associated Press
Inflation shot up in May at the fastest pace in six months, pushed higher by soaring costs for gasoline and other types of energy.
The U.S. Labor Department reported Friday that consumer prices rose by 0.6% last month, the biggest one-month increase since last November, as gasoline costs surged by 5.7%. Food prices, which have also been rising sharply, were up 0.3% as the cost of beef and bakery products showed big increases.
Core inflation, which excludes energy and food, edged up a more moderate 0.2% in May. But even there, core prices are up 2.3% over the past 12 months, above the Federal Reserve's comfort zone.
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